Posted Thursday Aug 12, 2021
Hello #PartySquad, we are here to dive deeper into our token known as $YAY. We want to start by mentioning the essential details about it:
$YAY tokens are currently stored in our multi-signature wallet, which gives more security against one-owner transactions, preventing a member from PartySwap from sending $YAY tokens without the confirmation of other team members. We are also adding advisors to our multi-signature wallet to strengthen its security among the community. We will reveal our advisors soon in a new blog post, keep an eye on it!
We wanted our platform to feel as fun as possible, so the name $YAY felt like an incredible idea to incentive the concepts we wanted to promote. We want you to look at $YAY and remind you we are in an ambient that's chilling, mixing it with the whole brand of our website, creating an uniform and unique platform that evokes entertainment and amusement.
This our official $YAY's token image, is a very basic one, with the color of our branding standing as the main color of the coin. Obviously, the Y letter is a reference to the word "YAY". We hope you find this token icon useful to differentiate from other similar coins with similar name.
Yes, we will have an Airdrop, and it is going to be announced in the coming weeks before the end of the month. So stay tuned; we want as many $YAY tokens to be distributed to the most significant amount of audience possible.
In our platform there are going to be various staking activities that will allow users to use $YAY to gain even more money over time. First off, we will have our Yield Farming system called "Piñatas", where users can stake different coins from the Avalanche Ecosystem to earn $YAYs as reward (there will be also $YAY pairs, with the biggest incentives). We will also have a section named Jacuzzi, which is basically our single-sided pool where users can stake their $YAY savings to generate even more $YAY rewards. This pools is a great incentive to earn money if you are planning to hold $YAY for a medium or long period of time.
As explained in our Tokenomics, $YAY token is planned to be the base currency for our video games catalog, where users can play and bet against each other to earn more money. And yes, there will be a lot of experimental approaches: we want to offer the most famous crypto-games and the most unusual ones. After launch, we will dive deeper into this in a new blog post.
We believe in Avalanche as a system that can scale further and give users the best blockchain experience using smart contracts. We also consider how Avalanche is the most decentralized chain from the competition and the one that can approach more users at the same time. We are happy to support Avalanche as much as we can, so that's why we are having a friendly approach with most projects based on it.
PartySwap is a Decentralized Exchange (DEX) launched in Avalanche where you can do permissionless swaps between currencies, earn interests in farms and liquidity pools in one interoperable, highly scalable ecosystem.
If you have inquiries about our platform, please don't feel afraid to ask! [email protected]