{"id":4211,"date":"2020-12-19T01:29:01","date_gmt":"2020-12-18T23:29:01","guid":{"rendered":"https:\/\/esatoshi.club\/?p=4211"},"modified":"2020-12-19T01:29:04","modified_gmt":"2020-12-18T23:29:04","slug":"yvs-finance-x-satoshi-club-ama-recap-from-15th-of-december","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/12\/19\/yvs-finance-x-satoshi-club-ama-recap-from-15th-of-december\/","title":{"rendered":"YVS Finance x Satoshi Club AMA Recap from 15th of December"},"content":{"rendered":"\n

Welcome to a\nnew episode of our AMA series. Today we are\nglad to tell you about the AMA session with our friends from YVS Finance<\/a>. The AMA took place\non December 15 and our guest was LUCAS – CEO and speaker from YVSFinance.<\/p>\n\n\n\n

The total reward pool was 500$ and was\ndivided into three parts. In this AMA Recap we will try to summarize some of\nthe most interesting points for you.<\/p>\n\n\n\n

\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS<\/strong><\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>Hello dear community! We continue our today’s AMA marathon with the\nYVSFinance project. Our guest today is LUCAS – CEO and speaker from YVSFinance!\nWelcome to Satoshi Club, @yvsfinance_lucas<\/a>!<\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Hello\neveryone! Happy to be here in the Satoshi Club community and present our\nproject, YVS Finance!<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>Please,\ntell us a bit about yourself and about your project. 😃<\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Gladly,\nlet me start by saying something about myself and the team behind YVS Finance. After\na few years of experience in fintech companies throughout Europe, I have\ndecided to leave the “traditional” sector and focus on developing\ninnovative, transparent, and self-executing smart contracts focusing on\ndecentralized finance products, because I found that traditional finance is\njust too far out of reach from the customers they serve. In any case I’ve long\nhad the wish to create something of my own and here we are today!<\/p>\n\n\n\n

I have completed my studies in the field of macroeconomics\nand have been involved with crypto since 2017 when I started to do blockchain\nprogramming and creating mining software and similar applications such as\nanalytic tools for early adopters.<\/p>\n\n\n\n

Together with my team, our goal is to build blockchain\nservices that do not require governance or admin control and are completely\nself-sustainable from the deployment onwards.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>It is very interesting! what does your project name mean?<\/p>\n\n\n\n

Lucas @ YVS:<\/strong> We\nchose the name because it means YVS = Yield-farming, vaults and staking. We\ndidn’t want to complicate with the name itself and so we decided to go with\nsomething descriptive that exactly portrays the use-cases of our platform,\nwhich brings me to a brief introduction to the project :).<\/p>\n\n\n\n

YVS is an innovative decentralized finance project that\ncombines the best features for creating a truly unique, transparent and secure\nyield-farming platform. Because the smart contracts are completely\npre-programmed before launch, investors can be calm with their deposits into\nour project. All tokens, from the pre-sale to the last token distributed, are\ncoded in the contracts and cannot be changed anymore. Everything will be\naudited by the top blockchain security firm Hacken, from which we’ve just\nreceived a spotless audit report, and there will be no admin control on the\ncontracts and no functions exposed that could lead to exploits. Everything is\npre-defined.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub:<\/strong> How big is your team? Are you public or anonymous?<\/p>\n\n\n\n

Lucas @ YVS: <\/strong>We\nhave collectively decided to stay anonymous, because we cannot have and do not\nwish to have any further impact on the project after the initial launch as\neverything will be pre-programmed. This will bring the ultimate security for\ninvestors. Otherwise, we’re composed of a team of three developers, two of\nwhich are solidity programmers and website developer. We have two main advisors,\nwhich help us with marketing and promotions as well as a general project\nadvisor. Along with that we’re working with a designer and several community\nmanagers.<\/p>\n\n\n\n

