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$CBLP Tokenomics
The CBLP token is the native governance and utility token of Yamfore. It is required to use the protocol’s services and provides a decentralized and fair way for individuals with the most monetary stake in the protocol to participate in governance. The CBLP token has three main utilities: Utility, Liquidity, and Governance.
The CBLP token is a key requirement for using Yamfore’s lending services. It is the native governance and utility token of Yamfore, and underpins the entire functionality of the protocol’s lending mechanism.
There is a total fixed supply of 1 billion CBLP tokens, which will be distributed to the community in a fair and transparent manner. Yamfore is committed to a community-focused token distribution, with 75%+ of the tokens allocated to community members. This ensures that the CBLP token is distributed to those who are most supportive of the protocol’s success, and not just to a select few affluent individuals.
Cardanoscan:
https://cardanoscan.io/token/ee0633e757fdd1423220f43688c74678abde1cead7ce265ba8a24fcd43424c50?tab=transactions
Policy ID:
ee0633e757fdd1423220f43688c74678abde1cead7ce265ba8a24fcd
Fingerprint:
asset1vha2kdkxfegsam7qxr5hw8h7yglg9aljcphxph
*Note: Anyone can easily identify the official team wallets by searching for their respective ADA handles. This was deliberately done to ensure full transparency of funds*
$CBLP Treasury ( $yam_treasury )
50% of $CBLP will be allocated for the $CBLP treasury, which enables individuals to indirectly provide liquidity to Yamfore via the $CBLP auction portal.
Community ( $yam_community )
20% of $CBLP will be allocated to the community, with all generated revenue going towards bootstrapping the stablecoin treasury via the Fair Token Offering (FTO)
( The details of the FTO have yet to be released )
Miscellaneous ( $yam_misc )
5% of $CBLP will be allocated for miscellaneous development costs. These included: $CBLP liquidity provision, auxiliary development costs, community building initiatives, partnerships, bug bounties etc
The value of the CBLP token is primarily tied to the success and longevity of the Yamfore protocol. As Yamfore captures more market share, users, and liquidity, the demand for CBLP tokens will remain present, and growing. Yamfore has two mechanisms that facilitate its continuous growth: the Demand Cycle and the CBLP Treasury.
Demand Cycle
The demand cycle begins with the revenue from interest repayments on closed loan positions. The revenue is sent to the stablecoin treasury, which facilitates further loans and increases the number of borrowers that can be serviced. This influx of capital also increases demand for CBLP tokens in the secondary market, as more people seek to borrow from the newly available capital.
There will always be a base lending ratio that the market is willing to accept. When the ADA & CBLP lending ratio exceeds this base, no one is willing to take out a loan due to unfavorable terms. This base lending ratio is constantly changing and depends on general market sentiment and other economic factors. It is the responsibility of CBLP token holders to ensure that the base lending ratio is always appropriately set for the current market conditions through on-chain governance. An indicator of achieving this ratio is that the stablecoin treasury is always empty due to demand.
The Demand Cycle illustrated:
Demand > Funding > Liquidity
Demand:
The CBLP token is required to use the protocol, which sustains demand due to its utility. As the protocol is utilized by users seeking crypto-backed loans.
Funding:
The revenue from interest repayments is sent to the stablecoin treasury to facilitate further loans. This influx of funds increases the amount of capital available to borrowers.
Liquidity:
The influx of newly added funds in the stablecoin treasury also increases liquidity in the secondary markets for the CBLP token.
$CBLP Treasury
The Yamfore protocol holds an internal treasury that contains 50% (500 million) of the total fixed supply of the native governance and utility token of the protocol, CBLP. This treasury is referred to as the CBLP treasury, and enables individuals to indirectly provide liquidity to Yamfore by depositing their stablecoins into the protocol’s CBLP auction portal. In return, individuals will acquire an allocation of CBLP tokens, which is determined through fair market supply and demand mechanisms.
At the start of every epoch, a set amount of CBLP tokens are made claimable from the CBLP treasury. Individuals can deposit stablecoins to the CBLP auction portal during this time period to be eligible to claim a portion of those CBLP rewards. Those stablecoin deposits go directly to the protocol’s stablecoin treasury and are immediately lent out.
The wallet addresses of all stablecoin depositors are given the right to withdraw a certain percentage of CBLP from the total amount of CBLP tokens made claimable at the start of a new epoch. The amount claimable by a wallet address is directly tied to the total value of stablecoin deposits made by the wallet during an epoch, when compared to all other depositors. For example, if a wallet address was responsible for 1% of the total value of all deposited stablecoins sent through the auction portal within an epoch, vs all other wallet addresses, an equivalent 1% of the total amount of CBLP tokens set to be claimable for that epoch will be redeemable for that wallet address at the start of a new epoch.
The CBLP auction portal event is continuously occurring with rewards being calculated and claimable on a per epoch basis, until the CBLP treasury is depleted. This CBLP auction portal takes a fair supply and demand driven approach to token distribution, similar to that of the NFBO.
Yamfores' vesting schedule is simple and straightforward. The team's token allocation will be fully distributed over two token unlocks: the first on October 1, 2023, with 82.5 million $CBLP tokens unlocked, and the second on October 1, 2024, with the remaining 82.5 million $CBLP tokens unlocked.
This vesting schedule is visually illustrated below:
Last modified 2d ago