VERSION 1.0 - DECEMBER 2021
Note on the White Paper
Y-5 is a community-driven project, therefore constantly evolving. The team is committed to staying ahead of the market with new technology and utility. Y-5 will be constantly evolving and searching for market-leading utilities and use cases. Our white paper will be updated regularly in line with the future of the project.
The advent of the reflection token has been revolutionary in the crypto sphere, introducing an entirely new dynamic to DeFi ecosystems and yield properties. The reflection process provides a constant stream of dividends through the self-generating mechanism, which is derived from on-chain transactional fees. It is this very process that underpins the Y-5 token and ecosystem.
What is Y-5 Token?
The Y-5 token was predicated upon a redistributive philosophy that seeks to reward holders for their loyalty to the project and platform. What makes Y-5 singular in its ability to generate value is that it's the first reflection token to operate using five different yield generation sources. Y-5 will initially reward 13% in BUSD:
The Y-5 management have a long term strategy to create an ever ending yield generating ecosystem. We will do this by creating our staking pools, play-to-earn games. And finally, we will become the first regulated exchange that offers tokenomics. Our team are well qualified in the risk and compliance sector with over a combined 30 years experience.
Primarily configured to redistribute wealth and ownership to the Y-5 community, Y-5 will be able to adapt to market trends by allowing holders to choose their own reflections. Any token with a BSC address will be able to be chosen as a reward through our futuristic dashboard, launching in Q2 2022.
How Does Y-5 Work?
The Y-5 dynamics propagate on-chain transactional fees by assigning the accumulated funds to token holders based on their current wallet holdings. Holders will be able to claim their rewards through the reward dashboard, which will launch in line with the token.
Formulated around a structured ecosystem, the blockchain technology accrues transactional fees, calculates the reward percentages, before dispersing the tokens which the holders can then claim through the dashboard. Assuming the Y-5 transaction volume is continuous, holders should benefit from incremental payments up until they decide to liquidate the token holdings.
The majority of DeFi tokens have a fixed reward system, which means that token transactions are 'taxed', whereby a certain percentage is contributed to a liquidity pool, and another amount is held aside for redistribution amongst token holders. This smart contract protocol fosters what is known as "reflections", a concept that Y-5 will take further by offering five reflections, and ultimately offering the holder to choose which tokens they wish to get reflections in.
What Makes Y-5 Token Different?
Using the Binance Smart Chain, the Y-5 token has 10X quicker block speeds and lower gas fees. Y-5 is proud to be the only yield generation token on the planet to reward its holders in multiple yield generating tokens that the holder can choose.
Establishing a new standard in DeFi token economics (tokenomics) with an innovative token distribution strategy the Y-5 token is intended to be held while profiting investors during periods of anticipated market volatility. And with a universal tax policy, global price actions will result in equal holder rewards.
Binance Smart Chain (BSC)
BSC was created to allow users to use security-based smart contracts at a faster and more efficient rate than other chains. The Y-5 token is a Binance Smart Chain BEP-20 token, which is used as the standard on the BSC.
The BEP-20 standard is a symbolic protocol used by the Binance Smart Chain, one that has grown in popularity due to the low gas fees and lightning-fast transaction times. Decentralized trading on BSC delivers lightning-fast trades at exclusively cheap costs, rendering it one of the most extensively utilized blockchains for Decentralized Finance (DeFi).
Blockchain technology is a distributed database of contracts or a ledger of transactions that have been implemented among all contributing entities. Every transaction in the ledger is verified by the consensus of a majority of participants that the system is comprised of, and once entered, this data is immune to tampering, alterations, and even deletion.
Therefore, it contains an irrefutable and verifiable record of every transaction ever processed. The technology has the potential to revolutionize the digital and financial world by enabling a distributed agreement, all without compromising the privacy of the digital assets and people participating.
The blockchain allows every transaction on the network to exact a 4% cut and divert it into a strategic buyback protocol. The goal of this system is to continually buy back tokens, making the circulating supply that much more valuable.
This advance mechanism can absorb some of the most aggressive sell signals, thus ensuring a steady price floor for traders and holders in the long term. 1% of all transactions will be used to inject liquidity into the ecosystem. The result of which is an improved experience for new entrants and lifelong holders alike.
Decentralized platforms provide users with unprecedented levels of trust and information security. The data outlined on decentralized platforms isn't controlled by one source, but multiple. These regulators perform checks on the network data and facilitate an open and transparent platform.
System failure has long been the bane of popular exchanges, processors, and systems experiencing heavy use, which cultivates perfect conditions for financial losses. Decentralization reduces the likelihood of system failure, counteracting the instability that can quickly arise when important systems go offline.
Centralized exchanges are prime real-estate for cyberattacks, putting the value in your wallet at risk of being lost forever. Y-5 recognizes the vitality of wallet security which is why we provide consumers with comprehensive security measures to ensure their holdings remain in their possession.
Hacking isn't the only problem when it comes to centralized exchanges, as users lack control over their cash. Restrictive policies on these centralized exchanges may result in a variety of financial losses for investors. However, on Y-5, every asset belongs entirely to the holder, including wallet funds and information. Y-5 aims to launch its own decentralized exchange with tokenomics and a complementary wallet.
PinkSale, Audit and KYC
The PinkSale protocol seeks to offer users the resources necessary to launch tokens and build an ITO sale without the need for an exchange. What's so beneficial about PinkSale is that no coding is required. The platform maintains complete transparency by providing a seamless token launch. The creator of a token does not have access to the funds raised from a token launch, they are added to PancakeSwap automatically on presale completion.
