Y24.io, Liquid ReStakign Protocol
Permissionless Liquid Staking Token share passive income of up to 86% APY!
Yield 24, a protocol operating on EVM-compatible chains like BNB, ETH, and Polygon, introduces restaking as a novel cryptoeconomic security primitive on both L1 and L2. This innovation allows the optimisation of assets such as BNB, ETH, BTC, and stable coins at the consensus layer. Users staking their blue-chip tokens directly or through a liquid staking token (LRT) have the option to engage with Y24 smart contracts, enabling them to restake ETH, BNB, BTC, stable coins, or LRT. This extends cryptoeconomic security to various applications on the network, including RWA’s (Real World Assets), securitization, trenches, staking, borrowing/lending, and provides an avenue to earn additional rewards.
Y24 Key Features
- Liquid ReStaking Token (LRT)
- Real World Assets (RWA’s) — Securitzation
- Leverage Staking
- Bitcoin Staking
- Lending Borrowing
- Y24 LRT’s Staking
- Y24 Bridge
- Trenches Pools
- Governance
Tokenomics
To efficiently facilitate community rewards as well as governance, there will be two classes of tokens associated with Yield 24: Y24, the utility and Governance token of the Y24 DAO.
▶ Token ticker: Y24 ▶ Total supply: 50,000,000 Y24
- Liquidity Provider rewards (18,000,000 Y24) are used to bootstrap liquidity and reward Yield 24 LPs.
- Community incentives (17,000,000 Y24) will be used for various campaigns and mechanisms to focus on user acquisition, user retention and most importantly trading volume growth. For example, the “Refer & Earn” campaign will let users create their unique personalized referral link and send it to friends and followers to start earning Y24 tokens. Likewise, the “Trade & Earn” campaign rewards trading activity, where users will receive rewards based on the realized trading volume.
- Presale Allocation (7,500,000) We intend to secure funds through a launchpad to allocate resources for initial liquidity, marketing, and development expenses.
- Strategic Partnership (2,500,000 Y24) has been set aside for high-profile external contributors who can not only help Yield 24 financial but also help on strategic matters (partnerships, CEX listings, BNB Ecosystem . If you would like to contribute to the Yield 24 project.
- Team allocation (5,000,000 Y24) has a 4-year unlock duration and is used to incentivize and align some of the most capable minds in the industry. Team tokens unlock starts in 12 months, in December 2023.
FAQ’s
What is Y24?
Y24 represents a suite of open-source peer-to-system software tools actively deployed on EVM-compatible chains such as BNB Chain and Ethereum, among other blockchain networks. This software empowers users to mint transferable utility tokens, garnering rewards tied to the validation activities associated with recording data on the blockchain. Furthermore, these tokens are versatile and can be utilized in various on-chain activities.
How does Y24 work?
Although the functionality may vary across networks, the typical operation of Yield24 protocols involves aggregating user tokens for staking with validators and directing these staking packages to network staking contracts. Users generate yBNB in proportion to the tokens staked, earning corresponding staking rewards. Upon unstaking, users initiate the network-specific withdrawal process by burning yBNB, enabling them to withdraw both the stake balance and accrued rewards.
What is yBNB
yBNB stands as a transferable rebasing utility token, symbolizing a portion of the overall BNB staked within the protocol. This encompasses both user deposits and staking rewards. The daily rebasing nature of yBNB serves as a daily indicator, effectively communicating the current standing of the share.
How can I use yBNB?
You can use your yBNB as collateral, for lending, investing in RWA’s assets, trenches, staking and many other DeFi applications
How can I unstake yBNB?
Utilize our Withdrawals Request and Claim tabs to unstake yBNB, obtaining BNB at a 1:1 ratio. Additionally, you can claim your ETH through the designated Claim tab.