Yay! Pal (NFT)

Pal

• Characterized by cute “digital pet” designs

• Issued as an NFT on the Soneium under ERC-721; no token issuing limit

• Yay! Users holding Pals will be able to participate in races after contributing to the Yay! community. After races, users will obtain EMPL and locked EMPL as a reward

• All Pals have their life span. They will live for a certain, guaranteed period, after which the chance that they will die increases by a small percentage each day. Life span and dying rate will be determined by the rarity of each Pal

• After Pals die, users will no longer be able to receive rewards for their community contributions through those Pals

• Pals can be obtained free of charge from the pool, but rewards will be less than if the user purchases Pals from the marketplace

• Pals can be sold on the marketplace with their price depending on supply and demand

Tokenomics From the User’s Perspective

When Yay! users hold Pals, contribute to the community, and participate in races, they will be able to receive EMPL and locked EMPL as a reward. Since Yay! comes complete with wallet and Yay! Marketplace access within the app, users can easily acquire Pals using the following steps, and will not need to use additional apps. The steps to acquire a Pal are as follows.

Purchasing Pals from the Marketplace

1. Yay! users send ETH to their in-app individual wallets. (Credit card payments will also be supported in the future)

2. Then users purchase Pals from the app’s Yay! Marketplace

3. Once Yay! users hold Pals and complete community contributions, they will be able to participate in a race

4. Users receive EMPL and locked EMPL commensurate with the value of their contributions and race outcomes

5. Users can use EMPL rewards on Yay! to raise Pals, or can exchange EMPL for YAY to withdraw money. (Note: Locked EMPL can only be used in-app.)

Obtaining Pals from the Pool

1. Yay! users obtain Pals from the in-app pool

2. Once Yay! users hold a Pal and complete community contributions, they will be able to participate in a race

3. Yay! users receive EMPL and locked EMPL commensurate with the value of their contributions and race outcomes

4. Users can use EMPL rewards on Yay! to raise Pals, or can exchange EMPL for YAY to withdraw money. (Note: Locked EMPL can only be used in-app.)

Pal Design

• Because Pals have limited life spans, the period of time in which Yay! users can earn rewards is also limited

• Yay! users who purchase Pals on the marketplace can earn more than the ones who acquire them from the pool

• Pals have various parameters that affect their rarity and ability to fight in a race

• Unlike other GameFi services, new Pals cannot be minted by combining two Pals. The minting of new Pals is the only privilege of genesis holders.