Token

The YOKE token

YOKE is Yoke's governance token: a fixed supply of one billion, all of it released at a fair launch, staked to vote on everything in the protocol that can change.

At a glance

Fair launch

All 1,000,000,000 YOKE enter the public launch, on the same terms for everyone. Nothing is set aside before it: no presale, no investors, no team or contributor share, no airdrop, no treasury or rewards reserve, and no vesting. The people who build Yoke buy YOKE in the market, like anyone else.

Because nothing is held back, nothing unlocks later. The supply at launch is the whole supply, and it never grows.

Vote with it

Staked YOKE governs Yoke. The program answers to its upgrade authority, to the pool's administrator key (see Architecture), and to the governance account that signs passed proposals. YOKE holders control all three.

What governance decides

• Program upgrades. The weights, the 1.10 buffer and the 5% premium are compiled into the program, so changing any of them, or supporting a target beyond Save and Orca, ships as an upgrade. The upgrade authority belongs to governance.
• New registrations. When Save or Orca upgrades, Yoke's adapter for it stops until a new registration is in place (why). Approving the new registration is a vote.
• The guardian council. Who holds the pause key, below.

The guardian council

Pausing has to be fast, so the pool's administrator key belongs to a council of five signers, any three of whom can pause or unpause. YOKE holders fill the seats by vote and can replace any member the same way.

Each seat is a stake: a member bonds at least 1,000,000 YOKE to the council before taking a seat, and the bond stays locked until they leave. It is separate from YOKE staked to vote. The council can pause and unpause; it can't upgrade the program or move anyone's funds.

How a vote runs

1. Stake

   Stake YOKE to vote with it: one staked YOKE is one vote. To unstake, release your votes first; releasing a vote on a proposal still in voting withdraws it, and a proposal you put up has to finish voting.

2. Propose

   Any wallet with 1,000,000 staked YOKE, 0.1% of the supply, can put a proposal up. A proposal carries the exact instructions it will execute.

3. Vote

   Voting lasts five days. A proposal passes with more yes votes than no votes and at least 40,000,000 YOKE, 4% of the supply, voting yes.

4. Execute

   Two days after voting ends, anyone can execute a passed proposal's instructions on chain.

Next

• ProtocolArchitectureOne native Solana program: its accounts, who can sign what, how a move is checked, and what the administrator can and can't do.
• ProtocolSave and OrcaThe two protocols Yoke can call, the exact accounts it is allowed to touch, and how it notices when either one changes.
• ProtocolParametersEvery number the program enforces, in one place. Weights, the buffer and the premium are compiled in; the rate curve is set once per pool.