The YSL.IO ecosystem is built on the idea of a virtuous circle - everyone benefits when we're all working together to create a more resilient and healthier ecosystem.
That's why we've designed our taxation infrastructure to not only encourage behaviours that support the health of the protocol but also create a positive feedback loop of value creation.
By having a majority of our taxes redeployed as rewards back into our ecosystem, our protocol is able to stimulate existing participants whilst also incentivising further user adoption. This virtuous cycle will lead to even more token tax revenue, which in turn fuels the continued growth and development of our ecosystem.
- All YSL.IO tokens will be subject to the taxation infrastructure.
- The percentage of tax applicable and the events that trigger a tax will vary depending on the token being swapped. The amount of tokens that are collected for the token tax will be dependent on the value of the underlying transaction and the percentage of tax that is applicable.
- The tokens that are collected from token taxes will be redeployed as reflections to AceVault participants and to help grow the ecosystem. Please refer to the following table for a breakdown of how the revenue collected from token taxes is redeployed:
- Yes, there are certain whitelisted events that will NOT be subject to our token taxes. Please refer to the following table for a summary of events that have been whitelisted and are exempt from our token taxes:
Whitelisted events that are EXEMPT from the 10% bYSL mint/burn tax:
- The Claim All function allows you to claim all your unclaimed rewards with a single action.
- The Stake All function allows you to stake all your unclaimed rewards with a single action.
- The Transfer All function allows you to transfer your entire balance to another wallet without any transaction taxes. That's right - no tax. So, if you're looking to consolidate your balances or simply want to move your balance to a different wallet altogether, Transfer All is for you!
- For example, lets say you hold 100 YSL in wallet A but want to transfer the balance to your new wallet - wallet B. By utilising Transfer All you'll avoid the 15% transaction tax that is applicable when the token is transferred. As a result, you'll be able to move your 100 YSL to wallet B without losing 15% of your balance!