Some ideas about raising APY token utility from me (maybe and for sure smth was already mentioned by other holders here):
Holding APY in larger quantities and/or longer gives Discount in fees on the Platform.
Access to pools - to save ETH gas and accumulate a voting power for minor holders.
Staking certain (not very large) amount of APY tokens as an access to the Pool of investors into APY platform. The idea for pool participants is to save money on ETH gas for deposit/withdrawal.
By the way in such case APY becomes a 2-layer voting mechanism - thanks to pools.
- Right to gain AIRDROPS from partner projects. Here lie numerous options to use APY token.
For example if we all vote to give partner projects (like launchpad or CEX) opportunity to use platform with favorable conditions (discounts for fees, higher stable coin rewards etc.) - those partners could (voluntarily) decide to airdrop APY token holders with their tokens.
Those partners are SEPARATE legal entities - so we might do not violate in APY platform any US laws.
Here large opportunities for decentralization lie with respect to voting for collective airdops of APY tokens done by our community pools in exchange of similar airdrops done by communities of other crypto projects. Interesting how feaselible it is from technological point of view.
APY token as an access to cash-back mechanism. If user does not claim APY token (gained as reward) he/she could get cash-back in the form of stable-coins. Necessary: it would not be a fee discount and would not be additional rewards, it might be cash-back. Is it legally possible?
APY token as access to sophisticated services provided by APY platform together with partner projects - such as launchpad staking, CEX vault depositing etc.
Clientele of partner project (say launchpad investors) could buy and hold APY together with launchpad tokens in order to get airdrop from APY Platform in stablecoins for the period they stake launchpad’s tokens to participate in new projects.
The similar thing could be done for CEXes clientele putting money in their vaults to gain more income on vault deposits.
Additional income to vault depositors could come from APY Platform in the form of stable coins airdrop - in case depositors buy and hold APY tokens.
This could be a “loyalty reward” (reward for the longevity of APY token holding at their wallets).
These schemes (if allowed legally) could be economically feasible in the view of short time needed deposit&withdraval of stable coins on APY Finance platform. This time is much shorter than regular staking periods at launchpads and deposit periods at CEXs.
Technologies of Defi 2.0. Already mentioned by some people here, both from team and holders community - such as tokemak’s self-sustaining liquidity.
Gamefi. APY tokens could be access to better opportunities in Metaverse games. Airdrop of stable coins to relevant Gamefi projects could be the rewards for holding APY tokens.
Already mentioned buy and burn mechanism for APY tokens (but better locked in a Platform vault than burnt) actually has little to do with expansion of token utility.