What is Y2K (Y2K) Token?
Y2K (Y2K) is the native token of Y2K Finance, shaping the direction of 2 flagship products: Earthquake and Wildfire. Y2K is based on its own blockchain.
The token has a total supply of 20,000,000. As of December 22, the Y2K token price is $1.00 USD with a 24-hour trading volume of $109,837 USD. The circulating supply and the max supply are not available.
Y2K (Y2K) Tokenomics
$Y2K token is the utility token of the Y2K ecosystem, shaping the direction of 2 flagship products: Earthquake and Wildfire.
Following the IFO, $Y2K can be locked for vlY2K which will exhibit the following functions:
- Protocol revenue sharing (30% of fees)
- Direction of emissions
At launch, $Y2K will be issued as a reward to vault depositors, but will be non-transferable until Bond initiation and the release of vlY2K. The approximate timeline for transferability is early December.
The Y2K Vault tokens are ERC1155, representing a pro-rata share of vault ownership by the depositor. Y2K vault tokens are differentiated by the following identifiers:
Asset: Token under consideration
Type: Hedge or Risk
Epoch: Time period of the vault
Strike: How far from peg the asset price needs to deviate in order to trigger a payout to the Hedge vault depositors.
The token will be fairly distributed across the following areas:
- 30% towards Liquidity mining
- 35% towards the Treasury
- 15% towards the core team (24 month linear vest, 9-month cliff with a 10% unlock)
- 10% to New Order treasury (Incubator)
- 5% towards investors (24 month linear vest, 6-month cliff with a 10% unlock)
- 5% to the IFO
What is the Y2K Finance Project?
Y2K Finance is a suite of structured products designed for exotic peg derivatives, that will allow market participants the ability to robustly hedge or speculate on the risk of a particular pegged asset (or basket of pegged assets), deviating from their ‘fair implied market value’.