London, United Kingdom – July 21, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Y5 Crypto is unveiling its new Centralised Exchange. Conceptualised in early 2022, Y5 Crypto has evolved from its early offerings to centre around the Y5 Wealth Token, which lies at the heart of its growing, trader-focussed ecosystem.
The Y5 team underlines that, rather than basing its business model on fees and short-term profit goals, the Exchange will focus on giving back to traders through its various reward mechanisms. This will, in turn, help fuel the multiple projects traders try to get off the ground.
Each component that is added to the system generates revenue that is pushed back into the Wealth Token via strategic and continual buyback and burns, thus causing the value to increase as supply drops. When the Y5 team buys back a token, the holders of the Wealth Token benefit from each of these purchases by instigating further rewards being given to Wealth Token owners. Y5’s Wealth Token can be seen as a personal share in the ecosystem, with every owner of a Y5 Wealth Token being a shareholder who benefits from the long-term hold of these tokens.
Y5’s aim of making the crypto sphere as conducive to traders as possible will revolve around their soon-to-launch Centralised Exchange, which aims to provide all major coins and tokens to trade. The company plans to make its exchange utility a leader in the space, with its focus on improving upon the traditional model employed by other crypto-based projects. It is setting out to achieve this through its trader-first approach, where holders in the community and the success of their projects are prioritised over short-term profits that could be gained from high marketing and listing fees.
The company also plans to run the first Centralised Exchange that fully supports tokenomics, with the company ensuring that the tokens in its ecosystem have a real function and utility for its holders. Through this support from Y5, trader-initiated projects will be given the means to get themselves into centralised spaces, providing them with the opportunity to reach a new community of investors. Future updates to the Exchange will include NFT login capabilities through secure data storage and verification, as well as a robo advisor to aid trading decisions.
Alongside the Wealth Token, Y5 will have its own native token that is designed to be used and traded on all major exchanges and used for liquidity pools in projects to come. It will operate as the primary utility token within the Y5 ecosystem, and revenue from this will feed into the Y5 Wealth Token – just as every other component does. Other planned services include a mobile application called the Round-Up app, which streamlines the process of buying coins or tokens via Apple and Google Pay transactions; a debit card for rewards; wallet insurance against being hacked; and a Launchpad designed to promote new, credible projects which will again prioritise Y5 Wealth Token holders.
Senior officials at Y5 Crypto stress that the firm is driven to offer a long-term service, providing continual assistance to their users, nurturing projects, and investing back into our ecosystem. There is also a heavy emphasis on setting the standards for people to follow in the DeFi space, which will serve to draw a line in the sand between Y5 and others like it. Through such offerings, Y5 Crypto is embarking on its core mission of creating “an exchange that works for everyone.”
Brad Askew, the Founder of Y5 Crypto, commented on the launch by saying, “The Y5 Crypto Exchange aims to provide a modern, secure, and user-friendly platform to allow efficient trading of crypto assets, built upon high-quality, ethical standards. An array of tools are under development and will be implemented in the near future to allow users to optimise trading decisions. Furthermore, we will nurture listing projects throughout the entire lifespan of their collaboration with Y5 Crypto. The exchange will be tailored to delivering a superior service for users and project partners.”
Name: Brad Askew
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