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YNG Token: October 2022 – January 2023 Report

Token Young (YNG): updates and news Q4 2024

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:

yng token

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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YNG’s tokenomics explained step by step

yng token

One reason to consider holding Young (YNG) is the strength of its tokenomics. This is explained in detail below!

Tokenomics serves as the identity of every cryptocurrency, outlining its characteristics and strengths. To understand a crypto’s mission, vision, and, most importantly, its economic model, tokenomics is the essential document to review.

The tokenomics of YNG will be detailed in the upcoming white paper; however, this article provides all the key information about YNG’s tokenomics, explained point by point.

Category: What type of token is YNG?

YNG is the utility token of Young Platform. Utility tokens are designed to provide access to specific services or offer benefits within a cryptocurrency ecosystem. The YNG token was created for this very purpose: to enhance and enrich the experience of users who engage with Young Platform products. 

Through the Clubs, all features on the Young Platform are centred around YNG. The process is straightforward: by holding and locking a certain amount of YNG tokens, you can access the Clubs, which are exclusive loyalty programs that offer a variety of benefits.

Among the main benefits of being a member are discounts on trading fees and an increased Annual Percentage Yield (APY) on staking. This means you earn not only the staked currency as a reward but also the YNG token. 

Thanks to collaborations with major brands, Young Platform offers Club members a variety of exclusive benefits. For example, NordVPN provides discounts of up to 78%, while WeRoad offers savings of up to €450 on exciting group adventures.

Additionally, there’s Young Platform Step, our crypto-themed educational game, where users can earn YNG tokens as a reward for completing quizzes, challenges, and levels. This was the first significant feature of YNG and has been available to Step users since January 2019.

The best is yet to come! Young (YNG) is becoming increasingly central to the Young Platform ecosystem. In the final months of 2025, we will be releasing new features, including a payment account and the ability to trade using derivatives (futures). These updates will provide Club members with access to a wide range of unprecedented benefits!

Total supply: How will the YNG token be distributed?

One of the key factors to consider in a cryptocurrency’s tokenomics is the total supply of tokens. This figure can help determine whether the supply will continue to increase indefinitely or remain fixed. In the case of YNG, the smart contract specifies a limited supply of 100 million tokens. This means that the total number of tokens cannot exceed this limit under any circumstances. The Young Platform team has chosen to allocate these 100 million YNG tokens for various purposes:

  1. Rewards in the Young Platform product ecosystem and treasury (70.31% %)

Seventy per cent (70.31%) of the total supply is allocated to support and enhance the Young Platform ecosystem. This allocation serves two key purposes. Firstly, a portion is devoted to user rewards, including Step rewards and benefits for Club members, such as staking boosts and future cashbacks. Secondly, another part supports the company’s Treasury, which is strategically utilised for growth initiatives. These include providing liquidity in decentralised markets, funding the buyback program, and supporting new integrations, all of which contribute to the long-term health of the token economy.

  1. Young Platform Team (7%)

A portion of YNG tokens will be distributed to Young Platform employees starting in the second quarter of 2025. As the company continues to grow, it recognises the essential contributions of its team members. The YNG token will serve as a reward for those who positively impact the organisation with their skills and dedication.

The aim is to motivate and encourage Young Platform employees to give their best every day. If the team performs effectively, the value of YNG tokens is expected to increase accordingly. However, the distribution of these tokens will occur gradually over the next few years.

  1. Circulating Supply (22.69%)

The circulating supply of Young (YNG) currently stands at 22.69 million YNG tokens, and this number fluctuates over time based on the rewards distributed through various features that facilitate token issuance. Currently, Club members have locked away 9.91 million YNG tokens, representing 43% of the circulating supply. Additionally, 2.66 million YNG tokens are locked in Step wallets, and 4.49 million are deposited in the liquidity pool that supports the order book. Consequently, only 5.62 million YNG tokens, or 24.8% of the circulating supply and 5.62% of the total supply, are available for sale.

The YNG Liquidity Management System

To regulate the liquidity of the YNG-EUR market on the Young Platform exchange, we have been using an algorithm based on mathematical formulas typically employed to manage liquidity pools in decentralised exchanges that utilise automated market makers. Specifically for YNG, we apply the same formula that governs the Uniswap liquidity pool: K = x * y, where “x” represents the number of YNG tokens and “y” represents the euros in the pool.

The purpose of this formula is to calculate the appropriate proportion between the number of tokens bought or sold and their price, while maintaining a constant product of the amount of tokens and the number of euros in the pool over time. As a result, the liquidity pool on the Young Platform currently holds approximately €910,000 and 4,500,000 YNG tokens.

The (new) economic model of the Young token (YNG)

It may be helpful to introduce the new economic model that partially came into effect at the beginning of February and will be gradually enhanced with the release of new integrated features. This model includes several mechanisms aimed at stabilising the token and ensuring its long-term sustainability. Our strategy focuses on maintaining a dynamic balance between the supply and demand of YNG, ensuring price stability while encouraging community participation. Here are the primary tools that will be used to achieve this balance:

  • Add Liquidity: This verifies two key factors before adding EUR and YNG tokens to the liquidity pool:
    • Monthly budget: ensures that there is sufficient revenue or funds to allocate to adding liquidity.
    • Availability of YNG tokens ensures that the treasury, i.e., the company’s cash capital in euros, has a sufficient amount of YNG to add to the liquidity pool.

If both conditions are met, liquidity is added to the pool, helping to stabilise the YNG liquidity pool and thereby preventing large fluctuations in its price.

  • Buyback: The buyback function is also regulated by the monthly budget and allows the platform to purchase YNG from the market using euros from the treasury. This reduces the circulating supply of YNG, supporting its price. A buyback is executed when there are sufficient funds in the treasury to cover the buyback amount. This method enables the controlled management of YNG supply and maintains its price stability over time.

The coordinated implementation of these mechanisms aims to ensure stable liquidity for YNG, promote organic community growth, and support the overall evolution of the ecosystem. Our model is based on factors such as Club user growth, churn rate, and market dynamics, which will be continuously monitored. This enables us to adjust the rewards and mechanisms necessary to maintain a stable economic model.

Now that you are familiar with how Young (YNG) tokenomics functions, let’s explore in detail the benefits of joining the Clubs. The economic model of our token has been specifically designed to enhance the loyalty programs within the ecosystem.

This article offers general information about the YNG token and its structure. The content provided here is for informational purposes only and should not be considered as advice or guidance of any kind. The cryptocurrency market is subject to rapid and unpredictable changes. Before making any decisions regarding the use of the YNG token or cryptocurrencies in general, we recommend that you conduct thorough research and carefully assess the associated risks.