On June 25th 2021, our community had a chance to welcome Mr. Hardev Dhillon Co-Founder of YSL.IO to join in an AMA to give fruitful information about the key features and roadmap of YSL.IO – a cutting-edge DeFi tool designed to OPTIMISE & AMPLIFY returns from yield farming platforms through sophisticated techniques 🚀

This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the lastest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.

At this AMA, Mr. Hardev directly greeted the community and provided detailed information on YSL.IO as well as some key products and future plans.

Time: 09:00 PM (UTC + 7) on Friday, June 25th, 2021

Venue: https://t.me/CryptoFamilyGroup

Airdrop 200 USDT for the best questions in the AMA.

Below are some main points of this AMA:

Question for Part 1- Project overview

Question 1: To kickstart today’s AMA, please introduce briefly about your team and some key features of  YSL.IO

Mr. Hardev: Hi Everyone 👋🏻
Its great to e-meet you all today, and thanks for tuning into this AMA!
I am Hardev Dhillon, the Co-Founder of YSL.IO 

Let me begin with a brief intro of Simran Dhillon, the other Co-Founder of YSL.IO. @simran_ysl has diverse professional background across IT and Business, and has notable industry experience with companies such as Microsoft and HSBC. More importantly, he is a crypto veteran 💪 that has garnered significant experience within the crypto space, both as  a programmer and working in the background as an advisor for a number of Blockchain projects including Zencash (which is now known as Horizen).

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 love numbers!). I have broad experience across banking/accounting (HSBC, Westpac, KPMG, and Deloitte), which has allowed me to appreciate the importance of driving error-free standards for compliance, develop strategic plans for transformation, and create risk frameworks for the evaluation of a range of sectors/functions.

In addition to @simran_ysl and myself, we have a dedicated team of blockchain developers + UI/UX designers focused on the development of our smart contracts and platform. Each of them are experts within their respective fields and are all busy working their magic behind the scenes   to ensure we can deliver the best possible version of YSL.IO for our 11k+ community. We also have a marketing team that are hard at work, drumming up informative articles and materials that will help spread awareness of our unique concept.

Here’s a quick overview of YSL.IO stands for and some of our stand-out features:

YSL.IO 💎  = [ ️ Yield + 💗 Staking + 🌊 Liquidity  ] = 🚀

YSL.IO is a cutting-edge DeFi tool designed to OPTIMISE and AMPLIFY the returns from yield farming platforms, whilst maximising the benefits of LOCKED LIQUIDITY to create a truly unparalleled token economy.

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%

CF: You guys can explore more about YSL.IO through this resourceful article https://cryptodaily.io/introducing-ysl-io-maximising-yield-farming-returns-by-300/

Question 2: Please share a few major milestones that YSL.IO has achieved during your development process.

Mr. Hardev: I’d be happy to, we’re extremely proud of what we have accomplished so far, although these efforts are mostly behind the scenes its an aspect that has really propelled us to develop the best possible version of YSL.IO!

Here are some of our recent milestones:

Smart contract development
Gitbook Release (23k words)
Partnership with Peanut (NUX)
Partnership with ApeSwap/BUIDL 
Frontend development (UI/UX)
Scheduled 20 pre-Launch WeChat AMAs
Scheduled 50+ pre-Launch Telegram AMAs

Here’s another great article 👉 https://bsctimes.com/ysl-io-optimising-amplifying-your-farming-returns/

Question 3: Are there any hot news or big events to attract more users in the coming time?

Mr. Hardev: Until the platform launches, we do have some exciting benefits during the Price Discovery Phase to attract more participants:

Bonus multiplier 

Our bonus multiplier will effectively add a bonus on top of any deposits that you make!
During the private sale the 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 🤯

10% Referral bonus program 

We are also running a referral bonus program during the price discovery phase, where you can earn 10% on the contribution made by those you refer. So if you were to refer someone that had a $60k contribution you would get back $6k worth of sYSL tokens at the end of the discovery phase.
More details can be found here 👉 https://docs.ysl.io/ysl-io/ysl-core-protocol/price-discovery-participation

Questions for Part 2 – Pre-collected questions from Twitter:

