These lands and this weight will continue beyond our time.
And each path we take
Every scene that our vision graces
Will be wrought into the essence that defines our future’s shape
Luring life to become enriched
By treasures long ago forgotten.
Across the spaces of all internet, finance, commerce both physical and digital, we are approaching the emergence of new systems faster and more aggressively than we might expect. Technology is a tool to be leveraged not only in a linear sense of improving on what systems already exist but a tool that can fundamentally reveal the path to entire new systems.
We stand at those cross roads again.
Powered by the development efforts within open source and decentralized smart contract software and physical infrastructure we have reached a point of reckoning where abstract notions of value can become realized in terms of real liquid gains. We see a future of pure liquidity across bountiful streams of transactions, all combining into one expanding network of accounting which attests transparently for all that occurs within its scope.
New realms are emerging which go beyond what we have known prior. Rooted in this foresight we have emerged to produce the Generational Yield across time which may shine as a guiding light. Within the power of smart contracts lay the foundation for the Yearn Generation of Yield ecosystem. Powered by the magic of on chain randomization provided by Chainlink, the process of aggregating yield can be evolved into domains that embrace the social and community aspects of a platform and allow opportunity for a new dimension of yield generation and governance. No longer does a platform need to be limited in seeing users as nothing more than a wallet address with a balance. The time has come for us to embrace the new opportunities that exist over the coming generations and lay the foundations for a sustained Generation of Yield.
This is a long page. a button in the bottom right of your screen will appear as you scroll that you can use to return to the index at any time.
The YGY Platform Basics
Yearn Generation of Yield is an open source community operated defi experiment focused upon exploring innovations within governance and the distribution of yield. Through the power of randomization and probability a new dimension appears to shape the form of yield which vault depositors may obtain. From this dimension mechanics are added that allow for novel ways to leverage emergent and incentivized social dynamics across time for the generation of yield.
Foundational to the platform are the two tokens YGY and RAM. With YGY as a token of governance used to guide the system’s rules across each generation, the RAM token is used to purchase utilities that allow a wallet to effect yield beyond the power of it’s principal stake within the Generational Yield Vaults.
The Generational Yield Vaults embody the core of the Yearn Generation of Yield platform. Fundamentally they consist of zero loss single asset staking pools which have variable return based on the rules defined for a fixed period of time called a Generation. Yield is returned in the staked asset within the temporal limit of each generation and distributed at the end through a winning event powered by randomization and social gamification. The rules of this winning event are variable through innovative governance across generations. With a finite supply of YGY as the governance instrument wallets will have to prioritize which aspects of each generation are relevant to adjust as they attempt to social engineer maximal gains.
Beneath the surface of this platform exists the mainnet liquidity vault for the YGY/RAM permanent wrap which provides a further layer for wallets to participate within the YGY platform outside of the Generational Yield Vaults. Through the RAM transfer tax, LP deposited into the YGY/RAM vault will yield a % of each RAM transfer. This serves as an incentive for liquidity providers to deposit into the vault and be rewarded as the platform grows in size. Furthermore, liquidity providers are able to obtain a limited number of powerful NFT tokens per wallet which will allow direct harvesting of the Generational Yield without the need to participate in those vaults. This second layer of incentive allows wallets who choose not to partake in the gamified environment of the Generational Yield Vault to participate within the YGY ecosystem easily. Secondly this provides opportunity for wallets who provide liquidity and also stake into the Generational Yield Vault to increase their power dramatically and become instrumental leaders.
The Tribal System
The Generational Yield Vaults are sealed to all but the members of the YGY tribes, Four Tribes that define the culture of the vaults and the dynamics between staked assets and the distribution of yield over time.
Any wallet may choose to join one of the tribes for only the network fee. The YGY platform takes no fee for joining a tribe.
This permanent action assigns a non tradeable NFT token to that wallet and identifies it as a member of the chosen tribe and provides access to the Generational Yield Vault and Tribal Governance. A wallet cannot change tribes.
This mechanic has been designed with intentionality: a wallet serves as an entity in terms of community / social relation and having accessible ways to represent social position we feel is a natural and inevitable step in the development of all defi. This trend will emerge quickly and across protocols until it is a common feature understood by defi users and integrated deep into the nature of yield for many platforms.
