Recap AMA CryptoVN x YSL.IO
Time: 14:30 PM UTC – June 30, 2021
The ama session will have 3 parts:
1. Introduction/Questions from CryptoVN Team
2. Answer question from Twitter
3. Live AMA
PART 1:
Host:
Q1. Could you briefly introduce yourself as well as your project?
Hardev Dhillon – Co-Founder of YSL.IO
A brief background on myself; I’m a Certified Practising Accountant (CPA) with a professional background in Finance, Accounting and Business, specialising in Financial Risk Management and Advanced Taxation. I have broad experience across banking/accounting (HSBC, Westpac, KPMG, and Deloitte).
Here’s a quick overview of what YSL.IO stands for and some of our stand-out features:
YSL.IO ? = [ ⭐️ Yield + ? Staking + ? Liquidity ] = ?
Our project name is derived from the key features of our unique protocol; high YIELDS, rewards for STAKING and locked LIQUIDITY.
✅ Zero Platform Fees – YSL.IO does not charge a Deposit fee, Withdrawal fee or a Performance fee
✅ Novel Tokenomics – The governance token of YSL.IO (sYSL) is correlated to YSL-BUSD Locked Liquidity
✅ Continual Growth in Locked Liquidity – Our protocol autonomously creates YSL-BUSD Locked Liquidity
✅ Automated Buy-Backs – sYSL token holders and YSL-BUSD liquidity providers can stake their tokens to earn a share of the monthly buy-back.
✅ Maximised APR (%) – Our protocol will OPTIMISE positions (held on AMMs) by 300%
Host:
Q2. What makes the YSL.IO project stand out more than the projects in the same direction at the moment?
Hardev Dhillon – Co-Founder of YSL.IO
✅ AUTO-LOCK LIQUIDITY
Our novel token economy and approach to yield farming is what makes us truly stand out among other comparable BSC projects.
It has been designed with purpose to ensure long term value for our native token holders!
Unlike other projects, the price of our native token is tied to locked liquidity and our protocol has the unique capability of creating liquidity AUTONOMOUSLY whenever a user interacts with the platform, ensuring there is a CONTINUAL creation of liquidity!
This novel approach will ensure as the TVL of the platform increases with more users, the more YSL-BUSD locked liquidity is created, the greater the price of the sYSL token!
✅ MAXIMISED APR (%)
We have a completely unique approach to yield optimisation, that is fuelled by the creation of YSL-BUSD locked liquidity.
Our protocol has been designed to maximise the returns of third-party tokens through the creation of locked liquidity, optimising the APR (%) of positions held by users on a AMMs (such as ApeSwap and PancakeSwap) by 300%!
For example;
- The BUSD-USDT farm on ApeSwap Finance currently yields an APR of 14.66%
- Traditional optimisation (harvesting + compounding daily) only results in an APY of 15.79%
- YSL.IO optimisation will obtain an APY of 42.78% ?
✅ ZERO FEES
We designed our platform to be extremely cost effective from a users perspective!
❌ ZERO SWAP FEES
❌ ZERO DEPOSIT FEES
❌ ZERO WITHDRAWAL FEES
❌ ZERO PERFORMANCE FEES
Host:
Q3. What are the memorable milestones of YSL.IO in the research and development process?
Hardev Dhillon – Co-Founder of YSL.IO
Our partnership with ApeSwap Finance has been the most important milestone in our development.
With this we have been able to leverage a special vesting factory (locked liquidity smart contract) offered by ApeSwap Finance for our price discovery phase and for all future creation of locked liquidity.
And more recently, we were lucky enough to have been accepted into the highly coveted ApeSwap BUIDL program!
The announcement can be found in the most recent #BUIDL newsletter released by ApeSwap ? https://bit.ly/3xFnf6S
And in our most recent medium article? https://bit.ly/3vGWiyh
PART 2:
- @biggdataa
Wouldn’t it be a wrong decision to start a new project in this period as we have been experiencing a bear market in recent months? How will you maintain the price stability of your boat in this environment where all cryptocurrencies are falling?
