Hello,\nSatoshi clubbers Another AMA took place at Satoshi Club and we would\nlike to introduce to you the AMA session with our friends from\nEthereum Yield. The AMA took place on 19 November at 2 PM UTC.<\/p>\n\n\n\n
The\nAMA session was divided into 3 parts with a total crypto reward pool\nof 1000$<\/p>\n\n\n\n
In\nthis AMA Recap we will try to summarise the most interesting points\nfor you.<\/p>\n\n\n\n
Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n Hello,\nSatoshi Club! We are happy to announce our AMA session with Ethereum\nYield! @liaofu welcome to Satoshi Club :grinning:<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n :hand:🏻<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Hello,\nfriends! Today we are pleased to introduce you a project Ethereum\nYield!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Today\nis our guest @liaofu. Welcome to Satoshi Club!<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n Hi,\nhow are you, @liaofu ?)<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n I\nam well. Thank you for the invitation. How are you ? :blush:<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n We\nare great, looking forward our informative AMA :+1:<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n :rocket:<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n Could\nyou please introduce yourself and Ethereum Yield?)<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n I\nam Liao and one of the developers in the Ethereum Yield (ETHY)\nproject.<\/p>\n\n\n\n ETHY\nis Ethereum’s most powerful yield farming coin. ETHY’s vault\nsmart-contract executes strategies to maximize APY, reward holders,\nand punish weak-hands.<\/p>\n\n\n\n Super\nLiquid<\/p>\n\n\n\n Users\nare incentivised to stake Uniswap liquidity provider tokens. Fees\nfrom these tokens are farmed. A percentage of these fees goes toward\nthe autonomous strategies like liquidating LP tokens, and performing\nan (ETH-ETHY) buy back (increasing the price). Any purchased ETHY\ntokens will be distributed to stakers\/farmers.<\/p>\n\n\n\n Non-Inflationary<\/p>\n\n\n\n ETHY\nimplements a strong force on each token. Every time an ETHY token is\ntransferred, a small fee is taken, which is returned to the farmers.\nThis mechanism incentivises holding and farming. There will never be\nmore than 500k ETHY.<\/p>\n\n\n\n Community\ncontrolled<\/p>\n\n\n\n ETHY\nholders will be able to vote on proposals\u2013 so long as they have\nstaked liquidity in the pools. The community will decide everything\nfrom developer fees and site design to the exact farming options\navailable.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Very\ninformative intro!:+1:<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Thank\nyou :heart:<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n Great\n:+1: Thank you for your intro, as a developer, i think you will be\nhappy to answer our community questions \ud83d\ude09<\/p>\n\n\n\n Ready\nto go?<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n yes\n:blush:<\/p>\n\n\n\n Q1 from Telegram user @bitcoinistic<\/em><\/p>\n\n\n\n When\npre-sale end and when people provide LP they will use ETH from\nPRE-SALE. So, basically in the pre-sale I buy the tokens and give\nmyeth for the LP at the same time?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n That’s\nright.<\/p>\n\n\n\n In\ntranslation it comes as FREE-PRE-SALE which honestly we are one of\nthe few projects that have done that.<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n Nice\nidea:grinning:<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Sounds\ngood<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n :rocket:<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Can\nwe proceed to the next question?Or you want to add something?<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Yes!\nNext question :blush:<\/p>\n\n\n\n Q2 from Telegram user @cryptomonkss<\/em><\/p>\n\n\n\n CertiK\nmentions that their reports are not, nor should be considered, an\n\u201cendorsement\u201d or \u201cdisapproval\u201d of any particular project or\nteam. Any project can request an audit from them. So, the most\nimportant thing is not that you are audited by them, but what is the\nconclusion of their report?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n We\ncan proudly say that no errors were found on our smart contract.\nCertik is one of the largest cyber security companies and we are very\nhappy to work with them. Users can see the full report on their\nofficial website:<\/p>\n\n\n\n https:\/\/shield.certik.foundation\/projects\/ethereum\nyield\/<\/a>\n\n<\/p>\n\n\n\n https:\/\/certik-public-assets.s3.amazonaws.com\/REP-ETHY-09_11_2020.pdf\/<\/a><\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n One\nof the latest hacks was Akropolis and it was also audited by Certik,\ndidn’t you think about additional audit to secure everthing\nmaximally?<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Thanks\nfor your answer!