Thank you to everyone who joined AMA Blockelite x YVS Finance on 12th December at 1 PM UTC I 8 PM UTC+7. Here is the recap for those who missed this AMA.
Segment 1: Introduction about YVS Finance and Elessar – Lead developer at YVS Finance
Q1: Can you briefly introduce yourself as well as YVS Finance?
Elessar – Lead developer at YVS Finance: Sure. I am the lead developer at YVS Finance. With extensive backend programming experience across Europe I teamed up with Lucas who is working as financial advisor and a couple more marketing experts to create something unique for you!
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.
Our presale started on 11.12. and will run for 5 days, there are bonuses for early investors as well as for referrals.
We chose the name because it means YVS = Yield-farming, vaults and staking. We didn’t want to complicate with the name and so we decided to go with a descriptive name
Blockelite Host: Are there any conditions for participating in the presale? Do you need KYC to join?
Elessar – Lead developer at YVS Finance: No conditions. Everyone can enter the presale with minimum of 1ETH and maximum of 50ETH.
You can also use a referral code or create one to share a bonus of additional 1%.
You are also eligible for daily bonus. So sooner you get in more YVS you get!
Q2: How is YVS Finance different from similar yield-farming projects?
Elessar – Lead developer at YVS Finance: Great question to start this off!
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.
Q3: What do you mean by “no admin control” and why is this important for investors?
Elessar – Lead developer at YVS Finance: 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.
We have completely removed any access to sensitive functions and all the distribution is pre-programmed which means that investors can be sure about their tokens and have no fear from exploits.
Our entire contract repository will also be audited already before launch so that everyone can see that we’ve built a truly transparent and secure platform.
This means hacks that happened to Pickle, Harvest, Compounder and many others cannot happen here.
Q4: Will the contracts be audited and by whom?
All the contracts will be audited already before launch by the renowned blockchain auditing firm Hacken, one of the best, if not the best, cyber-security firm on the market. The audit report will be released soon, so make sure to follow our Telegram and Twitter to receive all the latest news.
We’re certain that we’ve chosen the best possible auditing partner for our project and it will prove the quality of our services.
Segment 2: 5 best questions from Twitter
Q1: You said that everything on YVS Finance are pre-defined, no rug-pulls possible, but I still didn’t understand how can ‘pre-defined’ can guarantee it. Can you explain in detail how can pre-defined thing can prevent YVS Finance rug-pulls?
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.
Every contract that is deployed from YVS Finance is pre-audited so no code bugs are possible. After the deployment contracts cannot be changed and we don’t control them anymore. Everything that we want to happen with the project is already defined in the contracts and can be examined by everyone.
Q2: There are many rumour that Yield based token will be abandoned by investors in this near time because many people realized that Yield Farming just a way to earn more token but also decrease it’s value. What make you believe YVS Finance will survive on this trend?
We have implemented a locking period of 2 weeks for every deposit. You can also extend that period and get bonus rewards. We will also be providing VIP private pools for those staking YVS tokens. This will minimize the selling pressure as investors will have initiative to hold their tokens for longer period.
Blockelite Host: Is the project planning to buy back / burn token in the future?
Elessar – Lead developer at YVS Finance: Maximum locking period will be 12 weeks. If you decide to stake for this period, you will receive and a additional of 10% of rewards.
I want to add this to the previous question.
Buyback is still in question. There are cases where this could happen. It depends on the project and growth of it. We want to achieve steady and healthy growth as only with that we can guarantee YVS’s future.
Q3: Roadmap is really important thing to make investor learn and believe about your project, but I can’t find the YVS Finance roadmap. Can you share us YVS Finance roadmap? How was YVS Finance journey from beginning and what are the next YVS Finance plan?
Elessar – Lead developer at YVS Finance: We are at the very early stages of the project. Currently we are at the presale phase. As previously mentioned everything is already pre-programmed so at the launch you will already be able to use staking pools and vaults with extreme security. Future goals are that we expand to mobile platform with an application. We have some more innovative ideas like -no admin control- for the 2021 but we cannot disclose them yet – hope you can understand.
Q4: Staking is the new trend. What staking options are available for YVSFINANCE token? Are there any incentives for staking? What are the various ways to earn YVSFINANCE token and are there any limits to amount of $YVSFINANCE I can earn?
Elessar – Lead developer at YVS Finance: You will be able to stake in YVS staking pool with 20% rewards distribution. In addition to that we will over YVS-ETH liquidity pool option with 65% reward distribution. Along with that we will offer two vault pools – stablecoins and wrapped bitcoin which will share a 15% of reward distribution.
You will be able to lock your tokens for longer period of time which will increase your rewards. Maximum of 12 weeks which will bring you an additional of 10% to your reward payout.
There is no limit to amount of YVS you can earn.
Investors in YVS staking pool will also have access to VIP pools which will grant an additional passive income over time.
Blockelite Host: Can I unstake at anytime?
Elessar – Lead developer at YVS Finance: There is a locking period of 2 weeks. After that you can unstake whenever you want. Of course the longer you keep your coins locked the more bonus rewards you are getting 🙂
This is mainly in place to negate the selling pressure that we see a lot of coins fall victim to.
Q5: As I Know most of the farm coins will fail on Token Metrics only because they suffer from high APY and are constantly printing new tokens. How does YVS deals with this situation and offset the selling pressure?
Elessar – Lead developer at YVS Finance: 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.
Segment 3: Live questions.
Q1: What are the benefits for long-term investors? what makes $YVS unique ?
Elessar – Lead developer at YVS Finance: 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.
Q2: You stated that YvsFinance started its Presale yesterday, where can we participate?
Elessar – Lead developer at YVS Finance: You can participate through our website: https://yvs.finance/presale
On there you will find quick video guide how to use referral system. We offer daily bonuses so quicker you buy it more YVS you get 🙂
Q3: What is your strongest advantage that you think will make your team leading the market?
Elessar – Lead developer at YVS Finance: Our team’s programming knowledge that makes YVS platform a secure, scalable, professional opportunity for investors to earn passive income without having to worry for their investments. Our tokenomics are designed in a way that project will last.
Q4: 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?
Elessar – Lead developer at YVS Finance: All smart contract code is being audited by Hacken – one of the best auditing firms there is. Results are going to be published soon. One of the biggest challenges we faced was designing project so it can last a long time and be attractive to investors while having everything pre-programmed.
Q5: Can you list killer features of YVS Finance that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Elessar – Lead developer at YVS Finance: On top of our brand new good looking website we offer many cool features!
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.
A lot of great questions. Thanks everyone, if you would like to know more feel free to join our telegram or check our website https://yvs.finance/
Our AMA session is now over !!!
More information about YVS Finance
🌎 Website: https://yvs.finance
📃 Whitepaper: https://yvs.finance/files/whitepaper.pdf
📱Twitter: https://twitter.com/YVSFinance
📢 Telegram: https://t.me/YVSFinance
📢 Channel: https://t.me/YVSFinanceNews
🗄 Repository: https://github.com/yvs-finance/yvs-protocol
