LONDON, UK – (Newsfile Corp. – July 21, 2022) – Y5 Crypto announces its new centralized exchange. Conceived in early 2022, Y5 Crypto has evolved from its early offerings into a hub around the Y5 Wealth Token, which is at the heart of its growing, trader-centric ecosystem.
The Y5 team emphasizes that the exchange will focus on giving back to traders through its various reward mechanisms, rather than basing its business model on fees and short-term profit targets. This, in turn, will help fuel the numerous projects traders are trying to get off the ground.
Each component added to the system generates revenue that is pushed back into the wealth token through strategic and continuous buybacks and burns, increasing value as supply decreases. When the Y5 team buys back a token, the Wealth Token holders benefit from each of those purchases by initiating further rewards given to the Wealth Token holders. Y5 Wealth Token can be viewed as a personal stake in the ecosystem, with each Y5 Wealth Token holder being a shareholder who benefits from long-term ownership of those tokens.
Y5’s goal of making the crypto sphere as conducive as possible for traders will revolve around the soon-to-be-launched Centralized Exchange, which aims to provide all major coins and tokens for trading. The company plans to make its exchange utility a leader in this space, with a focus on improving the traditional model used by other crypto-based projects. This is said to be achieved through its trader-first approach, which prioritizes community owners and the success of their projects over short-term gains that could be made from high marketing and listing fees.
The company also plans to operate the first centralized exchange that fully supports tokenomics, with the company ensuring that the tokens in its ecosystem have real function and utility for their holders. This support from Y5 gives trader-initiated projects the opportunity to move into centralized spaces and gives them the opportunity to reach a new investor community. Future updates to the exchange will include NFT login capabilities through secure data storage and verification, and a robo advisor to support trading decisions.
In addition to the wealth token, Y5 will have its own native token designed for use and trading on all major exchanges as well as for liquidity pools in future projects. It will act as the primary utility token within the Y5 ecosystem, and revenue from it will feed into the Y5 Wealth Token – just like any other component. Other planned services include a mobile application called Round-Up App, which will streamline the process of buying coins or tokens through Apple and Google Pay transactions; a debit card for rewards; wallet insurance against hacking; and a Launchpad to promote new, credible projects that will once again prioritize Y5 Wealth Token holders.
Senior Y5 Crypto officials emphasize that the company strives to provide long-term service, provide continuous support to its users, promote projects and reinvest in our ecosystem. There is also a strong emphasis on setting the standards that people in the DeFi space should follow, which will serve to draw a line between Y5 and similar ones. Through such offerings, Y5 Crypto begins its core mission of “creating an exchange that works for everyone.”
Commenting on the launch, Brad Askew, the founder of Y5 Crypto, said: “The Y5 Crypto Exchange aims to provide a modern, secure and user-friendly platform to enable efficient trading of crypto assets based on high-quality, ethical standards based . A number of tools are under development and will be implemented in the near future to allow users to optimize trading decisions. Additionally, we will encourage listing projects throughout the lifetime of their collaboration with Y5 Crypto. The exchange will be tailored to provide users and project partners with a first class service.”
Media contact:
Name: Brad Skew
E-mail: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131567
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