YGGLOK Land Earnings Fund

YGG Land in LoK earned over $200 in DAI last month and earnings will increase each month as more players join us in YGG0/YGG1.

This amount is still too low to distribute to YGGLOK holders and the rewards system for YGG0/YGG1 players is not in place yet.

I am proposing reinvesting that DAI into Compound Finance for cDAI. That way we are earning interest on our earnings while we build the rewards tracking/distribution systems .

What is Compound Finance?

“Compound Finance is an algorithmically-operated, decentralized, interest rate protocol for lending and borrowing cryptocurrencies. It is a platform where users can frictionlessly supply (lend) cryptocurrencies as collateral, to borrow crypto assets based on interest rates set by real-time supply and demand. The concept is pretty straightforward, deposit collateral, and earn interest. However, instead of depositing your money into an intermediary like a bank, you put it in a smart contract. This ensures that you are not giving up control of your assets to intermediaries.”

Once our fund has grown to a sufficient amount and rewards tracking/distribution has been set up, we can comfortably distribute earnings to YGGLOK token holders and YGGLOK players while maintaining a fund for future YGGLOK endeavours!