Y2K is one of my favourite protocols to use every week, they've been building and adding more features to their dApp and I think have the potential to only grow further.
Let's cover the state of @y2kfinance and see what they're working on.
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Let's cover the state of @y2kfinance and see what they're working on.
๐งต๐งต๐งต
In this thread we will cover
- What is Y2K?
- How to use Earthquake
- vlY2K
- Bonds
- Upcoming catalysts
- What is Y2K?
- How to use Earthquake
- vlY2K
- Bonds
- Upcoming catalysts
2/ As a recap for those unware. Y2K is a DeFi project on Arbitrum providing users with derivative products based around the peg of 'stable' assets.
This is an expanding list which not only includes a variety of stable coins but also more exotic assets with WBTC, stETH and USDD.
This is an expanding list which not only includes a variety of stable coins but also more exotic assets with WBTC, stETH and USDD.
3/ They have their main product Earthquake which allows users to essentially buy / sell insurance for the de-pegging of these assets via CAT Bonds.
Y2K have in house maths on the strike prices for these assets
Y2K have in house maths on the strike prices for these assets
4/ Participating in their weekly or monthly vaults is easy.
Choose either Hedge (buy insurance) / Risk (Sell Insurance)
Select an asset & weekly/monthly vault
Select strike price
Deposit ETH
Wait for period to end, you either win or lose depending on if the asset depegs or not.
Choose either Hedge (buy insurance) / Risk (Sell Insurance)
Select an asset & weekly/monthly vault
Select strike price
Deposit ETH
Wait for period to end, you either win or lose depending on if the asset depegs or not.
5/ Each Epoch generates fees for Y2K
โข 5% of Hedge Vault deposits
โข 5% of Risk Vault deposits upon a depeg event
- no fee is charged if peg is maintained
50% of this goes to vlY2K token holders!
โข 5% of Hedge Vault deposits
โข 5% of Risk Vault deposits upon a depeg event
- no fee is charged if peg is maintained
50% of this goes to vlY2K token holders!
6/ $Y2K has a max supply for 20million, currently around 1.5m in circulation.
Y2K can be paired with ETH in the 80:20 Balancer pool and locked for either 16 or 32 weeks created vlY2K tokens - the revenue generating assets for the protocol.
Y2K can be paired with ETH in the 80:20 Balancer pool and locked for either 16 or 32 weeks created vlY2K tokens - the revenue generating assets for the protocol.
7/ How much has the protocol made?
Over 1/2 a million in revenue. Not bad. 50% goes to token holders.
Over 1/2 a million in revenue. Not bad. 50% goes to token holders.
8/ Y2K offer Bonds via Bond Protocol.
Provide USDC -> Get cheaper Y2K
Build treasury, no need to dump assets
Win Win for Protocol + Investors
Provide USDC -> Get cheaper Y2K
Build treasury, no need to dump assets
Win Win for Protocol + Investors
9/ What next for Y2K?
Introducing more assets = more potential revenue
They also have the upcoming Wildfire product - A Marketplace for users to enter and exit their weekly/monthly vaults via an order book system.
- Further LSD support?
- Tsunami
- @redactedcartel hidden hand?
Introducing more assets = more potential revenue
They also have the upcoming Wildfire product - A Marketplace for users to enter and exit their weekly/monthly vaults via an order book system.
- Further LSD support?
- Tsunami
- @redactedcartel hidden hand?
10/ Y2K is one of the more innovative protocols I've seen around. Of course you expect that given the high calibre of @neworderDAO Protocols.
Let's see what they build next!
Let's see what they build next!
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