YVS Finance AMA Summary with Decentralized Club ✔️
Dear, Community,
Welcome to the recap of our AMA with YVS Finance.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what YVS Finance is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉
✔️Introduction with YVS Finance :👉
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Q1. Can you please introduce yourself and Could you tell us what YVS Finance is? Why did you choose this name?
Lucas @ YVS:
Sure, let me say something about my background first
Hello everyone, I’m Lucas! 👋🏼
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.
Together with my team, our goal is to build blockchain services that do not require governance or admin control and are completely self-sustainable from the deployment onwards. We have collectively decided to stay anonymous, because we can not 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 bring the ultimate security for investors.
I have only worked as a solidity developer for projects in the past, but this is the first stand-alone project we’re releasing. You can check out Centrifuge for a project that I’ve worked for before, but that comes more from the financial sphere. :)
That’s something about me and let me present our project now 👍🏼
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Very Interesting🙂
👌
Lucas @ YVS:
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 yesterday and will run for 4 more days until Wednesday, so there is still time for you to join if you’re interested!
Done ✅
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Okey, next question coming…
2. How is YVS Finance different from similar yield-farming projects?
Lucas @ YVS:
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.
Done ✅
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Thanks for the quick answer😉
Next question…
3. What do you mean by “no admin control” and why is this important for investors?
Lucas @ YVS:
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.
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.
Done ✅
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Okey, last question..
4. Finally,Will the contracts be audited and by whom?
Lucas @ YVS:
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.
Done ✅
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Thank you Lucas, super insightful and very easy to understand.
🐧Community ask Questions by Twitter ✔️
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 1.
Username : @Kvindvr
I’ve seen through YVS Finance website, but there’s no information about YVS Finance product except Presale. So wanna know how great and better to Yield-farming, vaults and staking on YVS Finance rather than the other similiar projects?
Lucas @ YVS:
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.
Also, the following is very important to understand to see why we are different from similar projects:
Firstly, because all the core features of the project will be pre-programmed, it will be impossible for us to set fake APY rates or change any of the parameters in the contracts themselves. This means that investors will actually receive the calculations our platform will show to them.
Secondly, investors should choose YVS Finance because they can be certain that no minting of tokens can happen at any time. This functionality is disabled in the smart contracts. So instead of trusting a team of developers to not create more tokens than promised, why not choose a completely programmatic approach which can provide 100 % transparency and trust.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 2.
Username : @Mary47229678
If there is a mistake in the smart contract that leads to a big security breach, would the project be completely destroyed because the smart contract cannot be modified?
Lucas @ YVS:
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.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 3.
Username : @RahulJayaraj9
Could you give us more information about the $YVS token distribution?Is pre-sale only the option to get $YVS or can we buy it from an exchange?Also tell us about the buring program of $YVS?
Lucas @ YVS:
Tokenomics:
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 the presale is the only way to reserve YVS tokens but when we launch, the tokens will be available on Uniswap.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 4.
Username : @Clarasaktii
is there any advantage for developers if they get bugs on your platform? and Is there an Insurance Fund in case of hacking and loss of funds and user information? What steps do the YVSFinance team take to anticipate this from happening?
Lucas @ YVS:
We ensure the highest security standards for our project by getting an official done by one of the best blockchain security firms in crypto — Hacken. We believe with this decision we will be able to prove to all investors that we take security as our primary concern. By providing a full audit review prior to launch and by having all functionality pre-built into the deployed contracts, there is no doubt that we are building a trustworthy and transparent platform.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 5.
Username : @Emidm28
After the YVS token pre-sale ends, what will you focus on? What will you work on next?
Lucas @ YVS:
After the presale concludes, our smart contracts will automatically launch our 4 pools (staking pool, liquidity pool and two vault pools). The reward distribution will start and continue for 20 months.
While that continues, we will work in the background on new features and new partnerships and also bridging our token to several other blockchains.
We will have many more exciting news to share as we go on!
Those were great questions from Twitter!
✍️ Telegram live Questions answered by YVS Finance ✔
Emma Sophia ( THE CAT LOVER 🐈):
I am a professional vulnerability finder on the web, do you think Your system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?
Lucas @ YVS:
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.
Bounties for bugs could be given out when we plan to release a new functionality and we would like individuals from the community to verify our code before we send it to an auditing firm.
Emi 💌:
Do you have a tutorial available with the steps to follow to participate in the pre-sale? Is there a minimum required amount of YVS token that we must buy or can we buy the amount we want?
Lucas @ YVS:
There is a video guide and a written guide available on our presale page https://yvs.finance/presale . Minimum required amount of deposited ETH is 1 and maximum is 50. There is also daily bonus which means sooner you buy the more bonus you get.
Our presale is unique in one more way and that is that we offer referral bonus. More about that you can also find on our website.
Mr. Dhamu | Đecentralized Člub:
Can you pls explain about the staking work in YSV because it doesn’t have a burn rate included, how much is the APY of this staking, does it include a daily bonus, too?
Lucas @ YVS:
Staking is the process of holding native tokens in a so-called staking pool which pays out rewards for locking the tokens for a certain amount of time. We will be offering a staking pool with attractive rewards starting with a 2 week locking period. The maximum locking period will be 12 weeks and if you decide to stake for this period, you will receive an additional 10 % of rewards.
As you’ve mentioned, transactions to the staking pool will not have a burn amount to prevent users from using their investment amount.
The APY is still unclear at this moment as it depends on many factors such as price, deposited amount, etc. but it should be high during the first few weeks for early supporters.
Sonic 💪:
Can you explain the partnership between Justliquidity, what is the form of cooperation? What is on the role of Justliquidity in the YVSFinance ecosystem?
Lucas @ YVS:
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.
Kath:
✨What is the minimum amount of YVS that we must purchase in order to participate in your pre-sale? is there a maximum amount too?
Lucas @ YVS:
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.
You have about 20 more minutes to join now and receive a 12.5 % bonus!