<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n It\nwas not a hack but the Akropolis team made a backdoor and withdrew\ntheir tokens. We can call this as RUG<\/p>\n\n\n\n Benefits\nand trust with Ethereum Yield is that we have DISABLE FOREVER MINTING\nOPTION<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n Got\nit, thank you :+1:<\/p>\n\n\n\n Next\nquestion?)<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Thanks\nfor the clarification<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Yeah\nnext \ud83d\ude42<\/p>\n\n\n\n Q3 from Telegram user @parisienne_a<\/em><\/p>\n\n\n\n You\nstate on your website that: <\/strong>\n<\/p>\n\n\n\n “ETHY\nholders will be able to vote on proposals\u2013 so long as they have\nstaked liquidity in the pools. The community will decide everything\nfrom developer fees and site design to the exact farming options\navailable.”<\/strong><\/p>\n\n\n\n It’s\nvery good that the community will be involved in the governance of\nthe project. The fact that is a red flag though is that nowhere could\nI find the exact methods and rules by which this will work. Can you\ntell us how will be people able to make decisions?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n That’s\nright ! We listen very well to our community and accept almost 99% of\ntheir suggestions. So today we agreed to do an update to the website\nand we changed the design.<\/p>\n\n\n\n We\nwill have a special group with the majority owners of ETHY, and they\nwill be able to make decisions with the team, and the team will be\nvery happy to listen to them.<\/p>\n\n\n\n The\nmost important success is listening to the community.<\/p>\n\n\n\n (next)<\/p>\n\n\n\n Q4 from Telegram user @dani_minkovicz<\/em><\/p>\n\n\n\n You\nare non-inflationary token and the maximum supply is 500k ETHY. Only\nthe farmers will be able to gather tokens. That is good, it\nincentivize holding. However, will you have a deflationary policy as\nwell?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Our\nMAX supply is 500k.<\/p>\n\n\n\n 100k\nPRE SALE<\/p>\n\n\n\n 375\nFARMING REWARDS<\/p>\n\n\n\n 25k\nTEAM LOCK<\/p>\n\n\n\n (please\nnote that tokens which they are not sold at pre-sale phase gonna be\nused for farming rewards).<\/p>\n\n\n\n next<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Q5 from Telegram user @kafeinen<\/em><\/p>\n\n\n\n Discouraging\nbots and weak sellers from dumping the token is cool, but don’t you\nthink that this method you’ve decided to use will discourage a lot of\ngood market players form buying from you? Also, please tell us what\nis this fee that you intend to use and if it will be fixed, or will\nchange in time?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n We\ncame up with the idea to make the system so that anyone selling on\nUnisWAP – 5% FEE of the token will go to the farmings rewards pool\nand reward users, and then the bot is unable to do a trade and dump\nprice because it will not be profitable .<\/p>\n\n\n\n This\nis something like an ANTI BOT system.<\/p>\n\n\n\n next<\/p>\n\n\n\n Q6 from Telegram user @edibrown<\/em><\/p>\n\n\n\n How\nmuch surplus ETH and ETHY may be lent out, is the % flexible or will\nit stay the same?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n We\nwill publish this information with the exact figures in 2-3 days\nsoon.<\/p>\n\n\n\n next<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n But\nif you ecsidentally will still see the dump?) Btw, can you tell us\nthe price for Sale and Uniswap listing price?<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n We\nhope you come to Satoshi Club to share this.<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Our\nprice on UniSwap will be 10-20% higher than in pre-sale phases.<\/p>\n\n\n\n The\ncurrent price is 1 ETHY = 0.02 ETH<\/p>\n\n\n\n https:\/\/ethereumyield.farm\/<\/a><\/p>\n\n\n\n next<\/p>\n\n\n\n Gold\nRocket | Satoshi Club<\/strong><\/p>\n\n\n\n Sounds\ngreat<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n I\nreally heard this million times, but the reality often differs. And\ndo you have bonuses for Pre-Sale?<\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n What\nwe promise we deliver for our community.<\/p>\n\n\n\n There\nis no bonus for pre-sale because main benefits on pre-sale is that\npeople can do LP with ETH raised from pre-sale which means they got\nsomething like FREE ETHY<\/p>\n\n\n\n Mary\n| Satoshi Club<\/strong><\/p>\n\n\n\n Ok\nthank you :smiley: Ready for live questions part?<\/p>\n\n\n\n Q1 from Telegram user @konditer_rolex<\/em><\/p>\n\n\n\n Audited\nby CERTIK, PR published by Cointelegraph, partnership with\nDEXToolsApp – that’s what I understand you decided to hyip. We say “a\ngood show is more expensive than money”. But you started it for\nthe sake of the presale. Tell me how much you expect to raise? Will\nthere be more presale rounds if there is not enough money? What will\nhappen to the tokens that will not be sold?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n We\nalways want to work with the best and give customers great legitimacy\nand protection when they want to invest.<\/p>\n\n\n\n So\nwe just decided to work with Certik, Dextools, Cointelegraph and\nothers.