【What is YT really worth? The hidden wealth code of FIVA】 Recently, many people have asked me, what is the value of the note called YT in #FIVA? Why do some people specifically collect it? It seems so risky, is it worth buying? Today, let's talk about this issue. This is the second article in the FIVA series, and we will focus on one key point: how is YT priced? How can you play it to have a chance to make money? 1. What is YT? In a nutshell: YT (Yield Token) is a ticket that represents your "future potential earnings." However, the price of this ticket is fluctuating, and its face value will only be known in the future. In FIVA, users deposit yield assets such as tsTON, tgUSD, and EVAA USDT into the protocol, which will be packaged into SY (an internal operation of the system, hidden from the front end), and then split into two notes: (1) PT (Principal Token): represents only the principal, determining how much you can get back; (2) YT (Yield Token): represents all the earnings, where the real uncertainty lies. 2. How much is YT really worth? YT is the core trading asset in FIVA, and its value completely depends on "how much you think you will earn in the future." Let's take an example: suppose you stake to obtain 100 tsTON, with an expected annualized return of 10%, after one year it can become 115 $TON. You minted in FIVA: (1) PT-tsTON (fixed value: 100 $TON) (2) YT-tsTON (future value depends on actual earnings) At this point, if you want to sell YT to cash out early, the question arises: how much should YT be worth? The answer is: this is not determined by the protocol, but is derived from market dynamics. 3. The logic of YT's price fluctuations YT is like a "stock of earnings," and its price is influenced by many factors, such as: (1) Remaining time: the closer to expiration, the closer YT's price is to the final redeemable earnings; (2) Expected annualized return: the higher the yield of the underlying assets (like tsTON, tgUSD, EVAA USDT), the more valuable YT is expected to be; (3) Current market price vs actual discounted value: the difference in between is the arbitrage opportunity; (4) FIVA Points / protocol points: holding and trading certain assets' YT (like EVAA USDT) can earn FIVA points and EVAA XP, which may be used for airdrops or platform incentives in the future; (5) Whale behavior/herd effect: large purchases or sales can also affect price trends and market confidence. So you will see: (1) Some people buy YT at a low price, as long as the earnings at expiration exceed the cost, it’s a positive return; (2) Some sell YT to lock in the principal of PT and exit early; Others just want to climb the FIVA points leaderboard, participating in YT trading and doing LP. (3) Another important point: holding certain YTs may also qualify you for airdrops, which is part of YT's value composition. 4. How to play YT to have a chance to earn? YT is a typical "high-risk high-reward" asset, suitable for the following types of players: (1) Those who are optimistic about earnings prospects If you judge that a certain type of asset will have stable or rising earnings in the future, then buy YT to bet on increased earnings. (2) Those who like to gamble on odds YT prices can sometimes be very low, for example, if 1 TON earnings are only sold for 0.2 TON, betting right once can earn 4~5 times. (3) Those skilled at capturing market sentiment Seeing price fluctuations in the pool, quickly trading for arbitrage, earning a wave of liquidity opportunities and points. (4) Those who do mid-term "buy-sell spreads" Buy YT during expected rising periods, and sell to later buyers after sentiment heats up. 5. Summary: Is YT an opportunity or a trap? YT is not an "airdrop ticket"; it is a tokenized expression of real earnings rights. Because it does not guarantee earnings, has high volatility, and is low-priced, it presents a natural trading, speculation, and arbitrage space for experts. The innovation of #FIVA lies in turning "earnings attribution" into a tradable asset. You no longer need to stake assets to wait for earnings; instead, you can directly trade "future earnings rights." For those willing to take risks and understand the logic, YT itself is one of the most interesting and direct Alpha channels in the crypto world. @FivaProtocol, #FivaProtocol ~~~🔸Previous Review🔸~~~ ~ The most noteworthy DeFi protocol in the Ton ecosystem, how to play FIVA? ~ ~~~🔸Next Preview🔸~~~ We will focus on the gameplay of PT: "Tips for Coin Hoarders: How to Cash Out Future Earnings Early with FIVA?" ~~~🔸Experience Now🔸~~~ If you can't wait to experience #Fiva, you can: (1) TG version: (2) Web version: