# YMT(Yamato DAO Token)

## What is YMT？

YMT (Yamato DAO token) is utility token embeded to Yamato Protocol.

55％ of total supply will be distributed to users who use the protocol to mint CJPY.

Ticker：YMT

Contract address：0x0F4Fc7d24F28C4373097733aAE53f0025D4c9C09\
<https://etherscan.io/address/0x0f4fc7d24f28c4373097733aae53f0025d4c9c09>

DEX link：TBA<br>

### Allocation

![](/files/x0Elnyit4kSRIKZN8ue4)

| Allocation (%) |              Target              |                              Note                             |
| :------------: | :------------------------------: | :-----------------------------------------------------------: |
|        5       |            Developers            |                                                               |
|        5       | Initial Investors (TXJP holders) |                     Airdrop to TXJP holder                    |
|        5       |          DEX LP Rewards          |                Uniswap v3 YMT-ETH Pool $0.1\~$1               |
|        5       |           DAO Treasury           |                                                               |
|        5       |      v1 Retroactive Airdrops     |                                                               |
|       10       |          CurveLP Rewards         |                 2% annual vesting for 5 years                 |
|       10       | Investors for Phase 2 and beyond |                   3 years with 2-Year Cliff                   |
|       55       |           Users Rewards          | 5.5% for Year 1. Distribution at diminishing rate of 10% p.a. |

## What is veYMT？

veYMT is a non-transferable token obtained by locking YMT.&#x20;

1 YMT = 1 veYMT for a lock of up to 4 years. For a one-year lock, 1YMT = 0.25veYMT.&#x20;

It decays over time and the lock period can be extended to a maximum of 4 years at any time, but cannot be shortened or cancelled.

### Purpose of veYMT

Farming boost

YMT gauge voting

Indirect protocol fee acquisition (distribution of collateral through Yamato redemption)


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