Crazy November has begun and doesn’t let us get bored. Amarathon is unstoppable! Today we would like to tell you about the AMA session with our friends from YFC. The AMA took place on November 04 and our guest was John B Lewis, founder and CEO of Yearn finance center project (YFC).<\/p>\n\n\n\n
The total reward pool was 600$ and has been splitted in 3 parts.<\/p>\n\n\n\n
In this AMA Recap we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Mary | Satoshi Club:<\/strong> Hello, Satoshi Club! We are happy to announce our AMA session with YFC ! welcome to Satoshi Club:grinning:<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>hello all!<\/p>\n\n\n\n John Lewis | YFC:<\/strong> Hello Everyone 🙏Thanks guys, happy to be here 😃<\/p>\n\n\n\n D. | Satoshi Club:<\/strong> let’s start with introduction John! please tell us about yourself and YFC<\/p>\n\n\n\n John Lewis | YFC: <\/strong>My name is John B Lewis, founder and CEO of Yearn finance center project (YFC) Mary | Satoshi Club: <\/strong>Your background is expressive)<\/p>\n\n\n\n John Lewis | YFC: <\/strong>Thanks Mary 🙏<\/p>\n\n\n\n D. | Satoshi Club:<\/strong> great! you can share more detail about your pre-sale?<\/p>\n\n\n\n John Lewis | YFC: <\/strong>Sure. We currently in the last phase of pre sale that ends tomorrow. Mary | Satoshi Club:<\/strong> If one or two tokens won’t be sold:joy:, what you will do with them?)<\/p>\n\n\n\n John Lewis | YFC: <\/strong>The unsold tokens from 156 will be allocated to farming category. 🙂:pray:🏻 <\/strong> <\/p>\n\n\n\n Q1 from Telegram user @Jonahapagu<\/a><\/em><\/p>\n\n\n\n Yearn Finance center is A Fork of Yearn Finance.. what were the specific improvements you made in YFC over Yearn finance in other words how is YFC different from yearn Finance. For now the only difference I know is the \u201ccenter\u201d added to your name<\/strong><\/p>\n\n\n\n John Lewis | YFC: <\/strong>Haha, true. Honestly, it\u2019s true. Mary | Satoshi Club: <\/strong>This is very honest:joy: But do you see something in YFI that you personally want to improve? And bring this ideas to life on YFC platform?<\/p>\n\n\n\n John Lewis | YFC:<\/strong> Honestly, really no. As far as I know, it doesn\u2019t need any improvements expect the APY % they offer. We have some personal plans, but it projected to reveal in December. I\u2019m confident people love it. Andre is a great guy and I admire him.<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Yes, Andre is amazing:smiley: thank you for your answers)<\/p>\n\n\n\n Q2 from Telegram user @bitcoinistic<\/a> <\/em> <\/p>\n\n\n\n I know that exchanges are pretty confidential regarding announcing in advance about a negotiation regarding a listing. However, you’ve wrote on the website that listing on KuCoin coming soon. Did they permit you to post that?<\/strong><\/p>\n\n\n\n John Lewis | YFC:<\/strong> No sir, we took no permission from them to make a plan on listing. Mary | Satoshi Club:<\/strong> Why Kucoin?) Don’t you afraid?)It was hacked recently and still have a problems with a lot of projects which refused to make token swap?<\/p>\n\n\n\n John Lewis | YFC: <\/strong>We planned the Kucoin before the actual hack happened. :grinning:🤦🏻♂ Mary | Satoshi Club: <\/strong>Oh, it’s clear) do you have any approximate terms to list YFC on CEXs?:wink:<\/p>\n\n\n\n John Lewis | YFC: <\/strong>Not really, we are looking for a reliable CEX which don\u2019t use bot trading. We need real volume and real people. We are currently in talks with one exchange which is currently have a good name on market and good community. We will do sometime after Uniswap listing on 5th.<\/p>\n\n\n\n Q3 from Telegram user @Arisabela<\/a><\/em><\/p>\n\n\n\n How important is security for YFC and how do you plan to support your users once pre-sale is done?<\/strong><\/p>\n\n\n\n John Lewis | YFC: <\/strong>Thanks for the question. But, I\u2019m little confused since you asking about security. You mean security of actual platform network to avoid hacks? Or security on user investments? 