August is coming and you still don’t know where to go on holiday? Discover WeRoad trips with Club Benefits!
Planning holidays at the last minute is never a good idea. Luckily, Young Platform can save your holiday with WeRoad trips!
What is WeRoad?
As well as being one of the most important Italian Tour Operators, also present in France, the UK, Germany and Spain, WeRoad is the largest community of travellers in Italy.
Forget the old agencies that print your tickets by fax, crumpled brochures or buses full of tourists: with WeRoad you book and manage your entire trip online!
On WeRoad you find trips for curious and adventurous spirits, who want to discover the world with new people and an experienced travel coordinator without having to worry about the organisational side.
How does the benefit work?
Thanks to the partnership with Young Platform, Club members can enjoy a unique advantage on WeRoad travels.
This is a coupon that can be used for 3different trips, the value of which varies depending on the Club:
The report for the second quarter of the YNG token, featuring an in-depth look at the Clubs and the latest news!
In June, the Young (YNG) token celebrated its first anniversary. What happened in the last quarter? How many tokens were issued, bought, and sold? What goals have we achieved, and what are the next steps? You can find a comprehensive overview in this report, prepared in early July 2023.
Numbers of Young Platform Clubs
YNG is Young Platform’s utility token, granting access to the Clubs: subscription plans offering exclusive benefits to our most dedicated supporters.
Currently, the Clubs include 1525 people overall, distributed as follows:
1099 in the Bronze Club;
220 in the Silver Club;
133 in the Gold Club;
73 in the Platinum Club.
To join a Club, it is necessary to lock a certain amount of YNG on the Young Platform exchange. For this reason, the number of members provides relevant data regarding the token distribution. In other words, the more people join a Club, the lower the selling pressure on YNG, as a greater quantity of tokens is locked. What is the main consequence? Greater price stability for YNG. Compared to the last report, Club membership has grown by 12%.
Distribution of the YNG Token
The number of YNG tokens in circulation at the end of March was approximately 22 million. The circulating supply at the beginning of July amounts to around 22.7 million, indicating a net increase of about 700,000 tokens, or 3.1%.
These tokens have been distributed through the Young Platform Step app in various ways:
15,840 through Quizzes won;
400,157 through completed Quests;
270,250 through Up&Downs won.
The YNG token market is managed through an algorithm that determines the exchange rate using two underlying liquidity pools, one in EUR and one in YNG. Initially, these pools contained:
1 million Euros;
4 million YNG.
Considering the token sales and purchases managed in previous months, the pools contained the following at the beginning of July 2023:
695.3K Euros;
6.01 million YNG.
This configuration is the result of purchases and sales made during the first quarter, summarized below along with the price trend:
Achieved Goals and Next Steps
We have accomplished numerous goals in this second quarter. We released the Fiscal Report in Italy, a tool that greatly simplifies the tax declaration of crypto assets. The new version of Step has arrived, and we have resumed listing other cryptocurrencies on our exchange. Additionally, we have completely revamped our Discord server and are about to release new benefits in the form of coupons. The spoilers end here; discover in detail all the goals we have achieved during this quarter and what lies ahead in the next.
Discord
Our Discord server was initially created primarily as an assistance channel, but given the tremendous potential of the platform, we have decided to completely restructure it. For a few weeks now, the Young Platform Discord server has been dedicated to our community. The keywords of the new version are simplicity, discussion, and gamification.
Users who are already on the server may have noticed the presence of a leaderboard, ranking server members based on their XP (experience points).
To earn experience points, for now, you can:
Participate in conversations;
Assist other users;
Post memes on the dedicated channel;
Guess the survey answers.
But we have many other ways in store to earn XP, including:
Winning meme contests or quizzes;
Interacting with our social media content;
Inviting friends to join the server.
Now, let’s get to the most interesting part and answer the main question: what is the purpose of this ranking? We will use the leaderboard to reward the most active users of the server, those who are most committed to growing our ecosystem.
Some of the rewards that may arrive during this quarter include:
YNG Airdrop;
One month of free Club membership;
Exclusive merchandise.
But the surprises don’t end there! We are creating an exclusive Discord role for Club Platinum members. In case you are unfamiliar with it, the role is like a pass that allows access to normally invisible sections. Thanks to this status, you can use the dedicated channel to communicate directly with our team and other major supporters of Young Platform.
Twitter
Twitter will become the primary social platform for promoting the YNG token. It will be the place where we strengthen collaboration with prominent industry members who already support us and establish new collaborations. Additionally, we are implementing an automatic reward system (connecting Twitter and Discord) to reward users who help us grow on the platform.
