The YDT token, or YouDonate token, is a multifunctional token created to function a proof of donation, allow participation in governance of the protocol, and allow entry to the protocol lottery. With a complete provide of 100 billion tokens, 10 billion of that are pre-mined with deflationary options, YDT has been designed to be enticing to customers and the group at massive.
Complete Provide
The overall provide of YDT will likely be 100 billion tokens. 10 billion of those tokens will likely be pre-mined and break up between the dev group (50%) and the simiDAO treasury (50%). The remaining 90 billion tokens will likely be minted over time in response to Donations on the protocol.
Deflationary Mechanism
The YDT token has a deflationary mechanism in place, the place 20% of the lottery pool will likely be burned each spherical. It will assist to make sure that the worth of the token stays constant over time, whereas additionally incentivizing customers to take part within the protocol Governance. The YDT protocol will likely be ruled by SimiDAO, a decentralised autonomous organisation (DAO) made up of Neighborhood members. Token holders will be capable of vote on key selections in regards to the protocol, similar to modifications to the tokenomics, the allocation of funds, and the distribution of rewards.
Distribution
The YDT tokens will likely be distributed in two methods: by way of the YouDonate protocol and potential airdrops. Customers can donate on to charities by way of the YouDonate protocol, with 5% of all donations going to the SimiDAO Treasury. We are going to then use this Treasury to incentivize SimiDAO(4%) and Dev Staff(1%).
Staking & Rewards
YDT staking will likely be enabled for SimiDAO members, to allow them to earn from the incentives. Rewards will likely be distributed in tokens donated, and members’ rewards will likely be calculated from the variety of tokens held multiplied by their voting exercise. Protocol charges fund these rewards.
Each day Lottery Reward System(DLRS)
The DLRS will likely be funded with 10K USD price of YDT each week, this will likely be from the simiDAO treasury, with 100% of YDT paid from tickets offered going again into the Lottery swimming pools. This can be a every day lottery.
Token Burn Occasions
SimiDAO will periodically burn YDT tokens with the intention to additional improve shortage of the asset and incentivize customers to carry onto their tokens as an alternative of promoting them off rapidly after receiving rewards or jackpots from taking part in actions inside YouDonate protocol. The quantity burned throughout these occasions is decided by group votes by way of the SimiDAO governance course of.
Conclusion
The YDT token has been designed to be enticing to customers and the group at massive. With a complete provide of 100 billion tokens, 10 billion of that are pre-mined, and deflationary options, YDT is a wonderful alternative for these seeking to take part within the YouDonate protocol. The mixture of staking rewards, Each day Lottery Reward System and token burns will be sure that the worth of the token stays constant over time whereas additionally offering incentives for customers to actively take part in Governance selections.
