$YRS
Overview
$YRS (Yours Token)
$YRS is a token designed to increase the utilization of Yours Points and other aspects of the Yours protocol.
Individuals or businesses can burn their Yours Points and receive $YRS tokens in return.
The amount of $YRS given when Yours Points are burnt may be adjusted to reflect the market price of $YRS and the expected return of $YRS holders/stakers.
Proportional to the amount of points burned, the assets in the Point Base Pool will be transferred to the Token Base Pool to backup the value of $YRS.
Burning and checking the exchange rate of Yours Points is basically done through the Yours platform.
Stakers of $YRS can share a portion of the revenue generated by the Yours Protocol and participate in the governance of the Yours Protocol.
$YRS can be burned and redeemed for Yours points as well.
$YRS can serve as an intermediary to help facilitate the exchange of multiple points, tokens, and fiat assets on a dex-type defi in the future.
Use cases
Staking - $YRS stakers can get the share of fees and revenue generated by the Yours Protocol. This allows them to maximize the long-term rewards of participating in the protocol.
Staking - $YRS stakers can participate in various governance processes for Yours Protocol.
Burn $YRS and receive Yours Points.-> Reflects the exchange rate at the time of burn. Some of the $YRS will be returned to the protocol as a fee.
Rewards for long-term staking (lockup)-> Additional $YRS can be provided for long-term staking and lockup. On the other hand, to unlock already locked $YRS, you need to burn $YRS.
Rewards for providing liquidity-> You can provide additional $YRS for providing long-term liquidity. On the other hand, you will need to burn $YRS to unlock $YRS that has been locked up for a long period of time.
Gas fees and protocol fees-> You can use a form of paymaster contract to pay for various gas fees (such as NFT minting and transaction) with $YRS.
Participation in the Yours Protocol ecosystem-> If Yours Protocol provides more featurs like marketing (advertising), customer information provision, and financial services like mortgage lending in the future,certain amount of $YRS staking could be required as participation collateral.
$YRS Distribution
YRS currently has the following distribution plan.
Assuming a total supply of 120 million tokens, 2.5 million tokens per month will be unlocked over 48 months (4 years total).
However, not all unlocked tokens will be released to the market immediately, and some may be held in reserve and burned under certain conditions.
50% - Issuance based on assets coming into the Token Base Pool. Initial sales may be issued in a similar form.
15% - (Long-term) Staking Bonus
15% - (Long term) LP Bonus
10% - YRS DAO Reserve, set aside as a reserve for DAOs to participate in the governance of Yours Protocol and utilize for various purposes, including marketing / grants / changes in backup asset / additional partnerships.
10% - Core Contributors & Partnerships. To be given to team members who have made key contributions to the development of the protocol in the early days and to key partnership companies.
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