TORTUGA

The Yuser Network enables trustless monetization between communities and developers. Augmented by AI and graph technologies, the Yuser Network is a unique NFT Blockchain that serves as the new social contract for both communities and developers – one built on their shared well being and financial growth.

The Network achieves this by solving four key issues: monetization, privacy, adoption and interoperability – all at scale. The Yuser team is building tools that strengthen the collaboration between communities and developers. The resulting synergy will spawn experiential and monetization opportunities the likes we have never witnessed. By making trustless (trust-based) monetization tools accessible, and removing obstacles to user adoption, Yuser Network is accelerating a novel synergy.

Gem Diamonds are the utility and governance token for the Yuser Network and App. The Gem Diamond will be the primary governance and utility token on the Yuser Network and Yuser App. On the token release date users will be able to use Gem Diamonds on the various different platforms that are deployed on the Yuser Network. For example the Gem Diamond will be used in the Yuser marketplace to buy and sell NFTs! The Gem Diamond can be exchanged or acquired in various ways including purchasing Gem Diamonds with other tokens, buying them from liquidity pools, or earning them on the Yuser app with the stone staking feature. Other Network dapps will be encouraged to develop their own unique rewards systems to encourage Network adoption, as well as interaction and transaction growth. This will help increase the liquidity of the Yuser Diamond, which will allow for more stability.

The Yuser Network’s native token, the Gem Diamond, will have an capped supply. The finite supply of the Gem Diamond is 100,000,000 tokens. A portion of the initial supply of Gem Diamonds will be sold to interested parties beforehand in token sale rounds. Vesting schedules of 0 and 24 months will be offered with a capped amount of Gem Diamonds available for each vesting schedule offered. Each dapp on the Yuser Network will receive a supply of Gem Diamonds to reward members and handle transaction fees based on how it contributes to the member, engagement and transaction growth of the Network.

The Yuser App is the first dApp to run on the Yuser Network. The Yuser App reward system (Gems) encourages growth across the App. Through the Yuser App members can:

-Earn Gems Rocks for using the app regularly and performing challenges

-They can give (gift) Gem Rocks to other members’ posts

-When a member receives Gem Rocks on a post they become Gem Stones

-Gem Stones can be used to boost posts, staked (invested) in NFT posts to earn Diamonds, or exchanged for Gem Diamonds

-Gem Diamonds can, and must, be used to purchase NFTs or other tokens on the App Within the Yuser App reward system there are two types of Gems – Gem Rocks and Gem Stones.

When signing up to Yuser, you start with a 50,000 Gem Rock supply. These Gem Rocks can be gifted to posts and comments made on posts within the Yuser app. The primary purpose of the Gem Rocks is to be gifted to other users on the Yuser Network to show appreciation for their content. This gifting system acts similar to other social media platforms and this is used as the ‘like’ function. A maximum quantity of Gem Rocks that one user can hold at one time is 50,000. Gem Rocks are generated and added to a user's wallet based on activity throughout the Yuser Network. The more active a user is, the more rocks that will be replenished daily into their wallet. Members can gift up to 2,000 Gem Rocks to a single post with a daily cap set at 1,000 Gem Rocks gifted to a post in a single day. For example for a user to gift the maximum amount of Gem Rocks to another users post, they can gift 1000 right away, and then 24 hours later they can gift that post another 1000, but since the max amount of Gem Rocks that can be gifted per post is 2000, that user will not be able to gift that post any more Gem Rocks.

When a user gifts Gem Rocks to a particular post or comment, the receiver of the Gem Rocks receives that quantity of Gems, but not in Rocks, they receive Stones. In simpler terms, Gem Rocks get converted to Gem Stones once the Gem Rocks are gifted. These Gem Stones can be used to purchase specific NFT’s that are posted on the apps that allow Gem Stones as a method of payment, purchase exclusive merchandise and digital content posted by Yuser, and convert to the main Yuser token called the Gem Diamond.

BarnBridge is a risk tokenization protocol. It allows users to enter other supported DeFi applications with varying degrees of risk exposure. Its first application, SMART Yield, allows for users to mitigate interest rate volatility on dollar-backed cryptocurrencies like USDC or USDT. Two future applications, SMART Exposure and SMART Alpha, will allow users to mitigate portfolio concentration and asset price risk, respectively. The underlying insight powering these solutions is that blockchains allow for the tokenization of structured products, encapsulating their financial logic, once reserved for bespoke client offerings, in liquid wrappers. BarnBridge can thus provide a risk-adjusted onramp to DeFi for newcomer individuals and financial entities in spite of the fog of war that remains around the sector.

The following is an example of how SMART Yield functions in practice:

1.User Determines Which Originator Market to Enter: BarnBridge offers users the ability to enter into dollar money markets hosted on Compound and AAVE where their deposits are then lent out by the underlying smart contracts. BarnBridge supports both dollar-backed “stablecoins” (e.g. USDC, USDT) and dollar-pegged cryptocurrencies (e.g. DAI, sUSD). Different stablecoins on different money markets have different supply and demand curves and thus exhibit heterogeneity among their interest rates.

