Tag: Project Updates

The first quarter of 2024 for the YNG token has been eventful. Let’s review what happened and what steps we should take next.

What Happened in the Last Quarter? What were the achievements in Q1 2024? How many tokens were issued, purchased, and sold, and what are the next steps? You can find a comprehensive overview in this report drafted in April 2024.

Young Platform Club Numbers for Q1 2024

YNG is the utility token of Young Platform and provides access to Clubs: subscription plans offering exclusive benefits to our biggest supporters.

As of now, the Clubs consist of 1,687 members divided as follows:

• Bronze Club: 1,238 members
• Silver Club: 199 members

• Gold Club: 122 members
• Platinum Club: 128 members

To join a Club, it is necessary to lock a certain amount of YNG on the Young Platform exchange. The number of members is crucial for analyzing the token distribution, especially as more people joining a Club reduces the selling pressure on YNG, leading to greater price stability.

Comparing these figures with the past, Q1 2024 has seen significant positive developments in terms of Club adoption on Young Platform. At the end of 2023, the numbers were:

• Bronze Club: 1,011 members
• Silver Club: 190 members
• Gold Club: 121 members
• Platinum Club: 115 members

Consequently, Club memberships have grown by 17%, with Platinum membership increasing by approximately 11%. This growth makes us optimistic about the future, especially with many new initiatives planned for our most loyal supporters in the coming months.

YNG Token Distribution

As of January, there were approximately 23.3 million YNG tokens in circulation. By April, this number had increased to about 23.5 million, a net increase of approximately 182,937 tokens or 0.8%.

These tokens were distributed through the Young Platform Step app in various ways:

• 39,379 through completing Quizzes, Challenges, and Up&Down (before the implementation of levels)
• 143,558 through completing Levels

The YNG token market is managed by an algorithm that defines the exchange rate based on two underlying liquidity pools, one in EUR and the other in YNG. Initially, these pools contained:

• 1 million Euros
• 4 million YNG

Considering sales and purchases of tokens in recent months, as of March 2024, the pools contained:

• 747,000 Euros
• 5.65 million YNG

This configuration results from purchases and sales made during the third quarter, summarized below along with the price trend:

YNG Issuance in 2023

What happened during the first quarter of 2024 from the perspective of tokenomics. The way the token is issued changed last year following the Step 3.0 update. Now that some historical data is available, let’s see how the introduction of XP has limited the inflation of YNG.

As evident from the graph, the latest Step update has significantly curtailed the distribution of YNG. The issuance of new tokens has decreased by 93%.

YNG Price

From a price action perspective, the first quarter of 2024 has been positive. The YNG token has reversed the downward trend that began in August 2023, surpassing the €0.14 level. In recent weeks, following a shakeup that affected the entire market, YNG experienced a slight correction and is currently at €0.125.

The last rally of the Young token was mainly driven by the growth in Club adoption, coinciding with the launch of the new Smart Trades feature. Discover how this influenced the developments in the following paragraphs.

Achievements in the First Quarter of 2024

During Q1 2024, we reached a significant number of goals and released many new features. This report is an excellent excuse to summarize the work done over the last three months. Let’s look in detail at the initiatives undertaken in 2024 to increase the appeal of our token.

Smart Trades

The milestone of this quarter was the Smart Trades trading feature. A set of trading indicators operates autonomously without human intervention, utilizing mathematical models and pre-programmed instructions.

This feature is particularly useful for reducing drawdowns in one’s portfolio during market crashes. Although we are in a bull market phase, the price of most cryptocurrencies does not only rise but is also subject to more or less violent shakes. This functionality, built to automatically detect market trend changes, can be a valuable ally in shielding from crashes or leveraging them to increase the balance of one or more cryptocurrencies.

Initially available only to members of the Young Platform Clubs, Smart Trades was later opened to all users. Moreover, the number of strategies that can be activated simultaneously is, and will always be, proportional to the Club membership level.

Smart Trades have attracted attention! This is clear if we analyze the latest price movement of the Young token (YNG) and the number of Club members. As previously mentioned, since the launch of the feature, Club memberships have grown by 17%, from 1,437 to 1,687.

Since joining the group of our biggest supporters requires owning and locking a different amount of Young tokens, the launch of the Smart Trades feature has obviously also influenced the price of YNG.

