NeoDAX
Open source exchange software
Yellow Network
P2P liquidity aggregation
Free
(requires $YELLOW tokens)
| $YELLOW Stacked | Opened state channels |
|---|---|
| 250.000 | 4 |
| 500.000 | 8 |
| 1.000.000 | 16 |
| 2.000.000 | 32 |
| 4.000.000 | 64 |
BECOME A BROKER
For fintech & crypto startups
|ADD ASSETS TO PORTFOLIO
For traditional finance Industry
|SAVE ON FEES WITH $YELLOW TOKENS
For profit-oriented traders
| -| ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------- | -| Kickstart your local/worldwide brokerage business OR build a broker to buy/trade unique assets with features and performance of centralized exchanges, while funds are protected with smart-contract custody. | Enrich the number of supported assets and increase revenue streams with a low-friction legal framework. Wrapped tokens managed using state channel smart contracts provide access to diverse assets and unique markets. | Reduce the trade fees charged by the platform while holding $YELLOW tokens on your balance on Yellow-supported platforms. | -| | | | - -_**The global strategy is to have 1,000 nodes operating globally on the network by 2028.**_ - -#### Key stakeholders are: - -* **Existing Customers** - -Over 50 exchanges are ready to engage with the beta launch of NeoDAX™ v4 with the native Yellow Network integration immediately. - -* **FinTech Entrepreneurs** - -Those interested in opening an exchange. Our new solution fits every budget and is radically more simple than a standard centralized exchange. - -* **Financial Institutions** - -Co-invest with us and show interest in selling their services through Yellow Network; they bring a deal flow of their incubates. - -* **Crypto-Enthusiasts, Miners & Traders** - -Can quickly deploy our node software on any cloud and start liquidity-mining with their exchange account. - -#### Token Usage[](https://www.yellow.org/docs/litepaper/yellow-token#token-usage) - -$YELLOW tokens are locked to be able to open trading channels with other brokers. - -The node software is open-source; however, you need to lock $YELLOW tokens to become an exchange broker in Yellow Network. - -**Access shared liquidity** - -* Launch an application on supported hardware and give it a name. -* Lock 250,000 YELLOW tokens to activate 4 peer-to-peer trading channels. -* Stake collateral to be able to exchange between brokers. -* Access shared order book liquidity of connected peers. diff --git a/docs/legacy/business/background.md b/docs/legacy/business/background.md deleted file mode 100644 index da63276..0000000 --- a/docs/legacy/business/background.md +++ /dev/null @@ -1,75 +0,0 @@ -# Background - -Cryptocurrency trading is now a reality witnessing a massive user adoption rate worldwide. Since Bitcoin, many alternative projects have been developed in the space. Users now have a broad choice of different blockchains and many decentralized applications. New challenges appear to simplify the users' journey in this wild wide web 3.0. Bridges are an example of technologies brought to interconnect blockchains but suffer from a lack of decentralization, an ERC20 native connection from one to another chain, and a need for significant liquidity for many tokens on every chain to satisfy the users' demand. - -### Related Work - -#### Centralized Exchange - -**Security concerns** - -Centralized exchanges are entirely in charge of the assets deposited by users, meaning users have to trust them to secure platform wallets correctly and process trades fairly. Big exchanges take security seriously and make significant investments to do so. However, we can still read news of hacked cryptocurrency exchanges and users' funds drained by attackers. Nevertheless, often smaller exchanges can not afford the cost of securing users' funds effectively. - -**Support of blockchains** - -For a centralized exchange to continue running, many operations are needed. We just mentioned the security aspect, which requires a dedicated team's full-time attention. The support of many blockchains is also complex and leads to high costs. Each of them needs to be explicitly monitored to ensure nodes and platform applications stay synchronized and process blocks in real-time. The load of some chains sometimes escalates quickly with the cost of transactions, leading to withdrawals not proceeding or doing so very slowly. Overall the gas price for withdrawal transactions and deposit processing might need adjusting frequently. - -**Compliance** - -Complying with local regulations can be challenging for exchanges. Small exchanges will probably prefer to target a single market and abide by a single regulator. Another common approach is registering the company in a country where it can operate without regulations. This solution exposes users to the platform operator's goodwill, regulation rules usually being made to protect customers. - -**Market making & Access to liquidity** - -Running an exchange with many markets imposes maintaining order books with tight spreads to provide the best offers possible to users. It also requires deep liquidity in the order book to avoid significant price moves in case of sporadic big demand in a market. Centralized exchanges usually delegate this duty to "market makers." This service can be costly, and the exchange might still have to provide a big part of the liquidity injected into the order book. - -#### Uniswap - -**Short history** - -Uniswap is a decentralized exchange application launched in 2018 \[@uniswap-history]. It is the first DEX to gain significant traction on the Ethereum Mainnet by August 2020. Since then, many clones and other decentralized applications have been launched on many blockchains and used by millions of users to swap tokens, lend or borrow cryptocurrencies assets, bridge funds between blockchains, and many more use cases. - -Uniswap paved the way for DeFi (Decentralized Finance). - -**Security, Auditability** - -It brought many advantages compared to centralized exchanges. The exchange software is fully implemented in smart contracts deployed on the blockchain. Thus anyone can read how it works. Independent parties perform many audits, and many DeFi applications are left with breaches, with funds exploited. However, over time the security of those applications tends to be proven. - -**Automatic market making** - -Anyone can provide liquidity to Uniswap markets (AKA pools) and receive a revenue share from fees collected during trading (AKA swaps). Moreover, the price of assets is managed automatically; every trade impacts the price up or down depending if it is an ask or a bid. Since version one, the protocol evolved to be more resilient in v2 and to use more effectively the liquidity in v3 \[@angeris2020improved]. - -Uniswap protocol provided an elegant solution to the problem of market making and access to liquidity. - -**Performances** - -The success of those applications has led to congestion in the Ethereum network, cost of transactions has been increasing, reaching unsustainable levels. DEXes and other DeFi applications are facing the limitation of blockchains throughput. Many projects claim to solve the problem of blockchain scalability, and some drastically improve the throughput of transactions like Polygon or Solana. - -**Front running bots** - -Transparency of blockchain transactions and the fact that Ethereum orders transactions by gas price expose users of DEXes to front-run bots. \[@daian2019flash]. - -Such bots are monitoring the blockchain and the in-memory transactions pool (containing transactions not yet mined in a block) for incoming swap transactions. They check the slippage tolerance allowed by the user and calculate the cost of front-running transactions. When profitable, they execute a transaction just before the user by setting a higher gas price, and finalize this transaction just after the user takes the profit. - -**Comply with local regulations** - -Decentralized applications are accessible by everyone on the planet in the same way, without any difference between users. This feature allows anyone to access cryptocurrency wallets and use those solutions; this is a powerful feature that gives access to people who can not open a bank account to cryptocurrencies and decentralized finance products. - -Nevertheless, each country has specific regulations applied to financial products; thus, those fully open and restrictionless solutions often violate those rules. - -#### Lightning Network \[@poon2016bitcoin] - -The Lightning Network is a Layer-2 solution for the Bitcoin network. It was proposed as a solution to the scalability problem of the Bitcoin network. It leverages state channel technology to be used as a payment channel to perform any number of off-chain transactions. A payment channel is initiated by an on-chain funding transaction. Then it is followed by any number of off-chain transactions. Finally, to commit balances, a settlement transaction is performed on-chain. At the same time, the lightning network introduces real-time fund transfer in the blockchain. Yellow Network protocol leverages the same technology for high-frequency trading. - -#### DyDx \[@juliano2017dydx] - -[DyDx](https://whitepaper.dydx.exchange/) is a trading platform of derivatives markets. It combines the speed of a centralized order book and the transparency of decentralized applications. The result is a more secure and faster software architecture. The downside is that it is limited to Ethereum's users. - -#### Qredo \[@mccuskerqredo] - -[Qredo](https://www.qredo.com/qredo-white-paper.pdf) focuses on securing digital assets using MPC \[REFERENCE NEEDED], eliminating the sensitive private key from the signature computation. It also allows settlements by updating an internal ledger entry without costly transactions on the blockchain \[TO BE CONFIRMED]. While Qredo brings state-of-the-art security for digital assets, it doesn't facilitate high-frequency trading. - -#### LayerZero - -LayerZero provides an SDK that enables cross-chain transactions, but it requires modifying existing smart contracts and does not solve performance issues. It actually increases the number of transactions on already congested chains. - -### diff --git a/docs/legacy/business/conclusions.md b/docs/legacy/business/conclusions.md deleted file mode 100644 index 732ad5b..0000000 --- a/docs/legacy/business/conclusions.md +++ /dev/null @@ -1,3 +0,0 @@ -# Conclusions - -By decoupling trading and settlement Yellow Network's protocol makes possible decentralization of high frequency trading and widen the access of a great variety of assets, including digital and traditional assets. diff --git a/docs/legacy/business/market-evaluation.md b/docs/legacy/business/market-evaluation.md deleted file mode 100644 index fb699fb..0000000 --- a/docs/legacy/business/market-evaluation.md +++ /dev/null @@ -1,84 +0,0 @@ -# Market Evaluation - -### Market Evaluation & Challenges - -#### Lessons from Traditional Finance - -We’ve been powering 150+ fintech businesses and expect blockchain-powered finance to grow exponentially. Crypto-trading is disruptive but how does it stand against traditional finance? - -*[Traditional Finance vs Crypto Finance Comparison Chart]* - -To overgrow The Wall Street, crypto should use and reimagine the competitor’s strengths. - -### Industry Participants and Regulations - -We are convinced that Crypto Finance should learn and leverage from the legacy of Traditional Finance when it comes to responsibilities and users' protection. It will finally bring blockchain and Web3 finance to the new level of mass-scale. - -#### Financial Forecast & Target MarketCap - -Crypto Trading Volume (datasource: coinmarketcap). - -| **Year** | **Volume** | **YoY** | -| -------- | -------------------- | --------------- | -| 2014 | $13,504,129,508 | | -| 2015 | $14,758,148,680 | 9.29% | -| 2016 | $44,388,474,008 | 200.77% | -| 2017 | $2,065,254,720,344 | 4552.68% | -| 2018 | $6,630,504,556,251 | 221.05% | -| 2019 | $20,139,767,025,388 | 203.74% | -| 2020 | $44,487,027,596,607 | 120.89% | -| 2021 | $58,262,543,013,758 | 30.97% | -| 2022 | $69,915,051,616,510 | 20% (estimated) | -| 2023 | $83,898,061,939,812 | 20% (estimated) | -| 2024 | $100,677,674,327,774 | 20% (estimated) | - -Our projection of the expected gross revenue ratio from HFT trading activities vs. retail trading. - -| **Year** | **2022** | **2023** | **2024** | **2025** | -| ------------------------ | -------- | -------- | -------- | -------- | -| Active nodes | 185 | 385 | 585 | 845 | -| Number of active brokers | 37 | 77 | 117 | 164 | -| Est. HFT Gross revenue | $51M | $230M | $552M | $1,064M | -| Est. Total Gross revenue | $63M | $254M | $600M | $1,157M | - -Crypto trading market is already large, reaching $60T volume in 2021 (with 30% YoY growth). Conquering half of a percent share in crypto trading, Yellow Network becomes a hectocorn, executing up to $600B yearly and connecting hundreds of brokers. - -| | **2022** | **2023** | **2024** | -| --------------------------------------- | ------------ | ------------ | ------------- | -| Crypto Trading Volume | $70 trillion | $84 trillion | $100 trillion | -| Yellow Network Volume Share | 0.08% | 0.30% | 0.60% | -| Number of brokers | 50 | 120 | 250 | -| Network gross revenue | $56M | $250M | $600M | -| Projected Market Cap (20x Gross Profit) | $1.1B | $5B | $12B | -| CMC Rank | Top-100 | Top-40 | Top-20 | - -#### Market Positioning: Comparable Projects FDV - -The Yellow Network provides foundational infrastructure for decentralized finance, positioning us alongside major industry players. Based on the Fully Diluted Valuations (FDV) of comparable projects as of October 3, 2025, the market opportunity is substantial: - -| Project | FDV (Fully Diluted Valuation) | -| ----------- | ----------------------------- | -| HyperLiquid | $50B | -| Aster | $14B | -| Uniswap | $8B | -| Jupiter | $3B | -| Raydium | $1.6B | - -These valuations demonstrate the significant market opportunity for infrastructure providers in the DeFi space. Yellow Network's unique approach of providing the underlying layer-3 infrastructure rather than operating as a single trading venue positions us to capture value across multiple use