Q1 from Telegram\nusername @Highpee<\/strong><\/p>\n\n\n\n

While studying your\nproject, I found out that you said your smart contract will be audited by top\nsecurity firm and there will be no admin control on the contracts once\ndeployment has been activated. What does this \u201cno admin control\u201d means? If for\ninstance there is an obvious bug noticed in your smart contract after\ndeployment, how will such be rectified?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>By\n“no admin control” we mean that the contracts can not be changed\nafter deployment. The owner of the contracts has no control over functions\nwhich could change the distribution, transfer any funds or similar flaws that\nsimilar projects have been exposed to recently. For example what happened to\nCompounder, can not happen here, as there are no back-door exploits. What\nhappened to Pickle or Harvest can not happen here, because we’ve disabled\narbitrage and enforced a time period between depositing and withdrawing.\nEverything is pre-defined.<\/p>\n\n\n\n

That’s why we’ve mentioned the audit from Hacken – we’ve\nfixed all the issues they were able to find and we’re more than certain there\nwill be no problems after launch!<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>What\nabout bugs? if something will go wrong, how could you fix your contract?<\/p>\n\n\n\n

Lucas @ YVS: <\/strong>We’ve\nconducted several full tests of the contracts on the Ropsten testnet to check\nfor exactly that! While some small modifications could be done still after the\nlaunch, this kind of decentralized commitment means that there is almost\nnothing we can change, but that is also the goal of the project itself.<\/p>\n\n\n\n

Q2 from Telegram\nusername @KevSalom<\/strong><\/p>\n\n\n\n

In the whitepaper in\nthe pre-sales area you mention that the \u201cBonus per day will be 12.5%, 7.5%, 5%,\n2.5% and 0%\u201d but you don\u2019t explain more about this in your medium publication.\nCan you explain to us better what these bonuses are and how I can benefit from\nthem? Or will anyone who buys $YVS Token receive these percentages\nautomatically the next five days?<\/em><\/p>\n\n\n\n

Lucas @ YVS:<\/strong>Our pre-sale has been running from\nFriday and will end tomorrow on Wednesday at 4pm UTC. During this period, users\ncan earn a bonus on their deposit the earlier they join the presale – this is\nwhat the percentages in the whitepaper mean. However, even if there is no\npresale daily bonus tomorrow before the timer runs out, you can still earn a\n0.5 % deposit bonus by using a referral link!<\/p>\n\n\n\n

D. | Satoshi Club:<\/strong>\nAnd how can get this link?<\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Any\nuser can set it up on our presale page at yvs.finance\/presale. You can also use\na referral link provided by someone else if you are interested to join. There\nhave been several posts with links included in them and I’m sure some of the\ncommunity members would be glad to share theirs for you!<\/p>\n\n\n\n

Q3 from Telegram\nusername @abujoans<\/strong><\/p>\n\n\n\n

Pre-sale is a good\nstrategy for marketing and investors.After the end of the pre-sale, will\nYVSFinance have plan to running more advertising campaigns or airdrops with\ntoken rewards to attract users? How will YVS finance focus on marketing your\nproduct in the future?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>80 %\nof the funds collected in the presale will be used as revenue for the project.\nThis will be used for launching marketing campaigns, providing initial\nliquidity on Uniswap and for exchange listings. We\u2019ve teamed up with several\ninfluencers that believe in our project and will help us get even more\ninvestors. We\u2019ve launched successful collaborations with JustLiquidity and\nHacken to provide the best security standards on the market for investors.<\/p>\n\n\n\n

We will be subscribing to marketing campaigns on prominent\ncryptocurrency sites to attract new people. We still have several other venues\nto reach new investors such as YouTube and more.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>Thanks!\nby the way, how many tokens are you planning to sell and what will you do if\nyou not sold all allocated for pre-sell tokens?<\/p>\n\n\n\n

Lucas @ YVS: <\/strong>We’re\nplanning to sell 100.000 tokens and any tokens that will not be purchased will\nbe burnt. 👍🏼<\/p>\n\n\n\n

