What is Yearn Generation of Yield ?
Yearn Generation of Yield is an experimental community owned DeFi platform specialized in low risk stable coin yield farms supercharged by flash loan collateralization. This provides an opportunity for farmers to safely diversify the source of their yields and acts as an experimental testbed for the development of the Yearn Generation of Yield governance platform.
What is the purpose of $YGY?
$YGY, the native token of the Yearn Generation of Yield platform is used in a variety of ways. It is used as both a reward for participation within the platform, a governance token used by the community to adjust parameters of the system, and also the internal fuel burned to run YGY collateral operations.
Why community governance?
For yield and collateral platforms to have longevity it is vital that they are created with community ownership in mind from the very beginning. This philosophy defines the intentions behind the YGY vision. Through our unique LP+ system the YGY platform becomes a self-sustaining entity that does not require centralized control.
Every token holder has a vote. As a community member you can vote to change parameters of the system such as how rewards are allocated or how fast a collateral pool will compound, or how votes are weighted by volume and time.
Who Founded Yearn Generation of Yield?
Yearn Generation of Yield has no centralized controlling figure. It is designed to be self-sustaining and adjustable by the community.
An initial seed team of developers from a variety of backgrounds worked to create the basis of the Yearn Generation of Yield platform. Funds collected from the initial raise will be used to complete the system through rapid expansion via our industry connections. The YGY development team is ready to add reputable developers from within the Ethereum smart contract community to our development team. The development of this platform will be made open and public to the community for auditability and participation.
After the core development hiring phase the remainder of the ETH funds will be put into a multi signature controlled wallet that will be passed on to the community for the strategic continued support of the project.