When behavioural patterns of wallets can be defined through a platform interaction it allows for a vast amount of gamification and the ability to embrace chaos rather than avoid it. The separation of wallets into tribes is a necessary mechanic in order to create a secure layer between the generation of yield and the distribution of yield. Although these two factors tie into each other we should endeavour to have a system where the security of yield generation capacities is insulated from the process of how that yield is distributed. Under these conditions, within a zero loss system, risk can expand into wallet behaviour in the gamified vaults without risking loss of principal.
Tribal members will be key in determining the performance of their tribe and thus affecting the distribution of yield. The gamified environment is designed to provide a large number of potential scenarios and a rich opportunity for complex strategies to emerge.
Each Tribe will have it’s own tribal governance reserved exclusively for its members. This will allow a tribe to determine how yield is distributed among its members and also will allow a way to internally reflect decisions about allocations of power towards various members within the tribe based on their class.
With the tribal system creating effective “bins” for social group variability coupled to yield states we can extend this dynamic towards an additional layer identified by “classes” for individual wallets within a tribe. Classes will be defined by non tradeable NFTs that are purchasable with RAM. A wallet does not have to obtain a class.
Each tribe is made up of a collection of tribal members who have the option to specialize their abilities via a class system. These classes allow a wallet associated with a tribal member to express potent abilities that can alter the direction of a tribe, a generation, and even multigenerational factors.
The classes are designed to reflect 4 main characteristics present within a tribal community. Each class will correspond to a unique multiplier for a specific aspect of the Yearn Generation of Yield platform. The classes are further divided into 3 tiers which allow a wallet to increase the power of their abilities over generations depending on their behaviour and capacities. A wallet may only claim one class at a given time, though they may change their class over generations with the power of the RAM spendable token.
The tribal warrior is driven by a vision beyond their own gain. Rooted in sacrifice and a dedication to serving the tribe the warrior is able to increase the effectiveness of their tribe as a whole. Through the manitantince of a warrior culture within a tribe wallets may use force of will to guide generations through the ages to accumulate wealth.
Wallets which choose to take the path of the warrior will find that their assets staked into the Generational Yield Vaults have an increased multiplier for positively affecting the potential yield of their tribe.
The warrior acts with knowledge that the fate of all tribes may, at any moment, be directly altered by their presence. The sight of a large band of warriors is enough to make even the most wealthy tribes pause to consider their future.
The merchant is representative of those wallets which prefer to see their contributions to the tribe returned back to them personally so that they may enrich their own wealth. Guided by the philosophy that a tribe is nothing without the value of it’s staked assets a merchant understands that those who provide the most value should be personally compensated in return.
Merchant class increases the multiplier for positively affecting their own personal yield. Assets staked by merchants into the Generational Yield Vaults increase the potential returns for that unique wallet.
A merchant is guided by the belief and pragmatism that without their contribution a tribe would never experience the growth that is necessary to blossom into a powerful multigenerational fount of power.
A sage is guided by principals beyond what the common tribal member can see. Rooted in the foresight of long term gamification and controlling the rules of global and local governance, a sage has honed their ability to guide the course of Generations across time.
Sage class allows staked YGY tokens into governance contracts to have an increased multiplier for voting purposes. This allows a sage to effectively increase the power of their YGY votes and use this advantage to guide the rules of each generation and their own tribe over the long run in pursuit of maximal gains. A unique class that requires strong social cohesion and foreplanning in an ever changing landscape.
Some say that it is sages who truly control the fate of generations from behind the scenes.
Rooted in utility and adaptability above all else the shepherd endures as the pastoral root of all specialized classes. While being subsequently less powerful than a specialist the Shepard has incredible power that can be wielded over time to effect the course of Generations venturing into the unknown.
A Shepard being the most humble of all of the classes has innate bonus multipliers to all three categories of specialization present within a tribe. This comes with the drawback of being unable to reach equivalent power of specialists (warrior, merchant, sage). Shepherds receive boosts to the power of their stake to increase the performance of their tribe, a boost to their personal performance, and a boost to the weight of their governance vote.
It is said that a tribe of shepherds has the ability to adapt and overcome any challenge in the long run.
Generational Yield Vault
The generational yield vault is a zero loss, single asset staking contract which allows communities to leverage their collective power into the generation of yield far greater than any individual could achieve. The vaults exist as part of an innovative system that allows an exploration of social engineering, active governance, and the distribution of yield.
