Introduction to Yay! - A fusion version of Twitter, Facebook, Discord, Line?
The founding philosophy of Yay! is to "give everyone the opportunity to truly express themselves." As a social application, this is a very appropriate description of the services provided by Yay!, and how Yay! does this, in addition to general social networking There are many applications, and Yay! brings your interests into the application to create a different social environment.
Create different communities based on interests
Source: White paper
In the Yay! app, you can tweet like Twitter, make calls like Discord, or participate in communities like Facebook. The various functions make it feel a bit like a social software complex, with complete and clear functions. It is very Great for finding like-minded people.
The functions currently included in the software include:
Timeline: Timeline is similar to Twitter's tweets. Users can post articles and ideas. It is divided into tracking layout and public layout. The closer the time is to the present, the priority will be displayed.
Group Calling: Instant voice chat room that allows multiple people to chat online at the same time.
Circle: Interest community. You can join different types of communities to make friends. Major categories include games, chat, movies, etc. Users can create their own communities.
Source: Yay!
In general, Yay! is like an integrated version of Twitter, Facebook, Discord, and Line, where you can carry out rich social activities. Of course, likes, forwards, messages, sharing and other functions are also available. Yay! Give users a sense of communication through social media and a sense of belonging through grouping based on interests.
In particular, Yay! is linked to the login methods of many social applications. In addition to the common login methods such as Line and Facebook, you can also use Twitter X account and Worldcoin ID to register, and both of these methods are compatible with the web 3 has close ties, and Yay! has been actively developing web3-related businesses since 2022.
Source: Yay!
Along the way, from social applications to SocialFi
Many people have not heard of Yay!, but Yay! did not come out of nowhere. It was officially released as early as January 2020, and has received support from many people in Japan. Yay! was developed by the Japanese company Nanameue. Before that, Nanameue It has also developed Himabu, another social software software specially designed for students, and has accumulated more than 6 million users in Japan, making it very popular among student users.
The customer group of Yay! is composed of students, young people, and adults. It allows users to find a sense of belonging and find friends with common interests. After all, adults are no less anxious than students. So far, Yay! has more than 9 million registered users, compared with 6.5 million at the beginning of last year, and continues to grow rapidly.
In the financing part, according to official information , Yay! received 1.6 billion yen (approximately US$11 million) in Series B financing in April 2022, with participation from SBI Investment, FFG Venture Business Partners, Headline Asia, IVC (Infinity Ventures) Crypto) and many other institutions, most of which are Japanese venture capital institutions (VC), so Yay! is relatively well-known in the Japanese encryption circle, while it is less discussed in Chinese, European and American languages. So far, the total financing is US$22 million.
Source: X
It is worth noting that after Yay!’s Series B financing, it announced that it would use the funds to build Web3 applications. Since then, Yay! has moved from traditional web2 to web3, and has also started a series of web3 activities and cooperation.
Source: nanameue
It can be seen from official information that in the past two years, Yay! has updated its brand and launched related concept movies, and then published a project white paper in 2023, continuing to cooperate with web3 game platform CryptoGames, Japanese encryption community KudasaiJP, and the well-known blockchain AI project Worldcoin Cooperation, etc. are bringing more users into Yay!'s SocialFi blueprint. Recently, Stakestone's cooperative staking activity was released. Not only did this activity come to a successful conclusion, it also brought Yay!'s voice to the attention of more people. to Yay!.
Source: nanameue
Yay! Economic Model: Play 2 Earn
Yay! has been actively building its ecosystem since turning to web3 development. The economic model of Yay!'s ecosystem integrates general tokens and NFTs, and more users are expected to participate in the economic model simply and quickly through social software.
The official mentioned a complete economic model in this year ’s latest white paper , which includes 4 types of assets:
Governance token $YAY (to be issued on Soneium)
Circulation volume: 10 billion coins
Main purpose: Participate in project governance
Token distribution:
Source: White paper
As summarized in the table below, nearly half of the tokens will be allocated to the ecosystem for operations. Including marketing and airdrops, equivalent to 60% of the tokens will be provided to participating users. The team and investor portion are in TGE There are no unlocks at the time of release, and long-term release rules are planned to avoid short-term selling pressure, which is quite good.
category | Total proportion | TGE Unlocked | lock-in period | release time |
Ecology | 44% | 5% | - | 72 months |
Early Token Investors | 10% | 0% | 12 months | 24 months |
early stage equity investor | 10% | 0% | 12 months | 24 months |
team | 10% | 0% | 12 months | 36 months |
reserve fund | 8% | 100% | - | - |
Airdrop part | 6% | 75% | - | - |
IEO and issuance activities | 4% | 100% | - | - |
Partners and advisors | 4% | 0% | 12 months | 24 months |
marketing part | 4% | 10% | - | 30 months |
Utility token $EMPL (to be issued on Soneium)
Circulation: Unlimited
Purpose: Mainly for community rewards and Pal NFT battle rewards
Token distribution: $EMPL 100% of the tokens will be distributed to users
$EMPL tokens are divided into general tokens and locked tokens. General tokens can be exchanged for $YAY, while locked tokens cannot be withdrawn. They are mainly used to upgrade the Pal level.
