YEY Quests S1: Rewards Redemption Now Live!

Unlock Your Rewards — Choose YEY Points, USDC, or Both to Fuel Your Web3 Journey

6 min readAug 28, 2024

Attention YEY Questers! The moment you’ve been waiting for has arrived. As of today, August 28, 2024, the YEY Quests S1 Rewards Redemption is officially open. It’s time to cash in on your hard work and dedication!

📜 INTRODUCING YEY POINTS — THE FUTURE OF YEY

YEY Points is the driving force of our ecosystem, designed to recognize and reward your meaningful participation. As we grow together, YEY Points will revolutionize community engagement, spark exciting partnerships, and empower you to shape the future of digital interactions.

Check out our announcement and manifesto here to learn more about YEY Points and their potential.

Our CEO and Founder, Peter Ing, likewise shared some key details about this exciting development:

🏆 REDEMPTION IS LIVE! 🏆

If you participated in YEY Quests Season 1 and are qualified to redeem rewards, you can now convert your earned XP into real value.

Here’s a quick guide to your options:

Choose YEY Points if: You’re excited about the platform’s future, want to engage more deeply with the community, or aim to become a community leader.
Choose USDC if: You need immediate liquidity.
Go for a mix if: You want to balance long-term engagement with short-term flexibility.

Remember, there’s no one-size-fits-all strategy. Mix and match YEY Points and USDC however you like. It’s your reward, your choice!

CONVERSION RATES

For redeeming of YEY Points (YP), the redemption rate shall be 1 XP = 1.5 YEY Points. For example, If you have 2,000 XP, you can redeem up to 3,000 YEY Points.
For redeeming of USDC, The redemption rate is set at 0.6 of the XP holder’s pro-rata portion of the applicable rewards pool of USDC. The USDC available for redemption shall be as follows:

For example: If you have 2,000 XP and rank 16th on the leaderboard (assuming the top 20 users collectively earned 20,000 XP), you could redeem:

Up to 3,000 YEY Points (2,000 x 1.5); Or
Up to 300 USDC (2,000/20,000 * 5,000*0.6); Or
A combination of up to 3,000 YEY Points and up to 300 USDC

NOTE: USDC will be distributed on the Polygon network. Make sure you have a compatible wallet ready to go and connected to your YEY profile before visiting the redemption page.

WHY CHOOSE YEY POINTS?

By opting for YEY Points, you’re investing in the future of YEY and fandom communities powered by Web3. YEY Points holders will enjoy:

Priority access to upcoming features
Exclusive opportunities with partners
Potential for growth as YEY expands

⏰ ACT NOW: The redemption window is officially open! You have until September 16, 2024, to claim your rewards. Don’t wait — start converting your hard-earned XP today!

Head to app.yey.tech/redemption right now to make your choice and claim your rewards. 🎁

HOW TO REDEEM YOUR REWARDS

Log into YEY and go to the YEY Quests Redemption Page.
Check your final XP balance and choose your preferred YEY Points/USDC split. (For USDC Rewards, ensure you’ve connected a Polygon-compatible wallet to your YEY Profile.)
Confirm your choice and collect your rewards!

A NEW ERA FOR YEY 🚀

The launch of YEY Points and this redemption phase mark the beginning of an exhilarating new era for YEY. Here’s what’s on the horizon:

🎉 Exclusive community events with special rewards

🖼️ Unique digital assets for YEY Points holders

🤝 Exciting brand collaborations and partnerships

As part of this new chapter, we recently held a special Discord AMA where YEY leaders discussed the power and potential of YEY Points, our vision for the future, and how you can take part in shaping the YEY ecosystem.

Missed it? No worries! We’ll be sharing a comprehensive summary of key insights soon. Join our YEY Discord and follow our social channels to stay in the loop!

Your Role in YEY’s Future

Your engagement fuels the YEY ecosystem. Whether you choose YEY Points, USDC, or a mix, you’re playing a crucial role in shaping the future of fandom communities powered by web3.

Thank you for your incredible participation in YEY Quests Season 1. We can’t wait to see how you’ll use your rewards to further enhance your community and our growing base of web3-powered fandoms.

Got questions? Join our AMA tonight, follow us on @yeytechologies or contact hello@yey.tech for support.

Let’s kick off the next exciting phase of YEY together!

FAQs

How do I check my final XP balance?

Log into your YEY profile and visit the Redemption page to see your final XP balance from YEY Quests Season 1.

Can I change my mind after choosing my YEY Points/USDC split?

No, your redemption choice is final once confirmed. Choose carefully!

What happens to my XP if I don’t redeem it by September 16, 2024?

Any unredeemed XP will be invalidated after the redemption period ends. Make sure to claim your rewards before the deadline.

Is there a minimum amount of USDC I can redeem?

There’s no minimum for USDC redemption, but remember that transaction fees on the Polygon network may apply.

Will there be more opportunities to earn YEY Points in the future?

Absolutely! We’re planning more ways for users to earn and utilize YEY Points in upcoming features and events.

How long does it take to receive my USDC after redemption?

The process typically takes up to 24 hours, but may take up to 72 hours in some cases.

Can I use YEY Points outside of the YEY platform?

Currently, YEY Points are designed for use within our ecosystem. However, we’re exploring partnerships that may expand their utility in the future.

What happens if I don’t use my YEY Points?

Your YEY Points don’t expire, so you can save them for future use. However, active participation often leads to more opportunities within the ecosystem.

Can I transfer my YEY Points to another user?

Not at the moment, but we’re considering this feature for future updates. Stay tuned!

About BlockchainSpace

BlockchainSpace is a Singapore-based Web3 company backed by leading investors that fuses technology and culture to empower diverse communities across Southeast Asia — from gaming and the creator economy to sports, music, and everything in between.

Offering specialized solutions like YEY, Metasports, Creator Circle, and the Guilds Hall, BlockchainSpace delivers tailor-fit tech solutions that redefine digital engagement and community growth.

YEY, a Web3-powered platform for fandom communities, is owned by CAAB Technologies Inc. This community engagement and loyalty platform helps fandoms thrive by providing powerful tools and support, empowering both community owners and members to celebrate their shared interests and unlock exclusive experiences.

$GUILD is the utility token underpinning BlockchainSpace’s entire ecosystem. It facilitates seamless interactions, incentivizes engagement, and creates value across BlockchainSpace’s diverse Web3 applications and communities.