cases and applications. - -#### Our Partners - -*[Image placeholder: Partners logos diagram]* - -We are currently receiving more than 50 leads/applications per week with an average budget of \~$250K. - -#### Cost-Revenue Structure for Brokers - -Our solution suggests significant cost reduction of R\&D as well as Infrastructure maintenance costs, allowing businesses inside Yellow Network to focus on marketing and growth. It is also enabling new revenue streams. - -| **Costs** | **Revenue Streams** | -| -------------------------------- | ------------------------------- | -| Marketing & Customer Acquisition | Trading Fees | -| Product development | Network Liquidity share profits | -| Operations, Customer support | Asset listings and Launchpad | -| Infrastructure | Dedicated WASM trading bots | diff --git a/docs/legacy/business/token-utility.md b/docs/legacy/business/token-utility.md deleted file mode 100644 index fb00b81..0000000 --- a/docs/legacy/business/token-utility.md +++ /dev/null @@ -1,55 +0,0 @@ -# Token Utility - -* **Token Name:** YELLOW -* **Token Ticker:** $YELLOW - -### **Token Usage**[****](https://www.yellow.org/docs/litepaper/yellow-token#token-usage) - -$YELLOW tokens must be locked to access the state-channel infrastructure and become a participant in the Yellow Network. - -The node software is open-source; however, you need to lock $YELLOW tokens to become an exchange broker or application in Yellow Network. - -## Participant Registry and Collateral - -A **central registry and vault contract** is used for participants to register and lock $YELLOW tokens. - -### Minimum Requirements -- There is a **minimum amount** required to become a visible licensed broker or application on the network, but there is **no maximum**. -- The amount applications are ready to put at stake should increase trust in their correct behavior. -- Lock 250,000 $YELLOW tokens to activate 4 broker-to-broker trading channels -- Stake collateral to be able to exchange between brokers -- Access shared order book liquidity of connected peers - -### Registry Information - -The registry serves as a **reputation database** for participants, recording key information such as: -- Trading volume -- Disputes lost (recorded on-chain) -- Amount of capital locked -- Public key registration -- Reputation scores - -All participants should have registered their public key and locked $YELLOW tokens before accessing the layer-3 infrastructure. - -### Yellow Token Characteristics - -**Token Type:** ERC-20 - -**Blockchain Network:** ETH - -**Max Supply:** 10,000,000,000 - -### **Token Distribution** - -*[Token Distribution Chart]* - -* 30% will be dedicated to ecosystem projects development (Community Fund)**;** -* Funds from that pool will be allocated based on community proposals 15% will be allocated for growth-hacking rewards; -* 10% will be allocated for trading mining rewards; -* 20% will be proportionally vested to the investors during 3 years period; -* 10% will be proportionally vested to the founders and team during 5 years period; -* 12.5% will be allocated for Yellow Treasury and for future growth; -* 2.5% will be allocated for liquidity provision. - - - diff --git a/docs/legacy/faq.md b/docs/legacy/faq.md deleted file mode 100644 index f1f760f..0000000 --- a/docs/legacy/faq.md +++ /dev/null @@ -1,273 +0,0 @@ -# FAQ - -### Company - -#### About Yellow Companies Group - -Yellow is an umbrella brand, representing a conglomerate of fintech and blockchain product companies. - -Contributors to this project within the Yellow ecosystem are Openware (technology—NeoDAX™), Assetum (market-making), Yellow Capital (incubates and leads), Attirer (crypto marketing services). - -We merge the multi-year crypto software development experience of Openware and Yellow’s success running a crypto exchange. This multi-structural practice allowed us to inspect numerous potential bottlenecks on both sides. - -Yellow Network is powered by Openware’s software; NeoDAX™. While NeoDAX™ brokerage software is free, connecting the node to liquidity streams (channels) requires staking the $YELLOW token—starting from 250,000 for 4 channels. - -We offer optional enterprise-grade support for node runners which is $240,000 per year. - -Moreover, the Openware partner network will ensure the adoption and integration of new and operating CEXs and DEXs to the Yellow Network. - -Assetum is a market-making company that would contribute to the project’s liquidity via the widespread network of partnerships. Yellow Connect brings new exciting Blockchain solutions and crypto projects through the Yellow Incubator to ensure their native integration into the ecosystem. - -#### **About Openware, Inc.** - -Cloud Software Engineering company with experience of over ten years of servicing European retail banks, shifting their focus entirely to the blockchain industry with the release of open-source modular platform [NeoDAX™](https://github.com/openware/neodax) for building digital asset trading systems. Over the past years, Openware has shipped over 150 trading platforms to their clients. - -#### About Yellow.com, Inc. - -Crypto Market Maker that provides startup seed funding, mentorship, advisory, data analytics, and fintech software solutions. Yellow is also a lifestyle with a vibrant blockchain community through its co-working hub in Chiang Mai (Thailand), conferences, meet-ups, and entertainment for digital nomads. - -**❓ How many people are 100% dedicated to working on Yellow Network?** - -All of the team members are dedicated to the Yellow Network. We have been running a 12-week [Blockchain Hackademy](https://www.youtube.com/watch?v=TWv\_tgOpTik) for four years where students master their knowledge and specialize in blockchain & software development. Today we can grow at a pace of 5 dev/month. - -**❓ Could you tell us about Yellow Incubator, what do they mainly work on?** - -Yellow Incubator is a vastly experienced team that advises, develops, and funds blockchain, crypto, DeFi, and NFT projects, providing seed investment, VC, and market making solutions. We finance solid projects that use NeoDAX™, reducing license costs for startups and getting equity. The company also counts Legal and Marketing teams. And we are always busy at our [blockchain incubator premises](https://www.youtube.com/watch?v=VoZLpTlSzds) in Chiang Mai, Thailand, known for its welcoming network of blockchain experts, entrepreneurs, and enthusiasts. - -### Business Model - -❓ What is the expected gross revenue ratio from HFT trading activities vs. retail trading? - - - -| **Year** | **2022** | **2023** | **2024** | **2025** | -| ------------------------ | -------- | -------- | -------- | -------- | -| Active nodes | 185 | 385 | 585 | 845 | -| Number of active brokers | 37 | 77 | 117 | 164 | -| Est. HFT Gross revenue | $51M | $230M | $552M | $1,064M | -| Est. Total Gross revenue | $63M | $254M | $600M | $1,157M | - -**❓ How do you plan to increase the number of brokers during the following years?** - -We currently have a number of brokers in the alpha testing of the network. - -Every month, we receive 160 new customer inquiries for creating their brokerage. - -Also, we have about 20 partner distributors who have their stream of customers. They can install the appliance that is activated when they stake enough $YELLOW tokens. - -**❓ How do you plan to share revenues with Yellow network users? Where do the fees go?** - -To collect fees, you must run a Yellow node and mine trades. You can create liquidity channels and charge for the usage (traffic using it). Your collateral on this state channel is used to connect the network to reach more liquidity, thus, collecting a fee from a volume in it. - -Transaction fees are collected from clearing and trading fees and deposited into the **Yellow Treasury Vault**. The vault implements a buy-back mechanism of the $YELLOW token to stabilize its value through liquidity provision. - -**❓ What is the Yellow Treasury Vault?** - -The Yellow Treasury Vault (formerly Yellow Reserve Vault) is our treasury entity with the following main responsibilities: -1. To provide stability for the $YELLOW token through a buy-back mechanism -2. Building a diversified currency reserve to resolve disputes between brokers -3. Collecting transaction fees from clearing and trading fees - -The Treasury Vault can decide to burn $YELLOW under certain conditions to support the valuation of the native Yellow Network token. - -**❓ What is your way of calculating the Projected Market Cap?** - -Using the NASDAQ algorithm, we calculated it at 20x annual revenues of all connected brokers, it is usual for crypto startups to reach 100x annual revenues. - -**❓ How does Yellow Network compare to other DeFi projects in terms of market valuation?** - -Yellow Network provides foundational infrastructure for decentralized finance, positioning us alongside major industry players. Based on the Fully Diluted Valuations (FDV) of comparable projects as of October 3, 2025: - -| Project | FDV (Fully Diluted Valuation) | -| ----------- | ----------------------------- | -| HyperLiquid | $50B | -| Aster | $14B | -| Uniswap | $8B | -| Jupiter | $3B | -| Raydium | $1.6B | - -Yellow Network's unique approach of providing the underlying layer-3 infrastructure rather than operating as a single trading venue positions us to capture value across multiple use cases and applications. Unlike HyperLiquid or AsterDEX which operate as single trading venues, Yellow Network enables rapid development of DEX platforms with lower CAPEX and OPEX. - -**❓ How is the network Combined Revenue calculated? What are the hypothetical values for trading fees?** - -The Network Combined Revenue is calculated based on the revenue of all brokers of the network. The trading fees will range from 0.1 to 0.15%. - -### Tokenomics/Finance - -**❓ Have you worked with any Tokenomics advisor? If yes, which one?** - -Besides our in-house experts, we are delighted to have various reputable Tokenomics Advisors such as [**Juergen Hoebarth**](https://www.linkedin.com/in/juergenhoebarth/) or [**Juan Otero**](https://www.linkedin.com/in/joterovila/) supporting our project. - -**❓ Total supply of 10 Billion tokens = hard cap, correct?** - -Yes, correct. - -**❓ What benefits do YELLOW token holders get?** - -* Ability to stake $YELLOW token to run a node; -* Ability to stake token for liquidity mining (collecting fees going through the channel); -* DAO is possible depending on US regulations (DAO risks qualifying the token to security, which we don’t mind, but security token can’t be listed on most CEX, so it's really a gray area these days); -* Social activity such as influencing articles and projects on [yellow.com](http://yellow.com) launchpad; -* Paying fees for liquidity, and reducing these fees by the number of $YELLOW tokens in the hold. - -**❓ Do you have plans to move to the DAO model (as a community-driven model)?** - -Yes. Community funds and 55% of the tokens are DAO-driven. - -**❓ How does your company treasury work?** - -The company treasury is created to expand any group-related company, but it will most likely be inter-company loans, as those tokens are on the Seychelles balance sheet. - -**❓ Trade mining rewards: what happens when the 10% have been distributed? Is it just to boost acquisition and liquidity at the beginning?** - -Similar to bitcoin rewards, trading mining only brings the fees, but no additional rewards. - -**❓ What entity will sell the tokens?** - -[Layer-3 Foundation](https://www.layer3.foundation/). - -### Product / Architecture - -**❓ What is Yellow Clearnet?** - -Yellow Clearnet is our virtual ledger layer-3 infrastructure that forms the foundation of the Yellow Network. It is composed of: -- State-channel smart contracts using **nitrolite** (a simplified take on the Nitro protocol) -- **Clearnode** - a golang microservice that acts as the off-chain service for state-channel ledger operations -- Clearnodes serve as gateways from blockchain to layer-3, handling account record keeping and blockchain deposits/withdrawals - -The layer-3 was launched in 2025 with SDK released to builders and has been used in multiple Hackathons. - -**❓ What is NeoDAX and how does it relate to Yellow Network?** - -NeoDAX is the prominent application built on top of the Yellow Clearnet layer-3 infrastructure. It provides broker-to-broker trading venues. The layer-3 virtual ledger allows rapid development of DEX platforms like NeoDAX with lower CAPEX and OPEX, enabling builders to create fast DeFi applications. - -- NeoDAX SPOT release is expected before the end of 2025 -- Q1 2026: NeoDAX will support SPOT trading between brokers -- Q2 2026: NeoDAX plans to add support for Perpetual contract trading - -**❓ What other applications are built on Yellow Network's layer-3?** - -Besides NeoDAX, the Yellow Network ecosystem includes: -- **Watchdogs**: Replicate states for participants and call challenges in case of disaster -- **Oracles**: Off-chain price feeds and data providers using $YELLOW token subscription model -- Other high-speed DeFi applications utilizing the virtual ledger - -**❓ Why did you choose a state channel technology among other scaling solutions? Why not side-chains or rollups?** - -State channels are faster, not limited to single side-chains; they also enable cross-chain trading. The layer-3 virtual ledger approach remedies issues with interblockchain communications by using state-channel smart contracts deployed on every chain and synchronizing data off-chain using traditional high-speed databases such as Postgres, SQLite, and DHT networks like Kademlia. - -This approach avoids the problems of copying state from one chain to another, which generates waste on-chain, increases transaction usage per chain, is very slow (requires blockchain confirmation on both ends), and is complex to scale as a generic solution. - -**❓ "Liquidity providers take a share of profits from trading fees."—Is everything happening on-chain? How do you manage that with state channels?