Young Platform
Update on Club Platinum discounts for new members, effective 4 February
Filippo Iachello
3 min
Discount on Club Platinum fees: what’s changing from 4 February
Young Platform is working to lay the foundations for what will become the most significant transformation our community has ever experienced. This evolution necessitates adjustments to some of the rules and parameters governing the loyalty programmes of our exchange. One of the key updates involves the Club Platinum membership.
New terms for Club Platinum
Starting 4 February, Club Platinum will no longer offer a 100% discount on buy-and-sell fees but a generous 90% discount. This is a small change, but it offers numerous unique opportunities for both current members and those looking to join the Club!
For existing Club Platinum members
Are you already part of Club Platinum? Fantastic! For you, the 100% discount on fees will remain unchanged. Your account will not be affected. However, take note: if you choose to leave the Club and later rejoin, you will lose your exclusive right to the 100% discount, and the new terms will apply.
For those joining before 3 February
This is your golden opportunity! If you join Club Platinum (or upgrade from Club Bronze, Silver, or Gold) by 3 February, you can secure the 100% fee discount just like current members. Lock in your access to the Club before any increases and enjoy one of Young Platform’s most exclusive plans.
The new rebalancing mechanism for Young Platform clubs
And there’s more! From 4 February 2025, Young Platform will introduce a new system to determine the number of Young (YNG) tokens required to access the Clubs. This dynamic mechanism will adjust the requirement based on the market price of YNG, ensuring greater flexibility and optimal balance between supply and demand.
How the rebalancing works
- Price increase: If the price of YNG rises, the number of tokens required to access the Clubs will decrease. An adjustment factor will ensure the reduction is balanced.
- Price decrease: If the price of YNG falls, the number of tokens required will increase proportionally.
This model is based on YNG’s launch price (€0.24) and will not affect the requirements for those already enrolled in a Club.
Why it’s worth joining Club Platinum now
Let’s look at an example.
Today, the price of the YNG token is €0.15. With a budget of €3,750, you can purchase approximately 25,000 YNG—enough to join Club Platinum. After introducing the new economic model, if the price of Young (YNG) remains unchanged, the required number of tokens will increase to 40,000. This ensures that the euro value of Club memberships remains aligned with the original pricing.
- Club Platinum price at the launch price of €0.24: 25,000 YNG x €0.24 = €6,000
- Club Platinum price at the current price (€0.15): 40,000 YNG x €0.15 = €6,000
But there’s more! Starting in February 2025, Club members will benefit from competitive advantages in upcoming prize contests. Additionally, with the arrival of the Young Platform card and account, Club members will gain access to exclusive benefits, making their experience even more rewarding.
This is your final opportunity to secure one of Young Platform’s most affordable and exclusive plans. Don’t miss it!