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$CBLP Tokenomics

The native governance and utility token underpinning the entire functionality of Yamfore, is the $CBLP token. The $CBLP token is required to utilise the services of the protocol as well as provide a decentralised and fairly distributed method of enabling governance amongst individuals with the most monetary stake in the Yamfore protocol. The main utilities of $CBLP are as follows: Utility, Appreciation, and Governance.

Utility

The $CBLP token is the key requirement in utilising the lending services of Yamfore. This requirement ensures that there will always be a core demand / utility to the $CBLP token. This is a necessity to ensure that Yamfore has an integral asset growing alongside itself, as the protocol captures more market-share, liquidity, and demand.

Governance

Similar to many other protocols, Yamfore utilizes a token weighted voting process. This fairly gives the individuals with the most monetary stake in the protocol a larger say in the development of the protocol. This also creates a necessary threshold for crucial proposed changes to the protocol, requiring the true consensus of a large enough percentage% of $CBLP token holders to initiate / approve these proposals.

Appreciation

The $CBLP token is primarily tied to the success and longevity of the Yamfore protocol itself. As the Yamfore protocol captures more market share, users, liquidity, price appreciation of $CBLP will follow accordingly. The Yamfore protocol has two revenue sources facilitating its continuous growth. These two sources are in the form of the Profit Cycle, and the Liquidity Treasury.
Profit Cycle The profit cycle is the revenue acquired from any successfully closed loan position, enabling the protocol to service more borrowers at a time, ultimately facilitating greater demand for the CBLP token. There will always exist a “base” ADA & CBLP lending ratio that the market will be willing to accept. When the ADA & CBLP lending ratio passes this point, no individual is willing to take on a loan position due to the unfavorable loan terms. When a borrower closes their loan position, and the principal & interest ( In the form of staking rewards ) is collected by the protocol. That ADA revenue is then exchanged via arbitration, and added back to the stablecoin treasury to facilitate further crypto-backed loans.
The collected principal & interest amount have now added more capital to the protocol, enabling more borrowers to be serviced. Specifically, the profits acquired from the interest repayments ( In the form of staking rewards ) are now facilitating extra purchasing of $CBLP tokens due to the influx of newly available capital to be borrowed from the protocol.
This “base” ADA & CBLP lending ratio will constantly be in flux, depending on general market sentiment, and a multitude of other economical factors. It is the responsibility of the CBLP token holders to ensure that this “base” lending ratio is always appropriately set for the current market conditions, via on-chain governance. An indicator of achieving this “base” ADA & CBLP lending ratio, is the stablecoin treasury of the protocol always remaining empty. This creates a sustainable profit cycle consisting of: Demand > Funding > Liquidity
Demand: As the protocol is utilised by users seeking crypto-backed loans, the $CBLP token required to utilise the protocol sustains demand due to its utility. Funding: The ADA collateral deposited by borrowers in the protocol ensures consistent staking rewards are being collected by the protocol. When the borrower closes their loan position, those staking rewards are then collected, and exchanged for stablecoins, which are then resupplied to the stablecoin treasury to lend out again.
Liquidity: The influx of newly added funds in the stablecoin treasury, specifically the profits acquired in the form of staking rewards are now facilitating extra purchasing of $CBLP tokens. This is due to the protocol having additional capital to lend out. This consistent inflow of capital ensures the protocol is able to continually grow, and facilitate more crypto-backed loans.
Liquidity Treasury The Yamfore liquidity treasury contains 50% (500 million) of the total fixed supply of the native governance and utility token of the protocol, $CBLP. The liquidity treasury enables individuals to provide liquidity to Yamfore via depositing their ADA into the protocols staking portal. This allows individuals to forfeit their usual ADA staking rewards, in return for an allocation of $CBLP tokens that are distributed, and redeemable, on a per epoch basis.
The liquidity treasury distributes a fixed amount of $CBLP tokens per epoch. These $CBLP tokens are shared amongst all delegators in the protocols staking portal, in proportionality to their delegation size. This means the payment amount a delegator receives is directly tied to the raw value size % of their delegation in the staking portal, when compared to all other delegators. For instance, if a delegator owns 1% of the total value of all delegated ADA residing in the staking pool, an equivalent 1% of the entire amount of $CBLP tokens set to be distributed for that epoch, will be fully rewarded to that delegator as payment. This system takes a very fair and balanced supply & demand driven approach in regards to token distribution, similar to the NFBO. Similar to ADA staking rewards, $CBLP rewards are distributed to delegators on a per epoch basis, and available to be withdrawn at any time. Any earned $CBLP tokens that haven’t been withdrawn yet, simply accumulate passively in value.
Any ADA sent to the protocols staking portal remains “liquid” / unlocked at all times, and is available to be immediately withdrawn by the delegator whenever they desire. There is a minimum wait time of 4x epochs, before a delegators initially deposited ADA begins earning any $CBLP rewards. This is also the case if a delegator withdraws and re-deposits their entire ADA position back into the staking portal. There is however only a x1 epoch wait time for any newly deposited ADA into a delegators pre-existing position. The delegator is of course able to claim their $CBLP rewards whenever they desire, without incurring any wait penalty.
A non-fungible token representing ownership of the delegators position in the staking portal will be minted, and sent to the delegators wallet on initiation of a stake position. This NFT will act as the delegators receipt, and is required to redeem any deposited ADA in the staking portal or claim any $CBLP rewards. The Yamfore protocol exchanges all accumulated staking rewards to stablecoins, and sends those assets to resupply the stablecoin treasury, immediately. This occurs on a per epoch basis, as soon as any ADA staking rewards are received by the protocol. All UTXOs containing the ADA revenue from the staking portal will be made available for arbitrageurs to form transactions that consume all ADA residing in those UTXOs. Arbitrageurs will be given a 10% ~ payment for any exchanges conducted, which is derived from the base amount they’ve exchanged. The liquidity treasury also utilizes the same list of accepted / whitelisted Stake Pools the Yamfore protocol already strictly delegates to.

$CBLP Token Allocation

There is a total fixed supply of 1 Billion $CBLP tokens. This ensures the native token governance and utility token underlying the protocol, remains deflationary in monetary nature. Yamfore is dedicated to a fair token distribution with a focus on community allocation. Therefore there will be no insider allocation given to venture capitalist, private investment firms or angel investors. The token distribution is community focused with 80%+ of the total circulating $CBLP tokens allocated for distribution amongst the community members. This ensures fair and transparent distribution of $CBLP tokens amongst individuals truly supportive of the protocols success, and not just heavily allocated to a select few individuals.
Protocol Treasury: 50% of $CBLP will be allocated for the liquidity treasury, which enables individuals to provide liquidity to Yamfore via depositing their ADA into the protocols staking portal in return for an allocation of $CBLP tokens that are distributed, and redeemable, on a per epoch basis.
Community: 25% of $CBLP will be allocated to the community, with all generated revenue going towards bootstrapping the stablecoin treasury. This distribution will take the form of the Fair Token Offering (FTO) The details of the FTO have yet to be released.
Development Team & Misc: 19% of $CBLP will be allocated for the core development team, future hires, partnerships etc.

$CBLP Vesting Schedule

Yamfore is dedicated to a fair vesting schedule that rewards early investors of the protocol with a simple & transparent vesting schedule. Yamfore aims to have 50% of the total fixed supply amount of $CBLP tokens released, and circulating in the market within 1 year (73 epochs). This will ensure the only source of token inflation will be minor and strictly from the community controlled vesting schedule of the liquidity treasury.