Try Smart Trades

Listing on Young Platform

Given the market rebound, one of our main goals for the last quarter was to expand the range of tokens and cryptocurrencies available for purchase on our exchange as much as possible. In 2024, so far, the following have been listed on Young Platform:

• THORChain (RUNE)
• Aptos (APT)
• Jupiter (JUP)
• Internet Computer Protocol (ICP)
• Stacks (STX)
• Filecoin (FIL)
• Tron (TRX)
• Near (NEAR)
• Sei (SEI)
• Starknet (STRK)
• Sui (SUI)
• Dymension (DYM)
• Injective (INJ)
• Fetch ai (FET)
• Immutable (IMX)
• Flare (FLR)

To allow our users to expand their portfolios, some of these cryptocurrencies are purchasable and sellable in trade-only mode and cannot be deposited or withdrawn from our platform, as they are currently not supported by our custody provider. This temporary arrangement aims to accelerate the listing process on Young Platform and increase, consequently, our users’ satisfaction level, they will be able to withdraw and deposit the cryptocurrencies in question once our custody partner integrates them.

Over the coming months, we will continue to expand the token offering on Young Platform to allow our users to intercept, well in advance, the new market trends. If you would like to be able to purchase one or more specific cryptocurrencies on our exchange, you can suggest them through our Discord server!

Missions

Another activity that we have carried forward during the last quarter is the Missions. A feature designed to make trading on Young Platform increasingly engaging! Currently, taking action on our platform allows you to earn “gems,” which you can exchange in the shop for discounts on trading commissions.

We plan to expand the use cases of “gems” and thus offer increasingly more benefits to users who frequently use our exchange.

Access Young Platform

New fee model

During the first quarter of 2024, we also updated our commission model, pursuing the goal of making Young Platform more competitive in the market and more attractive to traders and investors. To design the new fee model, we also listened to your opinion, through a survey extended to the entire Community.

Discover the new commission model.

Listing of the Young Token (YNG)

In this sense, the main goal remains the one announced in the previous report: to start trading on decentralized exchanges (DEX) by the end of the first half of 2024. The operational plan for this activity is almost ready and will be presented to the company’s management in the coming weeks, to start work between the end of this quarter and the beginning of the next. The mission, in this sense, is to allow our users to explore the on-chain world without having to leave our ecosystem.

This vision is part of a broader evolutionary model that we have been pursuing since the very first day of our story: to guide the user by hand on the journey to discovering this incredible sector. From the very first approach with Young Platform Step and our educational content, through the purchase or sale of digital assets, to the exploration of the on-chain, and therefore decentralized, world.

In this sense, we are preparing a Live dedicated to our biggest supporters, the members of Club Platinum, to collect feedback and suggestions. If you are part of this group but are not yet in the dedicated Discord channel, join and check your emails, you should have received a form!

Young Platform Pro

In recent months, however, we have not neglected Young Platform Pro, our platform dedicated to crypto traders. The team has worked with the aim of introducing some fundamental improvements for those who intend to analyze the price of cryptocurrencies using a professional approach.

In this sense, we have, first of all, renewed our partnership with TradingView, the most used platform to analyze the charts of major assets, including cryptocurrencies. This means that on Young Platform Pro, our exchange dedicated to crypto traders, users have at their disposal all the most famous tools of this powerful, sophisticated, and complete platform; in particular, indicators, tools, sliders, and drawing tools.

The news for our exchange dedicated to traders does not end here. We are conducting a series of interviews to collect suggestions from the most active traders to make Young Platform Pro increasingly a protagonist within our ecosystem.

New Features Coming Up!

In the coming weeks, we expect many new features, some of which have already been anticipated in the previous points of this report. Discover the main ones in detail!

Taxes & Report: the new service for crypto declaration

The milestone for the second quarter of 2024 certainly concerns taxation, given that it is an aspect that we consider fundamental for every investor who wants to operate in compliance with current laws. These have changed frequently in recent years, and it is therefore not taken for granted to know the current situation or to stay updated on all the news.

For this reason, the Tax Report, a product that has been extremely well received by our community, will not only be re-proposed but improved. The goal of this initiative is to make the “Taxes & Report” service the only product necessary to correctly include cryptocurrencies within one’s tax declaration. This is because, in its final version, it will allow exporting all the essential data to compile the document in compliance with regulations, not only the activities carried out on the products of our ecosystem but also all transactions executed on-chain.

