Recap AMA YFS Finance in Cryptowid Community

AMA series YFS FINANCE With Cryptowid Telegram Community

 

On December 13,2020 at 1pm UTC 7pm WIB Indonesia Time in the Cryptowid Telegram Group, AMA YVS Finance started with Mr Lucas CEO – Founder of YVS Finance Community Lead  . 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.


speaker introduction 

Mr. Lucas : I can give a short background from myself and share some experience

After several years of experience in financial markets throughout Europe in several banking and fintech companies, I have decided to leave the traditional sector and focus on developing innovative, transparent, and self-executing smart contracts focusing on decentralized finance products. I have completed my studies in the field of macroeconomics.

SEGMENT 1 INTRODUCTION PROJECT

1. Some users may not be familiar with YVS Finance , can you give them a brief introduction first ?

Mr. Lucas : YVS is an innovative decentralized finance project that combines the best features for creating a truly unique, transparent and secure yield-farming platform. Because the smart contracts are completely pre-programmed before launch, investors can be calm with their deposits into our project.

All tokens, from the pre-sale to the last token distributed, are coded in the contracts and can not be changed anymore. Everything will be audited by the top blockchain security firm Hacken and there will be no admin control on the contracts and no functions exposed that could lead to exploits.

We chose the name because it means YVS = Yield-farming, vaults and staking. We didn’t want to complicate the name and so we decided to go with a descriptive name. These are also the three features with which we will start on our product launch.

Our presale started 2 days ago and will run for 3 more days until Wednesday, so there is still time for you to join if you’re interested and receive a small bonus!

2. As we know, every serious project always have their own roadmap. Could you please explain YVS Finance roadmap and also what phase is currently ongoing?

Mr. Lucas : Yes, we’re currently in our presale phase as mentioned and we have three more days before it is complete.

We’ll be launching yield-farming, staking and vaults with a guaranteed 20-month reward payout period, which means that investors can be sure about receiving their return for a long period of time for deposits both in YVS, Uniswap liquidity pool tokens as well as deposits in stablecoins and wrapped bitcoin. Locking periods as well as guaranteed liquidity on Uniswap with unique deposit conditions (higher rewards for longer locking periods, 50 % of liquidity is locked forever).

After our successful launch we’ll have a further roadmap ready with even more announcements.

3. We are so curious about $YVS , could you please tell us about $YVS its total supply, usability and where we can buy it?

Mr. Lucas : The total supply is 2.000.000 $YVS and no more tokens will be minted ever. This functionality is completely disabled.

800.000 $YVS will be distributed in the pools for the initial 20-month period. 500.000 $YVS will be locked with the JustLiquidity protocol.
350.000 $YVS will be locked in a safe as project tokens. The rest will be used for exchange listings and marketing.

There is also a 0.75 % burn rate active on all transfers except to the staking pool to create a deflationary economy.

Right now it’s possible to join the presale by visiting yvs.finance/presale and reserving your tokens!

We will be listed on Uniswap immediately after our presale ends.

4. Can you tell us what are advantages from stake $YVS ?

Mr. Lucas : The staking pool has a 20 % reward allocation and has a minimum locking period of 2 weeks. The user can choose to lock up to 12 weeks which means he will receive an additional 10 % reward boost. Claiming of rewards can be done at any moment and does not incur any additional fees. You also have the choice of extending your locking period at any time if you wish to do so. The rewards at launch should be very good for early supporters

5. Can you introduce YVS Finance next strategic plan?

Mr. Lucas : I can share what is our mission and goal:

We want to offer more trust to our investors. That is our primary goal. As mentioned before contracts have no owner and so after we deploy them we cannot do anything to compromise investors funds and distribution, claiming of tokens and liquidity will be automatically processed.

We believe that the current state of DeFi is that there are just too many hacks and rug pulls and we hope that with our experienced coding, audits and pre-programmed contracts we can shine some light on bad things that are happening in this sector.