** - -Funding, opening state channels is on-chain. Trading is performed off-chain (both local trades on Broker's node and broker-to-broker trades). Brokers deposit collateral and $YELLOW tokens, so they can exchange the liquidity then, and the provider collects the fees. - -**❓ What types of collateral are required in Yellow Network?** - -There are two types of collateral: -1. **Access collateral** - For accessing the layer-3 ledger layer. Participants lock $YELLOW tokens to gain access to the state channel infrastructure. -2. **Trading collateral** - Typically a stablecoin amount locked for a NeoDAX session, either from retail-to-broker or broker-to-broker trading. - -All participants must register their public key and lock $YELLOW tokens in the central registry and vault contract. - -**❓ What is the Participant Registry?** - -The registry is a reputation database for participants, recording key information such as: -- Trading volume -- Disputes lost (recorded on-chain) -- Amount of capital locked -- Public key registration -- Reputation scores - -There is a minimum amount required to become a visible licensed broker or application on the network, but no maximum. The more applications are willing to stake, the more it increases trust in their correct behavior. - -**❓ What Layer-1s are you connected to and planning to connect to?** - -We plan to connect to every Layer-1,2 bridges, wallets, bank, exchange. Partners are in queue for the software development where our engineer builds the connectors, then we make a joint press release. - -**❓ How do Finex nodes sync prices? Will there be a price difference between nodes? Do all Finex nodes share the same liquidity depth? Can the Finex node run as a standalone mode?** - -Broker-to-broker broadcast using a PubSub; a market is a Topic. There can be price differences between nodes. Depending on how many peers this node has, it has a more or less complete Orderbook. (Think torrent discovery of node). - -All Finex nodes can show the same depth; how deep they go depends on their state channel collateral. The most advanced state-channel protocols are between NeoDAX nodes and other backend servers, allowing instant, real-time PNL margin confirmation, which provides access to on-chain margin collateral at any given disaster event. - -Finex nodes can run stand-alone with non-network orderbooks. - -**❓ Is the Finex network based on blockchain architecture or other distributed architecture?** - -Using LibP2P (think ipfs) it is a new network with gateways being state channels Smart-Contracts on each Layer-1,2 - -**❓ If the Finex network crashes, how to ensure the security of users’ assets based on this architecture?** - -Users’ assets are in the smart contract custody, a crash would not affect them, they could withdraw their funds even if the broker never comes back. - -**❓ OpenFinance uses Custody to host user assets. If users deposit assets into this contract if the L3 state channel crashes, how can users withdraw their assets?** - -They can withdraw by calling the method from MetaMask. - -**❓ Can you elaborate on cross-chain settlements?** - -Settlements are often performed through withdrawal of funds from Layer-3 to any target blockchain, with the clearnode responsible for settlement. The escrow infrastructure depends on each chain's capacity - they are often simplified state-channels for lightweight ledger operations. In some cases, the escrow mechanism used will be a Hash Timelocked Contract (HTLC). - -An "Adjudicator" is a smart contract that collects and releases funds for a state channel; it is possible to design Adjudicators with two or more smart contracts for custody, which means it can open a channel between brokers from different networks. - -**❓ What custody solutions does Yellow Network recommend?** - -Brokers are identified by an ECDSA key-pair. They are recommended to use an MPC TSS (Multi-Party Computation Threshold Signature Scheme) custody solution such as the FROST protocol. - -A key security principle depends on the diversity of custody solutions and providers used by the brokers to ensure there is no central vulnerability to the network. This distributed approach to custody enhances the overall security and resilience of the Yellow Network. - -**❓ Can you elaborate on Dispute Resolution?** - -A dispute occurs when brokers do not agree on the final balance, this is most often due to network issues or malicious broker cases. Yellow Network has implemented a comprehensive dispute resolution system: - -**Automated State Channel Disputes:** -- State channels have an automated way to challenge a state for unlocking escrowed funds -- However, this does not cover all possible malicious behavior happening off-chain - -**Yellow Online Dispute Resolution Center (ODRC):** -The ODRC handles all manual disputes through auditing logs and quorum vote of appointed anonymous auditors. Any participant can file a dispute against another participant for a filing fee. - -An independent arbitration board consults the audit trails available and enforces the outcome of the dispute, which may result in: -- A reputation fault -- A token slash (participant collateral can be slashed in case of dispute loss) - -Reputation and disputes are recorded on-chain in the participant registry, ensuring transparency and accountability. - -**❓ How is the challenge/judge mechanism of Yellow Network's state channel designed?** - -The system includes multiple layers: -1. **Watchdogs**: Auditing entities that replicate state from channels using DHT or other fail-over mechanisms, share audit logs, and can call challenges to unlock escrowed funds in the event of a disaster (e.g., a NeoDAX crash/bankruptcy) -2. **Automated challenges**: For state channel disputes related to unlocking escrowed funds -3. **ODRC**: For manual dispute resolution through arbitration and quorum voting - -### Traction / Development Stage - -**❓ What is the current status of Yellow Network development?** - -In 2025, we created the virtual ledger layer-3 "Yellow Clearnet": -- The SDK is available to builders and has been used in multiple Hackathons -- The layer is composed of state-channels smart-contract nitrolite (a simplified take on nitro) and clearnode, a golang microservice to act as the off-chain service for state-channel ledger operations -- NeoDAX SPOT release is expected before end of 2025, now built on top of clearnet layer -- In Q1 2026, NeoDAX is expected to support SPOT trading between brokers -- In Q2 2026, NeoDAX plans to add support for Perpetual contract trading - -**❓ How has the blockchain fragmentation issue evolved since the project started?** - -Since we started this project, many more Layer-1 and Layer-2 blockchains have appeared, and we are now dealing with hundreds of blockchains. The fragmentation is now acute, making our layer-3 virtual ledger solution even more critical for unifying cross-chain liquidity. - -**❓ Is** [**Yellow.com**](http://yellow.com) **currently running as a CEX, or has L3(Yellow Network) been implemented?** - -[Yellow.com](http://yellow.com) is running NeoDAX™ V3; it uses our liquidity network v1 called XLN. The V4 update is expected in June-July of 2022. - -**❓ When I use** [**Yellow.com**](http://yellow.com) **to deposit ETH, an ETH address is generated on the deposit page. If I deposit ETH to this address, what will happen later? When will the deposit amount appear on the assets page?** - -We advise you to test it yourself at [alpha.yellow.org](https://alpha.yellow.org/). - -**❓ Peatio is a previous generation of CEX software that has not been maintained for 6 years. During your developing process, which features did you keep, which were removed, which were added?** - -We are the core maintainers of Peatio, which we have updated for the last 4 years (v1,2,3.) Currently, we still maintain v3.1—the architecture has completely changed since the old Peatio from 2015. - -### References - -\[1] T. Close, "Nitro Protocol" https://eprint.iacr.org/2019/219.pdf, 2019. \ No newline at end of file diff --git a/docs/legacy/finance/README.md b/docs/legacy/finance/README.md deleted file mode 100644 index 4585987..0000000 --- a/docs/legacy/finance/README.md +++ /dev/null @@ -1,19 +0,0 @@ -# Finance - -Yellow is a mesh network that uses state channels to unify all of the blockchains. This is not a new blockchain. - -It is a financial transaction processing framework built on top of existing blockchains through a Layer-3 concept. - -We use state channel technology to build a metadata index over the liquidity and digital assets over any blockchain, making trading easier. - -The benefit of this approach is a global, localized, and ultra-high-speed consolidation and aggregation of liquidity, smooth order flow and because there is no blockchain there is no typical performance bottleneck. - -The overlay envisions a three fold approach, commonly used in traditional financial markets; - -1\) A _Smart Clearing House_ to independently clear and validate transactions - -2\) Offering _Cross Currency Swaps_ to facilitate liquidity management between brokers - -3\) An _Electronic Communication Network_ for automated order matching on a best effort basis - -The mesh network also supports further decentralization of the crypto asset space, as it will allow small brokers and market makers to operate more efficiently without the use of large centralized exchanges, which often require the custody of assets on their proprietary platform. diff --git a/docs/legacy/finance/fee-calculation-example.md b/docs/legacy/finance/fee-calculation-example.md deleted file mode 100644 index 659736a..0000000 --- a/docs/legacy/finance/fee-calculation-example.md +++ /dev/null @@ -1,48 +0,0 @@ -# Fee Calculation Example - -#### Pre-Defined parameters (Assumptions) - -* Liquidity Fee is charged at the end of each clearing cycle -* Clearing Fee is charged at the end of each clearing cycle -* Liquidity Fee as agreed between Brokers is 0.01% -* Price BTC/USDT = 20,000 -* Price $YELLOW/USDT = 10 -* Transaction; Broker A buys 20 BTC vs. USDT from Broker B -* Agreed Liquidity Fee between Brokers = 0.05% - -**Broker A** - -* Acts as Market Taker and is thus subject to **pay** the Liquidity Fee -* 4 open State Channels = 100 bps Clearing Fee -* Liability Broker A; USDT 200,000 USDT (will have to settle/send USDT to Broker B) - -#### Broker B - -* Acts as Market Taker and is thus entitled to **receive** the Liquidity Fee -* 8 open State Channels = 80bps Clearing Fee -* Liability Broker B; 10 BTC (will have to settle/send BTC to Broker A) - -**Fee Calculation** - -* Liquidity Fee Broker A = 200,000 x 0.05% = 100 USDT -* Clearing Fee Broker A = 200,000 / 10 x 1% = 200 YELLOW -* Clearing Fee Broker B = 10 x 20,000 / 10 x 0.8% = 160 YELLOW - -#### Settlement Amounts - -| Currency | Broker A | Broker B | -| -------- | -------- | -------- | -| BTC | +10 | -10 | -| USDT | -200,100 | +200,100 | - -#### Fee Payment Cash Flow - -| Type | Broker A | Broker B | Period | -| ------------------ | ------------ | ------------ | ------------- | -| Liquidity Fee (L1) | -100 USDT | n/a | On Settlement | -| Clearing Fee (L2) | -200 $YELLOW | -160 $YELLOW | On Settlement | - -Broker A will receive a total of 10 BTC on settlement and paying a total of USDT 200,100. The Yellow Network will receive a total of 360 $YELLOW for the Reserve Vault. - -* The Liquidity Fee is charged automatically to the wallet of Market Taker at clearing. -* the Clearing Fee is automatically charged to the $YELLOW wallet of both Brokers at clearing. diff --git a/docs/legacy/finance/fee-structure/README.md b/docs/legacy/finance/fee-structure/README.md deleted file mode 100644 index 20db345..0000000 --- a/docs/legacy/finance/fee-structure/README.md +++ /dev/null @@ -1,11 +0,0 @@ -# Fee Structure - -The Yellow Clearing House will charge fees and reward participants based on their activity within the Yellow Network. The Yellow Network will not charge fees for profit; all collected fees are either redistributed or used for token liquidity management. - - - -Brokers using the Yellow Network will encounter two fee layers. - -The first layer is a **Liquidity Fee** directly negotiated between the brokers to incentivize market-making and liquidity provisioning within the Yellow Network. - -The second layer is a **Clearing Fee** for both sides of a trade. The clearing fee is sent to the Yellow Reserve Vault that provides treasury and burning functions, supporting the $YELLOW token price and providing our native token a simple yet effective use case. diff --git a/docs/legacy/finance/fee-structure/layer-1-liquidity-fee.md b/docs/legacy/finance/fee-structure/layer-1-liquidity-fee.md deleted file mode 100644 index 305abac..0000000 --- a/docs/legacy/finance/fee-structure/layer-1-liquidity-fee.md +++ /dev/null @@ -1,14 +0,0 @@ -# Layer 1 - Liquidity Fee - -The Liquidity Fee is agreed upon between the brokers when opening a channel. The broker acting as a market maker will set receive the entirety (100%) of the fees paid by the broker acting as a market taker. - -The Liquidity Fee is volume-based, calculated at position opening in % of the base currency of the market taker and added to, or subtracted from, the market taker's liability. - -**Liquidity Fee=Trade Nominal in Liability Ccy x Market Taker Fee (%)** - -Broker Fees are due on settlement, directly charged to the market takers stablecoin wallet and transferred to the market maker. - -**Defined by:** Brokers when they establish a trading channel\ -**Beneficiary:** Market Making Broker\ -**Payment Ccy:** Liability Currency of Trade\ -**Periodicity:** Calculated on every trade and charged on the settlement at 0.00 am UTC diff --git a/docs/legacy/finance/fee-structure/layer-2-clearing-fee.md b/docs/legacy/finance/fee-structure/layer-2-clearing-fee.md deleted file mode 100644 index 55a8dd1..0000000 --- a/docs/legacy/finance/fee-structure/layer-2-clearing-fee.md +++ /dev/null @@ -1,32 +0,0 @@ -# Layer 2 - Clearing Fee - -Fees that are paid from the broker to the Yellow Clearing House. - -A Clearing Fee is due whenever Broker positions are cleared/settled on the Yellow Network. The fee is calculated as % of the settlement liability, converted into $YELLOW, and invoiced to each broker's dedicated $YELLOW spending wallet on settlement. - -* The Clearing Fee is due whenever