At Yield App, our overarching goal for the Haven1 economy is to implement an economic system that aligns incentives across all participating entities. So, naturally when our community voiced concerns over resources and company priorities, we listened to what you had to say. 

As we edge closer toward Haven1’s public launch, we’re delighted to announce some milestone refinements to both Yield App and Haven1. 

Key changes

• YLD will exist independently of H1, and will no longer be swapped to H1

• Haven1 will be built as an independent project with an independent team

• From January 1, 2024 YLD rewards will stop and staked YLD will accrue locked H1 token rewards

• The Haven1 foundation has granted Yield App 300 million H1 to be distributed over 5 years to YLD stakers and platform users for its incubation of Haven1

• A 30-day redemption period will apply if holders wish to unstake their YLD
  
  
  

Revised token dynamics: YLD will no longer be swapped to H1

YLD will exist independently of H1, and will no longer be swapped to H1. Ultimately, we decided to completely separate H1 and YLD tokens as Haven1 will be built as an independent project by an independent team.

YLD holders are part of what will make Haven1 a success, which is why we decided to adjust our plans so that our loyal community are rewarded. Now, they will continue to hold YLD tokens in coexistence with H1 - and earn locked H1 tokens as the ecosystem grows. 

Our objective has always been to provide a versatile, user-friendly, and secure platform for our customers. As the DeFi ecosystem matures, we've identified a need for specialized platforms that cater to different financial needs. Ensuring that Haven1 and Yield App - and their respective tokens - remain separate, will allow us to cater to these distinct requirements more effectively. 

YLD holders rewarded with exclusive 300 million allocation of H1 

The  Haven1 foundation has granted YLD stakers and Yield App users 300 million H1 to be distributed over a five-year period for its role in incubating Haven1 and being a bridge for the Haven1 network. These rewards will enable our customers to gain exposure to, and freely participate in the H1 ecosystem.

As part of building an independent project, the H1 supply will increase to 2 billion in order to provide enough flexibility to build a sustainable ecosystem with builders, incentivize users to bring in liquidity, fundraise, and provide versatility for future uses.

YLD staking earns locked H1

YLD will continue to serve as a membership token for Yield App. Its primary role will be to determine a member’s tier level, thereby providing access to the associated benefits. 

Staked YLD will now earn locked H1 token rewards on a daily basis, giving our holders a unique opportunity to gain early access to the Haven1 ecosystem. 

YLD rewards end in 2024

From 1 January 2024, there will be changes to locking and staking. There will no longer be a locked YLD function and all locked YLD will move to staking. YLD will need to be staked to be in a membership tier and also earn locked H1. With this switch to locked H1 rewards, the release of YLD tokens, known as emissions, will effectively come to an end.

Just like Earn+, unstaking YLD will move to a 30-day redemption period. During this period, holders will retain their membership tier status, but their YLD won’t yield locked H1 rewards.

Haven1 mainnet launch

When Haven1's mainnet launches, locked H1 stakers can earn additional rewards, partake in Haven1 governance decisions, participate in the network's revenue-sharing program and earn a portion of the protocol's revenue. The more H1 tokens staked and the longer they're locked, the greater the benefits. This mechanism aligns the interests of our valued community members with the longevity of Haven1.

New token dynamics

Upon launch, Haven1 will foster a secure on-chain finance ecosystem for developers and Web3 communities. Meanwhile, Yield App will continue to provide an intuitive, all-in-one digital wealth platform for our customers to buy, sell, trade, and earn the most competitive yields on crypto.

As it continues to bring increased exposure to its incubator, Yield App will grow hand-in-hand with the successes of Haven1. The modifications to YLD mechanics, the introduction of locked H1 token rewards, the launch of the Haven1 mainnet are significant milestones for both Yield App and Haven1. We're confident these revisions will boost our users' flexibility and earning potential, aligning their incentives with the long-term success of the Haven1 ecosystem.

To find out more about the latest developments, and meet our mystery guest, join our YouTube AMA on Thursday 24 August at 11AM UTC.