Hardev Dhillon – Co-Founder of YSL.IO
Our unique token economy has been designed to be resilient, even in a bear market.
The benefit of our protocols novel capability of autonomously creating YSL-BUSD locked liquidity is that during a bear market, our optimisation function will be even more attractive due to its ability to provide high yields on low APR (%) stable coin farms.
As during a bear market, farmers would likely switch their positions to stable coins which typically have low APR (%), and platforms that are able to offer greater returns on stable coin positions will increase in demand.
For example; the BUSD-USDT farm on ApeSwap Finance currently yields an APR of 14.66%.
Traditional optimisation (harvesting + compounding daily) would only result in an APY of 15.79%.
Whereas YSL.IO optimisation will obtain an APY of 42.78% ?
This will not only guarantee our survival during a bear market, but will increase our market share + TVL
- @KathDM3
The traditional method of yield optimization involves compounding harvested returns daily, a technique performed by countless yield optimisers in the DeFi space. How has http://YSL.IO revolutionized the way in which yield ‘optimization’ is conducted?
Hardev Dhillon – Co-Founder of YSL.IO
We have a completely unique approach to yield optimisation, that is fuelled by the creation of YSL-BUSD locked liquidity.
Our protocol has been designed to optimise the APR (%) of positions held by users on AMMs (such as ApeSwap and PancakeSwap) by 300%!
For example: the BUSD-USDT farm on ApeSwap Finance currently yields an APR of 14.66%.
Traditional optimisation (harvesting + compounding daily) would only result in an APY of 15.79%.
Whereas YSL.IO optimisation is capable of obtaining an APY of 42.78% ?
- @Greyhair_08
Yield farming is one of the money printer in the DeFi space and ways users earn passive income. Please tell us how $YSL compares and edge out many yield farms offering high APY on liquidity farming?. Why would yield farmers pick it over other yield farming options available?
Hardev Dhillon – Co-Founder of YSL.IO
✅ MAXIMISED APR (%)
A user simply needs to deposit LP tokens into any of our active vaults and our protocol will handle all the heavy lifting of maximising your returns by 300%, its that simple!
✅ ZERO FEES
We designed our platform to be extremely cost effective from a users perspective!
❌ ZERO SWAP FEES
❌ ZERO DEPOSIT FEES
❌ ZERO WITHDRAWAL FEES
❌ ZERO PERFORMANCE FEES
- @Zafiyakhan2
How do you guarantee us the safety of our funds and data, many project despite promising utmost security, still get hacked and rugpull, how will you prevent such?
Hardev Dhillon – Co-Founder of YSL.IO
Our contracts are currently being audited by Solidity Finance (https://solidity.finance/) and we will also be engaging with Certik (https://www.certik.io/#home) to perform an additional audit before our platform launch:
✅ MULTIPLE EXTERNAL AUDITS – Our protocols architecture and logic will be audited by well-known and reputable external parties, so you can have piece of mind that your funds are SAFU!
✅ ONGOING AUDITS – We intend to conduct ongoing audits on a regular basis, to ensure the long-term maintenance of our protocols security.
Additionally, here’s are some examples of features that our team has incorporated into the protocol to ensure MAXIMUM SECURITY:
- Price Feeds by Chainlink: the protocol can better resist flash loan attacks, network congestion, and centralised infrastructure disruption.
- Smart Contract Timelocks: these will be integrated across all of our smart contracts to protect our users and funds, as a delay/period of time is required before any changes can be made to any smart contracts.
- Real-Time Monitoring of the Main Oracle Price: When there is a serious deviation between the main oracle and the system, the system will alert and notify our development team to ensure timely action.
- Prevention of External Smart Contract Interaction: With the recent flash loan attacks on BSC, we will incorporate a stop on all external smart contracts to interact with the our contract, mitigating the risk of any flash loan attack within our protocol.
- @ElKunMUfergie
Will there be a public offering for YSL? How to get tokens in the fastest way in the early bird? What are incentives of $YSL Token bring to community and investors?
Hardev Dhillon – Co-Founder of YSL.IO
Our private and public sale is open to all, there’s no whitelist and everyone is welcome to participate!