Broker positions are cleared/settled on the Yellow Network. -* The Clearing Fee is calculated as % of the settlement liability, converted into $YELLOW, and invoiced monthly to each broker's dedicated $YELLOW spending wallet. -* The Clearing Fee Fee is only applied to net cross-broker exchanged volume. -* The Clearing fees are defined by Yellow Clearing House, and 100% of it goes to the Clearing House. -* There are dynamic fee levels with a floor fee that depends on the number of $YELLOW tokens stacked. -* The Clearing Fee is not for profit and funds the Yellow Reserve Vault. - -**Clearing Fee=Net Settlement Liability calculated in $YELLOW x Clearing Fee (%)** - -**Defined by:** Yellow Clearing House\ -**Beneficiary:** Yellow Clearing House\ -**Payment Ccy:** $YELLOW\ -**Periodicity:** Periodicity: Calculated and paid on settlement \ - (min. every 24h, or on a specific settlement request by the Broker) - -| Broker Tier\* | $YELLOW Stacked | Clearing Fee | -| ------------- | --------------- | ------------ | -| 4 channels | 250.000 | 100 bps | -| 8 channels | 500.000 | 80 bps | -| 16 channels | 1.000.000 | 40 bps | -| 32 channels | 2.000.000 | 20 bps | -| 64 channels | 4.000.000 | 10 bps | - -_\*The applicable Broker Tier is defined at the beginning of each clearing cycle. Brokers can not move tiers during a clearing cycle._ - -_Note: All positions are subject to a daily clearing at 0.00 am UCT. Brokers must ensure a sufficient $YELLOW token balance (as outlined in the Risk Management Section) to cover any outstanding Clearing Fees. Failure to meet the clearing fee payment will prevent the Broker from engaging in new positions until the payment for the previous cycle is satisfied._ diff --git a/docs/legacy/finance/smart-clearing-house.md b/docs/legacy/finance/smart-clearing-house.md deleted file mode 100644 index 8c557f5..0000000 --- a/docs/legacy/finance/smart-clearing-house.md +++ /dev/null @@ -1,63 +0,0 @@ -# Smart Clearing House - -### Traditional Clearing House Definition - -A clearing house, in traditional finance terms, is an independent institution formed to facilitate the exchange of securities, commodities, or derivatives. The clearing house stands between two broker firms by taking the opposite side of each party and thus reduces the risk of either party honoring its trade settlement obligations. - -Yellow leverages Layer-2 chains for a clearing house implementation on-chain. - -The clearing house enters the picture after a buyer and a seller execute a trade. Its role is to accomplish the steps that finalize, and therefore validate, the transaction. In acting as a middleman, the clearinghouse provides the security and efficiency that is integral to stability in a financial market. - -A traditional Clearing House is tasked with five crucial roles that add stability, security and transparency to markets; - -#### 1) Clearing & Finalizing Trades - -This is the principal role of the clearinghouse. It means that all trades that the exchange reports are up to the required market standards and that each participating party is able to fulfill their commitment. Once a trade is “cleared” it means the trade is completed. i.e. the buyer has paid for the goods and the seller has delivered the asset. - -#### 2) Settling Trades and Netting Margin Accounts - -Besides its function as an overseeing body the clearinghouse also drastically reduces the number of payments between parties through a process called Netting. Brokers usually commit thousands of transactions a day. Settling each transaction would be a logistical nightmare. Netting allows brokers only to pay for the actual outstanding balance of their trading account. - -#### **3) Margin Accounts & Payments** - -Margin accounts are accounts that the brokers hold with the clearinghouse. The amount required to be held on these accounts is often defined by mathematical formulas that take into consideration the risk of the broker's open positions. The margin amount is the collateral that a broker needs to maintain at all times to ensure his open positions. - -If the broker can’t meet the margin obligation the clearinghouse has a set procedure to either reduce or liquidate the position, called partial or full close-out. - -#### **4) Asset Delivery** - -At the agreed time of exchange, the clearinghouse ensures that the seller delivers the money and the buyer transfers the asset in question. - -If the required margin amount exceeds the balance the clearinghouse will issue a margin call, i.e. a request to top up the account. - -#### **5) Reporting** - -The clearinghouse is also tasked to report all activity to oversee regulators and governing bodies. This facilitates the oversight since controlling entities don’t have to work out the activity of each broker but instead can view the market as a whole. - -It further allows for analytical data such as market depth, flows, trends, and other statistical measures that are important for all market participants. - -### Benefits of a Crypto Clearing House - -Despite the stakeholders in Crypto being slightly different from traditional finance, the introduction of an independent Layer-3 clearinghouse helps to mitigate the problems of; - -_**Market Fragmentation**_ by connecting smaller brokers, market makers, and exchanges cross-chain and cross-network - -_**Market Depth & Liquidity** _ by aggregating liquidity and order flow between all participants - -_**Conflict of Interest**_ whereby many traditional crypto exchanges not only act as a marketplace but at the same time act as market makers, liquidity providers, and custodians. - -Overall the introduction of a dedicated Crypto Clearinghouse will de-risk the existing landscape and open the market for new participants while at the same time comforting regulators. - -**Liquidity aggregation** helps smaller, specialized exchanges and brokers to offer **better pricing** and handle **larger trade volumes**. - -Clients from large exchanges will be able to trade **additional token pairings** for which they otherwise would have to move custodied assets. - -By holding **margin accounts** with the clearinghouse, brokers and exchanges can use **margin netting** to allow for a more **efficient use of capital**. - -This greatly **reduces the risk of overexposure** and helps to **streamline liquidity management** **and capital efficiency**. - -The Clearing House can **accurately report order flow data to regulators** and thus **lower the reporting burden for traders and brokers** while at the same time **increasing the safety and transparency** of the marketplace, as well as helping to **identify and exclude bad actors**. - - - -**Yellow Network brings these functionalities by using cutting-edge state channel technology and settlement via smart contracts.** diff --git a/docs/legacy/finance/yellow-reserve-vault.md b/docs/legacy/finance/yellow-reserve-vault.md deleted file mode 100644 index 17b1966..0000000 --- a/docs/legacy/finance/yellow-reserve-vault.md +++ /dev/null @@ -1,22 +0,0 @@ -# Yellow Treasury Vault - -The **Yellow Treasury Vault** is our treasury entity and is tasked with the following main responsibilities: - -1. **To provide stability for the $YELLOW token** through a buy-back mechanism -2. **Building a diversified currency reserve** to resolve disputes between brokers -3. **Collecting transaction fees** from clearing and trading fees - -## Fee Collection and Buy-Back Mechanism - -Transaction fees are collected from clearing and trading fees and deposited into the Yellow Treasury Vault. The vault implements a **buy-back mechanism of the $YELLOW token to stabilize its value through liquidity provision**. - -$YELLOW Tokens sent to the Treasury Vault will be used to build a diversified portfolio of tokens and coins. Holding a diversified portfolio reduces market risk while at the same time enabling the vault to have a variety of currencies to settle disputes. - -The Treasury Vault can decide to burn $YELLOW under certain conditions to support the valuation of the native Yellow Network token. - -**\*A detailed definition of Yellow Reserve Vault is currently in progress**\* - - - - - diff --git a/docs/legacy/index.md b/docs/legacy/index.md deleted file mode 100644 index 4946df7..0000000 --- a/docs/legacy/index.md +++ /dev/null @@ -1,21 +0,0 @@ ---- -title: Legacy Documentation -description: Legacy Yellow Network documentation and resources -displayed_sidebar: legacySidebar -sidebar_position: 1 ---- - -# Legacy Documentation - -This section contains legacy Yellow Network documentation that is no longer actively maintained but preserved for reference. - -Welcome to the legacy documentation for Yellow Network. This section contains information about previous versions, architecture, and concepts related to the project. - -Please note that some of this information may be outdated. For the most current documentation, please refer to the main sections of this site. - -## Key Sections - -- **[About](./about/summary.md):** Get a summary of what Yellow Network aimed to solve. -- **[Architecture](./architecture/README.md):** Dive into the technical design and components of the legacy system. -- **[Business](./business/README.md):** Understand the business model and market evaluation from the past. -- **[Finance](./finance/README.md):** Learn about the financial concepts, including the fee structure and clearing house model. diff --git a/docs/legacy/resources/communications-and-marketing.md b/docs/legacy/resources/communications-and-marketing.md deleted file mode 100644 index daa40ac..0000000 --- a/docs/legacy/resources/communications-and-marketing.md +++ /dev/null @@ -1,29 +0,0 @@ ---- -description: Learn more about Yellow Network and Yellow ecosystem ---- - -# 🗣️ Communications & Marketing - -:::info -Yellow Network is a project in development. The data presented in the following (sub)sections might not be up to date. The current, and all subsequent sub-pages, are subject to change. -::: - -## The Yellow Network Blog - -Keep up to date with the latest developments of Yellow Network, educational content, news breakdowns, industry research, and other blockchain-related readings via our official [Medium.com](https://medium.com/yellow-blog) publications page. - -Read our Blogposts on [Medium.com](https://medium.com/yellow-blog) - -### Yellow Network Media Kit - -[Yellow Network Media Kit](https://drive.google.com/file/d/1o9RxdTMbeiJhIhsrpa7CzTg4MrmXpD0g/view?usp=share_link) - -**Logo files, project description, photos:** [https://drive.google.com/drive/folders/1U1revrTuIX4dmTRl4uvwU1uluFKzRvPV?usp=share\_link](https://drive.google.com/drive/folders/1U1revrTuIX4dmTRl4uvwU1uluFKzRvPV?usp=share_link) - -### Live Twitter Feed :red\_circle: - -Follow us on [Twitter](https://twitter.com/Yellow) - -## Contact Us - -For any questions and community-related inquiries, please reach out to us via our [Social Media.](#) diff --git a/docs/legacy/resources/duckies/duckies-one-pager.md b/docs/legacy/resources/duckies/duckies-one-pager.md deleted file mode 100644 index 0c03cbc..0000000 --- a/docs/legacy/resources/duckies/duckies-one-pager.md +++ /dev/null @@ -1,3 +0,0 @@ -# 📃 Duckies One-Pager - -[Download Duckies Whitepaper English.pdf](/assets/Duckies%20Whitepaper%20English.pdf) diff --git a/docs/legacy/resources/duckies/ducklings-game.md b/docs/legacy/resources/duckies/ducklings-game.md deleted file mode 100644 index 5f0e584..0000000 --- a/docs/legacy/resources/duckies/ducklings-game.md +++ /dev/null @@ -1,84 +0,0 @@ ---- -description: An NFT-based Card Trading Game ---- - -# 🦆 Ducklings Game - -*[Image placeholder: Ducklings Game header image]* - -Welcome to the wacky world of Ducklings Trading Card Game, a blockchain-based NFT collectible game! You'll embark on a journey as a duckling breeder to collect and meld Ducklings NFT cards. You'll encounter the eccentric and mad scientist, Dr. Quackers, who has taken over the game with his expertise in genetic engineering. - -Dr. Quackers has created a laboratory and is mixing (melding) Ducklings left and right to get as many Mythic breeds so he can dominate the duckies’ world! Outsmart Dr. Quakers with your own Ducklings collection to not let him win! But be careful when melding, as it can go wrong and the duck will become Zombeak, a duckie-mutant! - -*[Image placeholder: Dr. Quackers laboratory diagram]* - -## Types and Rarities of Dr. Quacker’s Creations - -Your objective is to get ahead of Dr. Quackers and create the ultimate Mythic Duckling species before he can. To do so, you must collect as many Legendary Ducklings as possible and meld them to create new and powerful Mythics. Melding cards requires careful planning, as the input cards are destroyed and a new card is created. - -Be wary of failed melding attempts, as they'll result in the creation of special cards called Zombeaks that form their own collection. - -To start your duckling breeding journey, you can get **Ducklings Booster Packs** containing 1, 5, 10, 25, or 50 cards. - -## **Ducklings Booster Pack** - -****Rarity probability distribution per booster pack: 85% common, 12% rare, 2.5% epic, and 0.5% legendary.**** - -## Melding Ducklings - -Each Duckling card belongs to a family and a color; and there are 5 different families (Flockers, Feathers, Waddlers, Mallards, and Fluffers) and 4 different colors (Red, Blue, Green, and Purple) in total, each with an even distribution. - -*[Image placeholder: Duckling families and colors diagram]* - -But don't worry if you can't find the Duckling you're looking for, you can earn $DUCKIES tokens by completing community quests and using them to purchase more cards. - -1. In order to meld common Ducklings, you'll need to meld five cards of the same rarity level, color, or family to create a superior card of the next rarity level. Melding costs vary depending on the rarity level, ranging from 100 $DUCKIES for common cards to 1000 $DUCKIES for legendary cards. -2. The melding function allows the player to place 5 cards of the same rarity level and meld them into one card of superior rarity. You can meld Common cards into Rare, Rare cards into Epic, Epic cards into Legendary, and Legendary into Mythic. - -_Melding requirements differ based on the Ducklings’ rarity level:_ - -****Melding Common Ducklings:**** Same color ****OR**** same family;\ -****Melding Rare or Epic Ducklings:**** Same color ****AND**** same family;\ -****Melding Legendary Ducklings:**** Same color ****AND**** each family. - -_**During the melding, the input cards are destroyed, and a new card is created.