We post daily content and memes on our Twitter profile. Don’t forget to follow us!
Buyback
Buyback operations to incentivise the YNG token exchange will begin next week! Two different types of interventions will be executed. The first will be a “one-shot” repurchase operation aimed at balancing the amount of EUR allocated to the pool. The second is a mixed operation involving periodic token repurchases.
Through the first buyback, which will last four weeks, four weekly purchases of €15,500 will be made, totalling €62,000. Immediately after, we will place a limit order to use the remaining half. We have planned this type of buyback to support the price achieved through the first purchase and avoid the pump and dump phenomenon. If, at the end of the week, the limit order is not completed 100%, we will market buy the remaining token portion to complete the operation.
A portion of the tokens repurchased will be used to finance campaigns aimed primarily at rewarding the community and its most active members.
Fiscal Report
In May, we introduced the “Fiscal Report” feature for Italy, which simplifies the declaration of capital gains and losses by providing the document for tax filing in PDF format. The Fiscal Report was developed in collaboration with Taxtris.
The New Version of Step
The release of the new version of Step, which we have been working on since last year, is closely tied to the future of our token. This update, through new token issuance methods, will gradually reduce the selling pressure on YNG, which is already much milder compared to the post-launch period.
Airdrops & Coupons
In the third quarter of 2023, other incredible benefits will be available to Club members in the form of coupons. The announcement of the first collaboration is imminent (presumably next week), so follow our blog and social channels.
Another goal we have is the redistribution of Young tokens repurchased through the Buyback. This will also be achieved through airdrops designed to reward members of our community.
Token tracking (CoinMarketCap and CoinGecko)
In this quarter, we have continued to prompt CoinMarketCap and CoinGecko every week. This activity has yielded some results, although to a lesser extent than expected. We are currently listed as an exchange on CoinMarketCap, while the YNG token appears on CoinGecko, although trade volumes are not available for both pages at the moment. We are in contact with the respective teams and believe it will be possible to complete this activity by the end of this quarter.
YNG Listing
Thanks to the initiatives that have allowed us to mitigate selling pressure, we are evaluating listing our token on other exchanges. As mentioned in the previous report, we have engaged with several centralized exchanges. However, we do not expect to conclude this activity before the end of the quarter because we are simultaneously considering entering the decentralised market (DEX).
Earning Wallet
The Product team is working on the new version of the “Earning Wallet” feature, as The Product team is working on the new version of the “Earning Wallet” feature, as previously mentioned in our last report. Our goal is to provide a decentralised solution so that we can manage the service without the help of intermediaries or external providers. The technology solution to be integrated has already been identified; however, the implementation timeline is dependent on the outcome of regulatory bodies, namely the AdE (Italian Revenue Agency), which evaluates the tax and regulatory aspects, and the CONSOB (Italian National Commission for Companies and the Stock Exchange), responsible for implementing the Fintech decree.
You can now buy Optimism (OP) on Young Platform! Here’s all you need to know
On Young Platform and Young Platform Pro comes Optimism (OP), available immediately for purchase, custody and sale.
We continue the summer listings with another Ethereum Layer-2 project (the first was Arbitrum). So let’s see what you need to know about Optimism, and how you can use it on Young Platform.
Optimism (OP): all you need to know
Let’s start with a bit of history: the idea of building Optimism was born within the ETH community, and even more precisely by collaborators of the Ethereum Foundation. It was in this environment that the members of the first core research team met. These are the people who invented the optimistic rollup.
In fact, this is the first protocol to use these rollups to execute Ethereum transactions in a fast, convenient, congestion-free manner, in a word: scalably.
OP is thenetwork token with which you can participate in thegovernance of the project. In other words, if you have OP you can contribute to decisions on Optimism updates and the use of community funds, using tokens to vote.
In concrete terms, what are the main advantages ofusing Optimism (OP) for you?
Transferring OP and other ERC-20 tokens via the OP Mainnet instead of the Ethereum network will cost you less, especially at times when the latter is particularly busy.
You can use the main Dapps built on Ethereum (and others) while spending much less for token swaps or other transactions
If you do not like something about Optimism, you can use OP to propose and vote for changes to its ecosystem. You have the right to speak up!
How to use Optimism (OP) on Young Platform?
Here are all the features available for Optimism (OP) on Young Platform and Young Platform Pro:
ARB, the Arbitrum token, is now available on the Young Platform exchange! Here is all the info you need
As of today, the Arbitrum token (ARB) is available on Young Platform for purchase, custody and sale, whenever you want.
