Promoting openness and honesty with our community!
At YSL.IO, transparency is more than just a buzzword - it's a cornerstone of our values. We are committed to building a strong connection with our community that is rooted in open communication, and that includes being upfront about fees. We understand that fees can be a source of concern for some, which is why we are completely transparent about when they're collected and how they’ll be utilised to support the growth and development of our protocol.
But that's not all! We are focused on the long-term success of YSL.IO and are transparent about how the team benefits from the protocol. That’s why we have structured our income model to depend on the performance of the protocol. The more the protocol grows, the more income we earn, and the more value we can deliver to you. It's a simple formula that ensures our incentives are always aligned with the vested interests of our community.
We pride ourselves on being a protocol that puts the community first, and every decision that's made by our team is anchored to one goal: to make YSL.IO the best it can be. This, paired with our commitment to full transparency, helps us build a foundation of trust and mutual understanding that will enable us to work towards the same goal - making YSL.IO a robust, thriving ecosystem that benefits all participants.
The YSL.IO team will utilise the USDC to cover all ongoing operational expenses to ensure we're able to provide the best user experience. A few of these expenses include the remuneration paid to our development team and UI/UX designers, costs associated with auditing our smart contracts and marketing/adspend expenditure.
- 2.ChainZap Fees -> 25% of the swap fees received from each token swap executed through ChainZap is directed towards supporting the development and growth of the protocol.
- 3.Treasury Fee -> 25% of inbound USDC will be deducted and sent to the team, and 25% of the USDC side of treasury-owned liquidity will also be sent to the team.
- When a non-referred user connects to YSL.IO, the team will earn when the user performs one of the protocol transactions that send USDC to the referral contract.
- When a non-referred user shares a referral link with their friends, the team will be the direct upline and will therefore earn when their downlines perform one of the protocol transactions that send USDC to the referral contract.
- Each time a referrer claims referral rewards, 25% will be deducted and sent to the team. When a user holds unclaimed referral rewards (730 hours claim period has elapsed), all unclaimed rewards will be sent to the team.
In the event the USDy Buyback and Burn (UBB) has been activated by the protocol, the team will earn USDC from the following:
- Token Taxes -> 25% of the YSL mint/burn tax, 25% of the bYSL and xYSL transaction taxes (the remaining 75% is used to reduce the supply of USDy).
- HydraVault Deposits -> 5% of every deposit (15% of every deposit is used to reduce the supply of USDy).
Please note: there was no team, partner, or founder allocation of YSL and USDy. The only tokens held by the team will be xYSL V2, which are carried over from xYSL V1.
- YSL.IO Token Taxes -> Find a complete breakdown of our token taxes and how the revenue is redeployed.
- Deposit Fee -> This fee applies to all AceVaults, and if applied it will be used to increase the vaults perpetual ratio.
- Withdrawal Fee -> This fee applies to all AceVaults, and if applied it will be used to increase the vaults perpetual ratio.
- Deposit Fee -> This fee applies to all HydraVaults, and if applied it will be used to increase the vaults perpetual ratio.
- Withdrawal Fee -> This fee applies to all HydraVaults, and if applied it will be used to increase the vaults perpetual ratio.
- 25% Claim Fee -> When a referrer claims USDC rewards, there will be a 25% claim fee applicable, this will be sent to the team.