Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Yield App, on November 17th at 12.30 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by YIELD TEAM ,so here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks
Q1. Could you please introduce YIELD to our community in layman’s term?
Ans — YIELD is a licensed and regulated FinTech company that enables anyone to invest in decentralized finance with the touch of a button! Thanks to our intuitive app and web platform, users around the world can start earning returns from DeFi products without having to go through a lengthy, complex and often costly learning process. Our users earn up to 20% APY through our DeFi strategies on the backend.
Q2. What are the advantages of YIELD to other alternatives in the Blockchain field?
Ans — We utilise traditional enterprise and portfolio risk management techniques under a regulated model combining proprietary technology and our expert trading team to manage our aggregated portfolios providing economy of scale without the concentration risk for an individual trying to do this on they’ve own. We are a financial service provider building service delivery and tech IP rather than a blockchain builder.
Q3. What are the major milestones YIELD achieved so far & what are in the future pipeline?
Ans — In less than 6 weeks time we have established a very vibrant team, built a community from scratch, and also gotten some of the top names in crypto to invest in us.
We have also gotten ourselves to a new level with branding and expect to launch the product very soon.
I think overall we are on track with what we are trying to achieve and where we are going.
We are always looking for new partnership opportunities and listen to our community very closely.
Questions Asked on Twitter For YIELD App Team!
Q1. Now a lot of Many fake defi projects promising insanely high APR, but ended up pull liquidity or minting, how does your project respond to this case ? Explain the reasons why we should invest in your project because we know you’re a team without a name ?
Ans — Ateam without a name?, all of the founders have many decades experience in capital markets, fintech and crypto more recently on their resumes, we are all public, you can check us on linkedIn, see our videos and like now ask us your questions. In short, we are managing an aggregated fund of DeFi startegies on behalf of our users adhering to regulatory best practise and financial service compliance models such as MiFID, we layer this with efficient business and risk management processes as we are building a sustainable long term platform infrastructure………our first launch is a simple to use high value, guaranteed income product, we will be adding multiple products, features and investment opportunities as we grow…………one step at a time combined with a long term vision.
Q2. Many traders tend to set stop losses from trades, they do not know that they will reach their points. How will Yield educate them? And how does Yield solve the problem of Big investors who often take advantage of these stops?
Ans — We are managing investments on behalf of our users, our first find wil be $ neutral and stable coin backed, we are coding dynamic hedgin tools in our proprietary portfolio management sytem to introduce dynamic hedgin against impermanent loss for future product capabilities alongside funding rate arbitrage amongst other automated approached to the rapidly evolving opportunities growing in the DeFi ecosystem.
first product is a low risk minimum APY guarantee.
Q3. In the crypto field, it is difficult for projects to generate revenue/profits. Some projects have a 10% development share (10% comes from the transaction fees charged by the project). Can you explain to us how your project generates revenue/profits?
Ans — We have a basket of strategies running at all times to guarantee a minimum 10% APY to clients with a boost potential to 20% by holding our token YLD. We cannot go into full details how we do this, but we consistently out perform the market in testing the last 6 months.
Q4. In general, DeFis projects have variable APYs over time. What mechanism guarantees a 10% APY?
Ans — anything under 10% and risk capital will move to other asset classes, thats always a risk however it is possible trough diversification and innovation ot create sustainable higher consistent returns, no different to an actively managed debt or equity fund (one that actually performs of course)
Q5. The site says that to use YIELD almost nothing is needed except money. But, what about the cost of transfers within the network, it can gobble up all the profits?
Ans — Once you crypto or fiat is on the platform you don’t need to worry about gas fees. You enjoy the profits and daily returns of the fund. YIELD covers gas fees. We can do this because we run a managed fund and aggregate client funds. So with YIELD your 1000 USDT is invested in many different positions.
Questions Asked by our BlockTalks Community Members during live Session to Yield App Team!!
Q1. Most DeFi projects especially those ones offering yield farming are driven up by hype and scarcity, so when the hype dies the project dies. What’s the key to sustaining Your Project yield farming ?
Ans — We are a digital bank that farms into other projects. We ourselves are not a farm. We make a simple platform that anyone can deposit crypto and fiat and earn yields. My confidence comes from Jan’s 4.5 million clients at Paxful and my 3.5 million clients at Wirex. We know how to build and scale fintech companies. We are a gateway for retail to DeFi.
Q2. What do you think is holding the DeFi space back? What is preventing from the mass adoption of DeFi products?
Ans — I think the biggest problem with DeFi to scale to the next level is Ethereum and also that we don’t have enough fiat on and off ramps. Also there should be more projects EDUCATING about DeFi instead of just building complex protocols and smart contracts.
We plan to educate our community all the time about DeFi and happy to share our blog for that.
YIELD - Blog
YIELD App enables everyone to participate in DeFi and enjoy the benefits of Yield Farming.
Q3. Please share with us what do you think about the real philosophy behind DeFi?Where Do You See This Revolution After 4 or 5 years?
Ans — I think DeFi will kill the middleman which would be the banks. Instead of going to a bank to get a loan you can do it based on a smartcontract. This will eventually save a lot of cost and manpower, and that can be used to R&D.
DeFi is still in its child’s shoes and I think there will come a lot of innovation in the future.
Q4. For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit?
Ans — We are raising a $4m presale and have closed $2.4 million in funds so far. We will close the rest by the end of November. We are very confident we have enough capital to build an amazing company. On that note anyone interested in the presale can email firstname.lastname@example.org
Q5. How do you plan to spread awareness about your project in different countries/regions where English is not spoken well?
Do you have local communities for them to let them better understand about your project?
Ans — Jan and our marketing team are masters at building local communities where we can support our users and growth. We have a strategy we will open in early 2021.
Q6. When we know that there are so many project Digital Bank today. So, why should I choose and use YIELD ? give me the best reason
Ans — No other digital bank gives you 10% APY for your money. Instead you usually pay for having your money in a savings account. We want to change this.
Q7. Do you think Your system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system
Ans — All protocols that YIELD interacts with are subjected to rigorous audits using smart contracts, and our infrastructure uses the best-in-class solutions designed by cybersecurity specialists and DeFi experts.
We also partnered with BitGo, the industry’s leading digital asset custodian, to ensure the highest level of security for our multi-signature wallets and vaults.
Security is one of the top things that matter for us, and we do everything to ensure that our client’s funds are safe. About a bug bounty? This is been analyzed and we would inform the community about it as soon as a decision is made, thank you for your suggestions!
Q8. What is the YIELD economic model and how will its architecture ensure scarcity of the token and help to growth token price ?
Ans — Good question, next week we are releasing our next token utility and economic model. We reward all investors on YIELD.app with YLD and will boost a users APY from 10–20% by holding a balance in YLD. As we continue to grow users an AUM we predict the demand for YLD will only grow.
Q9. What sparked the creation of YIELD and was it hard to actually start it? Which companies do you view thèm as potential partners and that they are somewhat also benefitial for both userbase and YIELD itself?
Ans — Every online wallet is a potential partner because they have a lot of money just sitting around. We see also security companies as part of our partnership scope.
Communities are our n1 focus and we want to open doors to different communities. WE are happy to announce our Chinese community next week, and we already have communities in the PH, Vietnam, Indonesia and global.
Q10. Can you tell us what are your strategies for attracting new customers? Trust is very important — how can you earn the trust of your customers?
Ans — Transparency, consistency, and good communication. There is no shortcut and this is my 3rd digital bank. My first 2 are very successful and there is a formula we follow to build trust and earn client deposits and investment.
Here are some important links of Yield App 👇
Official Website: https://www.yield.app/