😊 Let us assume, security of investor funds after pre-sale is done. We always tell our investors to hold till we go to CMC and coingecko. We will have more visibility in market going forward. After we burn 98% tokens, we see number of new people joined the pre sale. All investors now feel secure as they know already there is no chance of rug pull. We have no tokens to control market, investors have 90% more tokens that we do.<\/strong><\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>As i understand, you platform is as secure as YFI, right? As you are their fork?)<\/p>\n\n\n\n D. | Satoshi Club:<\/strong> what about audit? your contract passed audit?<\/p>\n\n\n\n John Lewis | YFC: <\/strong>Yes Mam. It is same as YFI. We don\u2019t need audit since YFI is already audited. We only go for audit if we add or change the code.<\/p>\n\n\n\n Q4\nfrom Telegram user @jobel4<\/a><\/em><\/p>\n\n\n\n The roadmap written in your website is until November 2020 only. So what would be the next thing to do after November 2020 and so on? What is in the box of preparation are you dealing with since end of the year is coming?<\/strong><\/p>\n\n\n\n John Lewis | YFC:<\/strong> We honestly only have plans till December 2020. We will announce our 2020 Q1 in December mid week. :pray:🏻 All the plans till December are already shared on my previous answers. :pray:🏻:blush:<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> You are so honest, that even i a bit confused 😂 Will you decide how to move forward with your community?<\/p>\n\n\n\n John Lewis | YFC:<\/strong> Going forward, community is the one and only committee who approve our plans or change management. It\u2019s like complete \u201cGovernance\u201d of the project. This continues for long time unless and until we come up with a upgraded version v2. We will launch our working product late November. Users can stake and farm YFC tokens as rewards.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>How YFC governance will work?<\/p>\n\n\n\n John Lewis | YFC: <\/strong>It is no different than other projects. YFC holders are responsible for governing the YFC protocol, which included approving and declining the changes we present. The YFC tokens locked up during the governance process are returned to the holder in 24 hours after the governance process is completed. This is automatically done.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Yes, everything is simple)<\/p>\n\n\n\n Q5 from Telegram user @K2ice<\/a><\/em><\/p>\n\n\n\n What is the distinctive difference between the YFC token and the yToken? And I will appreciate if you can briefly explain their use cases.<\/strong><\/p>\n\n\n\n John Lewis | YFC:<\/strong> I\u2019m not really sure about ytoken? It might be \u201casset\u201d type and can be used for lending and borrowing purposes. We are no lending platform, we have no plans on it currently. After we launch our staking\/farming platform we will think of the own exchange, but no plans on being an asset.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>so you don’t have yToken?<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>I saw a lot of questions about ytoken, i think something is mentioned somewhere in your documentation) or on your site<\/p>\n\n\n\n John Lewis | YFC: <\/strong>True, it is actually. I just checked. No wonder. Our developers explained on description itself about using POS yToken. We missed to update this on initial proof read. But, no plans on using POS token yet.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Great, our community is very attentive:joy: <\/p>\n\n\n\n John Lewis | YFC: <\/strong>Haha, so are moderators <\/p>\n\n\n\n Q6 from Telegram user @magic2crypto<\/a><\/em><\/p>\n\n\n\n There are 5,000 YFC available for the FINAL ROUND of sale on Nov 2nd 2020 \u2013 Nov 5st 2020, as it\u2019s stated on your site. But the total supply is only 1300 YFC according to etherscan data(Contract:0xE8ed08a581777f112654e28DE507e11613DA0379). How could you explain this discrepancy?<\/strong><\/p>\n\n\n\n John Lewis | YFC: <\/strong>Sorry, its just a number on website. We haven\u2019t updated it yet. Our max supply is 1300 YFC only like you said. :pray:🏻<\/p>\n\n\n\n Q1 from Telegram user @Jmagsss<\/em><\/p>\n\n\n\n I\ncan see in your roadmap that on December of 2020, you will integrate\nYFC to Binance Chain, why did you choose the BSC to integrate your\nproject with?