Youthia™, a blockchain-powered protocol network for youth commerce, has today announced its integration of the Bancor Protocol to provide secure and continuous liquidity for the Youthia network. Currently, Youthia is in Private Presale in preparation for its worldwide Public Main Sale that aims to attract thousands of potential Youthians and crypto investors.
By integrating the Bancor Protocol, holders of Youthia’s native protocol token, the Afro (AFR), will gain immediate access to continuous liquidity regardless of trade volume or exchange listings, through the Bancor Network, where any integrated token can be automatically converted to any other directly from the Bancor Wallet or any Web3 wallet, such as MetaMask. At present, integrated tokens include ETH, BNT (the Bancor Network Token), GNO (Gnosis), BNB (Binance) and a long list of announced projects soon to be activated.
“With a fast-growing user base of over 2156 Youthians, growing on average by 5% each week, we anticipate our community to grow exponentially with subsequent astronomical demand for the AFR token. So, it was without question to prioritize our token holders and to provide our current and prospective users with an easy and fast way to convert tokens,” said Mandy Shemuvalula, Founder and CEO of Youthia Inc. “Integrating with Bancor will provide liquidity to all four categories of our token holders – namely Youthians, Customers, Traders and Blockchain Geeks – who want to participate in Youthia as we build a mathematical framework, that has little room for human error, to build the most important and profitable economy of the future – the youth,” Shemuvalula added.
Youthia’s AFR will activate a Relay Token with 7% of its circulating token supply within two weeks following the successful completion of the Main Sale round of its Token Sale. The AFR Token Relay can best be explained as a vending machine for two token types. The Afro “vending machine” will hold both AFR and BNT tokens. The Token Relay with allow other conversions such as ETH/AFR but for simplicity sake, let us give the example of the conversion between BNT and AFR. Perhaps a Youthia user wants to purchase a few AFR tokens. He sends BNT to the Token Relay, which would buy intermediate token called AFRBNT. This AFRBNT token would then be exchanged again for AFR. The conversion fee for each of these conversions would be 0.1% and since two transactions took place, the total fee would be 0.2%. The Token Relay has a stock of each of the tokens, AFR and BNT, and they are priced based on the quantity of each token in the contract. If Youthia users see AFR priced slightly cheaper than market value, they will have an incentive to purchase it, shifting the pricing back up to normal. If BNT is cheaper in comparison, then users may sell their AFR at a premium.
The supply will come from AFR or BNT token holders who can transfer them into the Token Relay, and receive an “IOU” token called AFRBNT. The AFRBNT smart tokens have a special property: over time, they collect a portion of those 0.2% conversion fees from any trades in the Token Relay. Any token holder can place some of their long-term holdings of AFR or BNT into the Token Relay and provide liquidity while watching their holdings grow. Users will be able to purchase and sell AFR tokens directly from the Bancor Wallet or any Web3 wallet at a formulaically calculated price.
About Youthia:
Youthia is a decentralized protocol network capturing, aggregating, organizing and then directing youth commerce generated by youth hubs into verifiable markets. These youth hubs are run by Youthians, youth entrepreneurs on the network, that connect the production, demand and offer of products and services in a decentralized and verifiable way. With the core objective to spur significant economic growth and drive industrialization, Youthia provides a blockchain-powered platform for Youthians to produce products and services through a secure network of youth hubs building cross-border supply chains at different levels of the value process, with no intermediaries and at miniscule cost. In addition, Youthia improves consumption layers on the network and subsequently, combining production and consumption all in one place. Youthia is an urgent response to create a distributed and localized system that will serve as an innovative buffer from the current challenges hampering the progress of millions of youth in business. As the token-fuel, the AFR has maximized utility scenarios and a clear token-market fit. The Youthia Protocol implements the Youthia dApp that outlines algorithmic processes that help organize youth economic activity into a self-sustaining, self-healing and self-thriving system that anybody can rely on. With a continental presence, global partners and an increasingly popular aspirational youth brand, Youthia seeks to be the backbone of youth commerce taking on a $500 behemoth market. For more information, please visit: https://www.youthia.co/.
About Bancor:
Bancor Protocol is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the Bancor Web App or join the Bancor Telegram group for more information.