YNG is the native token of the Young Platform ecosystem and is compatible with Ethereum.
A token is a type of cryptocurrency that is based on an external blockchain to the project that developed it. This means that Young Platform does not have its own blockchain but decided to build its YNG token on Ethereum, using its ERC-20 protocol. Ethereum is one of the longest-running and most famous blockchains in the crypto world and is used extensively for the creation of new tokens. The ERC-20 standard is, in fact, among the most secure and widely used, and is the protocol of choice for cryptocurrencies of all kinds.
You can get YNG tokens in two ways:
- You can earn YNG on Step, by completing the activities available
- You can buy YNG directly on Young Platform
Depending on the amount of YNG held on your Young Platform account, you can join our Clubs and get fee discounts on purchases and sales, and many other benefits.
After the listing, the price of the YNG token has started to vary according to supply and demand, as for any other cryptocurrency.
This means that the value of YNG is no longer fixed at EUR 0.24, but will vary according to market fluctuations.