<\/strong><\/p>\n\n\n\n John Lewis | YFC: <\/strong>We mean about listing on binance. We have the reason like others. It is top exchange, more user base, more volume and visibility. We applied for binance labs as well to seek funds for development. Nothing really spooky.<\/p>\n\n\n\n Q2 from Telegram user @borysfireball<\/em><\/p>\n\n\n\n Why\nyou decided to speed up YFC farming and staking platform? Don’t you\nafraid that the quality will suffer? <\/strong>\n<\/p>\n\n\n\n John Lewis | YFC:<\/strong> It\u2019s already so late as we promised to deliver the platform before the presale. We have to speed up things now or we loose trust. We are not worrying about quality at all. We are 6 devs, so two of them will always check on quality before we commit the code.<\/p>\n\n\n\n Q3 from Telegram user @Splendicity<\/em><\/p>\n\n\n\n Your profile says you are 31 years old John Lewis | YFC: <\/strong>You can find my correct age in my linkdn, you can check the website. It\u2019s a typo on telegram, I\u2019m not that young. I\u2019m 41 year old. 😃But imagine if someone starts coding at the age of 11? Crazy isn\u2019t?<\/p>\n\n\n\n Q4 from Telegram user @BERTA2020<\/em><\/p>\n\n\n\n Do\nyou plan to search for listings in other Exchange after your PRESALE?<\/strong><\/p>\n\n\n\n John Lewis | YFC:<\/strong> Yes. After presale, our first focus is on one CEX listing for sure. We have to make sure we are getting right trading volume.<\/p>\n\n\n\n Q5 from Telegram user @K2ice<\/em><\/p>\n\n\n\n As\nan investor, if I hold till you go to CMC and coingecko,what will be\nmy benefits?<\/strong><\/p>\n\n\n\n John Lewis | YFC:<\/strong> Since we have very low supply 1300. You can make 5x to 10x when we go to public sale.<\/p>\n\n\n\n Q6 from Telegram user @jpsarmah<\/em><\/p>\n\n\n\n Can\nwe farm with the YFC ETH Uniswap V2 Liquidity pool token which will\ngive high rewards than farming YFC?<\/strong><\/p>\n\n\n\n John Lewis | YFC: <\/strong>Farming on our platform will give you higher rewards obviously. Our platform will launch in late November.<\/p>\n\n\n\n Q7 from Telegram user @Splendicity<\/em><\/p>\n\n\n\n You\nincluded VOTE as part of your ecosystem features. What exactly can I\nvote for, if I\u2019m eligible<\/strong><\/p>\n\n\n\n John Lewis | YFC: <\/strong>Going forward, community is the one and only committee who approve our plans or change management. It\u2019s like complete \u201cGovernance\u201d of the project. This continues for long time unless and until we come up with a upgraded version v2. We will launch our working product late November. Users can stake and farm YFC tokens as rewards. (Copy and Pasted from previous answer)<\/p>\n\n\n\n Q8 from Telegram user @erven12<\/em><\/p>\n\n\n\n Can\ni know Where i will go to stay updated about your Developments and\nUpdates?<\/strong><\/p>\n\n\n\n John Lewis | YFC: <\/strong>Follow our telegram channel https:\/\/t.me\/yearnfc1<\/a><\/p>\n\n\n\n Q9 from Telegram user @Kenas3<\/em><\/p>\n\n\n\n Whta\nare the plans of 2021<\/strong><\/p>\n\n\n\n John Lewis | YFC: <\/strong>We will announce 2021 Q1 plans on our year ending event. Stay tuned.<\/p>\n\n\n\n Q10 from Telegram user @jpsarmah<\/em><\/p>\n\n\n\n Can\nthe YFC token reach the same level of recognition and usage as the\nYFI token?<\/strong><\/p>\n\n\n\n John Lewis | YFC:<\/strong> Our agenda is not to compete with YFI, but to be unique in whole market. Since, we are using the same code. We take YFI as a reference for our whole developments.<\/p>\n\n\n\n In the final part we tested your knowledge in terms of YFC. They\u2019ve prepared 4 questions for this part. The total reward pool for quiz was 400$.