Staked UTYPrice

(YUTY)

UTY is the core decentralized synthetic dollar (stablecoin) of the protocol, designed to be over-collateralized and pegged to a value of $1.00. In contrast, yUTY, or Staked UTY, is the yield-bearing version of the token. When you deposit UTY into the protocol’s Stability Pool or staking contracts, you receive yUTY. This token represents your proportional share of the pool and accumulates rewards or increases in value over time based on protocol activity.

The yUTY token is active on multiple blockchain networks, most notably Avalanche and TON. Users can manage their tokens using popular decentralized wallets compatible with these networks. To see yUTY balances in your wallet, you must manually import the specific contract address associated with the network you are using. For cross-chain activity, users typically utilize supported bridges to move assets between the Avalanche and TON ecosystems.

yUTY can be traded on LBank and various decentralized exchanges (DEXs) within the Avalanche and TON ecosystems. While it is not available on every centralized platform, LBank provides a streamlined environment for trading yUTY. Users should always verify they are interacting with the official contract address and have the correct network selected before performing any transactions or swaps.

The Stability Pool is a vital mechanism that ensures the XSY protocol remains solvent. Users deposit UTY into this pool to provide liquidity that is used to pay off debt from liquidated vaults. In return for this service, yUTY holders receive rewards, which often include a pro-rata share of the liquidated collateral at a discounted price. This system allows stakers to benefit from market liquidations while supporting the stability of the synthetic dollar peg.

veYUTY (vote-escrowed YUTY) is obtained by locking your yUTY for a specific timeframe, such as one month to one year. This version of the token is non-transferable and signifies a commitment to the protocol's long-term health. Holding veYUTY grants you voting power to influence governance decisions and the ability to boost your staking rewards. Generally, the longer the lockup period, the greater the voting weight and reward enhancements the holder receives.

Staking rewards for yUTY are derived from two sources: liquidation gains from under-collateralized positions and direct protocol emissions in the form of governance tokens. These rewards do not compound automatically. Users must manually claim their earned rewards from the protocol interface and redeposit them into the Stability Pool if they wish to increase their staked principal and achieve a compounding effect on their yields over time.