.png%3Falt%3Dmedia%26token%3D5f7635ba-c805-47be-bb63-afcb2d89291c){kind=logo}
.png%3Falt%3Dmedia%26token%3D5f7635ba-c805-47be-bb63-afcb2d89291c){kind=logo}
⚙
Using Y2K
Earthquake is now like on our Dapp. Let's go over in some detail on how to use it. To find out more information on what Earthquake is head to the link here.
Here’s a rundown of available features:
- This feature allows users to mint Y2K tokens by depositing ETH into the Premium and Collateral vaults.
- The Premium Vault is for premium depositors looking to take a hedge against a depegging event. When depositing ETH into Premium vaults users will mint Y2K Premium tokens.
- The Collateral vault is for collateral depositors looking to underwrite that risk. When depositing ETH into Collateral vaults users will mint Y2K Collateral tokens.
- Users will be able to mint USDC, USDT, and MIM Y2K tokens with the listed strike prices. Each strike price will have a unique Y2K token associated with it based on the severity of the potential depegging event.
- During the IFO: users will be allowed to Mint Y2K tokens from 12:00 pm EST 10/31/2022 untill 12:00 pm EST 11/07/2022 when the Epoch starts. Only the first Weekly epoch will have a 7-day deposit period, all epochs thereafter will follow a standart deposit period of 2 days and 7 days for Weeklies and Monthlies respectively.
- Once users mint Y2K vault tokens their tokens will be visible in the claim tab. During the epoch the status under the token will denote “ongoing”. Users will be able to claim their Y2K token rewards at the end of the epoch.
- Depositors in the Premium vaults will be able to claim rewards if a depeging event happens. In this case the status of the token will denote “win” and users will have the option to “claim”.
- Depositors in the Collateral vaults will see “collateral liquidated” under their Y2K tokens but will still have the option to “claim premium”.
- If the epoch ends without a depeg the Premium token status will denote “liquidated” and users will have the option to “burn” their tokens. The Collateral token status will denote “win” and they’ll have the option to “claim”.
- Note that the first Epoch will end at noon EST on the Epoch end date.
Visit our page: Y2K Finance
1. Go on the Mint tab
2. Select your position “Collateral” or “Premium”
3. Select your asset
4. Select your strike price
5. Select Epoch
6. Choose your deposit Token (ETH or WETH) and Deposit your amount
7. Approve Wrapped Ethereum
8. Click “Mint Check your Tokens on “Claim”
9. When the Epoch is over or a Depeg event is triggered you will be able to Claim your Rewards
Last modified 1mo ago