KEY TAKEAWAYS
- The YOM Bridge from Solana to peaq has closed, permanently burning any unmigrated tokens and reducing the total supply by nearly 36%.
- YOM’s OG Genesis Node Collection sold out, marking the start of its community-owned node ecosystem, with further expansions planned before the Token Generation Event (TGE).
- The TGE, scheduled for Q3 2025, will launch the $YOM token on the peaq network, setting the stage for the Mainnet launch and full operation of the YOM Cloud Gaming Network.
- Post-Mainnet, YOM will focus on ecosystem developments, offering token holders a dashboard for tracking and trading $YOM on various exchanges.
As of April 29, 12:00 AM CET, the YOM Bridge from Solana to peaq has officially closed. This transition period allowed token holders to migrate their assets, and any tokens not migrated during the three-month window have been permanently burned. This action has reduced the total supply, removing nearly 36% of the total circulating tokens, based on a snapshot from January 24, which recorded 106.7 million YOM tokens.
The reduction in circulating supply is seen as a positive development for long-term holders and the overall health of the ecosystem. The closure of the bridge is a significant step forward as YOM focuses on its upcoming milestones.
Genesis Collection and Upcoming Token Generation Event
YOM has successfully sold out its OG Genesis Node Collection, which consisted of 400 community-owned nodes, each priced at $99. This initial sale marked the beginning of YOM’s node ecosystem, emphasizing community ownership. The Genesis Collection will continue to expand in phases, with new batches of nodes being released in collaboration with various communities ahead of the Token Generation Event (TGE).
The TGE is a pivotal event for YOM, marking the launch of its new token on the peaq network. Scheduled for the third quarter of 2025, the TGE will make the $YOM token liquid and integrated within the peaq ecosystem. This event sets the stage for the subsequent Mainnet launch, where the YOM Cloud Gaming Network will become fully operational.
Future Developments and Mainnet Launch
The Mainnet launch, expected shortly after the TGE in Q3 2025, will bring the YOM vision to life with real players, usage, and earnings for node operators. The Mainnet relies on the $YOM token being live and circulating, making the TGE a necessary precursor.
Following the TGE and Mainnet launch, YOM plans to focus on further developments within its ecosystem. Token holders will have access to a dashboard to track vesting and claim tokens as they unlock. Additionally, the $YOM token will be tradable on both centralized and decentralized exchanges.
For more detailed information, visit the official announcement here.
Why This Matters: Impact, Industry Trends & Expert Insights
The closure of the YOM Bridge and the subsequent burning of nearly 36% of the total circulating tokens marks a pivotal shift in YOM’s token ecosystem. This reduction in supply is poised to influence the token’s market dynamics significantly.
A recent BeInCrypto report highlights that trends in token migration and supply reduction, such as Bitget’s aggressive token burns, are aimed at enhancing value through deflationary mechanics. This aligns with YOM’s strategy to bolster long-term value by decreasing its circulating supply.
A report from TheStreet underscores that significant token burns can create deflationary pressure, potentially driving up prices if demand remains strong or increases. This supports the potential positive impact of YOM’s supply reduction on its market value and ecosystem health.
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