Yes, we’re finally resuming with new listings! We’ve chosen to start things off with ARB, a token that was recently launched and has been enthusiastically received by the crypto community in recent months.
Learn all about this cutting-edge project, what its benefits are and how to use it on Young Platform.
Arbitrum (ARB): the benefits and use cases
Arbitrum (ARB) is a project created to increase the scalability ofEthereum, and is built on top of the latter. This means that with its Layer 2 blockchain it is possible to carry out all the activities that are normally carried out on Ethereum, such as sending transactions or using decentralised applications, but in a cheaper and faster way.
Similar projects to Arbitrum (ARB) are Polygon (MATIC) and Optimism (OP), also Ethereum Layer-2s. Although Polygon has a very strong market capitalisation and innovation capacity, Arbitrum has a higher TVL, i.e. value locked on the chain (at the time of writing). Compared to Optimism’s token, on the other hand, ARB immediately ranked higher on the market, as well as for TVL.
Arbitrum bases its security system on Ethereum and is highly compatible with its applications, programming languages and smart contracts. This is why it has enormous adoption potential and already demonstrates high volumes: on the one hand, it is very easy and convenient for developers already familiar with Ethereum to switch to Arbitrum and thus enrich its ecosystem of services; on the other hand, crypto users using its network save on all transactions and can use a large number of apps with agility.
The advantages ofthis blockchain are clear: low fees, speed and flexibility. Let’s see now how to use the ARB token.
The main purpose with which it was launched in March 2023 is governance. It can be used to vote on decisions about the future of the project, such as protocol updates, use of the treasury and more.
The way this governance token works is simple: the more ARB tokens you have, the more power your vote will have, and you can delegate your tokens to allow other people to vote.
This is possible because, along with the ARB token, a DAO was also established to begin decentralising themanagement of the ecosystem, which was previously in the hands of just Offchain Labs and the Arbitrum Foundation.
Let us now see for which operations Arbitrum (ARB) is available on Young Platform.
How to use Arbitrum (ARB) on Young Platform?
Here are all the features available for Arbitrum (ARB) on Young Platform and Young Platform Pro:
Do you have any doubts or questions about the new Moneyboxes? Here’s a summary of what’s new, straight to the point!
You can find all the important information in the official announcement about the Moneyboxes, but if you missed any details or want more, here is a list of possible questions and their answers.
What does the promotion on Moneyboxes consist of?
Until 30 June, purchases via Bundles are free of charge: this means that you pay no purchase fees for both recurring and one-off purchases made to top-up the Bundles.
The discount does not apply to Single Coin Moneyboxes.
If you already have a discount on purchases, they cannot be added up.
Why has the balance of my old Moneyboxes been reset?
In order to implement the new Moneyboxes, some changes had to be made to the existing Moneyboxes.
If you had a Moneybox with an associated active recurring purchase, the balance set aside until 4 May 2023 was transferred to the Spot Wallet of the respective cryptocurrency. The Moneybox remains active, as does the associated recurring purchase. Recurring purchases will restart at the set frequency.
If you had a Moneybox without an associated recurring purchase, the total balance of the Moneybox was transferred to the Spot Wallet of the respective cryptocurrency and the Moneybox was closed.
What has changed from the old Moneyboxes?
The main change is the possibility of building a Moneybox containing more than one cryptocurrency. The possibility of including only one, however, is still available with the ‘Single Coin Moneybox’.
Which cryptocurrencies are compatible with the Moneybox?
Bitcoin (BTC)
Ethereum (ETH)
Young (YNG)
Ripple (XRP)
Cardano (ADA)
Polygon (MATIC)
Dogecoin (DOGE)
Polkadot (DOT)
Uniswap (UNI)
Decentraland (MANA)
The Sandbox (SAND)
Aave (AAVE)
Chainlink (LINK)
Litecoin (LTC)
Avalanche (AVAX)
Axie Infinity (AXS)
Basic Attention Token (BAT)
Solana (SOL)
Pax Gold (PAXG)
Fantom (FTM)
Arbitrum (ARB)
Optimism (OP)
What are Curated Bundles?
Curated bundles are ready-made mixes of cryptocurrencies, united by structure and application of the associated crypto projects.
The available Curated bundles are the following:
Web3 (DOT, LINK, UNI, BAT, MANA)
Metaverse (SAND, MANA, AXS)
PoW (BTC, LTC, DOGE)
Smart Contracts (AVAX, ADA, ETH, DOT, MATIC)
DeFi (AAVE, UNI, LINK)
Popular (BTC, ETH, YNG, XRP)
Artificial Intelligence (NEAR, RNDR, GRT)
How many Moneyboxes can I create?
