What Is Command Y in Figma?

Figma has a library of keyboard shortcuts that you can use to speed up your workflow. For example, you can use the shortcut "CTRL  + O" to open a new file, or "CTRL + S" to save a file. You can also use the shortcut "CTRL + Z" to undo an action. With these shortcuts, you can quickly navigate and edit your designs without having to use your mouse.

What Is Command Y in Figma? 

If you're looking to know exactly what shortkeys do what in the editor you can press CTRL + SHIFT + ? 
This will toggle the complete list of available shortcuts you can learn to use on your workflow and save a bit of time:

The bad news is that Command + Y, or CTRL + Y doesn't seem to do anything in Figma. Maybe it did in previous versions of the software but got removed in the meanwhile. 

Conclusion

In conclusion, Figma does indeed have keyboard shortcuts that you can use to speed up your workflow. These shortcuts can be found in the library of Figma shortcuts, and allow you to quickly navigate and edit your designs. As far as Command + Y question, it doesn't seem to be a shortkey for anything.