Currently, only for our Club members and with a 10% discount, is the presale of the new Tax Report open. This means that, for the next few weeks, only our most loyal supporters will be able to purchase the new Report usable only for transactions carried out on Young Platform and Young Platform Pro. Here are the discounts applied to each Club.

• For members of the Bronze Club: 10%;
• For the Silver Club: 20%;
• For the Gold Club: 40%;
• For the Platinum Club: 80%.

Until the end of the presale (Club discount + 10%):

• For members of the Bronze Club: 20%;
• For the Silver Club: 30%;
• For the Gold Club: 50%;
• For the Platinum Club: 90%.

If, however, you use other exchanges, wallets (for example Metamask), or third-party blockchains to manage your cryptocurrencies, we are developing a specific service for you. Thanks to a collaboration with an important Italian partner, it will be possible to connect external wallets in addition to that of Young Platform and import transactions carried out on various platforms. This will allow you to create a single PDF containing all the aggregated data necessary for the compilation of your tax declaration.

We therefore recommend that users who also use other crypto exchanges or wallets wait to purchase the Report, given that the one currently in pre-sale will only be usable for transactions carried out on Young Platform.

The aforementioned discounts for the Clubs refer only to the Tax Report dedicated to transactions carried out on Young Platform and not to the Report, due out in May, which will allow connecting external exchanges and wallets. This is because, as anticipated, we use an external partner to offer this service to our users.

In any case, the cost established by the provider we collaborate with is among the most competitive on the market, and Club members will be able to access other discounts currently being defined.

Join a Club!

Smart Trades: a world in continuous evolution

In the next quarter, we will also focus on the flagship product of the quarter that has just ended. The Smart Trades feature is still in an embryonic state and will see a series of improvements. First of all, the range of available indicators will be expanded, but not only that! We are evaluating the inclusion of more complex and articulated strategies, whose main purpose will be to allow users to increase the balance of users cryptocurrencies thanks to the opportunities that present themselves on the market.

Get the most out of Young Platform

Buy YNG

The fourth-quarter report of the YNG token – summarising the year. What has unfolded in this eventful 2023, and what are the next steps?

What transpired in the last quarter? What were the achievements throughout 2023? How many tokens were issued, bought, and sold, and what are the forthcoming actions? A complete overview of the year just ended is available in this report, drafted in January 2024.

Young Platform Club Numbers for Q4 2023

YNG is Young Platform’s utility token, providing access to the Clubs: subscription plans with exclusive benefits for our major supporters.

Currently, the Clubs consist of 1437 members, divided into:

• 1011 in the Bronze Club;
• 190 in the Silver Club;
• 121 in the Gold Club;
• 115 in the Platinum Club.

A certain quantity of YNG must be locked on Young Platform’s exchange to join a Club. The number of subscribed members is vital for token distribution analysis, especially since more members mean less selling pressure on YNG. The primary consequence? Greater price stability for YNG. Compared to the last report, Club membership has increased by 2.6%, and Platinum members by 41%.

Comparing these figures with last year’s, it’s evident that 2023 was a positive year for the adoption of Young Platform Clubs. At the end of 2022, there were 1,214 members, divided as follows:

• 903 in the Bronze Club;
• 174 in the Silver Club,
• 92 in the Gold Club,
• 45 in the Platinum Club.

Therefore, Club membership grew by 18%, and Platinum members by approximately 155%. This growth makes us optimistic about the future, particularly with many new initiatives planned for our loyal supporters in the coming months.

YNG Token Distribution

The number of YNG in circulation at the end of September was about 23.1 million. At the beginning of January, the circulating supply is approximately 23.3 million, indicating a net increase of about 166,000 tokens, or 0.9%.

These tokens were distributed through the Young Platform Step app in various ways:

• 49,009 through completing Quizzes, Challenges, and Up&Down (before level implementation);
• 117,341 through completing Levels.

The YNG token market is managed by an algorithm that defines the exchange rate using two underlying liquidity pools, EUR and YNG. At launch in May 2022, these pools contained:

• 1M Euros
• 4M YNG

Considering token sales and purchases over recent months, as of January 2023, the pools contain:

• 750K Euros
• 5.61M YNG

This configuration results from purchases and sales during the third quarter, summarised below along with the price trend:

YNG Issuances in 2023

This is the conclusive report of 2023, making it the right time to summarise the year in terms of tokenomics. The way the token is issued changed after the Step 3.0 update. How has the introduction of XP impacted limiting YNG inflation?

