youves is a tool that allows you to leverage your crypto exposure (learn more about minting new synthetic assets here), diversify your crypto portfolio on-chain with new revenue generating assets (learn more about saving with synthetic assets here here) and finally, you can participate in the platform via its governance token YOU (learn more about YOU here here). youves is decentralised and non-custodial. Only you and the rules defined in youves’ smart contracts control your funds.
youves is a professionally built, secure and audited platform. It is a tool for its users, it is open source and works without middlemen. As a consequence, you can manage your cryptos in an efficient and instantaneous manner.
The platform and its documentation provide you with easy guidance for each step. Connect your wallet and choose your activity as either a minter, saver or owner. You will find a “get started” document here.
youves currently offers a template to mint uUSD, an algorithmic stablecoin with a soft-peg to the fiat USD. The platform is built in a way that enables multiple templates for synthetic assets, reference values, and collateral. It is planned to come up with additional templates, reference values and eligible collateral soon.
youves uses the oracle service from ubinetic but is designed to be open for multiple price feeds. For fungible assets such as the uUSD, standardised oracles are required. ubinetics oracle is set up with independent third parties as data transmitters, uses public data from large crypto exchanges and ensures technically that the data is not modified from the exchanges’ API to the smart contract that normalizes the data. For more documentation about ubinetics oracle, visit our documentation.
Smart contract risks or IT code bugs as well as the risk that collateral is not sufficiently covering the created synthetic assets are the main platform risks. All smart contracts used by youves were audited and good care was used when designing, coding and testing them. In addition, the processes and controls to ensure adequate collateralisation were designed carefully and always with the security of the platform users in mind. For more documentation about risks on youves, visit our documentation.
ubinetic AG, domiciled in Zug, Switzerland, is the legal entity that designed and kick-started youves. For its efforts, it receives 12.50% of all issued YOU tokens. ubinetic only receives the YOU tokens in parallel with the minters on youves. We believe this is fair and balanced. The team is committed to build an open-source ecosystem. At no time does ubinetic have access to funds on youves. Find more information about ubinetic at www.ubinetic.com.
The minting fee is 1.5625%, and it is deducted from the minted uUSD tokens.
The required tez collateral is reflecting the number of tez needed to stay at the target collateral level.
There is an interest rate for savers and a higher interest rate on the lending side (the minted tokens). Over time this will lead to a higher number in the required tez collateral. Applied Interest Rates | youves documentation
However, the change in required collateral is likely due to a change in the value of tez in USD. Collateral Management Details | youves documentation
For this calculation, the platform always assumes the value of 1 uUSD token is 1 USD. To reach the target collateral level, the value of the tez collateral in USD must be three times higher than the minted uUSD at the current time writing.
The incentive features of the platform can cause changes in the vault balances and the savings pool balance. More information can be found here: https://docs.youves.com/platformOverview/PlatformOverview-Automated
The difference is the minting fee.
The “NO WALLET FOUND” usually indicates a problem in Spire where a user might have switched the mnemonic and his “old” address, the one that’s paired with the dApp, is no longer available.
The total number of YOU governance tokens in existence is finite and will asymptotically approach 4,680,000. Governance Tokens | youves documentation
You can view the circulating supply of YOU governance token here (scroll down): youves as it varies every week until it approaches 4,680,000. A table with the planned supply can be found here: https://docs.youves.com/governance/Governance-Token#availability-schedule
Here is full documentation explaining interest in uUSD
You can buy it on quipuswap.com
uUSD Contract: KT1XRPEPXbZK25r3Htzp2o1x7xdMMmfocKNW
Token ID: 0
YOU Contract: KT1Xobej4mc6XgEjDoJoHtTKgbD1ELMvcQuL
Token ID: 0
We do not have any plan to do Airdrop now or soon.
US persons shall not use youves.
No, there is only a fee applied when minting. There is no fee for burning.
We are currently talking with partners in the ecosystem on how to create an incentive to provide liquidity, but we have no concrete plans yet.
No, it does not. It is a predefined amount. More info here: Governance Tokens | youves documentation
You can learn about the conversion offer here: Holder Conversion Right | youves documentation
The interest rate updates weekly. It would trigger a response based on the percentage difference away from the peg. https://docs.youves.com/syntheticAssets/stableTokens/incentiveFeatures/interestRates/Interest-Rate-Response
Info about this can be found here Collateral Management Explanations | youves documentation. Also have a look at https://docs.youves.com/platformOverview/PlatformOverview-Automated
Info about this can be found here Platform Revenues, Expenses and Profits | youves documentation and here Applied Interest Rates | youves documentation
No locking period at the moment. This may change in the future.
Fixed minting fee and the liability interest rate are the only existing fees for the minter.
Occasionally we open up our championship program Champion Program – youves. The champions can earn YOU tokens for their services.
You want to diversify your assets on Tezos with a stable token that is pegged to the USD. You like uUSD because, compared to other programmatic stable tokens it protects you against a price deterioration of the uUSD against the USD with the right to convert the token against tez for a set price.
The tez are always valued at the rate taken from the oracle. The redemption depends on the circumstances. If minters burn their outstanding stable tokens, they get back the tez from the vault https://docs.youves.com/syntheticAssets/lifecycle/Minting-and-Burning.
If there is an outside triggered interaction with the vault, the redemption levels are explained here:
https://docs.youves.com/platformOverview/PlatformOverview-Automated
A synthetic asset is a representation of one or a multitude of other assets e.g currencies, commodities, precious metals, stocks, etc. but without having to hold the actual asset itself.