Young Platform

FAQ: YNG token community sale 

AP
Anna Perozzi

4 min

FAQ: How does the community sale of the YNG token work?

The YNG token Community Sale allows you to pre-purchase YNG while saving money and earning bonuses. Having doubts? Here’s the FAQ! 

Today, the 10th of May, the Community Sale of the YNG token has begun. The big news has been unveiled: YNG will be released into the marketplace at the end of the month. Young Platform has organised a pre-sale for all those who want to buy YNG before the market launch, and you are entitled to a number of benefits. Welcome to the Community Sale FAQ!

What is the Community Sale and how long does it last?

The Community Sale is a period of time during which our users are given the opportunity to purchase our proprietary YNG token at advantageous conditions (Cashback, 0% commission and fixed price): it will last from 10 to 24 May 2022.

How much does the YNG token cost?

During the community sale, one YNG is equivalent to 0.24€. 

Are there fees for buying YNG?

No. During the Community Sale, no fee is charged for the purchase of YNG.

Is the cashback an offer valid for all?

Yes, anyone can obtain the cashback reward, by buying at least 200€ worth of YNG. The offer is valid for new as well as old users.

What’s the minimum amount to obtain cashback for buying YNG? 

You need to make a purchase equivalent to at least 200€, or 834 YNG.

The general minimum purchase amount is only 10€ of YNG, however you will not receive cashback for a purchase worth under 200€

In what currency will I receive the cashback?

In YNG.

How long will the YNG I get from cashback be blocked?

90 days from the day you made the corresponding purchase. If you make more than one purchase, you will see the differentiated expiry date for each cashback received.

Is purchasing with Cashback also possible on Young Platform Pro?

No. You can only receive Cashback by purchasing on the web and mobile (app) version of Young Platform in its basic version.

What will happen after the Community Sale?

After the 24th of May, the buying and selling of the Young token (YNG) will be blocked – until the 30th of May*. After that YNG will be launched on the open market and potentially listed on other exchanges, then the price will start to change according to the law of supply and demand. At launch, the buying, selling and trading of the token will be simultaneously rehabilitated. 

What happens on the 31st of May*?

The Young token (YNG) will become like any other cryptocurrency on the market, i.e. volatile. Starting from the price of €0.24, depending on the supply and demand of users, i.e. how much is bought, purchased or held, the price could rise or fall.

When can I sell YNG?

From the 31st of May* onwards.

What are the technical characteristics of the YNG token?

Young (YNG) is a cryptocurrency, and more specifically an ERC-20 token, i.e. based on Ethereum’s standard protocol token. This means that it is compatible with Ethereum’s entire ecosystem of wallets, blockchains and Dapps.

The role of YNG within the Young Platform ecosystem is that of a utility token, i.e. a token that, in addition to having a price, only has added value within the product system for which it was created, offering a series of specific advantages and use cases. 

Is whitepaper for YNG available?

The whitepaper will be available the day of market launch, on the 31st of May*.

If I already have blocked tokens from the 2019 crowdfunding, how do I distinguish them from blocked tokens for the community Sale?

If you are a 2019 crowdfunding investor on Seedrs, within the “Locked YNGs” section you will see an amount labelled “Crowdfunding” and other amounts labelled “Community Sale” with different expiry dates.

Can I convert YNG to other cryptocurrencies?

No, it will only be possible after the market launch, if pair listings with other cryptocurrencies occur.

*Dates are subject to change because of delays caused by third parties involved in the process.

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