Q4 from Telegram user\n@Winterkom<\/strong><\/p>\n\n\n\n

 Liquidity at Uniswap will be locked for 1 year\nafter the launch of the smart contract. My question is, will the pre-sale\ntokens also have a lockout period?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>No,\nthe pre-sale tokens will not have a lockout period. As you’ve mentioned the\nliquidity will be locked for a one-year period, enforced by a time-lock\ncontract. Additionally, half of the deposited liquidity on our platform will be\nlocked forever, which will insure a healthy liquidity and low slippage on\norders.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>So\neach buyer be able to easily trade your tokens right after end of the sell? and\nwhen we can see your token on exchanges?<\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Exactly,\nthey will be immediately tradable after the end of the pre-sale. We’re already\nin talks with several exchanges for possible listings, but we’ll start with\nUniswap and work from there.<\/p>\n\n\n\n

Q5 from Telegram user\n@JesusFre1tes<\/strong><\/p>\n\n\n\n

In a few hours the YVS\nFinance liquidity pools will be open. How easy will it be for users to create\nliquidity in these pools? What will be the platforms where it will be possible\nto do this? How will your liquidity creation model improve on all the others we\nknow?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>We\nwill have one liquidity pool – ETH-YVS on Uniswap. It will not be possible to\npeg YVS against a stablecoin. This pool will receive 65 % of the total\nallocation of rewards. 50 % of the deposited liquidity will be locked forever\nand will ensure good liquidity and low slippage. We think this is very\nimportant for any defi project. You will still receive rewards on your entire\namount and it can be claimed at any moment without any additional fees. Additionally,\nwe will also have a staking pool and two vault pools for interested users!<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>Please tell us more about staking. Participants are always interested\nin it.<\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Our\nstaking pool will receive 20 % of the daily created rewards and will have a\nminimum deposit period of 2 weeks with additional rewards for users who will be\nwilling to lock their tokens for longer periods, up to a period of 12 weeks and\na maximum bonus of 10 %. Rewards can be claimed at any moment without any\nadditional fees.<\/p>\n\n\n\n

Q6 from Telegram user\n@borysfireball<\/strong><\/p>\n\n\n\n

Why did you abandon\nsuch a fashionable now governance function? What is the value of your tokens\nand their future if there is a need for new features for DeFi in the future and\nneither you nor the community can change anything?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Because\nthe functions itself will be controlled by the smart contract! This is the\nmeaning of true decentralization where no actor can have an impact of the\ndirection of the project. The so-called controller contract will keep\ndistributing rewards in the future and provide incentives to investors for as\nlong as the blockchain itself exists. No possible changes in the allocation of\nthe pools, or any other form of flaw, that could be exploited by external\nhacks. Everything is pre-defined and will stay so. If you ask us, then this is\nthe true value preposition of a decentralized finance project!<\/p>\n\n\n\n

D. | Satoshi Club:<\/strong>\nThanks! now we come close to the second part of our AMA!<\/p>\n\n\n\n

\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n

The\nchat was open for 80 seconds; a lot of questions were posted by Satoshi Club\ncommunity. Our guest chose some of them. <\/p>\n\n\n\n

Q1 from Telegram User<\/strong>\n@AmitGoyal1444<\/strong><\/p>\n\n\n\n

$YVS Finance\ncollaborate with the renowned blockchain security firm Hacken for official\naudit of the entire project. Can you tell us the result of the Audit? Why do\nyou choose Hacken to audit your project?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Hacken is one of the best cyber-security firms in the\nworld and that’s why we’ve chosen them. The audit results have revealed their\nbest possible security score and absolutely all issues have been fixed and\namended. We’re very glad to be able to share this audit report with the\ncommunity!<\/p>\n\n\n\n

