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xBUSD

What is xBUSD and its benefits?

The xBUSD token will operate within a subsystem of the YSL.IO ecosystem, known as xBUSD.
xBUSD is an innovative concept that will bring together the best of both worlds - the successful mechanisms behind seigniorage protocols, and our protocols enhanced tokenomics and the ability to create protocol-owned liquidity.
We believe that the unique tokenomics behind xBUSD will have the potential to revolutionize the way that seigniorage protocols operate, and we are excited about its potential.
We are not releasing all the details just yet to maintain our competitive edge. But be sure to check back soon, as xBUSD is scheduled to launch in Phase 4. In the meantime, learn how you can be part of an exclusive airdrop for xBUSD by simply holding bYSL!

Salient features of xBUSD

  • ​YSL AceVault -> YSL holders are able to deposit YSL to earn xBUSD.
  • ​xBUSD Token -> a seigniorage algorithmic token pegged to BUSD.
  • ​xBUSD Vault -> xBUSD holders are able to deposit xBUSD to earn BUSD.
  • ​xBUSD Airdrop -> purchase bYSL before the snapshot to be part of the xBUSD airdrop.
  • ​YSL AceVault Perpetual Ratio -> 10% of BUSD deposits made into the xBUSD vault will be used to market-buy YSL and sent to increase the ratio of the YSL AceVault.
Please note: To be eligible for the xBUSD airdrop you must meet the following criteria:
  1. 1.
    First, you must have made a purchase of bYSL equivalent to 1000 BUSD (up until the snapshot has been taken). This can be in one transaction or multiple transactions, but your wallet address must have sent a minimum of 1000 BUSD to the protocol to purchase bYSL. The airdrop will be based on the BUSD value that you send to the protocol, not the value of your bYSL at the time of the snapshot. In other words, the more BUSD you send to purchase bYSL the greater your share of the snapshot.
  2. 2.
    Second, you must maintain your balance until the snapshot for the airdrop has been taken. The snapshot will be taken either during Phase 3 or Phase 4 (date TBA). This means you will need to hold onto your bYSL and not make any transfer or sacrifice any amount for BUSD before the snapshot is performed. In other words, if any amount of bYSL leaves your wallet, you will be excluded from the snapshot.
TL;DR - In order to secure a share of this exciting xBUSD airdrop, make sure you have sent at least 1000 BUSD to the protocol to purchase bYSL and that your bYSL balance does not decrease until the snapshot date. We'll be sure to update you on when that is as we get closer to Phase 4. Stay tuned!
Last modified 1mo ago