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According to its creators, YMPL is a protocol for a new type of money. Technically, the project token is a stablecoin but its base price is not tied to the dollar. It is tied to Ethereum. The base price of the YMPL token is 0.0025 ETH.
The goal of the project
The project aims to create an asset that does not correlate with either the price of Bitcoin, the USD or the price of other assets. To simplify it considerably, it looks like a stablecoin that changes its emission, thereby keeping a stable price. The tootal supply is 1 million tokens. The circulating supply is 650,800 tokens.
YMPL’s major features and advantages
The main feature is that the protocol changes not only the current and future supply but also the balance of the holders.
The total supply and token balance on holders wallets can be changed every 4 hours, depending on the current demand/supply. The chance of a price change is 25% for each 4 hour round.
The rebalance chance increases each time a change is unsuccessful. Thus, the equilibrium price is achieved by changing the total supply of the asset.
You can also send your tokens to liquidity pools for earning a profit in YMPL tokens. There are two pools - one paired with ETH on Uniswap, the other with DAI on Balancer.
According to the developers, the main advantages of the project is its resistance to inflation and its isolation from other assets - so a kind of hedge.
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