On December 10th, Prasaga held an AMA at the Media Authority Community. Our guest is Lucas from YVS Finance.
Impressive interest from our Community with lots of questions on Twitter and Telegram. Let’s take a look at the most interesting points of the AMA.
Ultimate Riki: Before starting the first session, could you introduce yourself, your background and your team if you have a team working with you at YVS Finance?
Lucas: After several years of experience in financial markets across Europe in several banking and fintech companies, I have decided to leave the traditional sector and focus on developing innovative, transparent and self-sustaining smart contracts focused on decentralized financial products, as I find that traditional finance too far from the customer and customer desires.
I have completed my studies in macroeconomics and have been involved with crypto since 2017 when I started doing blockchain programming and creating mining software for crypto mining farms.
Together with my team, our goal is to build a blockchain service that requires no governance or admin control and is completely self-sufficient from deployment onwards.
We have collectively decided to remain anonymous, as we cannot have and do not wish to have any further impact on the project after the initial launch as everything will be pre-programmed. This will provide the highest security for investors.
Ultimate Riki: Can you introduce YVS Finance to our community?
Lucas: YVS is an innovative decentralized finance project that combines the best of features to create a truly unique, transparent and secure yield farming platform. As smart contracts are fully programmed prior to launch, investors can rest easy with their deposits into our projects.
All tokens, from the pre-sale to the last token distributed, are coded in the contract and are irreversible. Everything will be audited by top blockchain security firm Hacken and there will be no admin control on contracts and no exposed functions that could lead to exploitation.
Our presale starts at 11.12. and will run for 5 days, there are bonuses for early investors as well as for referrals. If you are interested I can post a promo picture for our presale.
We chose the name because it means YVS = Farm produce, dome, and stake. We didn’t want to complicate the name and so we decided to go with a descriptive name and all these features will be available on the launch date.
Best Question Session from Twitter
Q1 From @hoavouuy : What do you think if Ethereum starts to choke, DeFi will move to a new platform? And what is YVS Finance’s strategy if that happens?
Lucas: We just announced our partnership with JustLiquidity and one day we hope to build a token bridge to BSC to provide liquidity and cross-chain services on both platforms.
So our strategy is to combine multiple blockchains with our project and offer a truly decentralized experience. However, right now, we are very focused on ETH because of course, ETH has the largest user base.
But of course, that is something we need to be aware of.
Q2 From @kinymuem : Can you talk about the option to have a low total token supply in the context of Yield/Defi farming? What are the pros and cons of this particular tokenomic model? With low supply, how does this affect long-term sustainability? What happens after 3 years?
Lucas:Deflationary farming is better than existing farming protocols because investors can be 100% sure that no more than 2,000,000 tokens can exist at any given time. Over time, tokens will become more and more scarce and their value will increase.
We have a guaranteed payout period of 20 months and combined with our unique 0.75% burn rate, we will be able to reward users as long as the Ethereum blockchain itself exists. By having a deflationary token economy model, it will bring long term value to the token and assure our investors that they will be able to farm and bet for a very long time.
Along with staking, yield-farming, and vaults, this will bring many use cases for tokens and provide value to them.
Q3 From @Crypto_oppa : How does the YVS financial referral system work? Can you share with us what are the benefits for users who will work on Referrals?
Lucas: We have a 1.0% referral bonus on people who buy tokens with a referral code. This bonus will be split equally 50% / 50% between the buying user and the referrer. This is a great way to earn some extra tokens while spreading awareness about our project. We also offer daily bonuses for early investors
Q4 From @toney52820139 : What is the profit/revenue generating way to sustain your project and what is the revenue model? How can it create a win-win for both your investors and your project?
Lucas: 80% of the funds raised in the pre-sale will be used as revenue for the project. This will be used to launch marketing campaigns, provide initial liquidity on Uniswap and for listing exchanges.
Our project will generate revenue from the burn rate collected and from the vault that will continue to generate income from the investment to the underlying strategy.
Q5 From @SaraJohn6661 : I care about incentives, what incentives are there in the YVS Finance ecosystem for ecosystem users and providers? why should I use YVS Finance?
