What is Y.Financial?
Y.Financial is a platform which enables simpler, easier, and cheaper access to leading decentralised finance (DEFI) assets in form of index tokens.
Investing in the Y.Financial index allows for mitigating single token volatility along with automating any yielding opportunities. Optimizing the token acquisition process both reduces risk and transaction related fees.
An example in numbers:
If a user were to invest in four of the underlying assets of our index token with current gas marks, he would pay $200 in fees. We remove the process of swapping multiple times and therefore reduce the gas fees for the user to $20-$50.
Our main Token: YDOT
Every user that buys into our index token does not only hold an index with 4 underlying assets, they also receive (on a 1:1 ratio) our main token: YDOT
YDOT works as a governance token. During governance votes, the more YDOT tokens a user has, the more their vote is worth. Voting for governance also entitles holders for airdrop rewards proportionate to the number of YDOT.
The more YDOT you hold when voting, the bigger your share in airdrop rewards from yield farming opportunities coming from our index tokens. YDOT therefore rewards the user in multiple ways from just holding the token - the more interest we have in the main index token, the more YDOT holders benefit.
Every ninth day is a Y.Family day. A ‘harvest powered’ governance day, where we have zero fees on transactions between Y.Financial members on the platform and hold our governance votes. Every YDOT user voting with the majority receives an additional airdrop of a pre-selected token into their wallet. This crowd-consensus mechanism pushes both for a majority vote whilst also incentivising finding consensus.
Our first index token — YFIN
YFIN is an ETF-like product which aggregates four top performing assets in DeFi into a tokenized index. We call them the ‘Core4’ tokens. This is launched as a product called ‘YFIN’ and will be voted on at least once a quarter to decide if one or more of the underlying tokens are being replaced with a more appropriate token. The right to vote on this change is handed to YDOT governance token holders.
The YFIN target price is pegged to the underlying Core4 tokens.
The current Core4 tokens are: YFI, YFII, UNI, and SUSHI.
We have picked these Core4 tokens for a start as they are considered ‘blue chip’ tokens. Key considerations are yielding liquidity, size of community and forward growth potential in the DEFI space, something we believe is very important as the price of YFIN will retain longer term growth value, due to less exit scam volatility on the Core4. After our launch, users will be able to vote on changing underlying assets of this index.
We use a price range at launch to proportion how much of each token we implement into YFIN. The initial launch ratios are defined as follows:
If the token price is over $1000, we use 0.001 in each YFIN token.
If the token price is between $100 and $999, we use 0.1 in each YFIN token.
If the token price is between $0–99, we use 1 in each YFIN token.
Y.Financial, Facts & Figures
Token Generation Event is scheduled for Friday, 16th of October 2020. Listing on UNISWAP will occur immediately post TGE. Listing is supported with 200 ETH and 250,000 YDOT.
The total token pre-sale is 1'000 ETH. Please follow us here for updates on listing time and more.
Y.Financial will release more index tokens in the future.
Current plans are around a new release every quarter.
Users holding YDOT will be able to profit from ALL index tokens on the platform at the same time.
They also are able to VOTE on underlying assets of our index tokens.
Vesting of team tokens/ reserve allocations etc. have been hard coded into the smart contract.
Testnet is live. Mainnet will be live in October 2020.