YFX V4 will open it’s earning system first time on Arbitrum at 0:00 UTC, 2024–05–23. Announcements will be made before expanding to other blockchains. UTP and URP earned through transactions before the launch of earning system can be deposited into the mining pool for early mining.
About YFX Token: The total supply of YFX is 100M. Previously, 48M were minted, 11M were burned over the past three years, leaving approximately 37M currently in circulation. The community holds 50M YFX, with 7M already distributed. This mining phase will release 27M YFX + iYFX over the next six months. iYFX will mature through a vesting period within three months after claiming.
About Mining: Mining will occur in three phases, lasting 180 days in total, with 27M YFX + iYFX mined. Continuation of mining will be determined by community vote.
To ensure mining sustainability, Position Mining and Trade Mining will experience decay mining, with a daily decay factor. For example, if address A stakes 100 UTP on the first day with a decay rate of 50%/5 days, A’s UTP amount will decrease to 50 UTP by the fifth day. The overall system decay factor is 50%/5 days.
Mining Modules:
- YFX Staking: Stake YFX to mine 30% of platform fee WETH (updated weekly) and 50% new iYFX. iYFX must be staked as sbfYFX for vesting, releasing within one year.
- Position Mining: Hold positions to mine; each trading pair has different mining quotas (see page for details). Position Mining is decay mining, halving every 5 days.
- Trade Mining: Earn 1 UTP per 1 USD traded (only Linear and Inverse contracts). Trade Mining is also decay mining, decaying every 5 days.
- LP Mining: Add liquidity and hold YLP to mine; each trading pair has different quotas (see mining page for details). Shares are calculated based on leveraged USD value.
- UniSwap LP Mining: Stake Uniswap YFX/ETH 0.3% trading pair NFT LP to participate. Liquidity range must be 0-∞.
- Lock YFX: Newly mined YFX has a lock period. Early unlocking requires burning some YFX.
System Token Introduction:
This mining phase is the largest since the V1 Genesis Mining, distributing over 80% of YFX. V4 is a revolutionary version, greatly enhancing system fairness and capital efficiency. Before mining, a large-scale airdrop will be conducted for some Arbitrum users.
This mining phase focuses on YFX Staking, Position Mining, Trade Mining, LP Mining, UniSwap LP Mining, and Lock YFX modules, mainly mining YFX, iYFX (immature YFX), and WETH (transaction fees).
YFX Team
Media Links:
Website: www.yfx.com
Telegram: https://t.me/YFX_COM
Others: https://link3.to/yfxcom
