We are pleased to announce our next AMA on November 13th 2020 at 04:00 PM UTC Time: Satoshi Club x Yield Farmer DAO
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Yield Farmer DAO Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Yield Farmer DAO Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Yield Farmer DAO
For more details:
Yield Farmer DAO – @yieldfarmerdao
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Liquidity factor is a problem for DeFi projects with their tokens, so does YFDAO have any liquidity program to encourage natural token demand and liquidity?
Do you have any new partneship recently? And what advantage of this partnership to the project?
What are the great achievements that $YFDAO has achieved so far and what is the killer feature of $YFDAO?
YFDAO is the combination of multiple leading-edge concepts, code and technologies.. Can you sure with us some of the leading edge concepts and technologies that YFDAO is Integrating into it’s Ecosystem and how you intend to remain unique while integrating this Concepts
Correction: Can you **Share** with us, not “sure”
YFDAO team member names will remain undisclosed to keep the platform KYC free..it is believed that as DEFI which includes projects like yours gradually grows it will eventually fall under the scope of Global Regulators are you not concerned about this… how do you intend to bring in regulation to YFDAO if there is No KYC
YFDAO will launch an initial heavily incentivized consensus protocol to grow the early adopter user base… How will YFDAO fund this heavy incentivizes in its early stage and since you are still in your early stages what are the programmes with heavy incentives in YFDAO at the moment
YFDAO is charging a fee of 0.1 eth (about $46) in order for stakers to claim their farmed yield tokens, this is in addition to Gas fees to be paid. Isn’t this excessive and would it not discourage people from using YFDAO if they have to pay $46 everytime?
Your Whitepaper mentions that Farming rates are dependent on five different components. Can you explain how these five different components affect the returns that can be expected from farming?
In an era where new projects are only minting a total supply of tokens in the thousands in order to create scarcity. Why did you choose to create 10 million tokens? Won’t the inflation cause the price to constantly dip?
I see that the YFDAO transaction fee will be paid using ETH. Claiming of staking rewards 0.01 ETH and for farmed yield 0.1 ETH. This is quite high numbers and not very attractive to farmers. Why are you implementing such high transaction fees especially now there are huge number of farming platforms that are offering good profits too?
I read your whitepaper that HEX token is one of the initial 30 tokens chosen by YFDAO for farming, why did you included HEX or what is the guidelines you used in selecting the initial 30 ERC20 Tokens?
Your staking system says: “Lock YFDAO for 30 days and earn 350% APY”. This APY is great! What is the minimum amount to lock in order to receive it? Is there only one option or do you have other pools with different amounts and different APYs? Finally when are the earnings distributed?
With YFDAO Liquidity Mining system, users will be rewarded with YFDAO-uni-v2 tokens if they provide liquidity on Uniswap. This rewarding token can be staked to earn YFDAO tokens, but what else can YFDAO-uni-v2 token be used for? What are the options for me when I decide to stop staking? Can I convert/trade with other tokens, maybe YFDAO?
Have you entered partnership or agreement with some of the platforms that included in the initial listing in your staking program or any companies that can help your platform grow faster?
Does this token offered by the YIELD platform have a governance system?
You did not offer me in-depth information on your YIELD platform about the method you implement for the security of customer funds, could you give me a short instructional tour to achieve full confidence in the project?
They tell me that YIELD, I can deposit and withdraw directly to my bank account, which banks are accepted on their platform?
I have been able to see that the concept and utility of YFDAO is a bit complex, but could you give us more details of what are the combinations of multiple concepts, codes and cutting-edge technologies that make up this project? and how far do you want to go?
if really the cultivation rates are not constant, but are subject to change daily, why betting and being part of the community of a project that my earnings may decrease depending on the fluctuation of the crop? And what really makes the crop fluctuate?
How functionally valuable is the YFDAO tokens that motivates me to exchange any of the first 30 ERC20 tokens for $ YFDAO? because really the other ERC tokens turn to dust and the YFDAO doesn’t?
You really need an ETH gas expenditure for the purchase and sale of the tokens in Uniswap, but why implement consuming ETH gas in the YFDAO agriculture? Why not just use and consume native tokens from the project, which will eventually be burned?
The yield farming is increasingly famous in the crypto lover community as a system to put our money to work. However, many protocols and projects preach “having the best yield farming system of the moment”, so my question arises: How is Yield Farmer DAO’s yield farming different from other projects? What improvements have you applied? Why should I prefer you?
– You write in your documentation that “Farming rates are subject to change on a daily basis and the accumulated yield fluctuates with the changing farming rates” Does this mean that our profits will not be constant? and if so, which factors or elements will enhance the yield and which will decrease it? Can we do something about it?
Can you explain to us a little bit the process of how the liquidity providers get YFDAO-uni-v2, and how they can transform them into $YFDAO and generate profits?
You have a long list of ERC20 tokens in your whitepaper for farming YFDAO. So can you tell us what is the most recommended token we can farm in your platform? Can we farm different tokens at the same time? Can you explain more about the farming strategies of your platform? Thank you
I see there’s a poor website design and interface you guys did.That’s really demotivating for creating common trust for investors. Planning to expand flashy design?
Do you have any plan to launch staking 2.0 or in simple words second token to reward YFDAO stakers?