Question 1: Please tell us what makes yield farming on your platform superior to other popular platforms nowadays? How can you guarantee the returns of a farming position by 300% ? Is your team economically capable of running this project and maximaize the users profits? @ArinaHaaa

Mr. Hardev: Great question. So traditional optimisation involves harvesting and compounding interest daily.
However, YSL.IO challenges the status quo by being different. 
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% 🚀

More details on our revolutionary Optimisation & Amplification functions can be found in our Gitbook (👉docs.ysl.io)

Question 2: Once the product is developed and launched, one of the main challenges seems to be adoption. What are some of the plans to foster adoption and build the ecosystem around #YSL? @iseker1905

Mr. Hardev: We recognise the value of community engagement on awareness and adoption, and we plan to release informative articles and videos to help convey all the benefits of our unique protocol.
We’ve dedicated much effort into creating a comprehensive Gitbook that has an extensive collection of examples and guided tutorials that cover all aspects of YSL.IO. 
We have also scheduled over 70+ AMA’s with several local communities based all across the globe, including China, Vietnam, Indonesia, Malaysia, Singapore, Korea, India, Turkey, and Iran. 
We are also having our comprehensive Gitbook translated into several languages, this will help ensure our concept is better understood in the countries/regions where English is not commonly used.

More importantly, we have also 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.

Question 3: One of DeFi’s problems is the high complexity in its products. Could you really tell us about how YSL.IO achieves simplify performance agriculture and reduce costs for users, without affecting the proper functioning of the products? @Lidiamga

Mr. Hardev: Typically there are two common pain points faced with farming: barrier-to-entry and the costs involved. In view of this, we designed our platform to be extremely cost effective from a user’s perspective!

ZERO SWAP FEES
ZERO DEPOSIT FEES 
ZERO WITHDRAWAL FEES
ZERO PERFORMANCE FEES  

This not only provides the user with ultimate flexibility but also makes it extremely easy for a user to benefit from our protocols exceptional yield optimisation and amplification functions, simply deposit LP tokens into any of our vaults and our protocol will handle all the heavy lifting of maximising your returns, its that simple!

Question 4: As I know, strong backing and partnerships in the crypto market might bring huge benefits to new projects. During this point, can you tell us about the investors and partners of your project ?  What benefits to the YSL.IO ecosystem do you expect from them? @Maley071627334

Mr. Hardev: Our partnership with ApeSwap has been incredibly beneficial to our development process, as we were able to utilise the locked liquidity contract offered by their special vesting factory, so all liquidity generated autonomously by our protocol will be locked away for 1000 years. 

And more recently, we were lucky enough to also have been accepted into the highly coveted ApeSwap BUIDL program!
This is huge for YSL.IO in terms of increasing the awareness of our project, as they have a growing user base of over 400,000! 

Not only that, it will enable us to collaborate and form meaningful partnership’s with other projects within the ApeSwap ecosystem to increase our reach! 

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

We also formed strategic partnership with peanut.trade, whereby NUX-BNB liquidity providers will be able to benefit from our protocols novel optimisation function that autonomously creates YSL-BUSD locked liquidity.

Question 5: Launching projects in a bull run is obviously much profitable than during the bear cycle. In a bear run where most of the projects fail and sometimes have gone into oblivion, how will YSL.IO stand the test of times? What strategies do the project employ to mitigate possible losses? @MrDung732002

Mr. Hardev: Its true that a bull run would be a great time to launch, however I also strongly believe that the key to real success as a project is to have the fundamentals down in terms of long-term stability and value for native token holders – this is something I’d say isn’t present in many of today’s projects.
YSL.IO is here to stay and show that yield farming can be sustainable long term. 
So from the outset we decided the best way to make this happen was to ensure that our token economy would be resilient, even in a bear market.  

We have achieved this by designing a truly unique Tokenomics model that revolves around our protocols novel capability of autonomously creating YSL-BUSD locked liquidity. T
The benefit of this novel design 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%.  
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 🤩

And 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! 🚀
YSL.IO TVL = YSL-BUSD liquidity =  sYSL token price

PART 3: BEST LIVE QUESTIONS CRYPTOFAMILY GROUP

Question 1: Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

Mr. Hardev: 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 – It will increase the APR of a users CAKE-BNB position on PancakeSwap from 58.29% to 173.67%!

