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Doomsday IFO FAQ

What is the IFO?

The IFO initiates on October 31st and will be hosted on Arbitrum Network. To participate in the IFO, users need to navigate to y2k.finance and deposit $ETH into either the Hedge or Risk side of the given vaults.
Participants will have 7 days to deposit before the first epoch starts and the deposit window closes. All epochs thereafter will follow a standart deposit period of 2 days and 7 days for Weeklies and Monthlies respectively. Rewards for IFO participants will last for 1 month, coinciding with 3 weekly epochs.
Deposits will be locked up for the duration of the epoch chosen by the user. At launch Y2K will be offering 5 Weekly (7-day) Earthquake vaults: $USDC, $USDT, $DAI, $FRAX, and $MIM at launch. Hence there will be a total of 3 available Weekly vaults for each asset during the IFO period.

How are rewards distributed?

The reward distribution will depend on two factors: accumulated share of the vault, and time staked for. Available strike Prices? 5 Weekly vaults available with the following strike prices:
  • MIM $0.97
  • USDC $0.997
  • USDT $0.991
  • FRAX $0.99
  • DAI $0.999

Does $Y2K have a supply cap?

The charts below illustrate the supply curves. More details on the $Y2K token launch (Y2K and vlY2K) will be shared in the near future.

How often are $Y2K rewards paid out?

Rewards are paid out every block.
Note: the above emissions are subject to change based on vault activity and discretion.

What can I do with my $Y2K tokens?

Tokens are unlockable once $Y2K bonds and vlY2K (Vote locked Y2K) are live on mainnet, both of which are anticipated to happen within a month after launch.

How often can I claim my $Y2K rewards?

IFO rewards will be paid out in the form of locked Y2K tokens.
Hedge vault deposits will be paid out to the underwriters (Risk Vault) at each epochs end, generating a natural yield. Hence, token emissions will be prioritizing Hedge side vault depositors, which organically incentivizes underwriters (Risk Vault). Note: Risk vault depositors still receive emissions on top of their premiums.

Can $Y2K holders participate in governance?

More details on the $Y2K token launch (Y2K and vlY2K) will be shared in the near future.

Where does $Y2K get its revenue?

Shortly after launch, 50% of all platform revenue (denominated in ETH) will be directed to vlY2K lockers, while the rest will accrue to the treasury to cover costs and support long term growth.