Q2 from Telegram User @Cakelov<\/strong><\/p>\n\n\n\n

How many pools that YVSFinance have\nin their platform including Staking, liquidity and vault pool? Do you also have\npool for a stable coin like USDT? Is there any limit if we want to deposit in\nyour vault pools?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>In\ntotal there will be four pools on our platform: a staking pool, a liquidity\npool (ETH-YVS pair on Uniswap) and two vault pools. There will be no liquidity\npools offered against a stablecoin pair. However, you will be able to deposit\nstablecoins in one of our vaults which will accept USDT\/USDC\/DAI\/USDN.<\/p>\n\n\n\n

There is no\nimpermanent loss in these pools and you will only continue to earn your\ninvestment while receiving additional YVS rewards! The only limit is the\nminimum deposit period of one week, but we don’t believe this should be an\nissue as vaults are long-term investments :). Additionally, there will be a\nwrapped bitcoin vault with exactly the same features, so make sure to check it\nout!<\/p>\n\n\n\n

Q3 from Telegram User @borysfireball<\/strong><\/p>\n\n\n\n

I see big expenses that have been\nmade by YVS.Finance lately – a lot of AMAs, Hacken audit (we all know, that\nit’s not cheap), JustLiquidity lock etc, this list is long. Where this funds\ncome from? If it’s from early VC investors can you tell us if they have any\npreferences or bonuses?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>We\nhave conducted no VC sales or private rounds. Everyone can access our presale. 80\n% of the funds collected in the presale will be used as revenue for the\nproject. This will be used for launching marketing campaigns, providing initial\nliquidity on Uniswap and for exchange listings.<\/p>\n\n\n\n

Our project\nwill generate revenue from the collected burn rate and from the vaults which\nwill continuously generate revenue from investing into underlying strategies.<\/p>\n\n\n\n

Q4 from Telegram User @bathulosnom<\/strong><\/p>\n\n\n\n

We know that Ethereum has high gas\nfee for the DeFi trend. Is this the main reason behind partnership with\nJustliquidity to solve the hog gas fee? In future will you expand on more\nchain?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>JustLiquidity\nis a renowned name in the blockchain industry, which provides many services to\nboth normal users and emerging projects themselves. We will be using their\nservices to connect to BSC in the future to provide cross-chain liquidity and\nalso locking all remaining project tokens in their protocol for ultimate\nsecurity. This will be a huge benefit for us as it will show we have no bad\nintentions with the project funds and they will only be used for specific\npurposes such as exchange listings in the future, promotions, marketing\ncampaigns etc.<\/p>\n\n\n\n

Q5 from Telegram User @rockmorti<\/strong><\/p>\n\n\n\n

800,000 $ YVS distributed into pools\nfor 20 months, how do you plan to counteract this inflationary shock and if you\nhave any intention of introducing governance models to counteract these\neffects?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Because\nof the limited total supply and no minting capabilities we have a deflationary\ntoken system with a constant reward amount per day – this will balance out the\ninflation on a longer basis and provide long-term value to the token. Along\nwith a 0.75 % burn rate on all transactions this should mean that the inflation\nshould not be too high – only for a short initial period which should be\ncounteracted by the locking periods in our pools.<\/strong><\/p>\n\n\n\n

Q6 from Telegram User @BboyForteVZLA<\/strong><\/p>\n\n\n\n

To get my referral link to invite\npeople to participate in your presale, is it mandatory to buy your token in\nyour presale or not?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>No, it is not mandatory for you to purchase\nour tokens to create a referral link which you can share to other people who\nwill participate in the presale!<\/em><\/strong><\/p>\n\n\n\n

Q7 from Telegram User @AmirJosh<\/strong><\/p>\n\n\n\n

50 % of deposited LP tokens will be\nlocked forever and cannot be access anymore. Will this apply for all the\nliquidity providers? What is the compensation fo losing half of the tokens?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Yes,\n50 % of the deposited liquidity will be locked forever. However, you will still\ngain rewards from the full amount of liquidity you provide and rewards will be\nclaimable at any moment. The only limit will be that when you try to withdraw\nyour funds, you will only be able to withdraw 50 % of the total deposited\namount. And to answer why, there are several reasons. The most important one is\nas you already have said to stabilize the price of YVS on the market. By\nlocking half of the liquidity, trading will always be possible and with very\nlow slippage – this is the main advantage locking LP tokens will give us.\nEveryone likes a project with good liquidity on Uniswap and that is what we\nwill provide.<\/strong><\/p>\n\n\n\n