<\/p>\n\n\n\n For more information and future AMAs, join our Social Media channels: English Telegram group: https:\/\/t.me\/Satoshi_club<\/a> Spanish Telegram group: https:\/\/t.me\/satoshi_club_spanish<\/a> Our\npartners:<\/strong><\/p>\n\n\n\n YFC<\/strong>\nCommunity<\/strong>:\n<\/strong>\n<\/strong>https:\/\/t.me\/<\/strong>yearnfc<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Crazy November has begun and doesn’t let us get bored. Amarathon is unstoppable! Today we would like to tell you about the AMA session with our friends from YFC. The AMA took place on November 04 and our guest was John B Lewis, founder and CEO of Yearn finance center project (YFC). The total reward […]<\/p>\n","protected":false},"author":5,"featured_media":2837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/2835"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=2835"}],"version-history":[{"count":1,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/2835\/revisions"}],"predecessor-version":[{"id":2836,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/2835\/revisions\/2836"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/2837"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=2835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=2835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=2835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Let me give you guys a little background of mine. I\u2019m originally a software developer with 20+ years experience working at top retail, finance and government agency\u2019s in United States. I\u2019m working on blockchain development since 2017 and completed a short contract with Maker DAO in 2018. Since then, I started developing my skill set to learn more languages including solidity.
We originally forked the YFI vault model and DFI.Money staking platform to develop or add features. We started this YFC project two months ago and decided to not be as anonymous team. So, we came visible to community to gain trust in market. We started development and ground work in September and launched presale this month on 21st.
Currently, the pre-sale is still live and we decided to speed up our farming and staking platform in early November.
website: yf.center<\/a>
Telegram: https:\/\/t.me\/yearnfc<\/a>
Total supply: 1300 YFC<\/p>\n\n\n\n
There are last 156 tokens left for sale and the is 200$ each.
We burned our tokens from 20K to 1300 Max supply few days ago. We don\u2019t have ourself tokens to control the market. The complete control has been shifted to community and became community owned project. :pray:🏻:blush:
Website: yf.center<\/a>
Max supply : 1300 YFC
Telegram: https:\/\/t.me\/yearnfc<\/a><\/p>\n\n\n\n
The only difference is the name \u201ccenter\u201d like you said since it is exact fork so we use the same code.
I really don\u2019t want to tell something we are not doing right now. The current status is the same as YFI\/DFI.Money platform features. We are no different than them.
But, the agenda is not to be running the same. We do active developments to make changes to the vault and also the APY we offer comparing to other projects on market is high. We would increase the farming APY % that attracts each and every investors.
We usually take community\u2019s advice before we touch or start developing anything.
Website: yf.center<\/a>
Max supply : 1300 YFC
Telegram: https:\/\/t.me\/yearnfc<\/a><\/p>\n\n\n\n
We mentioned \u201ccoming soon\u201d only.
It\u2019s really a matter of listing fee. We will update our website anyway, if people have concerns.
We just thought of presenting our plan on how we might be doing going forward. This is not a strategy to attract people in to us.
Great things comes from great products. Our focus is not on price, but on product we are going to launch this month.<\/p>\n\n\n\n
We could do great things with the same listing fee and can list on Top factor exchanges.
We update our plan soon.<\/p>\n\n\n\nPart\n2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n
In this ama,you said you have 20 years experience in retail and finance.
31-20=11 years
Does that mean that you started business when you are 11 years old?.
pls tell us more<\/strong>
<\/p>\n\n\n\nPart\n<\/strong>3<\/strong>\n\u2013 Q<\/strong>uiz\nResults<\/strong><\/h2>\n\n\n\n
<\/strong><\/p>\n\n\n\n
Russian Telegram group: https:\/\/t.me\/satoshi_club_ru<\/a><\/p>\n\n\n\n
Telegram Channel: https:\/\/t.me\/satoshi_club_channel<\/a>
Twitter: https:\/\/twitter.com\/realsatoshiclub<\/a>
Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n