“AMA Recap: AMA ACADEMY x YVS Finance ” is published by Ama Academy.
On 19th of December 2020, our Host “Mr.Host” had a live AMA session with Lucas ( CEO & Founder of YVS ) and Elessar on AMA ACADEMY telegram chat.
1st Segment:
Mr Host : @yvsfinance_lucas @Elessar19101 Welcome to AMA Academy🥳🥳🥳
Elessar : Glad to be here, thanks for having us! Also hello to all of your community. Can’t wait to hear all the questions you got prepared :)
Mr Host : Can you introduce yourself and your crypto Journey to the community members?
Elessar : Of course.
I am a solidity developer for YVS finance. I have been developing in blockchain for some time now. I got interested in the crypto sphere around 2015 and I have immediately been hooked. I see great potential in DeFi and I hope I can bring some innovations with my knowledge and experience as a backend developer.
Lucas who will be joining us a bit later is financial advisor who has been working in various financial institutions in his life but at the end decided to join DeFi and help with all the knowledge he gained.
Besides that we have 2 marketing experts, designer and a few community mods which I must say are doing a fantastic job!
Mr Host : Okay. Let’s start the first segment.
Elessar : Sure :)
Mr Host : Some Question From AMA Academy Team!!
Please reply “Done” or “Next” when you’re finish answering.
Mr Host : Could you tell us what YVS Finance is? Why did you choose this name?
Elessar : 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, 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 was audited by the top blockchain security firm Hacken and there is 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 with the name and so we decided to go with a descriptive name.
Done
Mr Host : How is YVS Finance different from similar yield-farming projects?
Elessar : 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 deployed them we cannot do anything to compromise investors funds and distribution, claiming of tokens and liquidity was 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.
We are offering yield-farming, staking and vaults 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.
Today we are also launching something unique to DeFi sector — Lottery. So every investor will have a chance that with a bit of luck he will be able to earn some extra money. Each ticket will cost 0.25 YVS and every 24 hours random winner will be selected. No money goes to the “house”. 50% of deposited tokens goes to the winner and other 50% is burned to help token’s deflationary economy.
Done 👍
Mr Host : Now a days , Most of the DeFi project doing scam. Now can you tell me , Why people will believe in YVS?
Elessar : As said previously we are completely decentralized project. Almost no DeFi is doing what we did. We pre-programmed all the contracts, we don’t have any admin access to specific contract functions, all of the code was thoroughly examined by top auditing firm Hacken and the results were excellent. We were marked as well secured which is their top rank!
All of the team’s tokens are also locked so we cannot do anything to compromise tokens price and stability.
Done.
Mr Host : Segment 1 was cool👌👌
Segment 2
Okay. Let’s start the 2nd segment.
Elessar : Agree :) Great questions
Mr Host : Are you ready for segment 2?
Elessar : Ready :)
Mr Host : Now , I will send 5 preselected questions from Twitter
@hoavouuy: Trust is very important in business. So, what makes investors, customers and users feel safe when working with Your project? And how will you get the trust of many users that have negative thoughts about Blockchain and DeFi?
Elessar : We are team of experienced people. Each one has its own field that he worked for most all of his life so we are confident in our skills. I as lead solidity developer have a lot of experience writing secure, optimized and scalable code because I have helped with multiple DeFi projects and even outside crypto I have helped develop mobile applications which I am sure you have heard of.
We have everything pre-programmed and pre-audited so everything is public. We cannot hide any secret functions that could compromise our investor’s funds. Our main goal and mission with YVS finance is to give DeFi sector a secure way to invest their hard earn funds.
By being completely decentralized we negate almost all of the security issues and exploits that are happening every day with DeFi coins.
Done.
@Howardsilk100 : Currently the YVS roadmap has not been released on your website. What can you tell us in advance regarding your roadmap? what are your plans for the first quarter of 2021?
Elessar : We gave a lot of though in the roadmap. We believe every project in order to have bright future needs a solid plan.
We don’t want to follow steps of millions of other DeFi coins that are launching everyday. We want our features to be innovative and different. Today we are already introducing Lottery system which not many DeFi coins have.
