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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 3. In the meantime, learn how you can be part of an exclusive airdrop for xBUSD by simply holding bYSL!

Salient features of xBUSD

  • xBUSD token - A seigniorage algorithmic token pegged to BUSD.
  • bYSL Vault - bYSL holders are able to deposit bYSL to earn xBUSD.
  • xBUSD Vault - xBUSD holders are able to deposit xBUSD to earn BUSD.
  • xBUSD Airdrop - purchase bYSL during Phase 1 to be part of the xBUSD airdrop.
  • xBUSD Vault Burn - 10% of BUSD deposits will be used to purchase and burn xYSL.
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.
  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 2 or Phase 3 (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.
So, in order to secure a share of this exciting 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 2 and 3. Stay tuned!
Last modified 18d ago