Step 1: Apply the conjugation relation repeatedly.
We are given \(xyx^{-1}=y^2\). Conjugating again by \(x\):
\[x^2yx^{-2}=x(xyx^{-1})x^{-1}=xy^2x^{-1}=(xyx^{-1})^2=y^4.\]
Step 2: Continue the pattern.
By induction, \(x^kyx^{-k}=y^{2^k}\) for every \(k\ge 1\). Indeed \(x^3yx^{-3}=x(x^2yx^{-2})x^{-1}=xy^4x^{-1}=(xyx^{-1})^4=y^8\), similarly \(x^4yx^{-4}=y^{16}\), and \(x^5yx^{-5}=y^{32}\).
Step 3: Use \(x^5=e\).
Since \(x^5=e\), the left side becomes \(x^5yx^{-5}=eye^{-1}=y\). So
\[y=y^{32}\implies y^{31}=e.\]
Step 4: Determine the order of \(y\).
The order of \(y\) must divide 31. Since 31 is prime, the order of \(y\) is either 1 or 31. Order 1 would mean \(y=e\), which is excluded. Hence the order of \(y\) is 31.
Conclusion:
\[\boxed{\text{Order of } y = 31}\]