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Platform Feature Overview

The following overview of three features should shed some light on similar, yet different aspects of the platform.

Minting youves Tracker Tokens#

Eligible collateral can be locked in a vault to mint youves tracker tokens. Minters can earn the YOU, the governance token of youves. Every week a fixed amount of YOU are issued that minters can claim. This number will halve periodically and as a consequence there is a limited supply of YOU. As there will likely be fewer minters in the beginning, more YOU will be allocated to the first movers. Finally in case the youves tracker tokens trades significantly below the target level, minters have a right to convert your youves tracker tokens to locked collateral. Conversion rights are not at the target value of a youves Tracker Token, but they protect holders from prices that are no longer stable, and allow you to access the collateral which is backing the youves tracker tokens. More information can be found in minting and burning.

Below an illustration showing the relationship of minted amounts and claimable YOU tokens per 1 uUSD per week while the YOU distribution rate is at 40,000 YOU per week.

Required Minted Amount for 1 YOU

Saving youves Tracker Tokens#

youves tracker tokens can be created through minting or they can be bought on a DEX. This allows to diversify crypto holdings on-chain and it also pays an interest or lending fee. For that, holders of youves tracker tokens have to lock their youves tracker tokens into a savings contract on youves and will receive the asset interest rate. The savings contracts are systemically relevant, they are functioning as the pool of youves tracker tokens that will be used for the conversion rights for minters. The allocation of interest follows an incentive curve that reduces the yield with an increasing number of youves tracker tokens locked - again, first movers get more. Minters eventually have to buy back youves tracker tokens to close their vaults. To protect them from high prices of youves tracker tokens relative to the target price, minters have the right to buy back tracker tokens at a price fixed relative to the target price. Only the youves tracker tokens which are put into the savings pool are available for conversion via the bailout / minter conversion right. More information can be found in interest rate applied.

Below an example with a 5% p.a. interest rate.

collateral story 6

Staking YOU#

YOU is the governance token of youves and you can either be earned as a minter or be bought on a DEX. YOU tokens are limited in supply and allow holders to govern the youves platform (refer to the governance section above). YOU also provides access to platform revenues. There are two revenue types: minting fees and a spread on the interest. All revenues are collected by a smart contract and distributed to holders of staked YOU tokens. If a user decides to stake YOU on youves, they will receive portion of the platform’s revenues in uUSD. And similar to the savings contract, youves applies incentives that treat early movers preferentially. More information can be found in governance token examples.