YSL.IO 💎 - August 2021 Recap
A look back at everything that’s happened in August!
This is likely how every recap is going to start but, What. A. Month!
It’s a popular saying that 3 days in the crypto space is a month in the real world. It certainly does feel that way when you stop and take a look back at all that’s been done since the beginning of August. 😂
With everything that’s been going on in the space, it wouldn’t be surprising if you missed out on some of the amazing things the YSL.IO team have accomplished in the past month. Fret not though, this article will take the opportunity to look back, highlight the achievements we’ve made in the last 30 days and hopefully get your feedback on what could’ve been done better.
So! What’s been happening?
sYSL OTC Buy-Back 🔁
When the 13th of September 2021 was initially announced as the vaults go-live date, a few investors who participated in Day 7 of the public sale expressed interest in withdrawing from YSL.IO. While unfortunate, the YSL.IO team respected their wishes and offered to buy-back their unlocked sYSL for $4.69 each, the going market rate at the time.
This hopefully highlights just how much we value the feedback of our community. We don’t pretend we have all the answers to everything so do let us know your thoughts and any feedback you might have about YSL.IO via our social media channels! We do take them into consideration.
Our New X-tremely Deflationary Token - xYSL 🔥
One of the biggest announcements this month was the introduction of our new x-tremely deflationary token. With a maximum supply of 80,000 tokens and a deflationary mechanism that is independent of trading activity, it comes as no surprise that we’ve since received plenty of interest in our new offering.
In this article, we covered how xYSL is an upgrade to the deflationary token model in the market today and dived into everything you need to know about xYSL. ⏰ Make sure you check it out as you might still make it in time for the xYSL Community Sale! (which could save you 12.5% in transaction fees!)
At the time of publishing this article, you’d still be eligible for the xYSL Airdrop, Community Sale and ILO events!
sYSL-BUSD Pools Established on PancakeSwap 🥞 and ApeSwap 🐵
Another event this month was the establishment of sYSL-BUSD liquidity pools on ApeSwap and PancakeSwap. This marks a significant shift away from how the price of sYSL was originally determined.
Due to the forces of market and demand, the liquidity pool price of sYSL can now be determined by the ratio of sYSL to BUSD in said liquidity pools. However, another price, the locked liquidity price of sYSL is guaranteed by YSL.IO based on the amount of YSL-BUSD locked liquidity 🔒. While this effectively means that sYSL will theoretically have 2 prices at any one point in time, YSL.IO will always use the higher price of the two in calculations on the platform, known as the protocol price.
In addition, this also means that investors can now freely trade sYSL on liquidity pools without incurring the sYSL dynamic exit fee.
That’s not all there is to it though! Arbitrage opportunities, a new liquidity mining reward, the reason we chose to also create a pool on PancakeSwap, all of this and more is covered in greater detail here in this article.
Upgraded Tokenomics 💞
With the recent introduction of the xYSL token, the YSL and sYSL tokenomics have been revamped to integrate xYSL into the ecosystem. Some key changes include the Optimisation tax now going towards burning xYSL 🔥. Here's a summary of the changes:
- Referral rewards now pay out 10% of the referees’ Compounded Returns
- Liquidity Mining Rewards updated to include the new xYSL & sYSL vaults
- Optimisation tax set to 15%, with the full amount going towards buying & burning xYSL
YSL & sYSL Listed on Various Crypto Platforms 📈
Both YSL and sYSL have now been recognized and listed on CoinGecko and CoinMarketCap, which marks a milestone for any crypto project looking to break into the market. Various conditions have to be met in order to be listed on these price tracking platforms, and serve to give future investors a sense of security that these tokens belong to a project that will go the distance.
In addition, sYSL has also been listed on Blockfolio and Zapper.fi, allowing investors to easily buy into and sell sYSL. This combined with sYSL’s listing on Delta, a popular crypto investment tracker used by many investors, once again reinforces the notion that YSL.IO is a project that is here to stay and will go far in the future.
Finally, YSL was listed on 1inch 🦄, a very well known Decentralized liquidity aggregator that likely needs no introduction.
Media Coverage 📷
With the many changes being made to the YSL.IO ecosystem, the introduction of xYSL and the introduction of the sYSL-BUSD liquidity pools, the Gitbook and various Medium articles were all revamped to reflect the updated information. We’ve also released Part 4 of the Busy Investors Guide, which acts as a one-stop shop resource for everything you needed to know about various YSL.IOs tokens!
A huge shout-out as well for our friends at BSCNews for covering the release of our xYSL token. Their article on xYSL can be found here 📰.
Let’s also not forget the amazing YouTube coverage we’ve seen so far. SavageFitnessCrypto released a great introductory video on xYSL, and Crypto Mischief also released an amazing video highlighting the various changes that happened in the month of August. A giveaway announced at the end of each video also saw 35 lucky winners walking away with $100 in sYSL 🤩!
To Polygon We Go! 🚀
After a hair-rising, adrenaline-filled vote guaranteed to keep you on the edge of your seats, the community collectively voted Polygon as YSL.IO’s first cross-chain destination!
Of the 575 votes received for the Twitter poll (thank you for voting if you did), Polygon was the undisputed winner with 46.3% of the votes 🏆. In the meantime, Solana came in a close second at 32.2% so we’ll be sure to keep our eye on Solana as well.
Closing Thoughts 💭
It’s been a busy month indeed, with September looking just as busy due to the upcoming launch of our vaults on the 13th of September. While this article served as a great way to take a look back and appreciate all the things we’ve accomplished so far, we also want to look ahead to what’s to come. To that end, users can get ready for our announcement of a CertiK Audit 👀!
As alluded to at the start of the article, we also want to hear any thoughts or feedback you might have on what we’ve done so far. As usual, let us know in the comments below or in our Telegram group. We’re always listening and our team of helpful mods will get back to you as soon as they can!
Signing off for now ✌🏻
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