Single Coin Moneybox: 1 per available cryptocurrency
Curated bundle: 1 per type
Bespoke bundle: no limits
How many cryptos can I put in one Bespoke bundle?
2 to 5.
How do I decide the percentages to be allocated to each cryptocurrency in the Bespoke or Curated bundles?
There is no one-size-fits-all method: study the cryptocurrencies you choose to put in, their risk and return, and how much you are willing to spend on each. If in doubt, you can always choose Single Coin Moneyboxes.
How do you create a Curated bundle?
Access the Moneyboxes section;
Press the green ‘+ New Moneybox’ button;
Select ‘The Curated Bundle’;
Choose the bundle you prefer;
Select the percentage that each cryptocurrency will occupy within the new bundle;
An indication of the minimum amount to be respected will appear, remember it for the next steps;
Choose the frequency of recurring purchase;
Select the payment method for recurring purchase;
Enter the amount of the recurring purchase, respecting the minimum amount specified previously. The amount entered will be distributed over the different cryptocurrencies according to the percentages you specified previously;
Press ‘Moneybox Preview’ and check that all details are correct;
Press ‘Create Moneybox’ to confirm and proceed with the first purchase.
How do you create a Bespoke bundle?
Access the Moneyboxes section;
Press the green ‘+ New Moneybox’ button;
Select ‘The Bespoke Bundle’;
Select the cryptocurrencies to be included
Proceed by clicking on ‘Set Distribution’.
Select the percentage that each cryptocurrency will occupy within the new bundle;
An indication of the minimum amount to be respected will appear, remember it for the next steps;
Choose the frequency of recurring purchase;
Select the payment method for recurring purchase;
Enter the amount of the recurring purchase, respecting the minimum amount specified previously. The amount entered will be distributed over the different cryptocurrencies according to the percentages you specified previously;
Press ‘Moneybox Preview’ and check that all details are correct;
Press ‘Create Moneybox’ to confirm and proceed with the first purchase.
What payment methods can I use to create Moneyboxes?
You can top up your Moneybox via Young Platform’s EUR Wallet or by payment card.
What is the minimum amount with which I can create a Moneybox?
Single Coin Moneybox: 20€
Curated bundle and Bespoke bundle: variable according to the cryptocurrencies chosen and their minimum amount. It will be indicated when the chosen cryptocurrencies are distributed.
What is the maximum amount I can put in a Moneybox?
The maximum amount that can be selected for a single or recurring purchase is 250€, however the total balance of the Moneybox has no limit.
How do you edit a Moneybox?
Changing the recurring purchase: from the relevant Moneybox page you can change the recurring purchase by deactivating and reactivating it.
Adding or removing cryptocurrencies: from the relevant Moneybox page, press the ‘Transfer’ button
Changing percentages, cryptocurrencies or other changes: from the relevant Moneybox page, deactivate the recurring purchase, then go to the Moneybox settings by clicking on the wheel icon and close the Moneybox to reopen it with the desired settings.
How do you close a Moneybox?
From the relevant Moneybox page, deactivate the recurring purchase, then go to the Moneybox settings by clicking on the wheel icon and confirm deletion.
What happens if I close a Moneybox?
The cryptocurrencies contained in the Moneybox will be moved to the Spot Wallet. They will neither be sold nor converted.
Is recurring purchase activation compulsory?
Activation is automatic when the Moneybox is created, but you can deactivate it whenever you wish. Simply go to the specific Moneybox page and click on the tick next to ‘Recurring Purchase’ and confirm to deactivate it.
What is the difference between Moneyboxes and recurring purchase?
Recurring purchase is the ability to automate a purchase of any cryptocurrency or Moneybox, regularly. While the Moneybox is simply the section in which to store cryptocurrencies without trading them, recurring purchase is the functionality that allows you to top-up a Moneybox constantly. However, recurring purchases can also be set up on the Spot Wallet.
What is the difference between Spot Wallet and Moneyboxes?
From the Moneybox you cannot sell cryptocurrencies: you must first move them to the Spot Wallet.
Furthermore, in the Spot Wallet it is not possible to create groups of cryptocurrencies and buy them together automatically following their statistics.
What is the difference between the Single Coin Moneybox and the old Moneyboxes?
There are no substantial differences: both allow you to create a Moneybox containing a single cryptocurrency.