As the graph shows, thanks to the latest Step update, we’ve significantly limited YNG distribution. The issuance of new tokens has been reduced by 93%.

YNG Price

From a price action perspective, 2023 was a transitional year. The bearish movement affecting our token since November 2022 halted at the €0.1 level reached in February.

Subsequently, YNG, supported by the Buyback initiative, experienced an 86% bullish rally, pushing the price to a high of €0.16 by the end of August 2023. It currently fluctuates between €0.12 and €0.14.

Achievements in 2023

During 2023, we achieved numerous goals and released several new features. This report is an excellent opportunity to summarise all the work done in the last few months. Let’s detail the initiatives undertaken in 2023 to expand the appeal of our YNG token and those related to the Young Platform ecosystem in general.

YNG Token

• Buyback: The Buyback operations were completed. We purchased €62,000 in tokens through spot transactions and supported the price with limit orders.

• Vouchers and Benefits for Clubs: In 2023, many incredible benefits for the clubs in the form of vouchers arrived: We Road and NordVPN. In 2024, we’ll continue collaborating with other brands to offer our supporters more benefits.

• YNG Token Listing: We are still considering listing the Young (YNG) token on other exchanges. Our main goal is to initiate trading on DEXs by the end of the first half of 2024.

• Dust: In recent months, a feature was released that allows converting small crypto balances into Young (YNG) tokens. Dust lets you revitalise unused cryptocurrency cents.

• Token Tracking (CoinMarketCap and CoinGecko): Our weekly reminders to CoinMarketCap and CoinGecko have yet to produce results beyond those achieved in the second quarter of 2022. Communication with CoinMarketCap, through which we provided all requested data, continued for several months but ceased when they asked for money to expedite the process.

We are considering proceeding in this direction once the token is tradable on the decentralised market. In doing so, we intend to maximise interest around the event. Currently, we are listed as an exchange on CoinMarketCap, while the YNG token appears on CoinGecko, although trading volumes still need to be available for both pages.

Young Platform Ecosystem

• Tax Report. In May, we introduced one of our most successful features: the “Tax Report,” a tool simplifying crypto declarations, offering a downloadable PDF for tax declarations. Developed in collaboration with Taxtris, it’s the first service provided by an Italian exchange. Remember, the Tax Report is discounted for Silver and Gold Club members and accessible for Platinum. 

• Listing on Young Platform: With the market’s resurgence in 2023, we expanded the range of cryptocurrencies available on our exchange. We started with Arbitrum, Ethereum’s most-used Layer 2, then proceeded with Optimism, dYdX, GMX, Cosmos, Lido DAO, Render, and Celestia. In 2024, we’ll continue to broaden our token offerings on Young Platform to allow our users to catch new market trends.

• Multi Network: We enabled multi-network deposits and withdrawals to meet the needs of users who intend to use Young Platform as a “launchpad” to access DeFi decentralised applications. It’s now possible to deposit and withdraw Ethereum, USDT, and USDC, even through the Arbitrum, Optimism, and BSC networks. This way, you can maximise the opportunities Web3 offers with shallow deposit and withdrawal costs.

• Moneybox 2.0: This update expanded the range of cryptocurrencies available for recurring purchases in May. We introduced the Thematic Moneybox (composed of ready-made cryptocurrency mixes) and the Customized one, allowing you to make recurring purchases of your preferred cryptocurrencies (from 2 to 5).

• Services for Businesses: Services for businesses that see crypto as a tool to make their business competitive and scalable have also arrived. In recent years, more and more companies and institutions have started recognising cryptocurrencies as a fundamental tool for a complete digital transition.

• Step 3.0: Step has also been wholly revolutionised after the latest updates. Initially a pedometer app, it’s now Italy’s most-used “Cryptogame” and a guided journey to explore and study the cryptocurrency world.

Community

Development regarding the community was diverse in 2023. All the initiatives undertaken aim to establish a two-way dialogue between us and our users.

• Discord: In 2023, we completely restructured the central hub dedicated to our community. The Young Platform Discord server also saw the creation of a channel reserved for our biggest supporters, the Platinum Club members, and we are working on creating one for other supporters. To comply with current regulations, we have yet to be able to reward the most active members with free token distributions. 2024, we plan to distribute many benefits to our most loyal supporters.

• Telegram and WhatsApp: We also launched a new Telegram channel and a WhatsApp Community. The primary goal of these two digital spaces is to keep our users informed about the latest crypto news. We also publish weekly analyses of the price of Bitcoin, Ethereum, and the best-performing cryptocurrency.

