MPL

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Life is a set of probabilistic events adding up together.
Why don't we apply this concept to cryptocurrency as well?

Meet YMPL, a new kind of asset, a digital commodity that rebasing itself based on market demand and game of chances.

What is Ympl?

Y = M + P + L

M(onetary)

M from Monetary, represents a new form of money, an alternative store of value in the digital space that people can truly own.

YMPL initial price will be 0.0025 ETH ( ~1 USD today ) per 1 YMPL and it will increase or decrease the supply based on its price movement correlating to ETH, no dollar nonsense. The price discovery mechanism and the free market will determine the fair value of the token.

Note that the initial rate might be changed on launch date to be as close to 1 USD

P(robability)

P from Probability, represents an adaptation of probablistic model that apply to the asset yield, to reflect the randomness of the world onto an asset, creating a uniqueness of this new digital commodity.

L(ife)

L from Life, represents the ever-changing value and supply in the asset, based on a series of random events, with no certainty, no final destination, an constantly evolving digital commodity similar to life itself.

How it works

YMPL is a probabilistic DeFi protocol that rebases the token supply in a set of intervals based on our probabilistic model; inspired by Ampleforth protocol we take its rebasing model further to create a new digital commodity with dynamic price discovery based on custom random algorithm based on Commitment scheme of future blockhash.

The YMPL protocol can be rebased every 4 hours by anyone, each rebase has a 25% chance to be rebased successfully.

The first rebase after listing is guarantee 100% to be rebased

The rebase lag multiplier is also random based on the total tokens of YMPL from the table

Total SupplyRebase lag factor
< 25,000,000 YMPL6 - 10
25,000,000 - 50,000,000 YMPL7 - 11
> 50,000,000 YMPL8 - 12

YMPL s not a stablecoin, no price target of $1. Its price discovery is purely based on the demands and supply of the market and chances. Simply put, the total supply of YMPL will be dynamically increased and decreased based on its ETH price ratio, rebasing chances, multiplier chances and market demand. YMPL is a truly unique commodity, an alternative store of value backed by probability where its price is discovered by the free and decentralized market.

Sample scenario

Scenario Result
YMPL/ETH > 0.0025 YMPL Supply Up
YMPL/ETH < 0.0025 YMPL Supply Down
YMPL/ETH = 0.0025 YMPL Supply No change

Metrics

Total supplyPercent alocationTokenPriceType
Team12%132,000-Locked
Community Incentive16%176,500-Locked
Ecosystem20%220,000-Locked
Private sale22%240,0000.00275 ETHUnlocked
Public sale13%144,5000.00250 ETHUnlocked
Uniswap liquidity17%187,000-Locked
Total100%1,100,000-

Team Locked 1month and then 24 months linear

Community Incentive 20% after listing and then 24 months linear

Ecosystem 20% after listing and then 5% every month

FAQ

Q1: Are the Uniswap liquidity’s tokens locked ?

Yes, they will be locked for 6 months using Unicrypt. proof will be provided

Q2: Are the team’s tokens locked ?

Yes, the team’s tokens will be locked for 1 month, then linearly released for 24 months. proof will be provided with vesting contract

Q3: Where can I see the technical details and smart contracts ?

Our whitepaper is currently under review, For developers, you can review the complete code on GitHub, we will be fully open source. Feel free to fork the project for the Defi ecosystem. The smart contract will be verified on etherscan for full transparency. The contract will be immutable with certain configurable params. The deployer will be burned once the project stablized

Oracle price will come from UNISWAP oracle contract, fully decentralized.

Q4: When will the tokens be distributed ?

YMPL token will be sent on the same day as Uniswap launch day, in order to prevent any trading prior to the launch date.

Q5: What’s the fundraising hardcap ?

Our hard cap is 1000 ETH - we only raise enough to jumpstart both the protocol and initial liquidity on Uniswap. This prevents bots from influencing the price at the beginning and helps us to achieve an efficient price discovery. *In case we do not reach the hard cap of 1000 ETH, the unsold tokens will be burn, resulting in much smaller supply

Q6: What’s the circulating supply ?

Circulating supply on day one will be 650,800 YMPL. The starting price on Uniswap will be 0.0025 ETH (~$1), resulting in an initial marketcap of $650,800.

Q7: Is this safe ?

Our team has been working with solidity since 2017, core developers of our project are also working for top tier global exchanges and is in the Ethereum ecosystem since forever. We tried our best to make the contract as safe as possible. Ampleforth contract has been audited by many audit firms in space. But please DYOR before investing in any project.

Q8: Onchain randomizing

We all know that randomizing onchain is complex, our method ensure that the miner need to take a lot of effort to try to beat the system. Our contract is written that we can upgrade the randomizer logic. We will be upgrading to use Chainlink VRF soon once it is live on mainnet.

We do not want to use oracle service like provable since we want to keep everything onchain. This is not a lottery, the security implication for miner to cheat the system and cause a global randomization is acceptable for initial phase.

Have any questions?

YMPL Official Channel : https://t.me/YMPLofficial

YMPL Announcement Channel : https://t.me/YMPLAnn

YMPL Twitter : https://twitter.com/ymplofficial

YMPL Discord : coming soon