2.User Determines Whether to Enter the Junior or Senior Side: As the user deposits, they’ll see what the originator’s current annualized variable yield is; the highest possible senior fixed rate that could be minted given current market conditions; and the variable annualized rate juniors are earning at that moment. The creation of new seniors is limited by existing junior liquidity, meaning that the greater the disparity between juniors and seniors is in favor of the former, the larger a principal can enter into a fixed rate senior close to the current market rate.

3.BarnBridge Smart Contracts Deposit Funds into Originator Markets: BarnBridge smart contracts know where to deposit users’ assets, the exact amount necessary to cover senior holders’ principals and fixed yields, and the percentage penalty juniors need to pay for exiting their positions prior to the average maturity date of all outstanding seniors. With these guardrails in place, senior holders can be assured that they will receive their fixed interest payment upon maturity, even if underlying rates were to collapse or mass redemptions occurred on the junior side.

4.User Assets Accrue Money Market Yields in Real-Time: DeFi applications allow for interest rates to accrue and compound on a per-block basis; with Ethereum, these updates occur on average every 13 seconds. During periods where the originator market’s annualized rate comes out higher than the weighted-average fixed rate of outstanding seniors, the excess yield is distributed to junior holders. Conversely, when the annualized originator rate comes in lower, a commensurate portion of the yield being earned by the juniors is allocated to the seniors.

5.Juniors Holders are Subsidized for Their Risk-Taking: Every junior holder’s position is represented by fungible tokens indicating their association with the originator market. For example, Compound’s USDC market is designated by the derivative cUSDC token; the token indicating a junior deposit through BarnBridge into it is designated as bb_cUSDC. Because this token is tangible on Ethereum, it can be further deposited into any other ERC-20 standard-compatible smart contract. All of this is to say, it is possible to verify who has deposited into the juniors and to incentivize such positive behavior. The BarnBridge community currently provides a BOND token-denominated subsidy to junior holders, similar to how early startups award early adopters. The value of the BOND token is completely determined by supply and demand on secondary markets.

6.Users Redeem Their Principals and Accrued Yields: The redemption processes for juniors and seniors differ significantly. Seniors can be redeemed for their principal and quoted yield upon the maturity date, or at any point thereafter (i.e., the principal earns yield for all other depositors until redeemed). Juniors can be redeemed for their principal and earned yield at any point, but must pay a redemption fee depending on how far out the average maturity date for all outstanding seniors is, and the current disparity between junior and senior capitalizations. It does not matter whether the redeeming user was the one who minted either the senior or junior in the first place, allowing for secondary markets to form for both.

With this process flow in place, a natural see-saw phenomenon plays out. Juniors are initially attracted to enter a given originator market due to levered yields in a mature state of the system, and by BOND subsidies in earlier days. Their growth outpaces that of the less liquid, lower yielding seniors, but eventually there will come a point where the liquidity provided by juniors and a contemporary spike in market rates will attract users looking to lock in an attractive fixed rate. This injection of senior capital effectively raises the floor of how many juniors could be supported by the system sans subsidies. What is compelling about this model is that it does not force either camp to alter their risk profile: the risk-averse users are subsidized by the risk-on ones, and their interaction unlocks a natural flywheel for capital accumulation through BarnBridge.

In the coming months, the BarnBridge core team will be releasing the smart contracts for two additional applications: SMART Exposure and SMART Alpha. SMART Exposure will focus on addressing concentration risk by allowing users to tokenize a self-executing portfolio strategy that maintains a specific ratio between two Ethereum-based assets. For example, consider a user looking to maintain 80:20 exposure to Ether and USDC; depositing into SMART Exposure would provide them with a liquid token that grants them with proportional withdrawal rights to an automated pool of assets buying into and selling Ether for USDC to maintain the ratio as its price fluctuates. This application does not require a junior-senior structure.

SMART Alpha will require a junior-senior structure to provide users with asset price risk mitigation. Whereas SMART Yield users enter into existing DeFi markets, SMART Alpha users contribute a given asset to a BarnBridge-hosted pool. Senior users receive a claim on a bounded range of dollar-denominated value determined by the size of their principal relative to existing junior user liquidity. This allows senior users to sell the theoretically-unlimited upside of a given asset to junior users in exchange for downside protection on their principal. While juniors are the first to take losses in the case of underlying asset price downturn, this structure provides them collectively with a levered upside position once the price surpasses the average upper bound of all existing senior positions. Because of the composability of BarnBridge-issued tokens, such junior positions could be coupled with negatively-correlated assets in SMART Exposure pools to mitigate their overall downside risk. Moreover, senior positions of popular assets like Ether can further serve as collateral for debt issuance throughout the wider DeFi ecosystem.