If a wallet possesses any tribal NFT they may access the Generational Yield Vaults to deposit or withdraw their principal staked assets at any time they wish. Each wallet’s contribution is associated with their member tribe and the four tribe’s total contributions are combined into the Generational Yield Vault. The assets are then sent to external yield generation platforms (such as Compound and others) to generate yield for a fixed amount of time called a Generation.
Once the end of the Generation is reached the distribution of the yield event takes place.
The distribution event is a two part process:
- Using a verified random function call from Chainlink to power a gamified probability layer, (a) tribe(s) is(are) first selected.
- After the tribal selection phase has completed then the individual wallets within the winning tribe(s) undergo a similar probability event and the winners obtain the yield.
When the winning event is complete and yield distributed the vault enters into a Governance Session where the global rules for the next generation are determined over a fixed period time. Once the Governance Session is over the next generation begins and the cycle continues. This loop defines the basic recurring process of the Generational Yield Vault.
From this basis a large domain of gamification is constructed which allows the Vaults to serve as an exploratory system for questions concerning governance and social engineering. In order to accomplish this a unique governance system is designed that allows for control of many of the parameters within the Generational Yield Vault. These parameters, which are detailed in the governance section, allow the vault to become more than a game of chance.
The Generational Yield Vault requires no purchase of any asset or item from YGY to participate. Any wallet which obtains tribal membership and enters into the vault has an opportunity to obtain yield. This allows wallets which do not have the resources (time, assets, desire) to partake in the larger gamified domain of the platform an easy way to save their assets in a secure contract that generates experimental yield over time.
The Ancestral Treasury is a key element within the Generational Yield Vault. It forms the root of our innovations within compounding dynamics (intergenerational compounding). You should familiarize yourself with this mechanic if you wish to understand the gamification of the vaults.
Designed as a way to socially layer access to compounding funds, the Ancestral Treasury acts as a novel innovation in the design of yield distribution parameters. Not only does it serve as a fun mechanic for the YGY platform but it serves as an experimental testbed for how intergenerational patterns of yield distribution are governed across time in an environment that encourages competition and cooperation between multiple agents in a NFT labeled system.
This concept of “layering” is easily understood if we consider that any generated yield may be divided arbitrarily. Each of these divisions represents a portion of the total yield which we can “wrap” into rules concerning how the yield is distributed.
The Ancestral Treasury is the most basic approach to this process and allows us to introduce one of the most important features of the entire YGY platform: Incentivized Loss.
In order to construct a rule set that allows the dynamics envisioned for the YGY platform it is important to allow the winners to shift over time based on factors beyond randomness. To solve this challenge we create a system of incentivized loss to augment the probability system. We do this as a social control that obscures the future state of the system and encourages governance to reach for socially optimal distribution schemes in a changing environment.
In the most simple form the Ancestral Treasury is a secondary winning pot that is built from a fraction of the generational yield vaults (and external “offerings”) which has a separate set of rules for determining the winner. It is designed not to be won at each generation but to be won during unpredictable future generations, all controlled by the governance system over time. This allows the Ancestral Treasury to grow over multiple generations and also allows variability for it to become incredibly large or small depending on how the social dynamics intertwine with governance.
The rules concerning how the Ancestral Treasury is distributed allow the community to control the behaviour of the Ancestral Treasury while keeping it’s core functionality unchanged.
Each generation the Ancestral Treasury fraction will grow. This cannot be turned off but the rate at which it grows can be adjusted. Winning the Ancestral Treasury requires governance to first set the Ancestral Treasury event switch to “on” (it can also be turned off). In this state the Ancestral Treasury will become winnable within that specific Generation.
At the end of that Generation, during the Distribution Event, there will be a secondary event for winning the Ancestral Treasury if the switch is set to “on”.
Each Tribe has a variable probability value called the “ancestral treasury winning chance” which increases based on the performance during a Generation. A tribe many only obtain a maximum chance of 25% with this method, though there are ways to temporarily increase this chance through the use of RAM and other tokens.
All tribes start with a base of 0% chance to win the ancestral treasury vault. If a tribe obtains winnings from the Distribution Event for the Generational Yield Vault it’s chance will remain unchanged. If a tribe does not obtain winnings it will have it’s ancestral treasury winning chance increased. If multiple tribes fail to win Generational Yield for a given generation then the increase in chance is split among the losers with the highest increase going to the tribe with the least staked assets at the time of the Distribution event.
