What is Y2K (Y2K) Token?

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:

  • Governance
  • 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’.

Read More:
What is N Protocol (N) Token?

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