As we continue to iterate on the future of decentralised finance (DeFi), our latest innovation focuses on providing our community with more tokens, boosts, and ways to earn yield. Introducing our revamped Staking Hub, which now inlcudes the brand new Yelay Rewards Portal, alongside our exciting new Membership Reward Cards!
Rewards? Tell Me More
Our Staking Hub is getting a new addition with the Yelay Rewards Portal — a technological advancement that will allow users to earn yield in a more efficient way, gain access to a new swath of tokens, and earn higher levels of boosted rewards on their staked yield. It’s all part of our next generation of DeFi staking and rewards, which will provide Yelay community members with a one-stop-shop portal for earning more while doing less.
One of the most impressive features of the new Rewards Portal is the enhanced ability to stake $YLAY tokens and earn new partner tokens and emissions. The new portal has redesigned the staking experience to be more seamless and now provides access to partner tokens like Morpho Labs, Gearbox, and Perq for easier access.
- Morpho Labs is the next-generation lending efficiency layer that allows anyone to earn yield and borrow assets while optimising rates of return.
- Gearbox is a protocol that amplifies users’ yield earning potential through leverage.
- Perq is a multichain yield powerhouse that — by leveraging Yelay’s infrastructure — provides access to pre-TGE token opportunities and helps users secure allocations in some of the most promising up-and-coming token launches.
Below are the reward amounts that will be allocated in the first batch, along with their durations:
In addition to accessing our partner tokens, the new Rewards Portal will also allow for boosted rewards for holders of our soon-to-be-released Membership Cards.
How the Yelay Rewards Portal Works
To get started, Yelay community members must first stake $YLAY tokens within the Yelay Rewards Portal. By doing so, users can earn rewards from both our emissions as well as those from our partner protocols. When $YLAY is staked, it is converted to sYLAY (staked $YLAY) and begins earning infrastructure credits (ICs), which can be used personally or sold secondhand to businesses that need access to Yelay’s infrastructure.
However, if users decide to also acquire a Yelay Membership Card, they have the opportunity to boost their earned rewards by up to 150 percent! Membership Cards provide a tiered boost depending upon how much $YLAY users stake. The more $YLAY you stake, the higher your boost earning potential.
Rewards are then re-calculated daily based on a user’s Membership Card tier and their sYLAY amount held, and can be claimed on a weekly basis on Mondays at 10AM UTC.
Yelay Membership Cards will also provide holders access to a growing ecosystem of yield-generating products, which will be continuously rolled out over the months and years to come.
What are Yelay Membership Cards?
Yelay Membership Cards are part of our new membership programme, featuring the Yield Yeti nonfungible token (NFT), which will offer additional rewards to holders. Current $YLAY token holders will receive their Membership Card NFT through an upcoming airdrop.
As previously mentioned, the launch of our brand new Yelay Rewards Portal will coincide with our first Membership Card airdrop, offering Yelay community members even more opportunities to earn rewards.
When you stake $YLAY tokens in our ecosystem, you earn a base rate of rewards. Holding a Yelay Membership Card allows you to boost those rewards by up to 150%, significantly increasing your earning potential. Think of your Membership Card as a multiplier for your earnings — the higher your card tier, the greater your reward boost.
Understanding the Membership Tiers
As more users join the Yelay community and purchase Membership Cards, card prices will appreciate, meaning early adopters are rewarded by ‘paying less’ to secure their Membership Card tier.
Here’s a breakdown of the Yelay Membership Card tiers options:
Boost: This is the percentage increase to your base rewards, which is distributed pro rata from the global pool accessible to all sYLAY holders. There is no direct correlation to the rewards amount distributed, since that depends on how many other users have also purchased a Membership Card and have staked $YLAY.
Max Supply: The total number of cards available for each tier. While Tier 1 has an unlimited supply to ensure maximum accessibility, higher tiers become increasingly scarce, with only 50 Tier 5 cards in existence.
Base Price: The starting price for each tier’s Membership Card, paid in $YLAY tokens. This is the minimum amount someone can pay for a card in each tier and the starting price for each tier.
Max Price: A card’s highest possible price in each tier. This creates a predictable price ceiling while allowing early adopters to accrue the same benefits at lower prices for getting involved in Membership Cards early.
Increment: The amount the card price increases after each purchase. For example, in Tier 2, each purchase increases the next card’s price by 10 YLAY. This means the first card costs 5,000 YLAY, the second 5,010 YLAY, and so on until reaching the max price.
Securing your Membership Card Airdrop
For current $YLAY token holders, anyone holding YLAY (up to 150,000) at the time of the initial airdrop snapshot will receive a Tier 1 Membership Card NFT during the airdrop.
Anyone holding between 150,000 and 1,000,000 YLAY at the time of the initial airdrop snapshot will receive a Tier 2 Membership Card NFT during the airdrop.
Anyone holding over 1,000,000 YLAY at the time of the initial airdrop snapshot will receive a Tier 3 Membership Card NFT.
Dynamic Pricing: Rewarding Early Adopters
The innovative pricing mechanism for our Membership Cards ensures early supporters get the best prices while maintaining sustainable value appreciation.
Here’s how it works:
- Each tier starts at its base price.
- Every time a card is purchased, $YLAY is burned, creating a deflationary mechanism that will lead to token appreciation, and the price for the next card increases by the increment amount.
- Prices continue rising until reaching the tier’s maximum price.
- Earlier buyers secure better prices, while later purchases reflect increased demand.
For example, if you’re interested in a Tier 2 card:
- The first buyer pays 5,000 YLAY
- The second pays 5,010 YLAY
- This continues until reaching the maximum price of 105,000 YLAY.
This model ensures that anyone getting in early gets the same benefits as all cardholders in that tier but for a lower entry price. It’s good to be early.
Getting Started
Ready to boost your yield potential? Here’s how to get started:
- Visit the Yelay Rewards Portal.
- Connect Wallet.
- Click on ‘Rewards View’.
- Choose your preferred tier based on your desired boost.
- Purchase your card at the current tier price.
- Start earning enhanced rewards on your staked $YLAY and stake your $YLAY here.
Looking Ahead
The brand new Yelay Rewards Portal signals a shift in how we think about and interact with DeFi. Built as a one-stop-shop for users’ yield earning potentials, the Yelay Rewards Portal is your ticket to earning more bang for your buck through multiple rewards streams and an exclusive, continuous list of upcoming partner integrations.
As we continue to expand and introduce new features to the Yelay ecosystem, Membership Cardholders will be perfectly positioned to take advantage of future opportunities and enhanced reward structures.
Join us in shaping the future of yield optimisation. Visit the Yelay Rewards Portal today to secure your Membership Card and maximise your rewards.
