AMA series YFRB Finance With Cryptowid
On September 26,2020 at 14pm UTC 9pm WIB Indonesia Time in the Cryptowid Telegram Group, AMA YFRB Finance started with Head Of Marketing YFRB Finance as guest speaker. When campaign,10 lucky AMA participants when best asking questions Twitter and AMA sessions will get a total prize of 100 $USD The following is a summary of AMA questions and answers announced by the moderator and guest speaker.
Introduct guest speaker : I’m Farmer QR, head of marketing and management at YFRB Finance. I first was introduced to crypto 6-7 years ago by a friend. I’ve worked on several projects on marketing department and here I am at YFRB Finance bringing together with our team an awesome platform that everyone will love🔥
SEGMENT 1 INTRODUCTION PROJECT
Q.1. Please tell the community what is YFRB Finance (YFRB) in detail ?
YFRB is a utility token that leverages multiple DeFi platforms to provide beneficial services to YFRB token holders. YFRB holders will be able to deploy flash loan smart contracts and execute arbitrage trades with flash loans without any coding needed.
Q.2. What is the background behind YFRB Finance project creation and why does YFRB Finance DeFi system as the foundation of the project?
YFRB Finance first begun as an idea between our developers, we’ve known each other for years and we said let’s give it a shot to bring the Flash loan and Arbitrage world to the average Joe without them needing any coding experience.
YFRB Finance is part of the DeFi ecosystem, as DeFi is the essence of crypto especially for the Ethereum network, majority of DEX’s and lending platforms such as AAVE, dYdX are DeFi based which plays a big role for our platform as well.
Q3. As we know, every serious project always have their own roadmap. Could you please explain YFRB Finance roadmap and also what phase is currently ongoing?
Our roadmap can be seen below and whitepaper, our WP and Roadmap are not final and are subjected to change based on the progress of our project.
We are currently in phase of developing our platform where everyone who holds 50 YFRB will be able to deploy their flash loan arbitrage smart contracts. It’s our main goal as of now and our developers are doing their best to deliver it as soon as possible 🙂
Whitepaper and Roadmap: https://bit.ly/2HeAtT9
Q4. We are so curious about YFRB, could you please tell us about YFRB its total supply, its features, and where we can buy it?
The total supply of $YFRB is 40,000.
Our token metrics are:
– 40% Staking
– 30% Community Share
– 20% Uniswap Liquidity
– 5% Team
– 5% Marketing
Our circulating supply is as follows:
– 12000 Community Share
– 3888 Uniswap Liquidity
– 400 Team Tokens
– 1000 Marketing tokens
The community share occurred on September 9th on Bounce Finance with these terms:
– Hard cap: 1000 ETH
– Share per ETH: 12 YFRB
– Community share: 12000 YFRB
Currently the main feature or utility of $YFRB token is a requirement of 50 $YFRB to deploy Flash loan arbitrage smart contracts and we have a few major announcements coming up in Q4 that are about other use cases for our token.
We are currently listed on Uniswap: https://uniswap.info/pair/0x4b30158f2b33544deb0c00304bcd09f0ec43e036
The liquidity is locked for a year and can be viewed here: https://unicrypt.network/uniswap-browser/pair/0x4B30158f2B33544deb0c00304bCd09F0eC43e036
Q5. what is the YFRB Finance strategic plan to go forward?
The strategic plan for YFRB Finance to go forward is to keep our deadlines met and hear out the community for suggestions, improvements and ideas.
After our platform launch, we have an announcement lined up that will change the course of our project for the better and it’s one that the community will love! 🙂
SEGEMENT 2 FROM TWITTER
Q. 1 From @Sabrina77167513
What mechanisms / strategies will you use to keep your users motivated and present on your platform YRFB Finance ?
Our platform provides tools that will allow users to be constantly updated with profit margins and transaction fees. Our smart contracts will execute arbitrage trades only if the profit margin is higher than the transaction fees. We are looking to keep our users motivated by bringing wider use-cases to our tokens that will benefit them!!
