Please review Disclaimer: Risk of Using Protocol and Terms of Service before using the Yeti Finance and/or interacting with YETI or YUSD. Yeti Finance & YETI/YUSD are not avaliable in the U.S.
$YUSD is an over-collateralized USD-pegged stablecoin issued by Yeti Finance. It has multiple mechanisms to keep its price stable and pegged at $1. YUSD can be minted by depositing collateral on Yeti Finance.
$YETI is the Yeti Finance protocol token. In the future, $YETI will transition into a governance token.
Users can stake YETI to earn more YETI while also accruing veYETI over time. Staking YETI for more YETI will end once veYETI utility is live.
veYETI can be be used for three things:
(1) Boosting $YETI rewards for stability pool staking
(2) Boosting $YETI rewards for liquidity providing for YUSD.
(3) Exchange veYETI to get access to borrowing against high-demand collaterals i
The veYETI model is designed to incentivize users to accumulate and stake $YETI through providing real utility to farmers and protocol users. When you unstake YETI, you lose your veYETI balance, similar to vePTP and veJOE.
Users can begin accumulating veYETI at launch. Users staking at launch can get a head start on accumulating veYETI for its extensive utility implementations.
50% Community Incentives: Liquidity mining incentives, long-term liquidity providers, genesis liquidity providers, and grant programs.
25% Current and Future Team: This allocation linearly vest over a three year schedule with a 3-month lock. This allocation will be split amongst a core team of eight, non-core contributors, and future team members.
15% Foundation: Development cost, economic security, smart contract auditing, service providers (legal), operational expenses, and partnerships.
1.17% Strategic Partners: Avalanche Foundation, Genesis Block Ventures, Trader Joe, and the founders of BENQI (Hansen, JD, Dan) are the partners who have financially and non-financially supported Yeti Finance since the beginning. Strategic partners will have the same vesting schedule as the team and will continue to advise on future growth of the protocol.
8.83% Future Strategic Partners: This allocation is set aside in the case it would be definitively beneficial to everyone to bring in additional strategic partners. All future partners will be on a vesting schedule. If not used, this 9% will be divided amongst the Foundation and Community Incentives pool.
YETI has a max supply of 500,000,000 tokens.
Our community emissions schedule will look something similar to the schedule below. The schedule is front-loaded to bootstrap the protocol, with a higher emissions rate initially, and then a constant emissions rate for the next four years after that of 5,000,000 YETI emitted per month. Token emissions will begin in April 2022.
Emission rates remain subject to change depending on market conditions.
We will be allocating roughly 70% of all Yeti emissions to Curve liquidity for the 6 months of the protocol, 20% to the stability pool, and 10% to Trader Joe pools — and then re-evaluate from there. Below is our rough targeted emissions schedule, though it is subject to change. The idea is that the first 3 months of the protocol will be a bootstrapping period with elevated emissions, and from then on we will be sticking with a slower, sustainable emissions rate.
Emissions in Month