**_ You can meld the resulting cards further to get a higher rarity. - -## MYTHIC: Dr. Quaker's Masterpiece - -You had 5 legendaries, all with the same color and different families? It is now time to meld them, and the laboratory will bore the ultimate masterpiece, the **MYTHIC**!! - -As a Mythic NFT holder, you'll be ranked based on the rarity of your Mythic NFT (1-60), with higher ranks giving you access to exclusive benefits such as yields of our native token, $DUCKIES, as well as $YELLOW, and other partner tokens. But it's not just about the rewards—owning a Mythic NFT is a mark of distinction and status within our community. - -Mythic NFTs also have a place in our official Ambassador Program. You'll gain even more perks, including early access to new features and products, the chance to participate in our expansion strategies, and access to private sales that are not available to everyone. - -1. Access to expansion strategies; -2. Benefits in $YELLOW and $DUCKIES & partner tokens; -3. Exclusive early access rights; -4. Access to our private sales; -5. Higher place in the Ambassador program, higher additional rewards. - -Now is the time to mint and meld Ducklings, bring the ultimate reward ‘’Mythics’’ to space, and earn the benefits of them as a unique Mythic holder!\ - - -## Zombeaks: Duckie-Mutants - -If a melding attempt fails, the player receives a neutral card called a Zombeak. - -Zombeaks cannot be used for further melding with other cards; however, they form a unique collection and can be melded between each other to create a rarer Zombeak! - -* When melding Common cards, there is a 15% probability of getting a Zombeak. -* When melding Rare cards, there is a 10% probability of getting a Zombeak. -* When melding Epic cards, there is a 5% probability of getting a Zombeak. -* When melding Legendary cards, there is a 1% probability of getting a Zombeak. - -Just as nature fails sometimes, your meld can fail as well as there is nothing you can do apart from accepting this fact and melding mutants between each other to create an even rarer breed of them 🙂 - -Are you ready to dive into this WACKY world of duck breeding and create new and exciting breeds of Ducklings? Start today and see what kind of amazing creations you can come up with. Get ready to dive in and see what kind of creations you can come up with! - -### Download the rules guide: - -[Download Official Duckies NFT Game Rules.pdf](/assets/Official%20Duckies%20NFT%20Game%20Rules.pdf) - -## Duckies Media Kit - -**Logos, images, project details:** [https://drive.google.com/drive/u/0/folders/1xXloVv8L\_JtOyYsiGkaPIBkdAnbwSJlx](https://drive.google.com/drive/u/0/folders/1xXloVv8L_JtOyYsiGkaPIBkdAnbwSJlx) diff --git a/docs/legacy/resources/legal/audit-and-kyc.md b/docs/legacy/resources/legal/audit-and-kyc.md deleted file mode 100644 index c5c4fa3..0000000 --- a/docs/legacy/resources/legal/audit-and-kyc.md +++ /dev/null @@ -1,20 +0,0 @@ -# 🔐 Audit & KYC - -:::info -Yellow Network is a project in development. Not all solutions presented in the following (sub)sections are implemented at this stage. The current, and all subsequent sub-pages, are subject to change. - -For more information, visit the [Roadmap.](../../about/roadmap.md) -Audit & KYC is currently in progress and the results will be published soon. -::: - -### [Hacken Security Audit \[March 2, 2023\]](https://hacken.io/audits/yellownetwork/) - -**Score:** 10/10 - -**Languages:** Solidity - -#### Report: - -[Download Yellow Network Audit 2323.pdf](/assets/Yellow%20Network%20Audit%202323.pdf) - -_**More audits will be published closer to TGE.**_ diff --git a/docs/legacy/resources/legal/general-t-and-c.md b/docs/legacy/resources/legal/general-t-and-c.md deleted file mode 100644 index ff57059..0000000 --- a/docs/legacy/resources/legal/general-t-and-c.md +++ /dev/null @@ -1,283 +0,0 @@ ---- -description: 'General Terms & Conditions of Yellow Network. Last revised: Nov 18, 2022' ---- - -# 📝 General T&C - -:::info -Yellow Network is a project in development. Not all solutions presented in the following (sub)sections are implemented at this stage. The current, and all subsequent sub-pages, are subject to change. - -For more information, visit the [Roadmap](../../about/roadmap.md) - -For Terms and Conditions specific to $YELLOW tokens, please refer to the dedicated section - [$YELLOW T\&C](usdyellow-t-and-c.md) -::: - -These Terms of Service are entered into between you (hereinafter referred to as “**you**” or “**your**”) and Layer3 Fintech Ltd. (as defined below). - -By accessing, downloading, using or clicking on “I agree” to accept any Layer3 Fintech Ltd. Services (as defined below) provided by Layer3 Fintech Ltd. (as defined below), you agree that you have read, understood and accepted all of the terms and conditions stipulated in these Terms of Service (hereinafter referred to as “**these Terms**” or “**Terms**”) as well as our [Privacy Policy](privacy-policy.md). In addition, when using some features of the Layer3 Fintech Ltd. Services, you may be subject to specific additional terms and conditions applicable to those features. - -**IF YOU DO NOT AGREE WITH THESE TERMS OF SERVICE, DO NOT ACCESS LAYER3 FINTECH LTD.'s ASSOCIATED WEBSITES OR USE LAYER3 FINTECH LTD. SERVICES.** - -In the event of any inconsistency between these Terms and any other pages, policies, terms, conditions, licenses, limitations, or obligations contained within or on the Website, these Terms shall prevail. - -The Layer3 Fintech Ltd. Services are complex and carry a high level of risk and are not appropriate for users who do not possess the appropriate level of knowledge and experience to deal with them. Layer3 Fintech Ltd. is under no obligation to assess the suitability of the Services for users and any comment or statement which may be made by Layer3 Fintech Ltd. or any of its Associates as to the suitability of the Services to you should under no circumstances be considered as investment or legal advice and should not be received or relied upon as such. - -**BY MAKING USE OF LAYER3 FINTECH LTD. SERVICES, YOU ACKNOWLEDGE AND AGREE THAT (I) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTIONS OF DIGITAL ASSETS; (II) YOU SHALL ASSUME ALL RISKS RELATED TO THE USE OF LAYER3 FINTECH LTD. SERVICES AND TRANSACTIONS OF DIGITAL ASSETS; AND (III) LAYER3 FINTECH LTD. SHALL NOT BE LIABLE FOR ANY SUCH RISKS OR ADVERSE OUTCOMES.** - -These Terms may be amended, changed, modified or updated by Layer3 Fintech Ltd. at any time and without prior notice to you. You should check back as often as possible ON THIS PAGE to confirm that your copy and understanding of these Terms are current and correct. Your non-termination or continued access to the Website and/or use of any Services after the effective date of any amendments, changes, or updates constitutes your acceptance of these Terms, as modified by such amendments, changes, or updates. - -**1. Definitions** \ -In these Terms and all documents incorporated herein by reference, the following words have the following meanings unless otherwise indicated: - -1.1 “**Affiliates**” means any Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, you or Layer3 Fintech Ltd., and for purposes of this definition “control” (including, with correlative meanings, the terms, “controlled by” and “under common control with”), as used with respect to you or Layer3 Fintech Ltd., means the possession, directly or indirectly, of the power to direct or cause the direction of this management or policies of you or Layer3 Fintech Ltd., whether through the ownership of voting securities, by contract or otherwise; - -1.2 “**AML**” means anti-money laundering, including, but not limited to, all Laws applicable to the Parties prohibiting money laundering or any acts or attempted acts to conceal or disguise the identity or origin of; change the form of; or move, transfer, or transport, illicit proceeds, property, funds, Fiat Currencies, or Digital Assets; - -1.3 “**Anti-Corruption**” means all Laws applicable to each Party prohibiting corruption or bribery, kickbacks, inducements, and other related forms of commercial corruption or bribery; - -1.4 “**Associates**” means Layer3 Fintech Ltd. and each and every one of its shareholders, directors, officers, affiliates, employees, contractors, agents, partners, insurers, and attorneys who are acting or performing or have acted or performed services for the benefit of or on behalf of the Website; - -1.5 “**Copyrights**” means all materials are used by Layer3 Fintech Ltd. under license. These materials include, but are not limited to, all the text, graphics, user interfaces, visual interfaces, photos, sounds, process flow diagrams, computer code (including HTML code), programs, software, products, information and documents, as well as the design, structure, selection, coordination, expression, look and feel, and layout of any content included in the services or provided through Layer3 Fintech Ltd. Services, are exclusively owned, controlled and/or licensed by Layer3 Fintech Ltd. or its members, parent companies, licensors or affiliates; - -1.6 “**CTF**” means counter-terrorist financing; - -1.7 “**Digital Assets**” means a digital representation of value that functions as (i) a medium of exchange; (ii) a unit of account; (iii) a store of value; (iv) other similar digital representations of rights or assets, typically including blockchain-based assets or rights including tokens, sovereign cryptocurrency or virtual currency such as Bitcoin, Ether or Litecoin, and/or (v) their derivatives or other types of digitalized assets with a certain value; - -1.8 “**Digital Assets Address**” means an alphanumeric identifier that represents a potential destination for a Digital Assets transfer, which typically is associated with a user’s Digital Assets Wallet; - -1.9 “**Digital Assets Wallet**” means a software application, or other mechanisms, that provide a means for holding, storing, and transferring Digital Assets, including a user’s Digital Assets Address, Digital Assets balance, and cryptographic keys; - -1.10 “**Economic Sanctions**” means financial sanctions, trade embargoes, export or import controls, anti-boycott, and restrictive trade measures enacted, administered, enforced, or penalized by any Laws applicable to you or the Website; - -1.11 “**Fiat Currencies**” means the money or currency of any country or jurisdiction that is (i) designated as legal tender; and, (ii) circulated, customarily used, and accepted as a medium of exchange in the country or jurisdiction of issuance; - -1.12 “**Government**” means any national, federal, state, municipal, local, or foreign branch of government, including, but not limited to, any department, agency, subdivision, bureau, commission, court, tribunal, arbitral body, or other governmental, government-appointed, or quasi-governmental authority or component exercising executive, legislative, juridical, regulatory, or administrative powers, authority, or functions of or pertaining to a government instrumentality; - -1.13 “**Government Approval**” means any authorization, license, permit, consent, approval, franchise, concession, lease, ruling, certification, exemption, exception, or waiver by or with any Government necessary to conduct the business of either Party or the execution, delivery and performance of the Services or any transaction entered into under these Terms; - -1.14 “**Government Official**” means an officer or employee of any Government, a director, officer, or employee of any instrumentality of any Government, a candidate for public office, a political party or political party official, an officer or employee of a public international organization, and any person who is acting in an official capacity for any of the foregoing, even if such Person is acting in that capacity temporarily and without compensation; - -1.15 “**KYC**” means the “know-your-customer” process that Layer3 Fintech Ltd. has put in place before entering into a business relationship or conducting transactions with you. As part of this process, Layer3 Fintech Ltd. may do anything that it deems necessary in order to identify you, verify your identity, scrutinize and investigate your transactions, or comply with any applicable law or regulation. - -1.16 “**Laws**” means all laws, statutes, orders, regulations, rules, treaties, and/or official obligations or requirements enacted, promulgated, issued, ratified, enforced, or administered by any Government that apply to you or the Website; - -1.17 “**Losses**” means, collectively, any claim, application, loss, injury, delay, accident, cost, business interruption costs, or any other expenses, including, but not limited to, any incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, or any and all other commercial losses; - -1.18 “**Marks**” means the trademarks, service marks, and trade names, including, but not limited to, both word marks and design marks of Layer3 Fintech Ltd. and/or Layer3 Fintech Ltd. Services; - -1.19 “**Person**” includes an individual, association, partnership, corporation, company, other body corporate, trust, estate, and any form of organization, group, or entity; - -1.20 “**Personal Data**” has the meaning set out in the [Privacy Policy;](privacy-policy.md) - -1.21 “**Prohibited Jurisdiction**” means (i) any jurisdiction in which the entry into this Term of Services and/or the usage of the Services are prohibited by applicable Law; (ii) any jurisdiction which is subject to United States, United Nations or other applicable Economic Sanctions or embargoes; - -1.22 “**Prohibited Person**” means any citizen or resident of, Government or Government Official of, or Person in or subject to the jurisdiction of, any Prohibited Jurisdiction; and any Sanctioned Person; - -1.23 “**Sanctions List**” means the “[Specially Designated Nationals and Blocked Persons](https://home.treasury.gov/policy-issues/financial-sanctions/specially-designated-nationals-and-blocked-persons-list-sdn-human-readable-lists)” List and the other lists, including, but not limited to, the “[Sectoral Sanctions Identifications List](https://home.treasury.gov/policy-issues/financial-sanctions/consolidated-sanctions-list-non-sdn-lists/sectoral-sanctions-identifications-ssi-list)”, published by the Office of Foreign Assets Control of the U.S. Department of the Treasury; the [Section 311 Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern](https://www.fincen.gov/resources/statutes-and-regulations/311-special-measures) published by Financial Crimes Enforcement Network of the U.S. Department of the Treasury; any other foreign terrorist organization or other sanctioned, restricted, or debarred party list published under Economic Sanctions, AML, or CTF Laws of or by Governments of the United States, the United Kingdom, or the United Nations; - -1.24 “**Sanctioned Person**” means any Person or Digital Assets Address that is: (i) specifically listed in any Sanctions List; (ii) directly or indirectly owned 50 percent or more by any Person or group of Persons in the aggregate, or a Digital Assets Wallet associated with such Person or Persons, referred to in any Sanctions List, or Government or Government Official of any Prohibited Jurisdiction; or (iii) that is subject to any Government Approval or otherwise sanctioned, restricted, or penalized under applicable Laws; - -1.25 “**User Submissions**” means any member profile pages, forums, groups, and other interactive features that allow users to post, submit, publish, display, or transmit to other users’ content or materials. - -1.26 “**Website**” means Layer3 Fintech Ltd.'s associated websites (whose domain names include but are not limited to [https://yellow.org](https://yellow.org)) - -1.27 “**Layer3 Fintech Ltd.