Ymen.Finance price

YMEN

Y-men is described to be a deflationary currency. It is claimed that each transaction burns 2% of tokens and this incentivizes holding of YMEN. Y-Men has also launched its Yield Farming platform.

Y-Men will offer a two-token system for Yield Farming. The yield token will be called MUTANT. Initial participants will be able to deposit a variety of LP tokens just like Yield farming 1.0. The YMEN/ETH LP will offer a 10x multiplier for a short time. The difference here is that yield rewards are paid out in MUTANT, so YMEN holders are NEVER diluted. MUTANT will ONLY trade against YMEN. Due to the built in burn mechanism in YMEN, farmers who are just in it for the quick yield will have to trade MUTANT into YMEN then YMEN into Ether. This will result in a constant reduction in supply, while demand remains high. The greatest theoretical returns come from staking YMEN/ETH initially, however once TVL exceeds a certain point, yield farmers will then be incentivized to stake in the YMEN/MUTANT pool as APY slowly decreases on the YMEN/ETH pool. Another benefit of YMEN, and its deflationary nature, is that individuals who wish to speculate on the tokens value appreciation don’t need to stake in order to participate. Yield farming can be complicated, and many could-be investors are pushed out of the entire DeFi sector as they just don’t understand the mechanics behind it. Yield Farming 1.0 projects tend to be poor stand alone investments without staking. This is because the never ending inflation that occurs, as new coins are minted, dilutes token value very quickly.