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:TBA
DEX link:TBA
Allocation
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.
1 YMT = 1 veYMT for a lock of up to 4 years. For a one-year lock, 1YMT = 0.25veYMT.
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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