Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with YVS Finance, on December 8th at 03.00 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 Lucas, CEO & Co-Founder at YVS Finance, 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.
Lucas — After several years of experience in financial markets throughout Europe in several banking and fintech companies, I have decided to leave the traditional sector and focus on developing innovative, transparent, and self-executing smart contracts focusing on decentralized finance products.
I have completed my studies in the field of macroeconomics. Together with my team, our goal is to build blockchain services that do not require governance or admin control and are completely self-sustainable from the deployment onwards.
We have collectively decided to stay anonymous, because we can not have and do not wish to have any further impact on the project after the initial launch as everything will be pre-programmed. This will bring the ultimate security for investors.
Introduction Questions Asked By Team BlockTalks
Q1. Could you tell us what YVS Finance is? Why did you choose this name?
Ans — Here’s a brief statement about the project, where we are at now and why we’ve chosen the name:
YVS Finance is an innovative decentralized finance project that combines the best features for creating a truly unique, transparent and secure yield-farming platform. Because the smart contracts are completely pre-programmed before launch, investors can be calm with their deposits into our project.
All tokens, from the pre-sale to the last token distributed, are coded in the contracts and can not be changed anymore. Everything will be audited by the top blockchain security firm Hacken and there will be no admin control on the contracts and no functions exposed that could lead to exploits.
Our presale starts on 11.12. and will run for 5 days, there are bonuses for early investors as well as for referrals if anyone would like to learn more.
We chose the name because it means YVS = Yield-farming, vaults and staking. We didn’t want to complicate with the name and so we decided to go with a short and descriptive name.
Q2. How is YVS Finance different from similar yield-farming projects?
Ans —We want to offer more trust to our investors. That is our primary goal. As mentioned before contracts have no owner and so after we deploy them we cannot do anything to compromise investors funds and distribution, claiming of tokens and liquidity will be automatically processed by the smart contracts themselves.
We believe that the current state of DeFi is that there are just too many hacks and rug pulls and we hope that with our experienced coding, audits and pre-programmed contracts we can shine some light on bad things that are happening in this sector.
Our presale is also different as it offers investors a new way to earn more tokens by being more active with the referral link and daily bonuses if you invest in an early stage.
We will be offering yield-farming, staking and vaults immediately on launch and with guaranteed rewards for the first 20-month period, so we believe we offer much more than many other similar projects do after several months of development.
Q3. What do you mean by “no admin control” and why is this important for investors?
Ans — To follow up my previous point:
By this we mean that the contracts can not be changed after deployment. The owner of the contracts has no control over functions which could change the distribution, transfer any funds or similar flaws that similar projects have been exposed to recently.
We have completely removed any access to sensitive functions and all the distribution is pre-programmed which means that investors can be sure about their tokens and have no fear from exploits.
Our entire contract repository will also be audited already before launch so that everyone can see that we’ve built a truly transparent and secure platform.
Q4. Will the contracts be audited and by whom?
Ans — All the contracts will be audited already before launch by the renowned cyber-security and blockchain services company Hacken, one of the best, if not the best, auditing firm on the market. The audit report will be released soon, so make sure to follow our Telegram and Twitter to receive all the latest news.
We’re certain that we’ve chosen the best possible auditing partner for our project and it will prove the quality of our services.
Questions Asked on Twitter For YVS Finance Team!
Q1. What is your advantage over other projects? Is it from a security standpoint or technology do you use? Or are there other advantages? What makes you believe that your project is worth choosing?
Ans — Here are the 3 features I would like to point out for this question:
Token contracts audited pre-launch by auditing cyber-security firm Hacken, one of the most reputable blockchain companies
Yield-farming, staking and vaults with a guaranteed 20-month reward payout period, which means that investors can be sure about receiving their return for a long period of time for deposits both in YVS, Uniswap liquidity pool tokens as well as deposits in stablecoins and wrapped bitcoin. Locking periods as well as guaranteed liquidity on Uniswap with unique deposit conditions (higher rewards for longer locking periods, 50 % of liquidity is locked forever).
Unique presale system with daily bonuses for early investors and a unique referral system that will pay out members an additional 1.0 % bonus token payout split evenly between the referrer and depositor.
Q2. You said that YVS Finance support deflationary yield farming system. Can you tell us what is deflationary farming & How it is works?and deflationary farming is better than existing farming protocol?
Ans — This means that as time goes on, due to the included 0.75 % burn rate which results in a diminishing total token supply and with a constant reward rate per day, we should be able to create long-term value for our token.
Deflationary farming is better than existing farming protocols because the investors can be 100 % sure that no more than 2.000.000 tokens can exist at any given time. There is no additional minting and this functionality is disabled. As time goes on, tokens will become more and more scarce and their value will rise.
Q3. With all the yield farming hype, a lot of tokens are offering rediculously high APY on liquidity staking. How does the YVSFinance compare, and why would a investor choose it over other yield farming opportunities?
