The YNG cryptocurrency is a utility token, it has, therefore, a number of functions within the Young ecosystem and its products. You can use it to:
- Get discounts on the fees to buy and sell on the Young Platform exchange.
- Buy products and coupons on the Stepdrop Marketplace.
Getting discounts on fees
The exchange Youngplatform.com applies a commission (fee) on every purchase, sale or withdrawal order you intend to request.
The commissions applied vary according to the currencies involved and to the type of operation. They are displayed in the summary before confirming the transaction.
The YNG token allows you to get discounts on purchase and sale commissions. The discount percentage varies according to the amount of YNG you hold in your Young Platform Wallet, as indicated in the table below.
**The holding values for the YNG token could vary in time.
These discounts are applied to any kind of transaction (purchase and sale) both between cryptos (ex. if you buy Ripple with Bitcoin) and between fiat and crypto (ex. if you buy Bitcoin with Euros or sell Bitcoin for Euros).
These discounts on fees, however, are not applied on withdrawal operations.
In case you were entitled to more than one discount, the higher discount will be applied to your account.
Buying products and coupons
Stepdrop is the app that allows you to earn YNG for every step of your day.
Claim your steps as you go about your day and complete the Quests to climb the Rankings.
You can use the YNG earned to buy products, coupons and gift cards on the Stepdrop Marketplace.
How can I get YNG?
The YNG token can be purchased on the Young Platform exchange every last week of the month at €0.24.
(Purchase windows may end before the end of the week. The amount of YNG available for purchase is determined by an algorithm so that the price remains stable at 0.24)
Otherwise, you can collect the YNG token for free with our app, Stepdrop.
Get in the game to win YNG simply by walking, completing Quests or taking part in the weekly Rankings.
Connect your Stepdrop account with the Young Platform exchange account to transfer your YNG from the app to the platform. This will allow you to use the YNG tokens you have earned to get discounts on buying and selling fees.
How can I sell YNG?
You can sell your YNG on the Young Platform exchange every first week of the month at €0.24.
(Purchase windows may end before the end of the week. The amount of YNG available for sale is determined by an algorithm so that the price remains stable at 0.24)
To recap:
- You buy YNG every last week of the month
- You sell YNG every first week of the month
Are there lock-up periods?
A token lock-up period indicates the period of time during which that currency cannot be used. The lock-up period is only applied to the YNG tokens obtained through investment during the equity crowdfunding campaign on the Seedrs platform, as specified in the table below:
Since these YNG tokens are subject to the lock-up period, they do not allow to get discounts on buying and selling fees. All YNG tokens purchased directly on the Young Platform exchange or earned with Stepdrop, however, do give access to the discounts mentioned above.
