Token YNG

YNG is the Utility Token developed by the European exchange Young Platform. The token allows users to access premium services of its main products: the exchange, its Pro version, Step and Academy. YNG’s main goal is to make users an active part of the crypto community that plays, trades and learns through the Young Platform ecosystem. Through its functions, the token will allow anyone to participate in an ever-evolving technology space. 

How does the YNG token work? To engage the user, a membership system, called Clubs, has been implemented. These regulate the exclusive benefits and services that come with owning YNG in your crypto wallet. There are in fact 4 levels: Bronze, Silver, Gold and Platinum. Club membership is determined by the number of YNG you’re willing to commit and grants discounts on fees, benefits on Airdrops, access to special events and increased rewards on staking. 

Launched with an Airdrop in 2018, the YNG Token has a busy development roadmap with initiatives, ideas and features constantly evolving. There are currently 12 million YNGs in circulation, distributed among advisors, crowdfunding campaign investors and in the wallets of Step and Young Platform users. The total supply is 100 million YNG: the remainder will be allocated between the team, advisors, direct sales and platform functionalities.

Correlated words

Whitelist

A whitelist (or allowlist) in the blockchain sector is a list of addresses that have early access to an ICO or NFT collection.

Total Supply

Total supply is the quantity of tokens emitted by a crypto project.

Listing

The inclusion of a token or cryptocurrency within an exchange’s market.

Young Club

Young Platform’s clubs allow for access to benefits and discounts.

Utility Token

Utility tokens are cryptocurrencies that enable exchanges of services, benefits or functions within a crypto ecosystem.

Tokenomics

An economic model that regulates the distribution and use of a project's cryptocurrency.

Scarcity

How much an asset is available and consequently how much value it has.

P2P

Una rete peer-to-peer permette agli utenti di scambiare dati senza intermediari.

NFT

A Non-Fungible Token is a unique asset registered on the blockchain.

Liquidity

How easy it is to convert a cryptocurrency or financial instrument into fiat money or the base currency.

Inflation

The gradual increase in the prices of a market or currency.

IEO

An event hosted by an exchange where a newly created cryptocurrency is sold to distribute it on the market and promote it.

ICO

An event where a newly created cryptocurrency is sold to distribute it on the market and promote it.

Fungibility

It is the property of a means of payment to be divisible into equal parts to facilitate the exchange of goods.

DYOR

Do Your Own Research, don't just take any information from one source at face value.

Delisting

Removing a cryptocurrency from an exchange's offering.

Crowdfunding

Online fundraising open to anyone.

Coin Burning

A way to remove cryptocurrency units from the circulating supply.

Audit

A verification process that ensures the correct functioning of software.

Black Swan Event

An unexpected event that has a significant effect.

Airdrop

A way of distributing a new cryptocurrency on the market

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