As we continue to make waves in DeFi with a novel approach to launch and execution, today we outline the details of YOP Vault, our custom built staking product.
So you might be thinking many projects offer single asset staking. YOP is launching a single asset vault too. What is different? Two big things. We are committing the entire reward amount 100%. Often projects announce large APY reward plans, but if they are not taken up within a set date, the balance goes back to the project. Today we are committing 1 Million $YOP tokens to the YOP Vault smart contract forever. That means that no matter what the take up is, these tokens will not come back to the project. An effective burn if not claimed.
The second difference that there is no fixed end date to the contract. The YOP Vault is governed by participation. Until every $YOP token in the contract is claimed it will remain open. As we are committing the 1 Million $YOP tokens forever with no option to claim them back.
In addition to the unique approach we also have built from ground up a custom staking application. With several offers to use off the shelf staking solutions, after reviewing them all we were not satisfied with the products. So we decided to build our own! This approach has several benefits. We can customise the application to our own requirements, brand our staking, add more assets later and grow the YOP Vault into an independent product. Potentially even generate revenue by providing Staking as Service for other projects. We intend to add more pairs with partnerships and collaborations bolstering our position in DeFi.
Today we launch our completely custom built staking application, YOP Vault.
- Initial Reward Pool 1 Million $YOP Tokens
- $YOP Single Asset Stake
- 133% Annual APY
- 6% 30 Day Lock Fixed Yield
- 15% 60 Day Lock Fixed Yield
- 33% 90 Day Lock Fixed Yield
- YOP Vault: staking.yop.finance
The contract will remain open until all 1 million $YOP has been rewarded to stakers. Depending on participation this can be 90 days or more. The numbers would range from 34090 individuals staking a minimum of 88 YOP each and 90 individuals staking a maximum of 33,333 YOP each. That would lead to 3 million $YOP being staked, 30% of the circulating supply!
The YOP Vault will also be integrated into the much anticipated V0 launch of the YOP app. Look out for more news on that in the coming weeks. For now get staking!