Phase 1 - bYSL Presale Event

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Are you looking to get your hands on some bYSL? Well, you’ll be glad to hear we are holding an exclusive presale event - the perfect opportunity for those looking to get their hands on bYSL before it's made available to the public.
But there's a catch. In order to access the presale, you will need to bid for a spot by taking part in the early access auction. This auction will only last for 24 hours, so it will be important to move quickly and ensure your bid(s) count.
The good news is that the auction will be fair - everyone will have a chance to bid for a spot, and whether you have access to the presale will depend on your bid(s) ranking. There will only be a maximum of 24 places available for the bYSL presale (one user granted access each hour of the presale event).
If you're the highest bidder of the early access auction, you'll be first in line to snap up bYSL when the presale begins. However, if your bid is lower down on the list, you will not be able to access the presale until later on. For instance, if you had the lowest bid ranking (24th) you’ll only have access to the presale once the 24th hour commences.
The presale will be your only chance to get bYSL at a low introductory price of $1.00. It's important to note that the price of bYSL during the presale is NOT fixed. Once the treasury-held BUSD balance exceeds 10,000 BUSD, the bYSL protocol price algorithm will be activated to determine the value of bYSL. 
Simply put, as more purchases are made during the presale, the balance of treasury-held BUSD will increase, which in turn forces the price of bYSL to increase. So, if you plan to get in on the ground floor and acquire more bYSL, make sure you place a bid in the early access auction. But remember, you'll need to make your bid count - as there are only 24 limited spots in the presale!
1️⃣ Early Access Auction - 05/08/2022
The early access auction is your chance to secure one of the 24 spots in the presale. By providing BUSD to secure a spot in the presale, you'll be able to get your hands on bYSL before anyone else.
The BUSD you provide during the auction will not go towards the presale or influence the price of bYSL; it is simply to secure your spot in the presale.
After the completion of the auction, BUSD acquired from the winning bids will be sent from the contract to the team and losing bidders will be able to reclaim their bid(s) from the contract. All bidders that are not in the top 24 will be considered losing bidders. When a losing bidder reclaims their bid - 100% of the BUSD they sent during the auction will be sent to their wallet.
Each bid that is placed will need to be in increments of 1 BUSD and will need to be greater than the current highest bid.
All BUSD that is sent as bids will be held on a custom-built contract created for the purpose of the early access auction.
Participants will be able to increase their current bid during the auction by sending additional BUSD. Each bid placed will need to be greater than the current top bid, so when the user sends additional BUSD it would need to increase their current bid (cumulative BUSD sent by the user as bids) above the current top bid. 
For example, lets say your initial bid was 500 BUSD and the current top bid is 600 BUSD. If you wanted to up your bid you’ll need to place a bid that exceeds 600 BUSD. This means the minimum you’d need to send is 101 BUSD. This will bring your total bid to 601 BUSD and make you the new top bidder.
When the auction ends the protocol will determine the rank of each participant by calculating the sum total BUSD they have sent to the contract. For example, if you initially sent a bid of 100 BUSD but sent an additional 100 BUSD towards the end of the auction to increase your bid, the protocol will determine your current bid as 200 BUSD.
There can only be a maximum of 24 winning bidders. 
The top bidder will be granted access in the first hour of the presale, and each hour thereafter a bidder will be granted access based on their bid ranking.
👉 FAQ: Early Access Auction 
👉 Difference between “current bid”, “minimum bid” and “highest bid”
2️⃣ bYSL Presale Event - 06/08/2022
bYSL will only be available for purchase during the presale period for those that have placed a winning bid in the early access auction.
The bYSL presale event will begin immediately after the 24-hour early access auction ends. 
bYSL will have an introductory starting price of $1.00 when the presale begins.
The duration of the presale will be dependent on the total winning bids received during the early access auction. This will vary from a minimum of 0 to a maximum of 24, depending on the number of bids received during the early access auction. 
For example, if only 10 bids are placed during the auction, there will be 10 winning bids and the bYSL presale will run for 10 hours. However, if there were 30 bids received during the auction, there will be 24 winning bids and 6 losing bids, and the presale will run for 24 hours.
Please note: The price of bYSL will begin at $1.00 during the presale event. This is an introductory price that will remain in effect until the balance of treasury-held BUSD increases above 10,000 BUSD. Once the treasury-held BUSD balance exceeds 10,000 BUSD, the bYSL protocol price algorithm will be activated to determine the value of bYSL.
👉 FAQ: bYSL Presale Event
Benefits of acquiring bYSL in Phase 1
1️⃣ Acquire More bYSL
Looking to get more bYSL for your buck? Then you'll want to take advantage of the bYSL presale event, which is kicking off at just $1.00 per bYSL. That's right - you can get in on the ground floor and acquire more bYSL than you would have otherwise with the same amount of capital.
So what's the benefit of this? Well, you'll have more bYSL to deposit into the bYSL vault once it launches. Plus, you'll be able to participate in each SuperNova at a relatively lower cost, as you won't need to market buy bYSL each time you decide to participate in the lottery.
2️⃣ Treasury-held BUSD increases in Phase 2 
A unique aspect of bYSL is how its value is determined, whereby it is directly linked to treasury-held BUSD. In other words, as the balance of treasury-held BUSD increases - so does the value of bYSL.  
Why is that important? well, when Phase 2 begins, all our YSL.IO token contracts will be deployed and our Liquidity Propulsion Event for our HydraVaults will commence. 
This is great news for those who have already purchased bYSL during Phase 1. This is because, as more users take part in our HydraVaults to take advantage of the 80% bonus, a significant amount of BUSD is constantly being redeployed to the treasury contract, which in turn causes the value of bYSL to increase. 
But that's not all - 5% of every YSL, xYSL, USDy and BSHARE transaction will also be redeployed to the treasury contract as well as 45% of every bYSL purchase. Consequently, Phase 2 promises to be an exciting time for bYSL token holders
​👉 Learn more about the 10 ways the bYSL value will increase​
3️⃣ Exclusive xBUSD Airdrop in Phase 3
By purchasing bYSL (minimum of 1000 BUSD) you'll be eligible for the xBUSD airdrop, provided you hold onto your balance until the snapshot for the airdrop has been performed. 
Please note: To be eligible for the xBUSD airdrop you must meet the following criteria:
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.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!
4️⃣ Earn more xBUSD in Phase 3
The bYSL Vault is an exciting component of the xBUSD subsystem. It will enable bYSL holders to earn xBUSD Rewards every 8 hours, while giving them an opportunity to increase their bYSL holdings through the vaults Perpetual Ratio.
So in theory, if you were to acquire bYSL during Phase 1 while the price is relatively low, you'd be able to stake a greater amount when the bYSL Vault launches in Phase 3 - thus increasing your share of the xBUSD reward distribution that occurs every 8 hours.
V2 LAUNCH - Previous
Phase 1 - xYSL V1 OTC Event
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Phase 2 - Liquidity Propulsion
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Outline
1️⃣ Early Access Auction - 05/08/2022
2️⃣ bYSL Presale Event - 06/08/2022
Benefits of acquiring bYSL in Phase 1
1️⃣ Acquire More bYSL
2️⃣ Treasury-held BUSD increases in Phase 2
3️⃣ Exclusive xBUSD Airdrop in Phase 3
4️⃣ Earn more xBUSD in Phase 3