The changes applied since the 4 May 2023 update consist of the addition of more supported cryptocurrencies and the improvement of the overall experience.
The Moneybox section gets a makeover for an increasingly flexible and customised crypto hodling experience. Discover the promo!
With the new crypto Moneybox, your buy and hold strategy is easier and more customisable.
Keeping up with the market is stressful for many, who instead find it more comfortable to buy little amounts regularly. Studies confirm the validity of this approach on both traditional markets and cryptocurrencies. Thus was born the Moneybox 2.0 – discover all its new features and the dedicated promo!
Crypto Moneybox: what it is and how it works
Young Platform’s crypto Moneybox is a separate wallet from the one you use to store your cryptocurrencies normally. It is used to put virtual currencies aside for a long time and avoid spending them on everyday or frequent transactions.
The cryptocurrencies compatible with the feature are as follows:
Already available
Bitcoin (BTC)
Ethereum (ETH)
Young (YNG)
Ripple (XRP)
Cardano (ADA)
Polygon (MATIC)
Dogecoin (DOGE)
Polkadot (DOT)
Uniswap (UNI)
Decentraland (MANA)
The Sandbox (SAND)
Newly added
Aave (AAVE)
Chainlink (LINK)
Litecoin (LTC)
Avalanche (AVAX)
Axie Infinity (AXS)
Basic Attention Token (BAT)
Solana (SOL)
Pax Gold (PAXG)
Fantom (FTM)
New: Multi-crypto Moneybox
There are now 3 ways to create a crypto Moneybox:
The Single Coin Moneybox
The Curated Bundle
The Bespoke Bundle
The ‘Single Coin Moneybox‘ is the standard mode: simply create a Moneybox in which to set aside a single cryptocurrency via recurring purchase.
Things get even more interesting with the ‘Curated Bundle‘: these are ready-made cryptocurrency mixes that can be purchased on a regular basis. These sets contain coins similar in application and sector, designed for those interested in specific crypto applications:
Web3 (DOT, LINK, UNI, BAT, MANA)
Metaverse (SAND, MANA, AXS)
PoW (BTC, LTC, DOGE)
Smart Contracts (AVAX, ADA, ETH, DOT, MATIC)
DeFi (AAVE, UNI, LINK)
Popular (BTC, ETH, YNG, XRP)
Want to put your own spin on it? Now there is also the possibility of creating a ‘Bespoke Bundle‘: select between 2 and 5 cryptocurrencies to include in your moneybox (from those available) and choose the percentage for each.
Whereas for other Moneyboxes you can create one per currency or per curated bundle type, in this case there is no limit: you can create as many bespoke bundles as you want.
The real icing on the cake? Until 30 June, all purchases made for the bundles will be 100% commission-free. The promotion will not apply to the single coin moneybox.
How do you create a crypto Moneybox?
The Moneybox is a section of the Young Platform app and web version, which you can find in the main menu.
The creation is guided stepby step and will allow you to choose in order:
What kind of crypto Moneybox to create
Which cryptocurrencies to include
The percentage in which to distribute cryptocurrencies, if it is a bundle (minimum 10%)
The frequency of recurring purchase
The amount ofeach purchase, which in the case of bundles indicates the total amount of Euros with which all cryptocurrencies are purchased together.
For each type of bundle, a different minimum amount is indicated, which is based on the minimum amounts of the individual cryptocurrency markets. The maximum amount, on the other hand, is always €250.
We understand this better with an example of a bespoke bundle:
You selected the monthly purchase of 10% of A, 40% of B and 50% of C.
You entered €100 as the amount of the recurring purchase
This means that each month you will get €10 of A, €40 of B and €50 of C in a single bundle.
As your Moneybox grows, you will have richer and richer statistics to monitor the performance of each crypto or bundle.
In case you want to change your strategy, you can always close the crypto Moneybox and recreate it, or deactivate and reactivate the recurring purchase with different settings.
Remember that when you close any Moneybox, your cryptocurrencies are only transferred to your spot Wallet, they are never sold unless you sell them.
Please note: for those who, prior to the launch of the Moneybox 2.0, already had active Single Coin Moneyboxes with recurring purchases, their balances were moved to the Spot Wallet, but they are still active. Those who, on the other hand, had Moneyboxes without recurring purchase, they have been closed and the cryptocurrencies stored in these have been moved to the Spot Wallet. More info on the Support page.
Discover the new crypto Moneyboxes now and make the most of zero purchase fees before 30 June!