**” or “**Operator**” means any Person that runs Layer3 Fintech Ltd. Services, including but not limited to legal persons, unincorporated organizations and teams that provide Layer3 Fintech Ltd. Services and are responsible for such services. For convenience, unless otherwise stated, references to " Layer3 Fintech Ltd.", "Operator" and “we” in these Terms specifically mean Layer3 Fintech Ltd. UNDER THESE TERMS, LAYER3 FINTECH LTD. OPERATORS MAY CHANGE AS LAYER3 FINTECH LTD.’S BUSINESS ADJUSTS, IN WHICH CASE, THE CHANGED OPERATORS SHALL PERFORM THEIR OBLIGATIONS UNDER THESE TERMS WITH YOU AND PROVIDE SERVICES TO YOU, AND SUCH CHANGE DOES NOT AFFECT YOUR RIGHTS AND INTERESTS UNDER THESE TERMS. ADDITIONALLY, THE SCOPE OF LAYER3 FINTECH LTD. OPERATORS MAY BE EXPANDED DUE TO THE PROVISION OF NEW LAYER3 FINTECH LTD. SERVICES, IN WHICH CASE, IF YOU CONTINUE TO USE LAYER3 FINTECH LTD. SERVICES, IT IS DEEMED THAT YOU HAVE AGREED TO JOINTLY EXECUTE THESE TERMS WITH THE NEWLY ADDED LAYER3 FINTECH LTD. OPERATORS. IN CASE OF A DISPUTE, YOU SHALL DETERMINE THE ENTITIES BY WHICH THESE TERMS ARE PERFORMED WITH YOU AND THE COUNTERPARTIES OF THE DISPUTE, DEPENDING ON THE SPECIFIC SERVICES YOU USE AND THE PARTICULAR ACTIONS THAT AFFECT YOUR RIGHTS OR INTERESTS. - -1.28 “**Layer3 Fintech Ltd. Services**” means various services provided to you by Layer3 Fintech Ltd. that are based on Internet and/or blockchain technologies and offered via Website, mobile applications, desktop clients and other forms (including new ones enabled by future technological development). Layer3 Fintech Ltd. Services include but are not limited to such Yellow ecosystem components as the Yellow Network, the Global Exchange Platform and novel services to be provided by Layer3 Fintech Ltd. and/or Yellow. - -**2. General Provisions** - -2.1 **Legal Agreement**. These Terms constitute a legal agreement and create a binding contract between you and Layer3 Fintech Ltd. - -2.2 **Additional Terms**. Due to the rapid development of Digital Assets and Layer3 Fintech Ltd., these Terms between you and Layer3 Fintech Ltd. do not enumerate or cover all rights and obligations of each party and do not guarantee full alignment with needs arising from future development. Therefore, THE PRIVACY POLICY AND ALL OTHER AGREEMENTS ENTERED INTO SEPARATELY BETWEEN YOU AND LAYER3 FINTECH LTD. ARE DEEMED ADDITIONAL TERMS THAT ARE AN INTEGRAL PART OF THESE TERMS AND SHALL HAVE THE SAME LEGAL EFFECT. YOUR USE OF LAYER3 FINTECH LTD. SERVICES IS DEEMED YOUR ACCEPTANCE OF THE ABOVE ADDITIONAL TERMS. - -2.3 **Right to Amend, Change, Modify or Update these Terms**. Layer3 Fintech Ltd. reserves the right to amend, change, modify or update these Terms at our sole discretion at any time. You may be notified of such changes on the Website or via email, but you shall check the date displayed on the \[Last revised] date on the title of these Terms. ANY AND ALL AMENDMENTS, CHANGES, MODIFICATIONS OR UPDATES TO THESE TERMS WILL BECOME EFFECTIVE UPON PUBLICATION ON THE WEBSITE OR RELEASE TO USERS. THEREFORE, YOUR CONTINUED USE OF LAYER3 FINTECH LTD. SERVICES IS DEEMED YOUR ACCEPTANCE OF THE MODIFIED AGREEMENT AND RULES. IF YOU DO NOT AGREE TO ANY AMENDMENTS, CHANGES, MODIFICATIONS OR UPDATES TO THESE TERMS, YOU MUST STOP USING LAYER3 FINTECH LTD. SERVICES IMMEDIATELY. YOU ARE RECOMMENDED TO REVIEW THESE TERMS AS OFTEN AS POSSIBLE TO ENSURE YOUR UNDERSTANDING OF THE TERMS AND CONDITIONS THAT APPLY TO YOUR ACCESS TO AND USE OF LAYER3 FINTECH LTD. SERVICES. - -**3. Use of the Website and the Services.** - -3.1 **Right to Use the Website and the Services**. If you (a) have a Digital Assets Wallet, (b) are not a Prohibited Person, (c) do not operate your Digital Assets Wallet for the benefit of a Prohibited Person and (d) comply with these Terms, Layer3 Fintech Ltd. grants you the limited right to use the Services. The right to use the Services is a personal, restricted, non-exclusive, non-transferable, non-sublicensable, revocable, limited license, and it is subject to the limitations and obligations in these Terms of Service. Nothing in these Terms of Service gives you any license (other than as set out in this paragraph), right, title, or ownership of, in, or to the Website, any of the Services, the Copyrights or the Marks. Layer3 Fintech Ltd. may suspend or terminate the provision of Services to you, your Digital Assets, Digital Assets Wallet, or to any of your Digital Assets Address, or to freeze or terminate your Digital Assets Wallet, at its sole discretion, as required by applicable Laws or where Layer3 Fintech Ltd. determines that you have violated, breached, or acted inconsistently with any of these Terms of Service. - -3.2 **Prohibited Use of the Website and the Services**. You are strictly prohibited to - -a) use the Website or any of the Services if you are a Prohibited Person. - -b) operate Digital Assets Wallet for and make orders or transactions in a Digital Assets Wallet for the financial or other benefits of a Prohibited Person. - -c) use the Website or any of the Services in order to disguise the origin or nature of illicit proceeds of, or to further, any breach of applicable Laws, or to transact or deal in, any contraband Digital Assets, Fiat Currencies, funds, property, or proceeds. - -d) use the Website or any of the Services if any applicable Laws, including, but not limited to, AML Laws, CTF Laws, Anti-Corruption Laws and Economic Sanctions Laws, prohibit, penalize, sanction, or expose the Operator to liability for any Services furnished or offered to you or your Digital Assets Wallet(s) or Digital Assets Address(es) under these Terms of Service. - -e) use the Website or any of the Services, or any financial services of a U.S. Financial Institution, whether or not an Associate of the Operator, to facilitate, approve, evade, avoid, or circumvent any applicable Laws, including, but not limited to, AML Laws, CTF Laws, Anti-Corruption Laws, and Economic Sanctions Laws. - -f) use the Website or any of the Services to evade taxes under the Laws of the British Virgin Islands or any other jurisdiction(s) applicable to you or the Website. - -g) trade on the Website or use any Services, with anything other than Fiat Currencies, keys, property, or Digital Assets that have been legally obtained by you and that belong to you. - -h) use the Website or any Services to interfere with or subvert the rights or obligations of the Operator or the rights or obligations of any other Website user or any other Person. - -i) post, submit, publish, display, or transmit any User Submission that violates the Terms of Service or the rights of any Person, including, but not limited to, the intellectual property rights of any Person. - -j) trade using misleading or inaccurate information presented to the Website or to the Operator or take advantage of any technical glitch, malfunction, failure, delay, default, or security breach. - -k) use the Website or any Services to engage in conduct that is detrimental to the Operator or to any other Website user or any other Person. - -l) use the Website or any Services to: (i) engage or attempt to engage in wash trading, spoofing, fictitious trading or price manipulation; (ii) enter orders or quotes with the intent to disrupt, or with reckless disregard for the adverse impact on, the orderly conduct of trading or the fair execution of transactions; or (iii) enter orders or quotes in the Website or any Digital Token market with the intent of creating the false impression of market depth or market interest. - -m) falsify any Digital Assets Wallet, Digital Assets Address, Website registration, exchange, or administration details provided to the Operator or any of its Associates, impersonate another person or misrepresent your affiliation with a person. - -n) post, submit, publish, display, or transmit any User Submission that is likely to deceive any Person. - -o) falsify or materially omit any information or provide misleading or inaccurate information requested by the Operator or any of its Associates, including, but not limited to, at Website registration or during the course of administering any Services to you. - -p) cause injury to, or attempt to harm, the Operator, any of its Associates or any person through your access to the Website or any Services, including, but not limited to, posting, submitting, publishing, displaying, or transmitting any User Submission that is defamatory, obscene, indecent, abusive, offensive, harassing, violent, hateful, inflammatory, or otherwise objectionable. - -q) promote discrimination based on race, religion, nationality, disability, sexual orientation, gender or gender identity, or age. - -r) give the impression that a User Submission emanates from or is endorsed by the Operator or its Associates or any other Person if that is not the case. - -s) have more than one registered identity on the Website, or use any Digital Assets Wallet on a one-time, "throwaway" basis; any such additional Digital Assets Wallets or one-time "throwaway" Digital Assets Wallet may be frozen, terminated or suspended at the absolute discretion of the Operator. - -t) where you are subject to prohibitions or restrictions as set forth in these Terms, access the Website or use any Services utilizing any virtual private network, proxy service, or any other third-party service, network, or product with the effect of disguising your IP address or location, or access the Website or use any Services using a Digital Assets Address in or subject to the jurisdiction of any Prohibited Jurisdiction or Government or Government Official thereof. - -u) post, submit, publish, display, or transmit any advertising or promotional material without the prior written consent of the Operator or its Affiliate. - -v) utilize a Digital Assets Wallet, any Services or the Website for the financial or other benefits of a Prohibited Person; or - -w) violate, promote, cause a violation of, or conspire or attempt to violate these Terms of Service or applicable Laws. - -Any use as described in this paragraph shall constitute a “**Prohibited Use**”. If Layer3 Fintech Ltd. determines or suspects that you have engaged in any Prohibited Use, Layer3 Fintech Ltd. may address such Prohibited Use through an appropriate sanction, in its sole and absolute discretion. Such sanction may include, but is not limited to, removing or declining to post any User Submissions you provide, making a report to any Government, law enforcement, or other authorities, without providing any notice of you about any such report; confiscation of any Fiat Currencies, property, proceeds, or Digital Assets in any Digital Assets Wallet that you have on the Website; and, suspending or terminating your access to any Services or Fiat Currencies, property, or Digital Assets from any Digital Assets Address or Digital Assets Wallet. The Operator may, at its sole and absolute discretion, seize and deliver your property to any applicable Government, law enforcement, or other authorities where circumstances warrant. In addition, should your actions or inaction result in Loss being suffered by the Operator or any of its Associates, you shall pay an amount to the Operator or the Associate so as to render the Operator or the Associate whole, including, but not limited to, the amount of taxes or penalties that might be imposed on the Operator or the Associate. - -3.3 **Trading Activities**. The Website is a trading environment for the purchase and sale of Digital Assets. Purchases are fully funded by trading participants through Fiat Currencies deposited by you from a Digital Assets Address or otherwise into a Digital Assets Wallet. Purchases and sales of Digital Assets Wallet on the Website are settled by actual delivery of the full amount of the Digital Assets by the seller to the purchaser’s Digital Assets Wallet against payment in full by the purchaser to the seller’s Digital Assets Wallet. - -3.4 **Withdrawals and Deposits**. In the course of processing and sending any withdrawals in Fiat Currencies or one or more Digital Assets, or when processing and receiving deposits, Digital Assets Wallet, the Operator may be required to share your user information with other contractual parties, including, but not limited to, financial institutions, or as required under applicable Laws or demanded upon a lawful request by any Government. You hereby irrevocably grant full permission and authority for the Operator to share this information with such contractual third parties, or as required under applicable Laws or demanded upon a lawful request by any Government, and release the Operator from any liability, error, mistake, or negligence related thereto. - -3.5 **Fees and Collaterals**. You may be obliged to pay appropriate trading fees in forms and amounts determined by Layer3 Fintech Ltd. to provide trading activities, access the Website, or use the Services. Also, you may be required to put up collaterals in forms and amounts determined by Layer3 Fintech Ltd. to provide trading activities or use the Services. - -3.6 **Third-Party Services**. The Operator and its Affiliates contract with Persons to provide certain data, information, insights, analysis, and articles that are made available through the Website and the Services, and may also provide links to third-party websites or services that are not under the control of the Operator or its Associates (such information and services collectively, “**Third-Party Services”.