Q. 2 From @Nikmahmaah
Does the YFRB system really guarantee holders safety? And what is the system used by YFRB to ensure holders feel comfortable in the midst of recent hacking?
YFRB essentially isn’t a system, but rather a platform that will allow people to create their own FLA (Flash Loan Arbitrage) smart contracts. YFRB offers a non custodial service which means that all of the process of executing flash loans and arbitrage trades happens on the users end without exposing their private keys or wallets ?
Q.3 from @dewiella20
There are many DeFi projects available in the market that even function very similarly to YFRB Finance So can you say what are the main competitive advantages of YFRB Finance ? What outstanding benefits & extras do YFRB Finance ?
The main competitive advantage of YFRB smart contracts are that we leverage multiple DEX’s such as Uniswap, Kyber, Sushiswap etc and multiple flash loan lenders such as AAVE and dYdX in our smart contracts, and once there is a profitable trade the smart contract executes it instantly. Majority of other platforms offer CEX price differences and the process is slower compared to doing it on DEX’s and another thing is you won’t be able to do the arbitrage with flash loans on CEX’s.
Q. 4 From @ro_beeah
ERC is most used blockchain for DeFi tokens in the meantime,and we know that the gas price is still high and fluctuative for now. So by this reason,is YFRB open minded to differ than other YF Tokens in building the blockchain in TRC basis or even build the blockchain on your own?
We’ve received this question in the past, building on TRX doesn’t offer wide benefits to our users as much as Ethereum does. TRX Blockchain doesn’t have the userbase and DAPP’s that Ethereum has.
In any case that Tron blockchain user base expands, lending platforms and several DEX’s are available, we will look into expanding.
Note: We are a standalone project, we aren’t a fork or a clone of YFI. We do not compete against other YF’s projects.
Q. 5 From @Memecrypto101
What are the features that make $YFRB DeFi one of the best projects on DeFi? and also Ethereum has destroyed a high-cost operation. How does $ YFRB avoid this problem ?
Our main feature which are Flash loan arbitrage smart contracts is what makes our project standout. Ethereum hasn’t destroyed any high cost operation, it’s only ethereum fees on transactions that are ridiculous, with our platform the average Joe will be able to compete against other arbitrage traders using arbitrage trading with flash loan. As for tx fees, it will depend on the Ethereum network, we cannot do anything about it unfortunately. Sometimes it does get clogged up with transactions, however we hope that Eth 2.0 would alleviate some of these issues.
SEGMENT 3 FREE ASKING
Q. 1 Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term.
We are currently hosting AMA’s prior to platform launch. We have many bigger marketing campaigns coming up after platform launch as well partnerships!
Q. 2 Why should I invest in your token (YFRB)? do you guarantee I’ll be profitable?
We do not guarantee profit. The profit margin depends on the market conditions and different prices between DEX’s.
Q. 3 Any small coding error can permanently damage the entire assets of the LPs. This is the biggest risk of Yield Farming . How will YFRB deal with this problem? Has your smart contract been audited by any blockchain system ? Why should we feel safe when provide liquidation for YFRB?
Note: We are not a yield farming project.
We are open to audits after our platform launch. Our token smart contract is OpenZeppelin standard which is what most of standard ERC20 tokens are.
We currently offer Flash loan arbitrage smart contracts and are also exploring yield farming if we can possibly create products that will make it easier process and profitable.
Q. 4 Trust and security is very important in any business , what makes investors , customer and users safe secure when working with your project?
The process of doing arbitrage will be non custodial. The whole process will occur on users end making it safe and secure.
Q. 5 Can you tell us the motivation and benefits for investors to hold $YFRB token in a long term investment and What plans do you have to help drive demand and scarcity for the token?
We currently have a requirement of 50 tokens for a user to hold to be able to create their own smart contract. If the user creates smart contract and reduces the amount he/she is holding, the smart contract won’t execute arbitrage trades.
We currently have staking in line as one of our use cases for our token and we have explored a few other use cases that will be published after platform launch.
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