The YDragon IMO Is Upon Us
The inaugural YDragon index is just days away, so let’s take a look at what you can expect from our first IMO
Well, it has to be said that it’s taken some time and a lot of work to get here, but the end is in sight! In just a few short days, we will be celebrating the launch of our first index on the Binance Smart Chain, kicking things off with our Index Minting Offering (IMO), planned for November 29th!
Audits have been completed, rigorous testing has been conducted, bugs have been fixed and tweaks have been made. Provided no last minute concerns appear, we’re good to go! It’s a good time to take a look at our first index details and the platform itself — the YDragon IndexPad — and reveal some details surrounding the IMO period and what you can expect.
BSC Maximus Index (BSCX) Composition
The “Maximus” lineup of our indexes will encapsulate the best of a given blockchain for which the index is launching on.
The BSC Maximus Index (BSCX) will be our inaugural index launching on November 29th. The above picture shows the asset composition of the index token.
The index token will start at a market cap (TVL) of $0 as no index tokens will have been minted before then. Once users start to invest and mint the index tokens during and after the IMO, the market cap (TVL) will increase as the underlying assets will be bought up and stored in vaults.
You can buy into the index token using BNB or stable coins (BUSD, USDT).
BSCX and BSCX LP staking will be available shortly after the IMO ends.
IMO Key Details
Now that the index launch is just around the corner, it’s a good time to share key information regarding the IMO itself.
- IMO begins at 12pm UTC Monday November 29th and lasts for 48 hours, ending at 12pm UTC on Wednesday December 1st.
- As soon as you click ‘buy’, index tokens will be added to your wallet after you accept the transaction.
- During the IMO there will be a 0% minting fee. Once the IMO period has ended, you can still buy (mint) the index but the minting fee will be 0.5%.
- Selling (redeeming) the index token on the YDragon platform will have a dynamic fee of 2% to 6%, depending on the structure of the X and Y vaults of the index. The less assets present in the X vault, the higher the fees. (to learn more about how the X and Y vaults function have a read of our whitepaper here)
- Liquidity for the index will be added as soon as the IMO period finishes.
- Index tokens will be tradeable on both the YDragon platform and Pancakeswap, but only after the IMO period ends for the latter.
- When investing in an index it is advisable to buy (mint) the index from the YDragon platform, but when selling an index it is advisable to sell on Pancakeswap rather than sell (redeem) on the platform.
Read on for a full guide on how to use our platform.
YDragon IndexPad
Let’s take a walk through the YDragon IndexPad platform UI and ensure you know how to get invested without any problems.
The YDragon IndexPad
The image you see above is the IndexPad UI. When the IMO (Index Minting Event) begins you will be presented with this on the home page of the YDragon site.
This section provides you with some basic overview details of the index itself. To get started investing in the index, click the red “Enter!” button.
When You Click “Enter!”
After you click on the enter button, it will present you with the above. Input your investment into the top box, what you receive will be calculated automatically, then click “Buy”. Simple!
This will essentially buy up the underlying assets in the index and store them in a vault and present you with one token (the index token — BSCX) representing all of the underlying assets.
Index Products
After the IMO ends the IndexPad section will be cleared from the home page of the site and the index will now reside on the Index Products page. Everything you see of course is on our testnet, but the general UI will mirror what you see here.
As you can see, on this page you are shown a number of key metrics such as market cap, price (which is of course the basket price of the assets within), and a number of profit / loss timeframes. We do hope of course all of these numbers are green with a + next to the, but we and all of you know what the markets can be like at times!
Choose an Index
Once you select your index of choice, you will be presented with the below.
As you can see, within the index screen you are presented with a number of key pieces of info; market cap, total supply, inception date, your balance, and at the bottom, the assets within the index and their key numbers, weights and values. You are also able to buy (mint) and sell (redeem) index tokens as you wish.
Yield to the mighty.
Buy YDR here.
Contract Address: 0x3757232b55e60da4a8793183ac030cfce4c3865d
If you’re curious about the listing and performance and would like to take a look at the charts, this should make life easier for you. You can find the BSC chart here and the ETH chart here.
Find out more about YDragon on our website.
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