Our presale is also different as it offers investors a new way to earn more tokens by being more active with the referral link and daily bonuses if you invest in an early stage.

We will be offering yield-farming, staking and vaults immediately on launch and with guaranteed rewards for the first 20-month period, so we believe we offer much more than many other projects do after several months of existence.

SEGMENT 2 QUESTION FROM TWITTER

1. From @Marcellsiaja

What is  plan YVS Finance for global, what is YVS Finance now aiming for, in the field of development or marketing?
And is there a high level of security to protect the private information of YVS Finance users ?

Mr. Lucas : We have many plans to gain mass adoption in the future. Marketing campaigns on Twitter, Telegram and YouTube are only some of the plans we will be using going forward to reach new investors. We have a long journey ahead with many AMA interviews in big communities to reach a large audience. And we also believe that once users start to use the YVS platform, they will be inclined to become more and more involved with the project itself.

We are experienced solidity developers and we believe in the quality of our code. That is why we’ve announced a collaboration with Hacken, one of the most reputable blockchain auditing firms, to conduct a full review of our project repository. All the functionality has already been pre-tested on Ropsten and this audit will only solidify the quality of our code and products. And remember, all of this is done pre-launch so there is no doubt for our investors. Not many other projects can say something like this.

2. From @mejiuku

The only way the blockchain industry will thrive and thrive is if they have users who can use the product easily. What are some of YVS Finance unique features that will help attract more users and developers to it too?

Mr. Lucas : Here are the 3 features I would like to point out:
Token contracts audited pre-launch by auditing cyber-security firm Hacken, one of the most reputable blockchain companies

Yield-farming, staking and vaults with a guaranteed 20-month reward payout period, which means that investors can be sure about receiving their return for a long period of time for deposits both in YVS, Uniswap liquidity pool tokens as well as deposits in stablecoins and wrapped bitcoin. Locking periods as well as guaranteed liquidity on Uniswap with unique deposit conditions (higher rewards for longer locking periods, 50 % of liquidity is locked forever).

Unique presale system with daily bonuses for early investors and a unique referral system that will pay out members an additional 1.0 % bonus token payout split between the referrer and depositor.

3. From @granmast08

Currently, many Finance projects want to cross-chain, DeFi, and NFT.  It seems that they don’t find their goals and scenarios when they are chasing the main target.  What is YVS Finance eager to do to achieve its targets?

Mr. Lucas : The goal of our project is to provide the first and only truly decentralized yield-farming experience to the users. No other project exists that has all functionality pre-programmed in the contracts themselves. By this we mean yield-farming, staking and vaults. We offer the full suite of DeFi products already at launch with guaranteed rewards for the next 20 months and even beyond that with our unique 0.75 % burn rate on transfers.

I believe there are not many other projects that can say the same and that is our main objective. YVS Finance will be a pilot experiment that I am sure will be used in the future as well and will be taken as a model for future projects.

4. From @morela126

I see the facilities from YVS finance are very complete such as farming and staking. my question, what is your strategy for investors why they should buy and store this $YVS token for the long term?

Mr. Lucas : We have a guaranteed payout period of 20 months and combined with our unique 0.75 % burn rate we will be able to provide rewards to users for as long as the Ethereum blockchain itself exists.

By having a deflationary token economy model this will bring long-term value to the token and ensure our investors that they will be able to farm and stake for a very long time.

5. From @masberto875

Please explain to us the overview of $YVS token, is it designed to go up and down for your platform to be successful?  And does it have a longterm plan like holding, staking, farming, or maybe burning?

Mr. Lucas : Yes, there will be staking, farming and also a 0.75 % burn rate on all transactions!

In total there will be four pools on our platform: a staking pool, a liquidity pool (ETH-YVS pair on Uniswap) and two vault pools. There will be no liquidity pools offered against a stablecoin pair. However, you will be able to deposit stablecoins in one of our vaults which will accept USDT/USDC/DAI/USDN. There is no impermanent loss in these pools and you will only continue to earn your investment while receiving additional YVS rewards! The only limit is the minimum deposit period of one week, but we don’t believe this should be an issue as vaults are long-term investments 🙂

Additionally, there will be a wrapped bitcoin vault with exactly the same features, so make sure to check it out.

