Purchase of the YSL token through the YSL.IO will create YSL-BUSD locked liquidity
YSL - No fee is charged by the protocol
The YSL token can be purchased from the YSL-BUSD liquidity pool held on ApeSwap Finance. Alternatively, users are able to purchase the YSL token through the exchange function on YSL.IO. In doing so, a user will benefit from reduced fees as 50% of the YSL tokens will be minted, and they will also be creating YSL-BUSD Locked Liquidity!
Example - WBNB
Suppose a user wants to swap WBNB for YSL tokens using the exchange function:
Step 1: The WBNB is immediately converted into BUSD by the protocol.
Step 2: 50% of BUSD acquired is used to purchase YSL tokens for the user.
The protocol will aggregate the order between YSL-BUSD liquidity pools, ensuring the best possible exchange rate is achieved for the trade.
Step 3: The protocol will match 50% of the BUSD by minting an equivalent value of YSL tokens.
Step 4: The sum total (100%) of purchased and minted YSL tokens are then sent to the user.
Step 5: The remaining 50% of BUSD acquired will go towards YSL-BUSD locked liquidity.
The protocol will match the remaining 50% of BUSD by minting an equivalent value of YSL tokens.
The LP tokens are sent to the ApeSwap Finance locked liquidity contract (vesting factory) for a predetermined period of 1000 years, resulting in the formation of locked liquidity equivalent to 100% of the WBNB provided.
Example - sYSL
Suppose a user wants to exchange their sYSL tokens for YSL using the exchange function:
Step 1: The sYSL tokens sent by the user is immediately burnt by the protocol.
Step 2: The protocol will then mint an equivalent value of YSL tokens.