Upcoming News!

Many new developments await us in the coming weeks. Here, we can only reveal two of them, which will help us achieve two key objectives: enhancing the trading experience on our platforms and increasing the adoption of the YNG token.

The first relates to the “little robot” visible on our app and in various social media content published in recent months. Predictably, it is linked to some automated trading features we will release in the coming weeks. These will enable all our users to access intelligent solutions for purchasing and managing cryptocurrencies and tailor them according to their strategy. But that’s not all. Launching these new functions is also an incentive to join our Clubs, as members will be rewarded with various advantages. This could also positively influence YNG’s price action.

The second development is designed for those who actively and regularly use the applications of our ecosystem, particularly the Pro version. We are improving the interface to make trading on Young Platform Pro more professional. Additionally, we are enhancing our APIs and exploring various options to increase liquidity on the order books and minimise the spread as much as possible. We aim to establish partnerships with a specialised market maker in this regard.

For now, the spoilers end here. Continue following us on all our channels!

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Start now

The third quarter YNG Token report, with an in-depth look at Clubs and the latest news coming soon!

What happened in the last quarter? How many tokens have been issued, bought and sold, what goals have we achieved and what are the next steps? You can find a complete overview in this report, compiled in October 2023.

The numbers of Young Platform Clubs

YNG is Young Platform’s utility token and grants access to Clubs: the subscription plans that offer exclusive benefits dedicated to our biggest supporters. 

The Clubs, at the moment, consist of 1400 people, divided into: 

• 1031 for the Bronze Club;
• 167 for the Silver Club;
• 121 for the Gold Club; 
• 81 for the Platinum Club.

To join a Club, a certain amount of YNG must be blocked on the Young Platform exchange. The number of registered members is therefore important for analysing the distribution of the token, especially since the more people join a Club, the lower the selling pressure on YNG will be. What is the main consequence? A greater stability of the price of YNG. Since the last report, Club members have decreased by 9% but Platinum members have increased by 11%.

Distribution of the YNG token

The number of YNG in circulation at the end of June was about 22.7 million. The circulating supply at the beginning of October was about 23.1 million, which means that there was a net increase of about 400,000 tokens, or 1.7%. 

These tokens were distributed via the Young Platform Step app in different ways: 

• 76,049 through the completion of Quizzes, Quests and Up&Down (prior to the implementation of the levels);
• 331,830 through the completion of the Levels.

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 token sales and purchases handled in the past months, as of October 2023, the pools contain:

• 771K Euro;
• 5.43M YNG.

This configuration is the result of purchases and sales during the third quarter, summarised below together with the price trend:

Goals achieved and next steps

During Q3 2023, we achieved a large number of goals and released as many new features. First of all, we successfully launched and concluded buyback operations, which, together with a modest amount of purchase volume, breathed new life into the Young token (YNG). In addition, our dedicated business services and the tax advice section of the site with expert accountants arrived. 

The community section also saw big news! Two new channels were opened: Telegram and WhatsApp, and activity on the Discord server increased. Finally, Club members can be, in part, satisfied; thanks to new benefits in the form of vouchers issued. Here are all the goals achieved during this quarter and the challenges that lie ahead for the next one.

Buyback

The buy-back operations were successfully completed. We purchased a total of €62,000 of tokens through spot trades and then supported the price through limit orders. Young’s (YNG) price increased by 15% from the beginning of July and by 40% from the February lows.

Listing

We are still considering listing the Young token (YNG) on other exchanges. We are currently in negotiations with several centralised exchanges but are also considering opening up to the decentralised market (DEX).

Token tracking (CoinMarketCap and CoinGecko)

The weekly reminders sent to CoinMarketCap and Coingecko have, unfortunately, not produced any more results than those achieved in Q2 2022. We are currently listed as an exchange on CoinMarketCap, while the YNG token appears on CoinGecko, although, for the time being, no exchange volumes are available for both pages. The situation will probably unblock, at least as far as the token is concerned, when we list on another exchange.

Small balances

Spoilers! 

By popular demand, a new feature is coming soon, allowing you to convert small crypto balances into Young tokens. This way you can give new life to small amounts of cryptocurrency that you would not use.