Ans — Firstly, because all of the core features of the project will be pre-programmed, it will be impossible for us to set fake APY rates or change any of the parameters in the contracts themselves. This means that investors will actually receive the amount of rewards the calculations our platform will show to them. We’ve seen many complaints from similar projects in recent times where the earnings were not actually similar to the promised ones.
Secondly, investors should choose YVS Finance because they can be certain that no minting of tokens can happen at any time. This functionality is disabled in the smart contracts. So instead of trusting a team of developers to not create more tokens than promised, why not choose a completely programmatic approach which can provide 100 % transparency and trust. That is true decentralization.
Q4. Staking is very popular topic recently/Please tell us in detail about the $ YVS Staking plan and the benefits of adding staking?
Ans — Staking is the process of holding native tokens in a so-called staking pool which pays out rewards for locking the tokens for a certain amount of time.
We will be offering a staking pool with attractive rewards starting with a 2 week locking period. The maximum locking period will be 12 weeks and if you decide to stake for this period, you will receive an additional 10 % of rewards.
Rewards will however be claimable at any certain point in time. There are no additional withdrawal fees.
Q5. There isn’t a governance system in YVS Finance and its protocol is completely decentralized, so how is it supposed to be maintained long term?
Ans — That’s a question we’ve received quite regularly in the last few days and the answer is really simple:
It will be controlled by the smart contract itself!
This is the meaning of true decentralization where no actor can have an impact of the direction of the project. The so-called controller contract will keep distributing rewards in the future and provide incentives to investors for as long as the blockchain itself exists. No possible changes in the allocation of the pools, or any other form of flaw, that could be exploited by external hacks. Everything is pre-defined and will stay so.
Questions Asked by our BlockTalks Community Members during live Session to YVS Finance Team!!
Q1. what is the presale Hardcap and price of YVS Finance ? How many pre-sale rounds are you planning to conduct and what is the intial listing price on Market?
Ans — That’s actually the perfect question to start with!
The pre-sale hard cap is set at 100.000 YVS tokens. There will only be one public presale round and after it finished, the contracts will be deployed and the Uniswap pool will be automatically created. Users will be able to claim rewards afterwards.
The initial price is 1 ETH = 45 YVS and there are daily bonuses for early supporters and our unique referral system which I’ve mentioned before.
Q2. Over the past months we have seen many yield farming projects that are just clones or copies with a few changes to Yam or sushiswap. What is your plan to attract liquidity from the mainstream yield farms that have launched to date ?
Ans — We’ve actually created our very own staking contracts so something that sets us apart immediately, is the code itself!
Our plan to attract liquidity is by providing the first truly decentralized yield-farming project with a good foundation and long-term rewards instead of focusing on the short-term. We want to be a project that stays around for a long period and we want to bring something new to DeFi with our approach. I think we’ve created a pilot project that could inspire other developer to create similar platforms.
Q3. YVS Finance has a %0.75 of burn rate per transaction, but this always gonna be like that? This Value can be settled?
Ans — Yes, there is a 0.75 % burn rate active on all transfers except on transfers to the main staking pool.
This rate can not be changed after deployment as it is pre-set in the contract itself and is another testament to our dedication of providing no admin control.
This feature will keep the economy slightly deflationary and will also fund future rewards after the initial 20 month distribution period is over.
Q4. When will you open for sale? How many minimum and maximum can each person buy? Do I need KYC to make purchases?
Ans — The presale round will open on Friday 11th December at 16:00 PM UTC and will be accessible on our website yvs.finance.
The minimum buy is set at 1 ETH and the maximum buy is set at 50 ETH. There are daily bonuses available to early investors and by using a unique referral code you can earn up to 0.5 % extra on your claimed amount!
Make sure to read our whitepaper if you’d like to learn more:
Q5. The partnership with JustLiquidity will help YVSFinance with liquidity farming. What is the next aspect of your project that you hope to improve and enhance through collaboration with another company?
Ans — JustLiquidity is a renowned name in the blockchain industry, which provides many services to both normal users and emerging projects themselves. We will be using their services to connect to BSC in the future to provide cross-chain liquidity and also locking all remaining project tokens in their protocol for ultimate security.
This will be a huge benefit for us as it will show we have no bad intentions with the project funds and they will only be used for specific purposes such as exchange listings in the future, promotions, marketing campaigns etc.
Our second collaboration is with Hacken which we’ve chosen for the audit of our smart contracts. We believe with them we can truly show that we’ve created a proper decentralized finance project that can be trusted by any investor.
Here are some important links of YVS Finance👇
🌎 Website: https://yvs.finance
📃 Whitepaper: https://yvs.finance/files/whitepaper.pdf
📢 Telegram: https://t.me/YVSFinance
📢 Channel: https://t.me/YVSFinanceNews
🗄 Repository: https://github.com/yvs-finance/yvs-protocol