<\/p>\n\n\n\n We\nexpect to raise more than 1000 Ethereum and there is no pre-sale\nround.<\/p>\n\n\n\n Unsold\ntokens will be transferred to the farmings rewards pool and will be\nassigned to users.<\/p>\n\n\n\n Q2 from Telegram user @brodzon1<\/em><\/p>\n\n\n\n Why\nis hardcap so high 2000 eth and for what will be used all these Eth<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Do\nyou like to see a project on UniSwap with 100 ETH pooled or with\n2000?<\/p>\n\n\n\n The\nlarger the community we have and the investors – our project is\nstronger and bigger.<\/p>\n\n\n\n Q3 from Telegram user @huydo<\/em><\/p>\n\n\n\n You\nplan to list on UniSwap on 23Nov, so how about planning for listing\non CEX such as Binance, Huobi…?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n We\nwill be on UniSwap on November 23, and as far as CEX is concerned, we\ndo not plan to make an effort and push towards that, because mostly\nCEX dumps price with their arbitage bots. a lot.<\/p>\n\n\n\n Q4 from Telegram user @warny<\/em><\/p>\n\n\n\n I\ndon’t like the site design, how much ETHY do I need to hold to be\nable to change that design?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n We\nreleased that new website design today, and you can still use the\nolder version at https:\/\/old.ethereumyield.farm\/<\/a>\n\n<\/p>\n\n\n\n HODL\nis always better option :joy:<\/p>\n\n\n\n Q5 from Telegram user @chunhocxitrum<\/em><\/p>\n\n\n\n I\nwant to join Pre-sale, but I don’t have much ETH, so are there any\nrequirements for min or max ETH for pre-sale? @liaofu<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Users\ncan enter at pre-sale with minimum purchase of 1 ETHY = 0.02 ETH.<\/p>\n\n\n\n Maximum\npurchase per address is 40 ETH but please note that people always can\nmake multiple address and purchase more so there is no way to stop\nwhales. :eyes::blush:<\/p>\n\n\n\n Q6 from Telegram user IVY Park<\/em><\/p>\n\n\n\n Was\nany major issues or vulnerabilities reported after the audit by\nCertik?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n We\nare very proud and happy to say that they were not found major issues\nor vulnerabilities :heart:<\/p>\n\n\n\n Q7 from Telegram user @KhaleesiTheCryptoLady<\/em><\/p>\n\n\n\n How\nmuch approximate APY could farmers can earn if they provide liquidity\nin Uniswap? Can you share to us guaranteed reward ratio?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Users\nwill have an APY earnings of 200%.<\/p>\n\n\n\n Their\nfunds will be locked for 8 months, but they can always withdraw their\nfunds with a 25% penalty.<\/p>\n\n\n\n We\nwant to give users the opportunity to withdraw their funds without\nlocking them up forever.<\/p>\n\n\n\n Q8 from Telegram user @toanphamhd<\/em><\/p>\n\n\n\n Do\nyou have plan to Burn\/Buyback Token to increase its value? and What\nis the your Token Utility in the ecosystem?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n Fees\ngenerated by the deposited LP tokens on uniswap will periodically be\nwithdrawn by the contract; ETH and ETHY will be returned; The ETH\nwill be used to buy ETHY from uniswap, increasing the price, which is\ngreat for all holders. All surplus ETHY will be redistributed to the\nfarmers and small admin fee will be taken. This pumping strategy may\nbe updated over time to an even more aggressive protocol.<\/p>\n\n\n\n Q9 from Telegram user @KeymerS<\/em><\/p>\n\n\n\n Among\nso many different platforms in the ETH chain that have yield farming,\nwhy choose this one? What advantages does it have over the rest and\nwhat future plans will they have?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n I\nwould like to give you full answer on targeted page:<\/p>\n\n\n\n https:\/\/docs.ethereumyield.farm\/evaults.html\/<\/a><\/p>\n\n\n\n Q 10 from Telegram user @zaferce<\/em><\/p>\n\n\n\n Is\nthere a way to reduce transaction fees on transactions provided for\nfarming? What is the advantage of using EVault so that our profit is\nminimally affected?<\/strong><\/p>\n\n\n\n Liao\nFu<\/strong><\/p>\n\n\n\n There\nis way but we want to keep 5% fee to prevent BOT manipulation on\nUniSwap and that our users feel more safe.<\/p>\n\n\n\n As\nusual, for the third part, Satoshi Club Team asked the chat 4\nquestions about the crypto project. A link to a Quiz form was sent\ninto the chat.<\/p>\n\n\n\n For\nmore information and future AMAs, join our Social Media channels:<\/strong><\/p>\n\n\n\n English\nTelegram group: https:\/\/t.me\/Satoshi_club\/<\/a>\n\n<\/p>\n\n\n\n Russian\nTelegram group: https:\/\/t.me\/satoshi_club_ru\/<\/a>\n\n<\/p>\n\n\n\n Spanish\nTelegram group: https:\/\/t.me\/satoshi_club_spanish\/<\/a>\n\n<\/p>\n\n\n\n Telegram\nChannel: https:\/\/t.me\/satoshi_club_channel\/<\/a>\n\n<\/p>\n\n\n\n Twitter:\nhttps:\/\/twitter.com\/realsatoshiclub\/<\/a>\n\n<\/p>\n\n\n\n Website:\nhttps:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n Our\npartners:<\/strong><\/p>\n\n\n\n Telegram:\nhttps:\/\/t.me\/ethereumyield\/<\/a>\n\n<\/p>\n\n\n\n Twitter:\n https:\/\/twitter.com\/EthereumYield\/<\/a>\n<\/p>\n\n\n\nPart\n3 \u2013 Quiz Results<\/strong><\/h2>\n\n\n\n