Lucas: Here are 3 reasons I believe you should invest in YVS:
Token contracts are audited prior to launch by auditing cybersecurity firm Hacken, one of the most reputable blockchain companies
Yield farming, staking and vaults with a guaranteed 20 month reward payout period, meaning that investors can rest assured of receiving their returns over a long period of time on deposits both in YVS, Uniswap liquidity pool tokens, as well as deposits in stablecoins and bitcoin wraps. Lockdown period as well as guaranteed liquidity at Uniswap with unique deposit conditions (higher returns for longer lockout periods, 50% liquidity locked forever).
A unique presale system with daily bonuses for early investors and a unique referral system that will provide members with an additional 1.0% bonus token payout split between the referrer and depositor.
I don’t think many other projects offer that much incentive to users at launch.
Question Session from Telegram
Q1: 50% of stored LP tokens will be locked forever, how do liquidity providers get their funds and earnings? How attractive is it for investors to become liquidity providers?
Lucas: Yes, 50% of the stored liquidity will be locked forever. However, you will still be rewarded for the full amount of liquidity you provided and the reward can be claimed at any time. The only limitation is that when you try to withdraw your funds, you can only withdraw 50% of the total deposited amount.
And to answer the reason, there are several reasons. The most important thing is as you said to stabilize the price of YVS in the market. By locking in half of the liquidity, trading will always be possible and with very low slippage – this is the main advantage locking in LP tokens will give us. Everyone likes projects with good liquidity on Uniswap and that is what we will provide.
Q2: What is your background and how did you come up with the idea to create your project?
Lucas: We want to offer more confidence to our investors. That’s our main goal. As previously mentioned, the contract has no owner, so once we implement it, we can’t do anything to harm investors’ funds and distributions, token and liquidity claims will be processed automatically.
We believe that the current state of DeFi is that there are too many hacks and rug pulling and we hope that with experienced coding, auditing and pre-programmed contracts, we can shed some light on the terrible things that are happening in this sector.
Q3: Where can I buy $YVS? What’s the point of holding it?
Lucas: There are several advantages to buying YVS in the presale:
First, you will receive a daily bonus for being an early supporter, which means you will get a better price.
Second, we have a very unique referral system where every user you refer, when he/she makes a purchase in the presale, both of you will split the 1.0% referral bonus equally. So when you invite friends or other people in your community and they buy tokens, you both receive a gift!
Minimum investment limit is 1 ETH and maximum 50 ETH. The base price is 1 ETH = 45 YVS and the hard cap is set to 100,000 YVS tokens. The initial price on Uniswap will be set to the base price.
Q1: About tokenomics? Can you give us an overview of tokenomics? Are tokens designed to go up and down with the success of the platform? And does it include scarcity paths like peg, save, or burn?
- Total supply: 2,000,000$ YVS (without printing)
- Presale: 100,000$ YVS (30% locked in Uniswap for 1 year)
- Burn rate: 0.75% on each transfer (except to the staking pool)
- Developer level: No developer level
Burn value is used to fund prizes after the initial 20 month period and is active on all transfers except from/to the bet pool. Due to limited total supply and no minting capability, we have a deflation token system with a constant amount of rewards per day – this will balance inflation on a longer basis and give tokens long term value.
Q5: We’ve seen a lot of Defi tokens over the last few months that offer high APY rewards for staking and farming with no clear value proposition (other than farming) quickly lose their value as people farm and throw away their tokens. What is the unique value proposition that YVS Finance will provide their end users (unique from current dex aggregators like 1 inch)?
Lucas: Firstly, since all the core features of this project will be pre-programmed, it is impossible for us to set false APY rates or change any parameters in the contract itself. This means that investors will actually receive the calculations that our platform shows them.
Second, investors should choose YVS Finance because they can rest assured that no token printing can happen at any time. This functionality is disabled in the smart contract. So instead of trusting the development team not to create more tokens than promised, why not opt for a completely programmatic approach that can provide 100% transparency and trust.
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