Q8 from Telegram User @JP_Morgan_Chase<\/strong><\/p>\n\n\n\n

Even the most reputable cybersecurity\ncompanies like Hacken cannot guarantee that a smart contract is 100% secure.\nSince your contract cannot be changed, what if a vulnerability is found after\nlaunch?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>We\nare experienced solidity developers and we believe in the quality of our code.\nThat is why we\u2019ve announced a collaboration with Hacken, one of the most\nreputable blockchain auditing firms, to conduct a full review of our project\nrepository. All the functionality has already been pre-tested on Ropsten and\nthis audit will only solidify the quality of our code and products.<\/p>\n\n\n\n

And remember, all of this is done pre-launch so there is no\ndoubt for our investors. Not many other projects can say something like this.\nAll possible security breaches have been accounted for – flash loans,\nback-doors and all other types of exploits are programmatically disabled and\nwe\u2019ve made it completely decentralized where only the contract itself can\nexecute functions.<\/p>\n\n\n\n

Q9 from Telegram User @Orrangelp<\/strong><\/p>\n\n\n\n

What are the requirements for\nstaking? What are the daily returns? Is there any lock-period for withdrawing\nmy asset? And for claiming my rewards do I need to pay extra fees?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>Staking\nis the process of holding native tokens in a so-called staking pool which pays\nout rewards for locking the tokens for a certain amount of time. We will be\noffering a staking pool with attractive rewards starting with a 2 week locking\nperiod. The maximum locking period will be 12 weeks and if you decide to stake\nfor this period, you will receive an additional 10 % of rewards.<\/strong><\/p>\n\n\n\n

Q10 from Telegram User @stargateeatlantis<\/strong><\/p>\n\n\n\n

How much do you plan to burn for\nevery transaction occur in yvs?<\/em><\/p>\n\n\n\n

Lucas @ YVS: <\/strong>We\nhave a 0.75 % burn rate active on all transfers except to the main staking\npool. This burn rate will be used to fund future rewards in the protocol.<\/p>\n\n\n\n

\n\n\n\n

PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n

As usual, for the third part, Satoshi\nClub Team asked the chat 4 questions about YVSFinance. A link to a\nQuiz form was sent into the chat. Participants had 10 minutes to answer. 300$\nwere distributed between the winners. <\/p>\n\n\n\n

For more information and future AMAs, join our Social Media\nchannels: <\/strong><\/p>\n\n\n\n

English Telegram\ngroup: https:\/\/t.me\/Satoshi_club<\/a>\n<\/p>\n\n\n\n

Russian Telegram\ngroup: https:\/\/t.me\/satoshi_club_ru<\/a>\n<\/p>\n\n\n\n

Spanish Telegram\ngroup: https:\/\/t.me\/satoshi_club_spanish<\/a>\n<\/p>\n\n\n\n

Telegram Channel:\nhttps:\/\/t.me\/satoshi_club_channel<\/a>\n<\/p>\n\n\n\n

Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Twitter:\nhttps:\/\/twitter.com\/esatoshiclub<\/a>  <\/p>\n\n\n\n

Our Partners: <\/strong>\n\nYVSFinance: https:\/\/t.me\/YVSFinance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to a new episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from YVS Finance. The AMA took place on December 15 and our guest was LUCAS – CEO and speaker from YVSFinance. The total reward pool was 500$ and was divided into three […]<\/p>\n","protected":false},"author":4,"featured_media":4212,"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\/4211"}],"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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=4211"}],"version-history":[{"count":1,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/4211\/revisions"}],"predecessor-version":[{"id":4213,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/4211\/revisions\/4213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/4212"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=4211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=4211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=4211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}