Yay! Genesis NFT (ERC-721a)
Source: White paper
Circulation: 5000 pieces
Purpose: Genesis NFT can be used to mint Pal NFT, or it can be pledged to earn $YAY tokens.
Yay! Pal NFT (will be issued on Soneium)
Source: White paper
Circulation: Unlimited
Purpose: Pal NFT is used as the main axis of Yay! social game Play 2 Earn. Users can purchase Pal and hatch it. They can use $EMPL tokens for cultivation, and then use Pal to fight and earn $EMPL. Pal has different rarities. , life span and mortality rate can also be freely traded in the market.
This model is relatively rare now. After all, the Play 2 Earn method has been proven by multiple projects from the GameFi craze in 2021 to the present to be unsustainable. Although it can still create prosperity with popularity, it still cannot escape death, and Whether Yay will change the rules to incorporate other elements in the future remains to be seen.
Recent key news
Collaborate with Sony
Source: X
Yay! The original web3 economic model was built on Ethereum and Arbitrum, and Sony’s recently released Soneium happens to be the Layer 2 of Ethereum. The news sparked heated discussions in the community because Sony said it would fully support the blockchain industry. The development and exploration of Soneium will bring more possibilities to Sony's game industry and audio-visual industry. It will also give many projects the opportunity to cooperate with Sony to build related applications on Soneium, which is a rare and good opportunity.
Yay! stated in its official tweet that it will continue to build Yay! on Soneium and support Soneium's future large-scale applications, which will also coincide with the vigorous development of Japan's blockchain industry. The news directly detonated the Yay! community and also It can be seen that the Japanese people have very deep national sentiments.
Stakestone staking activity
Source: official website
Staking activity official website: Yay! Dashboard
Although the current staking activity quota is full, more quotas should be opened in the future, and based on the rewards of this staking activity, I believe that the next activity will also be very popular. Users who participate in staking this time can receive the following rewards.
2x STONE-W1 Points
Yay! Gold
???? Points
Eigenlayer Points
Symbiotic Points
Mellow Points
Among them, Yay! Gold points will be ranked and Prime Pass will be issued, and holders of Prime Pass will get $YAY token air investment price and limited edition Yay! Genesis NFT. This is why this staking event is so hot. At present, The next event has not been released yet, but it is expected to be released in November. Remember to follow Biyan to avoid missing out on money-making opportunities!!
Staking activity details: official documents
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summary
As people in the crypto, we have seen too many projects. The buzz was high when they were released, and the community was deserted when it plummeted. However, most projects that continue to work are not this way, and the value-preserving ability of project tokens is also high. Therefore, the author believes that in the ups and downs of the market, in order to clearly understand the nature of the project, we still have to return to first principles for analysis. Let's look back at Yay!.
Yay! has also experienced many twists and turns from 2020 to the present. Although the Clubhouse craze in 2021 drove the development of the voice community, it quickly cooled down. Yay! has not declined because of this, and the terrible crypto market in 2022 has not let Yay ! Abandoned the road of web3, but Yay! In the past few years, in addition to continuing to accumulate users and growing its business, it has also cooperated with more projects. From a fundamental point of view, it is indeed worthy of our attention.
Partner with StakeStone: X
Works with LayerZero: X
Partnering with Worldcoin: The SocialFi "Yay!" integrates with Worldcoin's World ID to boost the adoption of web3 | News | Comm
Source: X
But there is still a problem at the moment. The $YAY token is also a classic VC coin. The market currently despises VC coins. Because they are afraid of being cut off, no one is willing to take over. Almost everyone is killed. The lofty vision can no longer convince everyone to pay. , the author believes that the way to break the situation may lie in its community users, Yay! If it can turn the economic flywheel by converting user loyalty and expectations of the Sony chain, it may be able to break the inferior impression of VC coins and pull SocialFi to a higher level. realm.