Multi Network

This function, although it may seem secondary to some, is very important. Especially for those who intend to geek out with DeFi’s decentralised applications. It will soon be possible to deposit and withdraw Ethereum, USDT and USDC, also via the Arbitrum, Optimism and BSC networks. In this way you will be able to make the most of the opportunities offered by Web3 with very low deposit and withdrawal costs.

In the coming weeks, the Polygon zkEVM and Base networks, Layer 2, developed by Coinbase, will also arrive.

Telegram

We have launched a new Telegram channel! The main objective is to try to counteract the many attempts to defraud our users. In the current group, which is still open but will be permanently closed in a few weeks, malicious actors can view the phone numbers of members who have not specified within the app to be hidden and contact them privately. 

Join our Telegram channel!

Young Platform’s new Telegram channel solves this problem. It is to all intents and purposes a channel (and not a group where the admins are the only ones who can post) and therefore the username and phone number of all members is blacked out.

WhatsApp

We then also ventured into WhatsApp, which introduced Communities. These are larger and more customisable discussion groups than those used to communicate with friends or family. The Young Platform WhatsApp group will, for now, serve the same purpose as the Telegram channel. One more way to learn about all the news concerning our ecosystem and the crypto world.

Discord

Discord is the main place dedicated to our community, featuring a leaderboard where server members are ranked according to the XP (experience points) they possess. This will be used to reward the most active users of the server, those who are most committed to growing our ecosystem. During the quarter just ended, we prioritised other initiatives, but presumably some of the rewards in store for the community will come during this quarter. 

We have also created the channel reserved for our biggest supporters, the Platinum Club members, and we are working on creating those for other Club members as well.

Explore our Discord server

X

Twitter has changed its name, but still remains the main venue for promoting the YNG token. We have, to some extent, strengthened our collaboration with prominent members of the industry, who already support us, and we plan to enter into more. Unfortunately, it has not been possible so far to implement an automatic reward system (via the connection between X and Discord) due to the new policies of Elon Musk’s social network.

On our X profile we post daily content and memes, if you don’t follow us yet you should definitely do so!

Follow us on X

Fiscal Report

In May, we introduced for Italy and France one of the features we are most proud of. We are talking about the ‘Fiscal Report’, a document that simplifies filing crypto taxes, making it available for download in Pdf format. The Fiscal Report was developed in collaboration with Taxtris and is the first service of its kind offered by an Italian exchange. Please note that the Fiscal Report is discounted for Silver and Gold Club members, and free for Platinum Club members.

Vouchers and Benefits for Clubs

More amazing benefits for Clubs in the form of vouchers arrived in the third quarter of 2023, but this is no time to rest on our laurels. After We Road, a partnership with another famous brand is on the way this week. The theme of the collaboration is privacy, a concept very dear to us; but no more spoilers, at least for now!

Business services

Young Platform’s business services also opened up recently. In recent years, companies are beginning to understand how crypto is key to make their business competitive and scalable, while completing the long needed digital transition.

News on the way!

Finally, two more huge innovations await us in the coming weeks. The first is Young Platform Step, which will see the launch of a brand new education section that will allow users to get YNG in new ways. The second has to do with our exchange, where a feature never seen before in Italy is on the way.

A warm greeting from the Young Platform Team

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.

Warm regards from the Young Platform Team

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:

Future Objectives

During this first quarter we released some features anticipated in the previous report, such as free deposits for clubs and the market report.

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. The second 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. 

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Here’s the second report on YNG since its market launch. Find out about its distribution and upcoming news on Young Platform

On 1 June 2022, the YNG token was released on the market and thus began to vary in price according to supply and demand. At the same time, Young Platform Clubs were born, which can be accessed precisely by blocking a certain amount of tokens. The first report came after four months, so at the beginning of February we collected data from the second four months of the token’s life. See the results below.

Club Membership

At the moment, 1214 people participate in the clubs, divided into: 

• 903 for the Bronze Club;
• 174 for the Silver Club;
• 92 for the Gold Club;
• 45 for the Platinum Club.

Compared to the last report, the growth is +19.1%. Consider that the greater the number of tokens locked in Clubs, the lower the sales pressure and thus the tendency of the price to drop. Club participation is therefore one of the parameters to consider in order to understand the demand for YNG.

Distribution of the YNG token

The number of tokens in circulation as of October was 18.43M. The availability in circulation as of today (February 2023) is about 20.5 million, which means that there was a net increase of 1.7M tokens, or 11.4%. 

