The community-governance function will involve sYSL vault participants and the YSL.IO treasury.
The sYSL token (BEP-20) will operate as the governance token for the YSL.IO platform. The community-governance function will enable token holders to vote on various proposals that will help spread awareness and increase the protocols utility demand. Any user that wishes to participate in the governance of YSL.IO will need to either purchase sYSL tokens, procure sYSL in the form of Block Rewards or earn sYSL rewards through the utilisation of the optimisation or amplification function.
sYSL token holders will be able to cast their vote on various governance initiatives put forward by the community. The weight of a vote will be dependent upon the user's sYSL token balance. In other words, the greater a user's sYSL token balance, the greater the weight of their vote. The community-governance function will then utilize the YSL.IO treasury as a means of funding the proposal (Please note: any proposal involving changes to the protocol will be implemented by the YSL.IO core team).
The YSL.IO Treasury
The YSL.IO treasury was established upon the conclusion of the price discovery phase. The treasury function consists of a YSL treasury pool and sYSL tokens (staked indefinitely in the sYSL vault). The Liquidity Mining Rewards received by the treasury (based on the indefinitely staked sYSL tokens) will act as a source of replenishment for the YSL treasury pool. In other words, the protocol will harvest the sYSL block rewards on a daily basis, with the harvested rewards being exchanged immediately for YSL tokens, with the protocol burning the sYSL tokens. A 10% sYSL exit fee will be deducted from the minted YSL tokens, and as this function is performed autonomously by the protocol a controller fee (variable between 0.3% to 1%) will also be deducted from the YSL tokens. The DAO will then be able to utilise these accumulated YSL tokens for any future developments.
YSL tokens equivalent to 20% of the initial YSL token supply was minted for the YSL.IO treasury
After the price discovery phase, 20% of the initial YSL token supply was minted and sent to the YSL treasury pool. The minted YSL tokens are subject to a 365-day lock with a daily linear unlock.
The linear daily unlock period acts as a safeguard, ensuring the sum total of tokens cannot be exchanged or transferred to an external wallet, reducing the risk exposure to nefarious actions.
sYSL tokens equivalent to 5% of the initial sYSL token supply was minted for the YSL.IO treasury
After the price discovery phase, 5% of the initial sYSL token supply was minted and sent to a separate sYSL treasury pool. These sYSL tokens are staked indefinitely in the sYSL vault.