**) In addition to the Terms of Service, you may be bound by any additional terms required by providers of Third-Party Services. The Operator and its Associates make no representations about and accept no liability for, any Third-Party Services. The Operator and its Associates are not responsible for the accuracy or reliability of any information, data, opinions, advice, or statements contained in Third-Party Services, the services offered thereby or for their privacy and security policies and procedures. - -**4. Your Eligibility to Use the Website and the Services** - -4.1 **Your Representations and Warranties** \ -You represent and warrant to the Operator on the date of your acceptance or deemed acceptance of these Terms and each day on which you access the Website and/or utilize the Services, in each case with reference to the facts and circumstances existing at such date, as follows: - -a) that, if you are an individual user, you are 21 years of age or older and that you have the capacity to contract under applicable Laws. - -b) that, if you are registering to use or using the Website on behalf of a legal entity, (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (ii) you are duly authorized by such legal entity to act on its behalf. - -c) that you understand the risks associated with using the Website, that you are not prohibited or restricted from using the Website by these Terms, that you are not otherwise prohibited by applicable Laws from using the Website and that you have had the opportunity to seek legal, accounting, taxation and other professional advice regarding these Terms of Service and the Services; - -d) that you will not use the Website or any Services in order to conceal or disguise the origin or nature of proceeds of crime or terrorist financing, or to further, any breach of applicable AML Laws or CTF Laws, or to deal in any unlawful Digital Assets, Fiat Currencies, property, funds, or proceeds; - -e) that you will not trade or otherwise transact on the Website or use any Services with anything other than Fiat Currencies, or Digital Assets that have been legally obtained by you and that belong to you; - -f) that you are currently in compliance with, and must, at your own cost and expense, comply with all Laws that relate to or affect the Services conducted under these Terms of Service; - -g) that you consent to any and all tax and information reporting under AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, Tax Information Exchange Laws or other tax Laws as the Operator may reasonably determine; - -h) that neither you nor any of your Affiliates shall use any Digital Assets, Fiat Currencies, property, proceeds or funds subject to the Services of the Website directly or indirectly (i) on behalf of or for the benefit of a Prohibited Person or any Person subject to the jurisdiction of a Prohibited Jurisdiction, except where authorized under any Government Approval or not restricted by applicable Laws; (ii) in violation of or as prohibited, restricted, or penalized under applicable Economic Sanctions Laws; or (iii) in any way that would violate, be inconsistent with, penalized under, or cause the omission of filing of any report required under applicable AML Laws, CTF Laws, or Economic Sanctions Laws; - -i) that you have not (i) violated; (ii) been fined, debarred, sanctioned, the subject of Economic Sanctions-related restrictions, or otherwise penalized under; (iii) received any oral or written notice from any Government concerning actual or possible violation by you under; or (iv) received any other report that you are the subject or target of sanctions, restrictions, penalties, or enforcement action or investigation under, any applicable Laws, including, but not limited to, AML Laws, CTF Laws, Anti-Corruption Laws, or Economic Sanctions Laws; - -j) that neither you nor any of your Affiliates are (i) itself or owned (beneficially or of record) or controlled by a Sanctioned Person; (ii) involved in any transaction, transfer, or conduct, whether or not by using or receiving the Services from any Digital Assets Wallet or Digital Assets Address, that is likely to result in you or your Associates becoming a Sanctioned Person; (iii) residing or domiciled in, or transferring Digital Assets, Fiat Currencies, funds, or property to, from, or through any Digital Assets Wallet, or Digital Assets Address, or engaging in any transaction on the Website from a Prohibited Jurisdiction; or (iv) a Government or Government Official of a Prohibited Jurisdiction; - -k) that neither you nor any of your Associates have directly or indirectly offered, promised, given, or authorized any payment, or offered, promised, given, or authorized the giving of anything else of value, including, but not limited to, any Digital Assets or Fiat Currencies, to a Government Official or individual employed by another entity in the private sector in violation of any applicable Anti-Corruption Laws; - -l) that you will not falsify any Digital Assets Wallet or registration or administration details provided to the Operator; - -m) that you will not falsify or materially omit any information or provide misleading or inaccurate information requested by the Operator in the course of, directly or indirectly relating to, or arising from your activities on the Website or use of any Services, including, but not limited to, at registration or during administration or other due diligence processes, and that if any information provided to the Operator becomes incorrect or outdated, including, but not limited to, information relating to your beneficial ownership, you will promptly provide corrected information to the Operator; - -n) that you shall employ reasonable anti-virus, anti-malware and other software and techniques to protect you and your Digital Assets Wallet from being the victim of a hack or of other malicious actions, so as to protect the integrity of your Digital Assets Wallet and to keep such Digital Assets Wallet and the access to the Website out of the reach of other Persons; - -o) that you acknowledge and agree that Fiat Currencies, Digital Assets or other property reflected in your Digital Assets Wallet are not segregated assets held in your name or for your benefit but reflected only in the books and records of the Operator; - -p) that you acknowledge and agree that any trading or other instructions received or undertaken through your login credentials or from your authorized email address on file with the Operator are deemed to be valid, binding, and conclusive, and that the Operator may act upon those instructions without any liability or responsibility attaching to it; - -q) that you will fairly and promptly report all income associated with your activity on the Website pursuant to applicable Laws and pay any and all taxes thereon; - -r) that you will accurately and promptly inform the Operator if you know or have reason to know whether any of the foregoing representations or warranties no longer is correct or becomes incorrect. - -4.2 **Due Diligence, Anti-Money Laundering and Counter-Terrorist Financing**. The Operator is committed to providing safe, compliant, and reputable services to identify, detect, prevent, and report on money laundering, terrorist financing, and other improper activities under applicable AML Laws, CTF Laws, Anti-Corruption Laws, and Economic Sanctions Laws. Accordingly, the Operator insists on a comprehensive and thorough user due diligence process implementation and ongoing analysis and reporting. By agreeing to these Terms, you shall affirmatively certify that (i) you are not a Prohibited Person and (ii) are not utilizing a Digital Assets Wallet for the benefit of a Prohibited Person, and (iii) must provide promptly all information requested and necessary to satisfy due diligence requirements and obligations pursuant to applicable Laws and the compliance policies or procedures of the Operator or any of its Associates. The Operator reserves the right to bar transactions from or to, to undertake enhanced due diligence, or to freeze, suspend or terminate the administration of Services, or the creation or administration of any Digital Assets Wallet for or with, any user for any reason (or for no reason) at any time, subject to any limitations imposed by applicable Laws. Without limiting the generality of the foregoing, this includes, but is not limited to, any transfer, transaction, business, or dealing with - -a) a Sanctioned Person; - -b) a Prohibited Jurisdiction or a citizen or resident of, Government or Government Official of, or Person in or subject to the jurisdiction of, any Prohibited Jurisdiction; - -c) a Person from or in any jurisdiction that does not meet international AML–CTF standards; - -d) a Person that is a Government Official or Politically Exposed Person; - -e) a Person that presents a risk of any exposure to penalties, sanctions, or other liabilities under AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, or tax Laws that may apply; - -f) a U.S. Person; - -g) a Person that the Operator determines is acting in the United States or territory or insular possession of the United States (whether or not by, to, through, or from a U.S. Financial Institution) in violation of, causing any other Person, including, but not limited to, any of the Associates, to violate, attempting or conspiring to violate, or evading or circumventing these Terms of Service or applicable Laws; and - -h) a Person that fails to meet any user due-diligence standards, requests, or requirements of the Operator, or otherwise appears to be of high risk, including, but not limited to, any of the foregoing factors. - -**5. Risks and Limitation of Liability** - -**5.1 Risks and Limitation of Liability**. Trading in Digital Assets is volatile and markets shift quickly in terms of price, liquidity, market depth, and trading dynamics. The information presented on or through the Website is made available solely for general information purposes and the Operator does not warrant the accuracy, completeness, or usefulness of this information. You are solely responsible and liable: for any and all trading and non-trading activity on the Website and for your Digital Assets Wallet on the Website, even if presented incorrectly by the Website at any time. In the event of any conflict between the information reflected in your Digital Assets Wallet or elsewhere on the Website and information on the books and records of the Operator, the books and records of the Operator shall control, even if this results in Losses to you or increases your Losses. You acknowledge and agree: to be fully responsible and liable for your trading and non-trading actions and inactions on the Website and all gains and Losses sustained from your use of the Website and any of the Services; to be responsible for any negative balance in your Digital Assets Wallet on the Website and to be fully responsible for safeguarding access to, and any information provided through, the Website and any of the Services, including, but not limited to, Digital Assets Wallet, Digital Assets Address, private keys, usernames, passwords, and bank account details. You have no right whatsoever to claim damages, specific performance, or compensation in any form from the Operator as a result of actions it takes in its administration of the Digital Token market. There is no guarantee against Losses on the Website. - -**5.2 Limitation of Liability and Release**. The Operator assumes no liability or responsibility for and shall have no liability or responsibility for any Losses directly or indirectly arising out of or related to: - -a) these Terms of Service; - -b) the Website, and your use of it; - -c) the Services, and your use of any of them; - -d) any information or materials available through the Website, whether originating from the Operator, its Associates or any other Person; - -e) the real or perceived value of any currencies or Digital Assets traded or utilized on the Website, or the price of any Digital Token displayed on the Website at any time; - -f) any inaccurate, misleading, or incomplete statement by the Operator or on the Website regarding your Digital Assets Wallet, whether caused by the Operator’s negligence or otherwise; - -g) any failure, delay, malfunction, interruption, or decision (including, but not limited to, any decision by the Operator to vary or interfere with your rights) by the Operator in operating the Website or providing any Service; - -h) any stolen, lost, or unauthorized use of your Digital Assets Wallet information, any breach of security or data breach related to your Digital Assets Wallet information, or any criminal or other third-party act affecting the Operator or any Associate; or, - -i) any offer, representation, suggestion, statement, or claim made about the Operator, the Website, or any Service by any Associate. - -You hereby agree to release the Associates from liability