YRP
Pools
There are two pools to backup the value of two core concept of the Yours Protocol : Yours Points(YRP) and $YRS(Yours Token).Eash pool consists of cash, tokens, and other fiat assets. The specific proportions are unspecified yet, but may become fixed in the future through governance.
Point Base Pool
Token Base Pool
YRP (Yours Point)
Yours Points are issued based on the Point Base Pool.
Individuals or businesses can contribute cash, tokens, or other monetary assets to the Point Base Pool and receive Yours Points.
For individuals (end users), points are primarily purchased on the marketplace available on the Yours platform.
Businesses can provide cash, tokens, or other monetary assets through business-to-business contracts, similar to OTC trading.
Points will also be available for use in partnership companies, especially where tokens or fiat assets in the Point Base Pool are used to pay for commerce or services.
Use cases
Yours Point is not currently considering a tokenized form (but points may be tokenized in the future).
However, it may be used in the following ways.
Be used as a substitute for tokens or fiat assets that make up the Point Base Pool.
From the end user's point of view, it is advantageous to be able to use multiple services with a single point system.
Structure: Register and display the purchasable assets or service coupons which could be purchased with token or monetary asset originally, at the Yours marketplace.
The end user purchases the displayed items uploaded by the partnerhsip companies (asset & service providers) in the marketplace.
The marketplace deducts the user's points from the marketplace DB and sends the corresponding token or monetary asset to the partenrship company (asset & service provider). The asset & service provider assures the delivery of the specific assets or services to to the end user.
Burn the points and change them to other assets in the Point Base Pool.
At this stage, it is not operationalized like swap in DEFI. However, it allows individuals or companies to deposit their tokens or fiat assets and receive Yours Points, which can then be easily converted into other assets.
This could be very helpful for B2B token custody transactions. However, we plan to initially limit the number of assets that offer this feature to just a few withdrawal options.
Businesses and individuals pay a transaction / exchange fee to Yours Protocol, and the protocol assumes the risk of holding or trading tokens (including exposure to price fluctuations).
You can burn points and get $YRS at the Yours Platform.
You can also burn $YRS to get points. In other words, Yours Points and $YRS are almost always interchangeable. However, while the price of Yours Points is relatively stable (1 point = 1 dollar in current status), the price of $YRS can fluctuate in the market depending on its features and market price. The Yours platform officially provides the ability to purchase $YRS at a fixed price using Yours Points. A number of benefits would be given to the holder or staker of $YRS.
This feature can also be advantageous for external companies to introduce reward schemes using Yours Points. For example, if a company already offers its customers their own point-based loyalty system, and they introduce a new loyalty system which rewards customers with Yours Points based on the amount of purchases they make, (but instead requires the company to pay a percentage of their purchases into the Yours Point Pool to back it up,) their customers get a much more refundable reward system than a traditional version of points system.
Also, the higher the value of $YRS, the greater the need for customers to earn Yours Points. If you can make it possible for customers to earn Yours Points on more favorable terms than those available through direct cash or token payments, you can create a stronger lock-in for the platform (asset & service provider).
When burning points and issuing $YRS, the amount of cash, tokens, or monetary assets that were previously backing up the points will be moved from the Point Base Pool to the Token Base Pool.
You can have various other utilities within the Yours platform.
For example, you can provide rankings and memberships based on the amount of points purchased, provide additional point discounts for higher tier memberships, or provide low-cost products that can only be purchased with Yours points through external partnerships.
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