The private sale begins tomorrow on July 1st, and the public sale begins on July 23rd.
Yes we do have some exciting incentives during the Price Discovery Phase:
✅ REFERRAL BONUS PROGRAM
We are running a 10% Referral bonus program during the sale period ? So if you refer someone that contributes to the sale, you will earn 10% based on their contribution made by those you refer. For example, if you were to refer someone that had a $10k contribution you would get back $1k worth of sYSL tokens at the end of the discovery phase ?
✅ BONUS MULTIPLIER
The bonus multiplier will effectively add a bonus on top of any deposits that you make during the sale period!
During the private sale the bonus multiplier is set to 3.00x ! So if you were to deposit 5k during the private sale, you will essentially receive 15k worth of sYSL tokens, that’s $10k of bonus value.
PART 3:
- @shibvpron
Hello, I have a question Why should I invest in your token; do you guarantee I’ll be profitable?
Hardev Dhillon – Co-Founder of YSL.IO
There are two key things to know about our unique tokenomic model:
- The price of the sYSL token is tied to YSL-BUSD locked liquidity.
- We have designed the YSL.IO protocol to create YSL-BUSD locked liquidity whenever a user interacts with the platform
In other words; as users begin to use YSL.IO, the TVL of the platform will increase, causing more YSL-BUSD locked liquidity to be created, leading to the price of the sYSL token to increase!
This demonstrates the long-term value of the sYSL token for those that participate in the sale! ?
- @WallaceFarrar
Can you please explain to us the sophisticated techniques you have built on your platform to strengthen liquidity?What unique protocol concept does YSL.io have that is different from other platforms?
Hardev Dhillon – Co-Founder of YSL.IO
Our protocol has been designed to ensure there is a CONTINUAL creation liquidity! This has been made possible through our protocols unique capability of creating YSL-BUSD liquidity AUTONOMUSLY (https://bit.ly/3wPq5WJ).
More importantly, all the liquidity that is generated by our protocol will be LOCKED in the locked liquidity contract (ApeSwap Finance vesting factory) for a period of 1000 years!
This integration of locked liquidity within a token economy is unlike any other BSC project, and will provide long-term stability and value to sYSL token holders!
- Deleted Account
How and where can we buy your tokens?
Hardev Dhillon – Co-Founder of YSL.IO
Our private and public sale is open to all, there’s no whitelist and everyone is welcome to participate!
The private sale begins tomorrow: https://www.ysl.io/
- @zamnfa
My question is very simple, What benefits does YSL-BUSD locked liquidity provide? can you explain to us?
Hardev Dhillon – Co-Founder of YSL.IO
One aspect of locked liquidity is that it provides assurance, enhancing an investors’ trust in the project by showcasing that the liquidity is locked and cannot be removed arbitrarily by the team.
However, the main benefit of continually creating locked liquidity relates to the sYSL token price being tied to YSL-BUSD liquidity.
In other words, any increase in locked liquidity will inadvertently result in the price appreciation of the sYSL token ?
- @KKaitokid1412
Is your platform suitable for Crypto beginners? Or does it only appeal to professional users?
Hardev Dhillon – Co-Founder of YSL.IO
We have dedicated a lot of effort to ensure the design of our interface is not only engaging but is extremely user friendly to even the most novice of DeFi users.
✅ EASY- TO-USE – A user simply needs to deposit LP tokens into any of our active vaults and our protocol will handle all the heavy lifting of maximising your returns by 300%, its that simple! ??
✅ COST EFFECTIVE – YSL.IO does not impose any Deposit fee, Performance fee or Withdrawal fee.
✅ TUTORIALS – We have created guided tutorials that provide easy-to-follow steps
? https://bit.ly/3d0Z2jp
? YSL.IO AMA winners:
Twitter segment:
- @biggdataa
- @KathDM3
- @Greyhair_08
- @Zafiyakhan2
- @ElKunMUfergie
Live asking segment:
- @shibvpron
- @WallaceFarrar (not following rules)
- Deleted Account
- @zamnfa
- @KKaitokid1412