for any and all Losses, and you shall indemnify and save and hold the Associates harmless from and against all Losses. The foregoing limitations of liability shall apply whether the alleged liability or Losses are based on contract, negligence, tort, unjust enrichment, strict liability, violation of law or regulation, or any other basis, even if the Associates have been advised of or should have known of the possibility of such Losses and damages, and without regard to the success or effectiveness of any other remedies. - -**5.3 No Waiver and Available Remedies:** Any failure by the Operator to exercise any of its rights, powers, or remedies under these Terms of Service, or any delay by the Operator in doing so, does not constitute a waiver of any such right, power, or remedy. The single or partial exercise of any right, power, or remedy by the Operator does not prevent either from exercising any other rights, powers, or remedies. The remedies of the Operator are cumulative with and not exclusive of any other remedy conferred by the provisions of these Terms of Service, or by law or equity. You agree that the remedies to which the Operator is entitled include, but are not limited to, (i) injunctions to prevent breaches of these Terms of Service and to enforce specifically the terms and provisions hereof, and you waive the requirement of any posting of a bond in connection with such remedies, (ii) the right to recover the amount of any Losses by set off against any amounts that the Operator would otherwise be obligated to pay to you, and (iii) the right to seize and recover against any of your Digital Assets, or your interests therein, that are held by the Operator or any of its Associates. - -5.4 **Role of the Operator**. The Operator does not generally act as principal, counterparty, or market-maker in the transactions effected through trading on the Website or using the Services. However, from time to time, the Operator may choose to do so. When the Operator is transacting on the Website or Services, its orders, trades and other transactions will be treated the same as or provided lower priority than, other user's orders, trades or other transactions. In the event a dispute arises among parities in respect of the Services, the Operator may, at its sole discretion, suspend the provision of Services to you, in whole or in part, pending resolution of the dispute. - -5.5 **No Representations and Warranties by the Operator**. The Operator makes no representations, warranties, or guarantees to you of any kind and, to the extent permitted by applicable Laws, the Operator expressly disclaims all representations, warranties or guarantees, express, implied or statutory, with respect to the Website and the Services. The Website and the Services are offered strictly on an as-is, where-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or fitness for any particular purpose. - -5.6 **No Advice**. The Operator does not provide any investment, portfolio management, legal, accounting, tax or other advice, or advice on trading techniques, models, algorithms, or any other schemes. - -**6. Intellectual Property** - -6.1 **General Provisions.** The Website and Services are protected by copyright, trademark, and other intellectual property or proprietary rights laws in various jurisdictions. All rights not expressly granted to you in these Terms are reserved. - -6.2 **Marks**. The Marks are used by the Operator under license. You agree not to appropriate, copy, display, or use the Marks or other content without express, prior, written permission from the Operator or the owner of the Marks, including, but not limited to, as a domain name, as social media profile/handle, on a website, in an advertisement, as or in connection with a phone number, as or in connection with an email address, in Internet search results, in metadata or code, or in any other manner. - -6.3 **Copyrights**. Unless otherwise indicated, Copyrights on the Website are used by the Operator under license. You agree not to copy, display, or use the Copyrights or other content without express, prior, written permission from the Operator or the third-party owner; - -6.4 **Limited Licit Use**. You may link to the Website’s homepage or other pages, provided you do so in a way that is fair and legal and does not damage the Operator’s reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval, or endorsement on the Operator’s part without prior, express, written consent. - -6.5 **User Submissions**. The Website or certain Services may contain User Submissions on or through the Website. You hereby grant the Operator and its Affiliates a worldwide, perpetual, irrevocable, non-exclusive, royalty-free license (with the right to sublicense) to use, copy, reproduce, modify, publish, transmit, broadcast, display, and distribute the User Submissions in any and all media or distribution methods, whether now known or later developed. You agree that you are responsible for, indemnify and save and hold harmless the Operator and its Associates from, any User Submissions you submit or contribute, and you, not the Operator or its Associates, have full responsibility for such content, including its legality, reliability, accuracy, and appropriateness. The Operator and its Associates are not responsible, or liable to any Person, for the content or accuracy of User Submissions posted by you or other users of the Website. - -6.6 **User Feedback and Suggestions**. By sharing feedback and suggestions with the Operator or its Associates, you grant the Operator and its Associates a worldwide, perpetual, irrevocable, non-exclusive, royalty-free license to any intellectual property rights you may have in the feedback and suggestions you share with the Operator or its Associates to use, including to improve the Services, copy, reproduce, modify, publish, transmit, broadcast, display, and distribute. You agree that by submitting feedback or suggestions to the Operator or its Associates you are not entitled to any form of compensation should the Operator or its Associates consider or develop technology that is the same or similar to such feedback or suggestions. - -**7. Resolution of Disputes, Jurisdiction and Force Majeure** - -7.1 **Resolution of Disputes**. If you are a Customer, any dispute, claim, controversy or action arising out of or related to (a) the Terms of Service or the existence, breach, termination, enforcement, interpretation or validity thereof, or (b) your Digital Assets Wallet, the operations and Services of the Website, or (c) your access to or use of the Services at any time, shall be subject to the exclusive jurisdiction of the courts of the British Virgin Islands. For the avoidance of doubt, and without limiting the generality of the foregoing, this provision expressly applies to any claim, whether in tort, contract or otherwise, against the Operator. You irrevocably and unconditionally agree and consent to the jurisdiction and venue of the courts of the British Virgin Islands, and you waive any objections thereto. You and the Operator agree that any Party hereto may bring claims against the others only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding. No adjudicator may consolidate or join more than one Person’s or party’s claims and may not otherwise preside over any form of a consolidated, representative, or class proceeding. Any relief awarded to any one user cannot and may not affect any other users. - -7.2 **Jury Trial waiver**: to the fullest extent permitted by applicable law, the parties hereby irrevocably and unconditionally waive all right to trial by jury in any legal action or proceeding of any kind whatsoever arising out of or relating to these terms of service or any breach thereof, any use or attempted use of the site or the services by you, and/or any other matter involving the parties. - -7.3 **Governing Law**. These Terms shall be governed by and construed and enforced in accordance with the Laws of the British Virgin Islands, and shall be interpreted in all respects as a British Virgin Islands contract. Any dispute, controversy, claim or action arising from or related to your access or use of the Website or these Terms of Service likewise shall be governed by the Laws of the British Virgin Islands, exclusive of choice-of-law principles. - -7.4 **Force Majeure**. The Operator is not responsible for damages caused by delay or failure to perform undertakings under these Terms of Service when the delay or failure is due to fires; strikes; floods; power outages or failures; acts of God or the state’s enemies; acts of any Government or Government Official; any and all market movements, shifts, or volatility; computer, server, or Internet malfunctions; security breaches or cyberattacks; criminal acts; delays or defaults caused by common carriers; acts or omissions of other Persons; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against. In the event of force majeure, the Operator is excused from any and all performance obligations under these Terms of Service. - -**8. Miscellaneous** - -8.1 **Assignment**: These Terms of Service, and any of the rights, duties, and obligations contained or incorporated herein, are not assignable by you without prior written consent of the Operator. These Terms of Service, and any of the rights, duties, and obligations contained herein, are freely assignable by the Operator without notice or your consent. Any attempt by you to assign these Terms of Service without written consent is void. - -8.2 **Severability**: If any provision of these Terms of Service or part thereof, as amended from time to time, is determined to be invalid, void, or unenforceable, in whole or in part, by any court of competent jurisdiction, such invalidity, voidness, or unenforceability attaches only to such provision to the extent of its illegality, unenforceability, invalidity, or voidness, as may be, and everything else in these Terms of Service continues in full force and effect. - -8.3 **Electronic Communications and Acceptance**: You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures that the Operator may provide in connection with these Terms of Service through publication on any part of the Website or to your authorized email address on file with the Operator. - -8.4 **Reporting Suspected Violations**: If you encounter activity or materials on the Website or the Services that you believe violate these Terms of Service, please report the suspected violation via our Support Center. The Operator and its Affiliates have a process to investigate such reports and will take such action as it deems appropriate. diff --git a/docs/legacy/resources/legal/privacy-policy.md b/docs/legacy/resources/legal/privacy-policy.md deleted file mode 100644 index 46f5abe..0000000 --- a/docs/legacy/resources/legal/privacy-policy.md +++ /dev/null @@ -1,226 +0,0 @@ ---- -description: 'Last revised: Nov 19, 2022' ---- - -# 🔏 Privacy Policy - -:::info -Yellow Network is a project in development. Not all solutions presented in the following (sub)sections are implemented at this stage. The current, and all subsequent sub-pages, are subject to change. - -For more information, visit the [Roadmap](../../about/roadmap.md) -::: - -Thank you for visiting [https://www.yellow.org/](https://www.yellow.org/) (**"Website"**) - -The Website is owned and operated by Layer3 FinTech Ltd. and its affiliates (together **"Operator"**, **"we"**, **"our"**, or **"us"**). - -This Privacy Policy (**"Privacy Policy"**) sets out the basis on which any Personal Data we collect from you (**"you"** or **"your"**), or that you provide to us, will be processed. - -Please read the following carefully to understand what data we collect, how that data is used and how it can be shared by us. If you do not wish for your Personal Data to be used in the ways described within this Privacy Policy then you should not access or use the Website or use the services, functions, or features offered from time to time on the Website. - -### 1. What information do we collect? - -#### **1.1. Personal Data** - -Personal data or personal information means any information that relates to an identified or identifiable living individual. It does not include data which cannot be used to identify an individual person, such as a company registration number. A “data subject” is an individual who can be identified, directly or indirectly, by personal data. This is usually by reference to an identifier such as a name, identification number, location data, email address, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person. Different pieces of information which are collected together can lead to the identification of a particular person and also constitute personal data. It does not include data where the identity has been removed and this data is no longer capable of identifying an individual (“Anonymous Data”). - -#### **1.2. Information that you provide** - -This is information about you that you give us by (i) registering for an account; (ii) using the Support Center on the Website; or (iii) corresponding with us by phone, email, or otherwise. - -#### **1.3. Information we may collect about you** - -Every time you use the Services, we may collect the following information, which may be considered to be Personal Data when combined with other information: - -| Category of Personal Data | Examples of specific pieces of personal data |
|---|---|
| Identity Data |
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| Social Identity Data |
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| Contact Data |
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| Financial Data |
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| Transactional Data |
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| Metamask Data |
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| Technical Data |
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| Profile Data |
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| Usage Data |
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| Marketing and Communications Data |
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