Each tribe may obtain a maximum of 25% ancestral treasury chance but the total for all tribes is not required to add up to 100%. If a tribe has won every Generational Yield Vault they would have a 0% chance to win the Ancestral Treasury, but the losing tribes may have accumulated chances ranging between 0.165% and 25%.
Under these conditions the Ancestral Treasury is not guaranteed to be won during a Generation by simply switching it on. It may happen that none of the tribes with positive chance values will win for that generation, allowing the Ancestral Treasury to carry on to the next Generation.
Once an Ancestral Treasury has been won all Tribes have their Ancestral Treasury Winning chances reset to 0% and the Ancestral Treasury returns to its initial state.
Governance of Generational Yield Vault
YGY takes a highly experimental approach to governance. Using a system whereby layer 2 governance transactions are used to alter the state of mainnet contracts, we are attempting a solution to the high costs associated with mainnet governance and thus provided room for gamification.
YGY token is used as the primary tool of governance. A wallet may submit YGY into a parameter within the voting contracts to indicate their preference for which rules should be introduced to the next Generation.
As long as the wallet’s YGY remains within that parameter there will be active interest, and hence “vote weight” for that parameter. A wallet may withdraw YGY at any time from the governance contract. If withdrawn, this will take away the weight of their vote and the governance contract will adjust accordingly.
Governance is broken down into two types:
- Control of global parameters (Generational Yield Vault Governance)
- Control of local parameters (Tribal Governance)
Furthermore, the Global Parameter governance process happens in two phases:
A Governance Session whereby rules are solidified during a fixed timeframe and then sent to the Generational Yield Vaults
Intragenerational Governance, whereby the global parameters may be adjusted via vote but are not finalized and submitted to the vaults- yet remain observable.
Throughout a Generation wallets are free to apply their votes within governance and change the perceived value of parameters, yet these votes will have no impact until after the current Generation is over and the Governance Session is finished for setting up the next generation.
This is called “Intragenerational Governance”. Designed to allow wallets to react in real time to display their desired governance decisions. Again, these votes will not be finalized until the next phase, the Governance Session.
In the interim between Generations, after the distribution event when the Governance Session begins, a timer will start. During this time wallets will continue to apply their YGY to their desired parameters. Once the time limit is reached the current state of all the votes will be sealed and sent to the Generational Vault contract. The next Generation of Yield will then begin.
For any parameter with discrete values YGY may be deposited into one of several vote pools for that parameter:
The vote pool with the largest votes will represent the chosen value for that parameter.
Several of these exist for users to alter for each Generation.
With only a few simple rules a large range of behaviours is possible.
Being that there is a limited mint of YGY, and no more can be created, governance agents will need to note the implications of this limit. If too much activity takes place within one parameter it will leave other parameters subject to greater volatility. Also, scarcity with the open market of YGY may play strongly into the availability of YGY.
Each parameter has what is called a Default Value. This serves the dual purpose of giving the Vault structure if no one chooses to vote and also creates “governance liquidity” so that each parameter has a minimum threshold of necessary YGY which must be voted in order to take control of the parameter (this plays more importance when the governance parameter value is continuous and not discrete). As an example: if the “default” YGY strength of a value for a parameter is 10, the total YGY voted into the parameter must be greater than 10 in order for governance users to take control of the parameter.
This default value is hardcoded into the platform. However, the “strength” of these default values can be adjusted by controlling governance of the LP+
Governance of Tribe
Any wallet with a tribal NFT can use YGY to vote for Global Governance parameters. Local parameters specific to a Tribe can only be governed by the members of that Tribe. This is done so that Tribes might determine internal factors such as how yield is distributed.
Opposite to the Generational Yield Vault Governance, the Tribal governance period lasts throughout the whole generation and becomes sealed at the end of a generation before the distribution event. When a Generation is complete, and the Distribution Event begins, all tribal governance values are sealed and sent into the distribution event.
NFT Market and Functionality
Staking, Burning, Transfer, Offering, Minting… NFTs play a vital role in the entire platform. The range of opportunities that exist for all of defi and blockchain communities to integrate through NFTs in a unique way is obvious as a potential springboard for network effects related to cultural aspects of value attribution.