These tokens were distributed via the Young Platform Step app in different ways: 

• 41,144.8 through the completion of Quizzes by 56,748 users;
• 1,554,524.31 through rewards for 153,054 users;
• 498,101.85 through the use of the ‘Up&Down’ function by 143,892 users.

The market for the YNG token and its exchange rate with the euro is regulated by an algorithm, thanks to two liquidity pools. Initially, these pools contained:

• 1M Euro;
• 4M YNG.

Considering the sales and purchases of tokens handled in recent months, at the end of January 2023 the pools contained:

• 682.8k Euro;
• 6.11M YNG.

Regarding the YNG-EUR pair, these were the movements that led to the change in liquidity in the pools:

Future Objectives

Finally, for transparency, here’s an update on the objectives listed in the last report. 

• Airdrops&Vouchers: The first distribution of vouchers planned for Club subscribers was successfully concluded. Specifically, the promotional campaign in cooperation with Unstoppable Domains was completed in November, thanks to which we distributed free credits to all club members to purchase their own Web3 domain. The next event is planned for this quarter and will once again feature a Web3 domain project.
• CoinMarketCap and CoinGecko: during the last quarter of 2022, we made some changes to the integration with our liquidity providers and market makers, with the aim of streamlining order entry in the order book. This resulted in changes to the structure of some API calls requested by the two aggregators. We have resubmitted the requested information and are awaiting updates. 
• Earning Wallet: during the last quarter of 2022, we had to discontinue the service due to the crisis affecting FTX and its customers. Being the main benefit of the Clubs, we prioritised the development of the new version.
  We are evaluating, in addition to providers of services based on Lending and Borrowing, also solutions based on self-hosting of nodes and liquid staking of tokens. This functionality is planned to be developed between the end of Q1 2023 and the second quarter of the year.

• Debit Card: due to the prioritisation of the development of the new version of the Earning Wallet, the deadline for issuing debit cards was postponed by one quarter. 
• Third-party exchange listing: Between the end of Q1 and Q2 2023, we will reopen all negotiation tables to list the token on third-party exchanges. To accomplish this, it remains crucial to have supporting volumes on the YNG-EUR pair.
• Buyback: In the last report we anticipated that we would present buyback operations. Unfortunately, the market was hit by the FTX crisis and the company decided to prioritise the management and protection of all those who had an active Earning Wallet, taking time away from structuring the projects in this report, including the buybacks. At the beginning of the year, we took over the planning and are finalising the rationale and plan for the buybacks. In order to make individual buybacks as rational as possible, we are planning operations that are directly linked to the metrics of the YNG-EUR pair currently on the platform (e.g. tokens bought by users, tokens sold and tokens from Steps). This is to achieve campaigns that incentivise the organic growth of the pair’s volume and avoid inefficient repurchase plans for the market price. 
• The remaining objectives presented in the last report were mainly dedicated to our community, and to improving services and the experience for Club members. 
  • Monthly market reports: since 2023, all club members have received a monthly report summarising the most influential events that occurred in the previous month and analysing the market highlights, this benefit will be developed based on their feedback;
  • Merchandising: In December, we sent all Platinum and Gold Club members a package containing Young Platform merchandising. 
  • Promo Wallet: Young Platform’s promo wallet was successfully released, which will allow users to receive promotions to use on the platform, including discounts on deposits and withdrawals for Club subscribers. 
  • Club section of Discord: We are structuring the server in such a way that Club subscribers can join a reserved channel for Q&As with the team.

In addition to these token-related objectives, here is a brief overview of features under consideration and development for the first half of 2023: 

• Moneybox: We are working on improving the current Moneybox, not only in terms of available cryptos, but also in terms of applicable automations.
• Monthly club membership payment: currently, a club membership lasts for a minimum of 90 days during which YNG tokens remain locked. In order to manage membership more flexibly and to support tokenomics of the token, monthly payment of membership will also be activated as an option, again with YNG. During the first half of 2023, the first tests in this direction will be started.
• Price movements alerts: In order to improve the monitoring of price movements of crypto holdings, we think it is essential to be able to be alerted as soon as a crypto reaches a certain price. For this reason, as anticipated months ago, we are finally structuring the functionality that will allow you to be alerted as soon as a held crypto reaches a price point. 

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We report Young (YNG)’s first few months on the Market, with a focus on the Clubs’ performance and upcoming news!