A retrospective on the start of the year for the YNG token, with an in-depth look at Clubs and the latest news
Let’s take stock of the Young (YNG) token distribution, sales and use cases nine months after its market launch. In this report compiled at the beginning of April 2023, you can find an overview of the clubs, the token’s up-to-date distribution in the first months of the year, and the project’s future goals.
Participation in Clubs
The YNG token is Young Platform’s utility token whose main use case is to grant access to Clubs: subscription plans that offer exclusive benefits within the exchange.
Currently, 1343 people participate in the Clubs, divided into:
976 for the Bronze club;
196 for the Silver club;
112 for the Gold club;
59 for the Platinum Club.
To join a Club it is necessary to lock a certain amount of YNG into it, which is why the number of registered members gives us a relevant figure on the distribution of the token: the more YNG are locked (for a minimum of 90 days) in the Clubs, the less it will be sold, and consequently its market price will be sustained. Compared to the last report, the recorded growth of Clubs is +10.6%.
Distribution of the YNG token
The number of tokens in circulation at the end of January was 20.5M. The number of tokens in circulation at the end of March was about 22M, which means that there was a net increase of 1.5M tokens, or 7.3%.
These tokens were distributed via the Young Platform Step app in different ways:
13,910.9 through the completion of Quizzes by 28,239 users;
1,299,439.24 through the winning of Challenges by 82,702 users;
243,275.65 through the use of the Up&Down function by 72,840 users.
The YNG token market is run through an algorithm that defines the exchange rate by means of two underlying liquidity pools, in EUR and YNG respectively. Initially, these pools contained:
1M Euro;
4M YNG.
Considering the sales and purchases of tokens handled in recent months, the pools contained at the end of March 2023:
677.3k Euro;
6.17M YNG.
This configuration is the result of purchases and sales during the first quarter, summarised in the table below together with the price trend:
Other projects, however, are in development: here are the updates.
Airdrop & Voucher
We have officially launched the second coupon distribution campaign, as already anticipated in our last report. The promoter chosen for this initiative is Freename, a cutting-edge platform that allows you to create, buy and sell NFT and TLD domains. As with the previous campaign, we distributed coupons that can be used on the aforementioned platform to all Club members. We are confident that this partnership will help us offer our members the chance to discover new opportunities and make the most of blockchain technologies.
The next quarter will be devoted to planning the next coupon distribution campaign, which we hope to announce soon. We continue to work hard to offer our members access to unique services and promotions to enrich the Club experience and keep their satisfaction levels high.
Token tracking (CoinMarketCap and CoinGecko)
Currently, we are still waiting for a response from CoinMarketCap and CoinGecko for our submission, which is still under evaluation. In the meantime, we are focusing our internal efforts on improving our token information tracking page.
Earning Wallet
The product team is working on the new version of the ‘Earning wallet’ functionality, as already mentioned in our last report. We are devoting special attention to the legal aspects, and if the assessments bring a positive outcome, we expect to release the functionality by the end of this quarter.
Buyback
During the first quarter of this year, we structured buyback operations to boost the exchange and volumes of the YNG token. Specifically, we identified two types of operations to be executed. The first is a “one-shot” buyback operation aimed at rebalancing the amount of EUR allocated to the pool compared to the amount present at the beginning of the year. Thesecond is a mixed operation involving the periodic repurchase of tokens and/or the ‘Burn’ of it.
Specifically, the first model proposal confirmed by the company’s management takes the monthly buying and selling volumes and derives the delta. If the delta (Buying Volume – Selling Volume) is positive, it is proposed to buy through EUR a sum of YNG tokens. Conversely, if the delta is negative, it is proposed to ‘burn’ a sum of YNG tokens. In summary, the plan presented aims to stimulate the exchange and volumes of the YNG token in order to improve its overall performance. These operations will be presented and executed during this quarter and will be communicated on this Blog with the various details.
Club Section of Discord
We are making progress in structuring our server to allow Club subscribers access to a confidential Q&A channel with our team. We are confident that we will be able to test a first version during this quarter.
Register from 4 April to 5 May to take part in the Reply Investment Challenge for free and win Apple products!
In collaboration with Young Platform, Reply is launching one of its famous challenges: the Investment Challenge, which this time is purely crypto-themed. In fact, the competition will take place on the demo version of our exchange, so participants can test their strategies with virtual money! The international competition in 2022 reached record numbers with 13,750 participants from 95 countries, with a total volume of 36,000 trades executed.
Who is Reply?
Reply is among the largest Italian consulting companies in the field of digital services and technological innovation, with a main subsidiary in Germany and stakeholders from all over the world. In order to be able to support so many companies in digitisation and technological development, it has a large research area, but does not limit itself to developing in-house knowledge.