To obtain NFTs within YGY you must either use RAM to purchase or accomplish specific historical behavioural goals such as:
- Number of generations staked
- Number of generations as a class
- Total Generational Yield won
- Length of Time YGY locked in parameters
- Holding specific external token in wallets while performing an action (dXIOT will act as a rare key)
- Offering up donations to the LP+
- Converting ETH or YGY to YGY/RAM on the mainnet contract
- Spend LINK to call the VRF
- And other behaviours that the community may dream up (within reason)
NFTs will be played as offerings into a limited set of global pools for a generation. While an NFT is being played it has a minimum threshold of time that must occur before it becomes “sealed” into play for the whole generation. Alternatively RAM may be put forth towards the “staked” NFT on either a “seal” or “break” side.
When the threshold is reached an NFT can be sealed (or broken) as soon as the RAM transfer completes.
A “broke” NFT will be returned to its owner. A sealed NFT will be solidified into play. Stronger NFTs will take longer to “seal” or cost more RAM to seal or break. Many NFTs will be burnt on use.
Once a NFT has been sealed into play it will produce its effect once the generation has completed. The range of possible effects may be quite dramatic depending on the nature of the NFTs. One such is the generational yield scalp card that can be obtained from converting YGY or ETH on the YGY/RAM vault contract. These NFTS will produce direct scalps between 1-5% upon the yield. Over time, pending the growth of the platform, these may become quite powerful.
The full design of this system is still being finalized.
RAM token is an open source transfer tax based limited supply token. Each time the token is transferred in a buy, sell, or simple wallet move, a tax is extracted in RAM from the transfer. This tax is then distributed to the depositors in the YGY/RAM vault.
RAM was minted in a full, finished mint 100,000 tokens.
A portion was used to start a YGY/RAM liquidity pool whereby YGY holders could swap to RAM if they wished.
YGY/RAM Liquidity is permanently locked!
RAM is the primary utility token of the platform and allows for a variety of functions: purchase of utility NFTs, changing wallet “class”, boosting YGY/RAM vault returns, ancestral treasury effects and other functions that affect the Generational Yield Vaults. The range of features will be expanded over time and with community input.
YGY is a legendary token. Inspired by XIOT, YGY is an open source and simple ER-20 with simple functions. This allows YGY to be a very fluid ERC-20 which can transit across chains easily with its simple code. YGY serves as the core governance token, a weight within the system of voting and parameter adjustment contracts. Functionality built off YGY is purely within the smart contracts that use it.
A complete and finite mint of 63333 tokens composes YGY.
Tokenomics of distribution were as follows.
- 17,500 tokens public sale
- 6600 token for marketing, development and other
- 100% of eth raised initially locked in liquidity on uniswap
- 60% eth raise to be released in tranches to cover marketing and development costs (no management fee).
- 40% locked liquidity for the remaining initial ETH raise.
- Founder and main YGY and RAM wallet operator takes no YGY or RAM.
YGY and RAM wallet balances remaining are reserved solely for community rewards and liquidity pools as the platform completes build.
Mainnet Liqudity Environment
YGY is envisioned as a chain agnostic protocol yet maintaining an ETH mainnet presence is vital in order to facilitate the vision.
The first launched component of YGY is our mainnet vault for YGY/RAM which can be found on our platform page of the website.
This vault has several functions:
convert ETH or YGY to YGY/RAM LP, obtain a % of the RAM Transfer tax, a chance to obtain powerful “generational scalping” NFTs through ETH contribution tiers; The Chainlink VRF call function operates this.
The Governance controller for the LP+ tax fee, Boost to the vault returns with RAM controlled by a community resettable epoch minimum time button.
And a special NFT associated with staking ETH while holding 20 dXIOT tokens in your wallet.
Mainnet Liquidity NFTs
Each wallet may obtain a limited number of NFTs which allow a direct % scalp on the generational yield. There are 5 tiers of NFT, 1% , 2%, 3%, 4%, 5% . Using these NFTs causes them to be burnt and the wallet deploying them will obtain a % of the yield generated from the Generational Yield Vault once the Generation is over. However there will be a minimum for how many NFTs of this type can be active per generation. RAM will be used to ensure your NFT is played rather than someone else’s.