We have a lot of great ideas for the future but we cannot disclose them publicly before we implement them — hope everyone can understand that.
We might also experiment with moving on other platforms such as android/iOS.
I think features have to follow projects growth and size and that’s why we don’t want fixed dates for new launches.
Done.
@Ontortk : YVSFinance has announced a partnership with Justliquidity. How does this partnership help both project? how do you see the benefits of this partnership in the long term?
Elessar : 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. By locking our tokens with them, the community has a 10 day vesting period to see all transfers and to ask why these transfers are happening, which will be publicly stated.
Done.
@ShaneNane707 : 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 : We are offering few staking options. Our staking pool which now has around 1300% APY has a 2 week locking period. Investors can also lock their funds for longer time and with that they grant themselves bigger rewards. Maximum locking period is 12 weeks which brings 10% additional rewards. Rewards however can be withdrawn at any time.
We also offer liquidity pool option where 50% of deposited tokens are locked forever. Other 50%, investor can withdraw at anytime. Tokens that are locked forever will also bring rewards forever which is always a good thing. Liquidity pool has a staggering amount of 5600% APY!
Besides 2 pools we offer 2 vaults with also high APYS.
Done.
Mr Host : Ok , Last Question from Twitter
@Ladimarputin : Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Elessar : Our contracts have no admin control. 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 external party audit was done by one of the biggest auditing firms currently on the market — Hacken
For anyone interested in more details about the audit you can visit our website and read the whole report there!
Done.
Mr Host : Thanks , Segment 2 was Awesome!!!
Segment 3
Let’s start the segment 3
For segment 3 , we will open group chat for 90 seconds. Then you can drop your questions here . Maximum 3 questions. We will select 5 Questions.
Elessar : Sounds good!
Mr Host : Thanks Everyone to Participate here🥳🥳🥳
@yvsfinance_lucas @Elessar19101 Please select best 5 questions and Give answer to our community members
Elessar : Sure, Let me pick 5 questions.
@sei_tumi2020 : What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?
Elessar : We’ve teamed up with several influencers that believe in our project and will help us get even more investors. We’ve launched successful collaborations with JustLiquidity and Hacken to provide the best security standards on the market for investors. We will be subscribing to marketing campaigns on prominent cryptocurrency sites to attract new people. We still have several other venues to reach new investors such as YouTube and more.
We provide Yield farming, Staking, Vaults and completely safe, decentralized platform!
@Daimon1122 : In how many ways your project generate revenue? What is the revenue model? How it can be beneficial for both investors and for project itself?
Elessar : 80 % of the funds collected in the presale will be used as revenue for the project. This will be used for launching marketing campaigns, providing initial liquidity on Uniswap and for exchange listings.
Our project will generate revenue from the collected burn rate and from the vaults which will continuously generate revenue from investing into underlying strategies.
@Kathdm : 💫Have you already been in contact with exchanges to list YVS soon? What can you tell us in advance regarding this?
Elessar : We have been in contact with several bigger CEX and DEX exchanges. I am afraid we cannot disclose their names because of how contracts work.
@Bestque : Tell us a little bit about security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results?
Elessar : Audit was done by top security firm Hacken. Smart contracts have 0 errors — Test results were perfect. You can see link to full Hacken report on our twitter or website.
@mcremin : What makes you feel confident about the survival & sustainable success of YVSFinance in the near future?
Elessar : We have great deflationary tokenomics. With current burn rate, funds from pre-sale we can guarantee project’s future. Besides having enough funding we have team of great minds and we have already came up with few features that are unique for DeFi sector. By being innovative we believe we can make project’s growth steady but healthy and futuristic.
Elessar : I think that is 5 :)
A lot of great question
Good community Mr Host :)
Mr Host : Thanks
Also Thanks for Host AMA in AMA ACADEMY.
If you want to share any information , You can share.
Elessar : Everyone be sure to follow us on twitter https://twitter.com/YVSFinance and visit our website https://yvs.finance/ and start staking and gaining rewards! APYs are really high now so its a great opportunity.
For any additional questions join our telegram https://t.me/YVSFinance