The company also promotes innovation externally, organising many different international challenges throughout the year: from software development to creativity challenges.
Small history trivia: we are fellow citizens! In fact, the company was founded in 1996 in Turin, just like Young Platform.
What is the purpose of The Challenge?
Reply organises these challenges not to create competition, but rather with an educational intent. These events open up access to theoretical resources, opportunities to put them into practice and learning through confrontation in a young, international environment.
The Investment Challenge, specifically, aims to promote financial awareness, and this is its fourth edition, following the one in 2022.
On this occasion, the team chose to give participants the opportunity to learn more about the trend of cryptocurrencies, blockchain and their application in trading.
What prizes are up for grabs?
For 1st place: MacBook Pro M2
For 2nd place: iPad
For 3rd place: AirPods
How to participate in the Investment Challenge?
Registration: Registration starts today 4 April and closes on 5 May
Duration of the challenge: The challenge will last from 7 a.m. UTC on 8 May to 4 p.m. UTC on 19 May.
Access: Participation is completely free of charge.
It opens at 7 a.m. UTC on 8 May and closes at 4 p.m. UTC on 19 May.
You will have a total balance of €1,000,000. Of course, this is not real money, but a simulation.
You will be able to trade on selected cryptocurrency markets.
You can participate on both Young Platform and Young Platform Pro, even switching platforms while the challenge is already in progress.
During the game week, the Reply Team will publish useful clues for your in-game decisions on the “Your Challenge Page”.
Each day, the global and daily rankings will be updated.
What are the criteria for moving up in the rankings?
Theranking algorithm follows a bonus/malus logic: thus some results earn points to move up in the rankings, others imply a fall in position.
Bonuses/malus are determined by the sum of 4 positive or negative values:
Profit & loss (P&L): the profits and losses generated by ‘investments’.
Average number of trades made daily during the Challenge. A bonus is awarded if the trades fall within the ‘optimal range’, i.e. a number that reflects a trading strategy that lies between long-term investment and high-frequency trading, and exceeds the minimum amount indicated. A malus is applied if the number of trades is below or above the optimal range.
Diversification index: this metric cross-references the number of daily trades with their value in Euros. Higher diversification earns a higher bonus and vice versa.
Beware of hints: players who follow the team’s ‘hints’ during the challenge will receive a bonus.
How to prepare for The Challenge?
Demo – From the moment you register until 7 May at 4 p.m. UTC, you will have access to the Young Platform Demo in order to test the trading platform with a virtual balance of €1,000,000 already available. From 4 p.m. UTC onwards, you will no longer be able to log in until 7 a.m. UTC the following day, which is the start time of the challenge and the time when the balance will return to €1,000,000 after your trials.
Support – before and during the competition, you can ask any questions or concerns you may have at the chat available on the Reply Challenge platform, by providing your username.
Educational content – created in cooperation with Young Platform Academy and enriched by materials produced by the POLIMI Graduate School of Management, is accessible from the Learning section of the Challenge from 4 April, but we give you a preview of our content so you can start preparing:
Ready for amazing news? With the new benefit, fees on card deposits, Apple Pay and Google Pay will be just a distant memory!
Cards are definitely the fastest way to deposit funds, without having to use complicated IBAN codes or other banking information. Simply enter your card details or use Apple Pay or Google Pay and you’re done!
Thanks to the new benefit, it will also become the most convenient method!
Every Club gets its Bonus
Depending on your club membership you are entitled to:
Bronze: 1 €5 bonus
Silver: 1 €5 bonus
Gold: 2 €5 bonuses
Platinum: 3 €5 bonuses
Bonuses will be credited automatically on the first day of each month. They will be applied to card deposits made during the current month.
Each bonus is valid for only one deposit, which means that anyone who has three bonuses will be credited back the fees for three deposits.
To make the most of this benefit, consider a few things:
Set up a recurring purchase with your card, Apple Pay or Google Pay: this way you can avoid paying fees every time you set aside your crypto;
Make a deposit for an amount that is not too low: if you are going to make a deposit, consider depositing a higher amount to take advantage of the full value of the bonus;
Pay attention to the first (1, 2 or 3) deposits you make in the current month: the bonus will be applied to that, so make sure you take full advantage of it.
We are happy to offer this new benefit to our Club members and hope you will make the most of it to get the most out of your operations.
Frequently Asked Questions
When will I receive the bonus?
