Tokenomics

What is the YLD token and how is it used on the lending platform?

YLD is the native token of the Yield fixed-rate lending and incentivized borrowing platform.

Token Minting

After repayment, the borrower can claim ~4% worth of the interest in YLD (up to the cap which is dependent on the current market price of YLD).

How to buy YLD

Requirements: Non-Custodial wallet, such as MetaMask, Portis, Trust Wallet and others. If you don't have one, download either one of the wallet apps mentioned above and send ETH to this Non-Custodial wallet. Coinbase Wallet and Ledger Mobile are known to have issues connecting. If they are your main wallet and you experience issues connecting, please try switching to another wallet.

  1. Go to https://yield.credit and click Buy YLD in the menu

  2. You will be transferred to the Sushi SwapExchange. Accept the updated Token List and now press Trade

  3. Use the Connect button to connect an Ethereum wallet such as the wallets mentioned above under requirements.

  4. To purchase YLD, hit trade located at the top left of the screen as seen in the image below. Now click 'Choose a list and select SushiSwap Menu. In the search field, type in YLD and click YLD. (Caution: please make sure you choose the correct YLD ~).

  5. Enter the amount of YLD tokens you would like to purchase and click Swap. Preview the transaction

    in the pop-up window and then confirm the request directly from your wallet.

  6. Next, wait a little for the transaction to be finalized on the Ethereum blockchain. You can check the status of your transaction on Etherscan.io

Supply

YLD is a dynamic supply token with no cap. The supply inflates as borrowers earn (“mint") new YLD for the loans they've repaid. To keep this in check, 100% of the fees charged on the platform are used to buy-back YLD from the market and burn it, permanently removing that from the supply.

Loan Market Conditions determine whether the overall supply is inflationary or deflationary at any given time:

Net Supply Change = (Tokens Minted for successfully repaid loans) - (100% of the fees on the platform are used to buy back and burn YLD)

The YLD Supply Calculator at dashboard.yield.credit demonstrates how Loan Market Conditions affect the supply.

YLD Fee Discount

Lenders and borrowers that stake YLD receive discounts on the platform fees. In addition, borrowers get lower liquidation ratios and an increase in the amount of YLD they earn per loan.

Token Distribution

Yield is a community run platform that started with an airdrop. There was no token sale – private, pre, seed, public etc. - of any sort. It is also neither a startup nor a VC-backed project.

  • 350K — the do-everything allocation (“team”, liquidity mining, bounties, marketing, etc.)

  • ~118k - Airdrop 1

  • 50K – airdrop round 2

  • 60K – liquidity mining

  • 75K – used to start the inital Uniswap pair, YLD/RFI