Four months after the market launch of the Young (YNG) Token, we take stock of the distribution, sales and use cases of Young Platform’s token. In this report, which was compiled at the beginning of October 2022, you will find an overview of the first months, the updated distribution of Young (YNG) and the future goals of the project.

What is the YNG token

The YNG token is a utility token based on Ethereum’s ERC-20 standard. Utility tokens are cryptocurrencies designed to facilitate access to an ecosystem and its services. In fact, the YNG token is at the heart of the whole Young Platform project. You can receive some as a reward on Step, or use it to gain access to Clubs and take advantage of exclusive benefits. Developing a utility token like YNG was an opportunity to make the Young Platform community and users even more active and involved. You can find out about its tokenomics in detail, from full availability to use cases.

All the numbers of Young Platform Clubs

As we have just explained, one of the new features of the Young Platform ecosystem are the Clubs. They have been active since June 2022. By joining one of the four available Clubs, you get access to discounts, rewards and benefits. Over time, more and more benefits will be made available as the Clubs grow, step by step with the community. In winter 2022, the activation of the airdrop function is planned.

The clubs currently have 1019 members, divided into:

●     780 for the Bronze club;

●     121 for the Silver club;

●     81 for the Gold club;

●     37 for the Platinum Club.

Since Club membership requires a minimum of 1500 YNG, participation is a good benchmark to measure the success of the initiative and the satisfaction of loyal supporters. Another interesting statistic in this report is the Club drop-out rate. From an initial number of 720 active users, the user base now stands at 1019, indicating a growth of +41.5%. This number greatly influences the value of the YNG token, since the more tokens get locked into the Clubs by members, the lower sales get and thus downward price pressure lessens. This means that the larger the community gets, the more incentive it has to grow.

Distribution of the YNG token

As of the 30th May 2022, the total supply of YNG was 100M tokens, while the circulating supply was 16.73M. Today (October 2022), the circulating supply stands at about 18 million, which means that there has been a net increase of 1.7M tokens, or 7.6%.

These tokens were distributed via the Young Platform Step app in different ways:

●     56,399.04 through the completion of Quizzes by 97,446 users;

●     1,007,551.63 by obtaining rewards from 222,063 users;

●     638,684.83 through the use of the ‘Up&Down’ function by 223,035 users.

As anticipated in June, 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, at the beginning of October 2022 the pools contained

–       789.7k Euro;

–       5.3M YNG.

With regard to activities on the YNG-EUR market, we feel it is important to provide those reading this report with a summary of what has been YNG’s market performance from June to date:

This data suggests that although the average price of tokens has fallen, they are still in high demand, given the high sales volumes. In the near future, we will implement buyback operations to better adjust the value of the tokens.

Future Objectives

Finally, for the sake of transparency, we present you some of our future goals.

●     The first one we can announce is something we already planned months ago, the implementation of airdrop events for our club members. The release of the first airdrop is planned for the last quarter of 2022.

●     The second goal requires a long process that we have already started. It consists of including Young Platform and the YNG token on two of the largest aggregators in the world: CoinGecko and CoinMarketCap. Completion is expected by the end of 2022.

●     The third goal we are planning is just as important: it consists of issuing debit cards to our users. The deadline for this project, at least in its initial phase, was planned for the last quarter of 2022. However, before presenting this project to our Club members, we want to wait for the completion of the infrastructure offered to us by the designated issuing partner. Therefore, we plan for the beta release for Club users to be available for the end of the first quarter of 2023. Due to this necessity, we have preferred to postpone the listing on third-party token exchanges as we believe that the low organic volume of YNG will not support the activities in question, but may harm the market for the token.

●     The fourth objective we want to talk about is something that is, to say the least, fundamental to be able to support the activities already mentioned in terms of liquidity and the value of the tokens. In Q4 2022 we will announce the first series of buyback operations, aimed at discouraging excessive token presence in the market. The buyback is the re-purchase of YNG tokens by Young Platform to reduce the circulating supply. These operations will be accompanied by promotional campaigns to organically increase the volume of tokens.

●     The remaining objectives are mainly dedicated to our community, and to improving the services and experiences for club members. Here are some of the activities we plan to implement:

– Monthly market reports, to present the up to date situation to our members

– Exclusive collaborations with influencers, with content reserved for Clubs;

– Discord Section dedicated to Clubs, for frequent Q&A sessions for members;

– Merchandising that will be sent according to the Club a member belongs to;

– In addition to the fee discount, a defined number of free deposits will be granted to club members.

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