If you hold 20 dXIOT in your wallet and convert 10 eth worth into the YGY/RAM pool you will obtain a special dXIOT NFT that when used will boost your YGY/RAM vault rewards for a set amount of time.
Similarly, if you call the Chainlink VRF you will obtain a LINK NFT which will boost your YGY/RAM pool returns for a set amount of time.
LP+ (liquidity pool +) is designed as an agent that operates many features of the YGY platform. It behaves similarly to any wallet but it has special behavioral constraints in that it’s prime directive is to increase the value of the YGY and RAM token through managing buybacks, arbitrage and personal yield aggregation. It also serves as the primary method for distribution of the YGY token once the initial wallet has been fully deployed to the community.
The LP+ is funded from the mainnet YGY/RAM vault conversion, as well as donations and offerings. A fee is taken for anyone converting ETH or YGY into the wrap. This governable fee goes straight to the LP+ wallet and will be used to fund its operations.
Default Values within the Global Governance contracts are also controlled by the LP+
Using mainnet governance, the weight of the default strength for the generational yield vaults can be set.
Future Visions and Possibilities
All of this Generation of Yield only serves as an incentive to draw wallets towards the final vision of YGY: To Generate a new dimension in the very fabric of Governance tokens and the nature of what governance means, providing rich governance data from a unique set of rules.
The Generational Yield Vault serves as a foundation of interest to offer an entrance into this new dimension of Governance control dynamics across myriads of governance tokens from various systems of the metaverse.
It is envisioned that any governance token that can be staked through the YGY platform may be “won” in terms of the access to its governance function (voting). A tribe might win access, or maybe an individual… or perhaps something else?
A Provably Fair blockchain-based PVP mechanic can be used to augment the social gamification aspects of the Generational Yield Vaults, serving as an exemplification for the types of mechanics that are necessary for social incentives in governance. We can begin to see a path towards a system where the control of governance functions can be separated from the distribution of it’s yield as a liquid asset in the free market.
It is understood that to reach this vision is the goal of YGY. When this stage is reached then no operators will be required to build the code and all future additions and alterations will only be within a set range of parameters.
Though generating yield may serve as an incentive the true “Gem” of the entire platform exists because of the perception held towards governance tokens. Currently it is seen that financial markets are emerging for liquid governance tokens. Naturally it makes sense to treat Governance Tokens as more than financial assets but to think of them in terms of platform control keys, in terms of power. This is especially true when there are indications within the space that NFT and governance have a deep interconnectivity that is still being explored and developed, churned out from the abstract much like the entire space of these digital assets and protocols.
With this perception we can separate the revenues of the free market from the function of governance action (voting) and provide a system that controls access to governance mechanics without ownership transfer for the yield generating capabilities of the open market asset. This is the key metric for understanding the value proposition within the vision.
Pragmatically we need to allow governance of arbitrary platforms to be partially controlled by a direct (wallet on wallet challenge event with community integrations) form of provably fair blockchain PvP and an indirect (generational yield vaults) long term social engineering coupled to the yield generation of the liquid asset. Current methods require asking a native governance platform to allow voting with a synthetic. This is too crude to allow the depth of control that is necessary for a fair system. With an NFT labeled system it is possible to begin to explore the types of relationships that might form and bring a deeper understanding towards the nature of consensus and sustainability.
Questions of sustainability are at the origin of the YGY vision. It is observed that too many systems only consider sustainability by focusing on a perpetual adaptation to “now”. This may serve to limit the types of systems that are able to be conceived of and prevent the development of necessary outlets for forces that may otherwise go undetected or unmeasurable.
If a platform enriches it’s users then there is the possibility that eventually these users may become more powerful than the platform itself and with their wealth they may no longer need to use this platform. Enriching the community can cause the platform to dissolve in the long run as market cycles of innovation reallocate capital. We have yet to truly test the limits of how systems are governed over time of hundreds of years as it seems that mostly what occurs is adjustments to the rules to favor the flavor of a generation. When these adjustments add up over time there becomes a divergence between the intentions of the past and the future. This is partly why we want to look at a system which has a set of immutable rules which can only be altered within a narrow range.
This is a challenging experiment which the Yearn Generation of Yield platform seeks to explore.
Join us in venturing into the unknown and witness what may become through these new dimensions.