ZERO PLATFORM FEES
ZERO SWAP FEES
ZERO DEPOSIT FEES 
ZERO WITHDRAWAL FEES
ZERO PERFORMANCE FEES  

Simply deposit LP tokens into any of our vaults and our protocol will handle all the heavy lifting of maximising your returns, its that simple!

PRICE OF NATIVE TOKEN LINKED TO TVL OF PLATFORM

Unlike other projects, the price of our native token is tied to locked 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!
YSL.IO TVL = YSL-BUSD liquidity =  sYSL token price 🚀

Question 2: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is it like this? If not can u tell us, What makes it different from other projects?

Mr. Hardev: Yes a lot of projects nowadays promise magic with just a whitepaper, but we believe in putting the horse in front of the cart and not the other way around 😂
YSL.IO will be a full product launch! Our platform will be a fully operational with live vaults and will launch regardless of what is raised during our private & public sale. 
More importantly, the platform launch is not hindered by the performance of our private + public sales. It would only mean a greater upside potential for the price of the sYSL token. 
This is due to our protocols unique capability of auto-generating liquidity whenever a user interacts with the platform. 
As a result, as users  begin depositing LP tokens on YSL.IO, the amount of YSL-BUSD locked liquidity being created increases,  which will causes the price of sYSL to increase! 🚀

Question 3: Liquidity is the challenge of defi, how does Your Project solve this problem?

Mr. Hardev: That’s exactly right, liquidity is an integral part of any DeFi ecosystem, and that’s why we’ve made YSL-BUSD liquidity the heart and soul 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!

Question 4: What is PROJECT’s revenue model? In which ways do you generate revenue/profit?

Mr. Hardev: Our protocols revenue is sourced from four aspects:

1️. Optimisation – An equivalent of 2% collected from the APR (%) of the token being optimised
2️. sYSL exit fee – An equivalent of  2% collected when sYSL is sold
3️. sYSL entrance fee – An equivalent of 2% collected when sYSL is purchased
4️. Inflation block reward – 20% allocation, distributed on each block 

The revenue collected will go towards ongoing operational expenses, including maintenance/development of the protocol, remuneration for engineers/developers, and to cover expenditures for ongoing audits and marketing. The mechanism behind how these are collected can be found in our Gitbook (👉 https://bit.ly/3wQJM0y) 

It’s important to note that those that stake in the sYSL vault & YSL-BUSD vault will also benefit from these same four aspects:

1️. Optimisation – An equivalent of 8% collected from the APR (%) of the token being optimised – Contributed to the MONTHLY BUY-BACK
2️. sYSL exit fee -An equivalent of  8% collected when sYSL is sold – Contributed to the MONTHLY BUY-BACK
3️. sYSL entrance fee – An equivalent of 8% collected when sYSL is purchased –  Contributed to the MONTHLY BUY-BACK
4️. Inflation block reward – 80% allocation (50% to the YSL-BUSD vault & 30% to the sYSL vault), distributed on each block

Question 5: You will airdrop sYSL token to your community, but if you don’t mind, please share any functionality that sYSL token has in your ecosystem. Can you talk about all the advantages of having the sysl token?

Mr. Hardev: 1️Block Rewards!
Those that stake in the sYSL vault and/or YSL-BUSD vault will earn a share of the AUTOMATED MONTHLY BUY-BACK and INFLATION REWARDS that are distributed on each new block! 🤩

2️sYSL is tied to YSL-BUSD locked liquidity!

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!🚀 Not only that, the increase in locked liquidity will also create a progressive price floor for the token and mitigate its exposure to price volatility!
YSL.IO TVL = YSL-BUSD locked liquidity = sYSL token price 🚀

3️ Cross-Chain Airdrops!

Each time we launch onto a new chain we will airdrop 15% of the new token supply to those staking in the sYSL vault.

For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:

– Website: ysl.io
– Twitter: https://twitter.com/ysl_io
– Telegram: https://t.me/ysl_io
– Telegram Vietnam: https://t.me/ysl_vn
– Gitbook: https://docs.ysl.io/

 

 

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