SEGMENT 3 FREE ASKING

1. YVS Finance recently announced their partnership with Justliquidity. What are the main reason behind partnership with Justliquidity? How this can be beneficial for both project?

Mr. Lucas : JustLiquidity is a renowned name in the blockchain industry, which provides many services to both normal users and emerging projects themselves. We will be using their services to connect to BSC in the future to provide cross-chain liquidity and also locking all remaining project tokens in their protocol for ultimate security.

This will be a huge benefit for us as it will show we have no bad intentions with the project funds and they will only be used for specific purposes such as exchange listings in the future, promotions, marketing campaigns etc.

2. More than 200 ETH has already been deposite into YVS pre-sale, my question is what is the fund alocation and usage YVS have pre-sale?

Mr. Lucas : Yes, we’ve already raised more than 200 ETH as you’ve mentioned and there are still three days to go. There are several benefits for buying YVS in the presale round:

Firstly, you will receive a daily bonus for being an early supporter, which means you will receive a better price.

Secondly, we have a very unique referral system where each user you refer, when he makes a purchase on the presale, you will both share a 1.0 % referral bonus split evenly. So as you invite friends or other people in your community and they purchase tokens, you both receive a reward!

The investment limits are minimum 1 ETH and maximum 50 ETH. The base price is 1 ETH = 45 YVS and the hard cap is set to 100.000 YVS tokens. The initial price on Uniswap will be set to the base price.

3. How secured is your smart contracts code, did you ever audit it via any third party? What has been the biggest challenge you have faced in YVS Finance development?  

Mr. Lucas : We are experienced solidity developers and we believe in the quality of our code. That is why we’ve announced a collaboration with Hacken, one of the most reputable blockchain auditing firms, to conduct a full review of our project repository. All the functionality has already been pre-tested on Ropsten and this audit will only solidify the quality of our code and products. And remember, all of this is done pre-launch so there is no doubt for our investors.

Not many other projects can say something like this. All possible security breaches have been accounted for – flash loans, back-doors and all other types of exploits are programmatically disabled and we’ve made it completely decentralized where only the contract itself can execute functions.

4. Why the disposition that they do not require governance or administrative control? How does this benefit you? Do they have more advantages than disadvantages due to this choice?

Mr. Lucas : There will be no admin control in our project and in our smart contracts.

By this we mean that the contracts can not be changed after deployment. The owner of the contracts has no control over functions which could change the distribution, transfer any funds or similar flaws that similar projects have been exposed to recently. For example what happened to Compounder, can not happen here, as there are no back-door exploits. What happened to Pickle or Harvest can not happen here, because we’ve disabled arbitrage and enforced a time period between depositing and withdrawing. Everything is pre-defined.

That is what makes it much more secure than similar yield-farming projects where developers have control over all functions and parameters.

5. Currently, projects yield farming scam is coming up like mushrooms.
What makes investors believe in YFS Finance?
What is the difference of YFS Finance compared to other yield farming projects?

Mr. Lucas : We want to offer more trust to our investors. That is our primary goal. As mentioned before contracts have no owner and so after we deploy them we cannot do anything to compromise investors funds and distribution, claiming of tokens and liquidity will be automatically processed.

We believe that the current state of DeFi is that there are just too many hacks and rug pulls and we hope that with our experienced coding, audits and pre-programmed contracts we can shine some light on bad things that are happening in this sector.

Our presale is also different as it offers investors a new way to earn more tokens by being more active with the referral link and daily bonuses if you invest in an early stage.

We will be offering yield-farming, staking and vaults immediately on launch and with guaranteed rewards for the first 20-month period, so we believe we offer much more than many other projects do after several months of existence.

AMA FINISHED

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