[NEWS] Yay!, which is scheduled to conduct an IEO on bitFlyer, releases a white paper for its own cryptocurrency "YAY"

Nanameue, which operates "Yay!", a virtual world where anyone can be themselves, announced on the 8th the white paper for its own crypto asset (virtual currency), YAY, which it plans to issue in the future.

The white paper provides a detailed explanation of the tokenomics and roadmap using YAY. By utilizing YAY, it will create a future where tokens are naturally used throughout the Yay! community, and it aims to "realize SocialFi originating in Japan."

Yay! emphasizes a world view that is easy and casual for users who have never touched crypto assets before, and the realization of sustainable token economics.

We have thoroughly created a system that allows users, whether they are beginners or advanced users who have already used DeFi, to receive incentives by contributing to the Yay! community while using the service. Nanameue ​​says that this system will allow "Yay! to become a gateway to crypto assets."

In addition, considering the possibility that Yay! will be the first Web 3.0 experience, we have created a design that does not require a wallet, which is complicated to prepare and manage. On the other hand, according to Takahiro Ishihama, CEO of Nanameue, the design allows users who are familiar with GameFi and DeFi to maximize their returns by taking risks.

The company also places importance on the presence of external traders, and has designed the app so that liquidity generated by the app is concentrated on YAY. It seems that they paid particular attention to these personas and division of roles when designing the tokenomics.

Ishihama said, "In the future, we will implement the functions described in the white paper, prepare for the token listing, and refine the usability, aiming for mass adoption that meets the expectations of our users."

Four important tokens in tokenomics

In YAY's tokenomics, in addition to the governance token YAY issued on Ethereum (ETH), the utility token "EMPLE" will be issued. EMPLE is considering multi-chain support in the future, and will initially be issued on Arbitrum (ARB).

These EMPLE can be earned as a reward for contributing to the community or through Play to Earn via an NFT called "Yay! Pal".

Issuing Yay! Pal requires another NFT called "Yay! Genesis". The limit on issuing Yay! Genesis is set at 5,000, and as long as you hold it, you can issue Yay! Pal or sell it on the NFT marketplace provided by Yay!.

Another feature of YAY's tokenomics is that there are two types: "marketplace type" and "pool type".

In the marketplace type, you can participate by purchasing Yay! Pal, and it is designed to allow you to earn more EMPLE than the pool type.

▶︎Image of the marketplace type

In addition, you can participate in the pool type by acquiring Yay! Pal for free. Although you can earn less EMPLE than in the marketplace type, you do not need the funds to purchase Yay! Pal, and most of the process is completed off-chain until you exchange it for YAY, making it easy for cryptocurrency beginners to participate.

▶Pool-type image

The plan is to launch the testnet in the future to confirm the operation.

Nanameue ​​signed an IEO contract with domestic cryptocurrency exchange bitFlyer in August last year. The timing of the IEO has not been disclosed at this time.

Reference:Announcement
Image: Excerpt from the announcement

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