We chose the PinkSale platform
directly, due to the array of offers and features that aid overall token launch.
Y-5 will complete the Cetik audit.
Y-5 will KYC the founding team through PinkSale and has already completed the KYC with InterFi Network.
Y-5 Token Utilities
Yield Farming is a cryptocurrency investment strategy that facilitates the hope of bigger returns compared to most conventional investments. This could be the chance for Y-5 token holders to profit by just holding the Y-5 token. We aim to build auto-yielding for up to 5 tokens of the user's choice that will be implemented in the contract at a later date.
The holder will be able to log into our dashboard and choose which tokens they prefer to gain reflections from. Farming in Y-5 token is deemed more dependable than other crypto trading methods, however, most earnings generated by Y-5 token are relatively low risk.
Y-5 will implement the staking method as another instrument for users to earn rewards for their holdings. Staking is a way of verifying transactions for several cryptocurrencies, committing crypto assets to a blockchain network to support and confirm transactions.
By participating in yield farming, token holders can earn passive income on the network. Similar to a regular Proof-of-Stake method, which involves users locking up their tokens to get rewards holders will commit their assets in order to receive bonuses.
Y-5 holders will be able to stake against our Liquidity Algorithm, whereby users can stake a percentage of their tokens as a way to gain access to up-and-coming projects that they may wish to add as a reward token at a later stage. The LP algorithm holds minimal downside by staking the LP tokens and gaining 0.05% of every transaction on the chosen token.
The staking periods will work in cycles and can be set to automated compounding, meaning the algorithm will select new verified projects to stake against for you. Staking as a Liquidity Provider (LP) in new, promising projects is an excellent way to gain exposure and profit without major drawdowns.
The Y-5 project will stay ahead of the curve with decentralized finance by constantly evolving and offering its holders state-of-the-art technology and utilities.
Y-5 will also launch the following next year to complement its utilities:
Regulated Exchange with tokenomics for all BSC tokens.
Wallet with all utility built-in, including the rewards dashboard.
NFT Marketplace is also currently in development.
We will update our whitepaper in line with our products and keep the community updated.
In keeping with our philosophy, we provide a risk-free exchange passage for all token holders and users. Every new square on the blockchain adds to the cryptographic links containing the metadata, making the chain impossible to break or alter. The framework is predicated upon cryptography, decentralization, and community standards, all of which safeguard the arbitrage that takes place within the Y-5 ecosystem.
The manual blockchain configuration of on-chain structures can foster certain errors, whereas meticulous agreement hedges against these inaccuracies. Throughout the contract, we provide complete precision, integrating the structure is to bypass obstacles and provide seamless processing capability.
Y-5 gives customers the chance to achieve on-chain objectives in a fraction of the time. Blockchain-based systems can yield astronomical results when the inputs and network maintenance are done correctly. In this respect, estimation is a vital cog in the mechanics that organize the data, smoothening out errors before they affect Y-5 users.
Most blockchains are entirely open-sourced software, meaning that the code is visible to all parties. This gives auditors the ability to review cryptocurrencies for security. The Y-5 token offers complete transparency to users; therefore, data security is assured. The Y-5 team, who hold 5% collectively, will be doxed as they have been fully KYC audited.
KYC and Audit
KYC (Know-Your-Customer) is most frequently utilized as an austerity measure to hedge against data theft and other forms of fraudulent behavior. While the usefulness and ethical nature of KYC are often debated, being at odds with the general crypto philosophy it's undoubtedly that KYC proves more than useful in protecting customers.
One popular example of this use would be - when a user is unable to access their account on a centralized exchange. KYC, when followed by proper verification, can restore login access and allow the user to retrieve their funds.
Our decision to implement KYC was predicated upon a series of circumstances, ranging from regulations to on-chain platform preferences. The ethical nature of KYC will always be up for debate; however, Y-5 understands its place in the crypto sphere and the team will be fully KYC audited to maintain a secure and user-friendly experience.
Y-5 will be doing a comprehensive smart contract audit to ensure contract metadata is vector-proof and without fault. Our audit will be completed by Certik.
Smart contract audits are often extensive and painstaking assessments of the contractual code used for the interaction of the blockchain. The primary goal of any audit is to uncover errors and security flaws to successfully implement a series of fixes and upgrades that will improve the overall functionality and safety measures of the eco-system. Typically necessary among crypto start-ups, Y-5 wants assurance that the contracts pegged to financial assets aren't susceptible to any external attacks or viruses.
The complexity of an audit is down to the intractability of smart contract mechanics, as the interact properties and third-party integrations with off-chain systems can also diminish the platform's stability. These checks usually include both running tests and manual code analysis.
The Y-5 token is the core of the Y-5 ecosystem. Designed as a utility reward token, as well as a long-term reserve asset, it supports all the project's utilities and will be used as a means to stake, collect rewards and transact on the ecosystem. It serves as an engage-to-earn token, which incentivizes long-term holders to use it for long-term profit-making.
By holding Y-5 alone, users will initially receive 13% in BUSD. This will then change to allow holders to choose which tokens they receive rewards in once our dashboard is released in Q2 2022. This will ensure Y-5 token will always stay ahead of the market.
The Y-5 token is forked from the Binance Smart Chain in order to build an intertwined digital economy that is owned and governed by its participants while providing guaranteed dividends to token holders.