| description | Please refer to the Glossary tab for any terms or acronyms with which you are unfamiliar |
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The Yapeswap ecosystem is best described as a DAO, whose flagship product is it's next generation AMM. The Yapeswap AMM deposits idle liquidity from it's liquidity pools into Yearn Finance Vaults (see glossary), so that liquidity provider's capital is always generating yield - even if it is not being used to facilitate trades. The AMM is governed, grown and maintained by the Yapeswap DAO. The DAO framework features a 3 token system where each token has a unique function that plays an important role in growing and maintaining the Yapeswap ecosystem. The 3 tokens are_*_
- $YAPE - Yapeswap's native token; liquidity providers earn rewards in $YAPE
- **$veYAPE **- Issued to DAO members when $YAPE is locked for a set time period and represents access to $YAPE dividends and voting rights within the DAO
- $cYAPE - A stable coin pegged to $DAI used to pay those employed by the DAO, which they can either swap for $DAI or 'burn mine' to accrue $YAPE rewards at a high rate in relation to Yapeswap liquidity pools
_*The tokens are described in greater detail in the _Tokenomics section
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