YFDOA uses a token buyback model where the team buys back the YFDAO token from Uniswap with funds coming from 50% of collected fees (.01 ETH staking fee and .1 ETH farming fee adjustable through community vote). The remaining 50% will be allocated to the marketing fund for peak token performance.
What do you mean by peak token performance ? Why do you have a different buy back rate for staking and farming ?
The YFDAO asset farming list contains mainly on defi tokens, with the rest being exchange token like huobi, bilaxy , leo, cro . How is this list of tokens chosen ? How often will the dao vote on the items in the list ?
If we want to earn trust from investor, they willing to know all detail about your project including how big are your team, Could you please introduce YFDAO team to us?
For Farming in YFDAO, Do all wallet applicable with your farm platform? what wallet did you recommended to use if we want to farming in YFDAO?
I understand there is staking and farming on YFDAO website and we can earn with it but on website says, YFDAO enables participants the ability to select the latest and hottest ERC 20 tokens to farm
and earn with them.
How you made it possible to stake other tokens in your platform,you don’t get anything from their transactions like you get on YFDAO token? What you do with invested ERC 20 tokens on YFDAO platform, where are they used so they gain profit? What token we earn trough staking, do we get staked token or YFDAO token?
In Q1 2021, you are planning to release a mobile wallet. Have you already thought over the system of security and safety of personal data of users? And will all mobile devices be able to support this application, what will be the minimum technical requirements?
Can you elaborate on the DEFI product that will be integrated with YFDAO? What are the next apps that we can expect on this part?
What is YFDAO Hedge Vault? What hedging tools are available to users? Will the list of features be added?
Burn per transaction is set to 1% which is not so high comparing to promising APY, YFDAO is promising APY 350% +
How is this possible when burn per transaction is only 1% and it got shared between stakers?
Yesterday, your contract was not available for study. I suspect that no one has audited the contract either. The questions are simple. Where is the contract? Will there be an audit? What, in principle, are you ready to provide investors as proof of your work?
As stated in your social channels and whitepaper, YFDAO has developed a working DAPP which offers users the chance to stake and farm on more than 30 crypto tokens. Among these 30+ coins there are names like LINK, SNX, SUSHI, CRO, COMP, YFI, BAL and many other notable ERC-20 coins (which participants will then be able to lock in the YFDAO platform to earn the YFDAO flagship token). What is the rationale behind the choice of this initial basket of ERC-20s? Or would you say these tokens randomly picked by the decision-making team without giving this aspect too much thought?
What coins and tokens will be featured on the platform and will there be a place in your ecosystem for NFTs?
I went through the token metrics and beyond the usual total/initial supply/token price listing/locked liquidity information etc… what truly caught my attention this time was the claiming fees entity.
We’re used to seeing in most ERC-20 related crypto projects that the fees are paid in ETHs and – while a 0.01 ETH staking reward claim fee is commonplace in many DeFi projects – YFDAO fee structure envisages also a 0.1 ETH farming reward claim fee.
So, since the base yield farming rate is set at a 30% APY (that’s “just” a 2.5% per month) and with the current value of ETH being around a 45$ fee (probably higher in the near future) and also the very high network congestion… don’t you think this might impose a big toll on potentially smaller investors and leave the platform open only to whales who possess way bigger capitals to invest?
In the whitepaper it’s stated that, in order to grow the user base and YFDAO adoption, you will incentivize the gravitation towards the platform (of developers, new members and other stakeholder in general) via NOT ONLY the traditional staking, farming, DAO voting and hackathons but also via DAO toolkits and “experiments”. Could you please tell us more about these last two items of the list? What do you mean with DAO toolkits? And what kind of experiments do you have in mind to bring users to YFDAO ?
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?
As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain its project and also the team that are working hard during this pandemic?
What is your most ambitious goal of your project? We would appreciate it if you could share with us any Upcoming Updates?
YFDAO users decide which coins will be developed on your platform. Is this happening as a vote? How many coins can each member vote for and how often do you update this list?
how much is your project supply . will there be a burn or buyback?
what are your project shortcomings? has a plan to burn the token token fee many projects for which the fee from the transaction is burned
If public thinking thinks your project is a scam, how do you make it public believe your project is good “Please answer. Many projects that deceive and harm people”
Some YFDAO profits is that the initial staking rates will be fixed at 350% APY, expecting it’ll decrease in time. But, APY can be adjusted on a curve, how often happens these adjustments on the curve and will the community have any voice?
To earn YFDAO investors need to deposit the allowed tokens with ERC20 protocol. Where people can make these transactions and what is the minimum and maximum amount for it?
I have read all your whitepaper and didn’t found a very important subject: security. How is Yield Farmer Dao planning to protect his data and protect the users from external attacks?
The YFDAO development team have initially chosen the first 30 cohesive and highly desired ERC20 tokens. Why only chosen first 30 ERC20 tokens? How important is it for this project?
I saw your project website and found this information that
‘1%
Burn on transactions’
How this system work on YFDAO?
What’s the benefits 1% Burn on transaction? Can you please give me some more details about burning?
Why did you choose to have weekly marketing bounty and what bounties are you planning to have? for the 50% eth allocation?
What specific ERC20 tokens are you referring to that can be made into a passive income within the YFDAO Ecosystem?