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YOLO (yield earning OLO) is the staked version of OLO. You can stake your OLO to get YOLO and maximize your yield.
YOLO will also be the governance token of OolongSwap, YOLO holders will have the right to vote on and decide the future of OolongSwap and of course, how to allocate funds in the fast-growing Oolong PCV💰
YOLO will just be like any ERC-20 token: tradeable, usable, and maybe in the future even lendable and borrowable like xSUSHI!
- No Impermanent Loss
- Maximize your profits when OLO tokens go up
- Governance right
YOLO is the main staking mechanism in the OolongSwap ecosystem. When you stake your OLO, you effectively exchange your OLO for YOLO. YOLO staking auto compound in nature, so just stake and forget about it, and over time, you’ll always earn more OLO by holding YOLO tokens. When users want to unstake, they can burn their YOLO and receive the original deposited OLO tokens and all the OLO tokens rewards that have accumulated over time!
We have also introduced a cool-down period to YOLO staking — users have to activate a 5 day cool-down period, during this period, YOLO is still accumulating rewards. After 5 day cool-down period, there’s a 2-day unstake window, users can unstake their YOLO token during this 2-day window. If missed, users will have to reactivate the 5 day cool-down period❄️❄️❄️.