Y2K
Crypto Overview
Overview
Y2K is a risk hedging protocol built on Ethereum that allows users to protect their assets against extreme market volatility. The protocol enables users to purchase protection against severe price movements in stablecoins and other crypto assets.
Purpose and Utility
The Y2K token serves as a governance token for the protocol, allowing holders to participate in decision-making regarding protocol parameters and treasury management. Token holders can also stake Y2K tokens to earn protocol fees.
Technical Implementation
The protocol operates through smart contracts that create 'epochs' - time-based insurance periods where users can deposit assets to either receive or provide protection against volatility events. When a triggering event occurs (such as a stablecoin depegging), the protected parties receive compensation from the coverage providers.
Current Usage and Adoption
The protocol has seen active usage for risk protection, particularly during periods of market uncertainty. The platform has processed multiple insurance claims and maintained consistent activity in terms of coverage provision and purchases.
Token Distribution and Governance
The Y2K token distribution includes allocations for the team, treasury, and public sale participants, with vesting schedules in place for team tokens. The protocol operations are gradually being decentralized through DAO governance.
Crypto Impact
To assign a comfort level investing in Y2K from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Y2K.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.