As the world wakes up from its COVID coma, YOLOrekt is stepping back out with new ‘in-game liquidity’ and the YOLO token. Before we go any further, allow us to introduce ourselves. YOLOrekt, which launched originally back in 2019, is a novel, social, hyper-gamified approach to the short-term prediction market on the price of ETH and other crypto assets. Viral and addictive by nature, early degenerates loved the gamified and social feel of this fast-paced prediction platform, pushing YOLOrekt to the top of DappRadar.
This announcement comes on the heels of new funding from Pantera Capital, Lemniscap, AngelDAO, and other angel investors such as Josh Hannah, Former CEO of BetFair.com, Jack Herrick, Founder of WikiHow, and several angel investors totaling 1.75 million dollars. Everyone loves a comeback, and this one is ready to take the world by storm.
“YOLOrekt was designed to cater to a short attention span and for options traders who don’t have to own the asset or buy an option to predict where the price is heading within the next few minutes,” says YOLOrekt Founder Yogesh Srihari.
For those who don’t remember or are new to the game: YOLOrekt’s players bid on the price of a specific asset such as Ethereum, predicting whether the price will be above or below a specific strike price in the next 3 minutes. As part of the upcoming re-launch of the platform, YOLOrekt plans to issue a YOLO token that enables decentralized liquidity, thereby incentivizing liquidity providers to turn a profit (via a fee) on each game while contributing to the global liquidity pool.
New ‘in-game liquidity,’ reimagined.
In each game, a portion of the liquidity from YOLOrekt’s liquidity pool will be drawn and placed as bids to balance bid amounts on each side against the incoming users’ bids. The size of the LP pool grows or shrinks based on a few factors:
- Liquidity mining on YOLOrekt is unique because the pool plays with or against the players, depending on odds. Asymmetric Impermanent Loss in the pool reduces losses to one side. Liquidity providers can further take their YOLO LP tokens to receive additional rewards in YOLO.
- Liquidity providers on YOLOrekt earn 3% of each game’s fee in ETH and YOLO. You can also stake your LP to earn additional YOLO rewards.
- Profits earned through in-game liquidity can increase the size of the pool after each game.
- Conversely, losses suffered through in-game liquidity can decrease the size of the pool.
Upcoming Token Issuance
YOLOrekt is deploying a first of its kind synced token dual-issuance both on Ethereum and Polygon at the same time. Thus, the contributors can choose to contribute to liquidity by acquiring YOLO tokens on Ethereum with ETH or on Polygon with Matic Ether (mETH). The issuance contracts, simply stated, accept contributions until the end of the token issuance period and then proportionally distribute the combined 5% issuance amount between all the contributors on both chains.
More information and date regarding our Token Issuance on Polygon and Ethereum will be available in our next update.
Until then, keep calm and YOLO on!
Connect with Us
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- View more information @ yolorekt.finance