If you are already a member of a Club, you will receive your bonus on the first day of each calendar month. This month of March will be an exception, with the bonus being credited today!
New members will receive it upon registration and on the first day of the month thereafter.
Where will I receive the bonus?
In the Bonus Wallet, the section of Young Platform where you can view all the bonuses you have. In the details you can see their status, value, expiry date and for which transactions they are valid.
For how many deposits is the bonus valid?
Each bonus is valid for only one deposit, which means that those in the Platinum Club will be able to have their fees credited back for three deposits, while those in the Gold Club for two deposits.
For which transactions is the bonus valid?
The deposit methods covered by the promotion are:
Deposit by payment card
Deposit with Google Pay
Deposit with Apple Pay
Also included are card deposit fees associated with recurring purchases.
How is the bonus used?
The bonus is applied during the deposit operation automatically. On the transaction summary screen, before confirmation, you will see a banner alerting you to the refund of fees paid.
The refund will be made as soon as you complete the operation.
If you have set up a recurring purchase with a card, you will not receive a notification. Deposit fees will be credited automatically to your Euro Wallet.
How are fees refunded?
As soon as you complete a deposit, the amount of fees paid will be transferred from the Bonus Wallet to the Euro Wallet via cashback.
You can view the refund in the transaction history.
Will I be refunded all the fees I paid for my card deposit?
You will be credited the amount paid up to a maximum of €5, i.e. the value of a bonus.
If I do not use up the entire bonus with a deposit, can I reuse it?
No, each bonus is only valid for one deposit. So if you do not use the full amount, you cannot recover the excess.
Can I decide on which deposit to use the bonus?
No, the bonus is automatically applied to the first deposit (or first deposits in the case of Gold and Platinum Clubs) you make during the month. If you want to use it on a recurring purchase, we recommend that you set it up so that it is made on the first few days of the month. To do so, simply cancel the current recurring purchase and reset it on the first few days of April.
If I make a transfer but it is rejected or not credited, how does that work for the bonus?
The bonus does not work for deposits by bank transfer, but with deposits made by credit, debit, prepaid, Apple and Google Pay cards.
If I change Club, how does it work?
In the case of an upgrade, you will be credited the difference that you did not receive at the previous club. So if you upgrade from Silver to Gold, you will get an extra bonus, but if you upgrade from Bronze to Silver, you will not be credited anything, because both involve receiving only one bonus.
If I have already used the card in the past, will I still be entitled to this bonus?
The bonus is not retroactive, it will be applied to card deposits you make from today onwards.
From today you can withdraw Euros from Young Platform to your enabled credit and debit cards. Find out how!
Is the card your favourite deposit method, with its immediacy and flexibility? Then this is the moment you have been waiting for.
You can now withdraw funds from your Euro wallet and transfer them to the card you already use for deposits.
What’s more, Young Platform is the second exchange in Europe to integrate withdrawals to credit or debit cards. Not bad, right?
How does withdrawal work?
The ability to use this withdrawal method, the amounts allowed and the timing of the transaction depend on the type of card you have and your past activity.
Supported cards
Cards that support this functionality are only those enabled with Mastercard Send or Visa Direct.
Users who can use the functionality
You can only use this withdrawal method if:
You have already used a Mastercard Send or Visa Direct card to make deposits.
And
You have entered your telephone number during sign up.
If you have not performed these two actions, you can complete them at any time and thus activate the card withdrawal. How?
When you attempt the withdrawal, you will automatically be asked to provide your telephone number. This number is only needed to receive the security code to confirm the withdrawal and guarantee that it was you who made the withdrawal.
Maximum withdrawal amount
The maximum withdrawal amount is calculated based on your past deposits, as follows:
Limit = Sum of the amounts of all deposits made with one card – sum of the amounts of all withdrawals made with one card.
Let’s take some examples:
If I have deposited a total of €50 with my Visa Direct since I added it, and I have never made a card withdrawal, I can withdraw up to €50 (Limit = 50 – 0)
If I have deposited a total of €50 with my Visa Direct since I added it, and I have withdrawn a total of €20, I can withdraw up to €30 (Limit = 50 – 20)
Please note: If you remove your card and add it again, your total deposit and withdrawal account will be reset to zero and consequently withdrawal will be disabled. You will have to deposit again to be able to withdraw.
Timing and fees
If your Mastercard Send or Visa Direct card does not support fast funds, withdrawal may take up to 48 hours.
If your card supports fast funds, withdrawal may take up to 30 minutes/1 hour. The fees charged are the same as for a card deposit: 2.2% + €0.25.
