Q1. Could you please briefly introduce yourself and YSL.IO team?
A2. I’m a Certified Practising Accountant (CPA) with a background in Finance, Accounting and Business, specialising in Financial Risk Management and Advanced Taxation (I love numbers!). I have broad experience across banking and accounting with companies such as HSBC, Westpac, KPMG, and Deloitte.
My professional experience has allowed me to appreciate the importance of driving error-free standards for compliance, develop strategic plans for transformation, and create risk frameworks for the evaluation of a range of sectors and functions.
Beyond work, I’ve always been an advocate for Blockchain and passionate about all things Crypto. My Crypto journey initially began as an investor about 5 years ago, whilst completing my master’s degree in professional accounting.
Simran Dhillon (@simran_ysl), is the other Co-Founder of YSL.IO. Just to give you a quick background on him:
Simran has diverse professional background across IT and Business, with notable industry experience with companies such as Microsoft and HSBC.
More importantly, he is a crypto veteran that has garnered significant experience within the crypto space, both as a programmer and working in the background as an advisor for several Blockchain projects including Zencash (which is now known as Horizen).
In addition to @simran_ysl and myself, we have a dedicated team of eight blockchain developers + one UI/UX designers focused on the development of our smart contracts and platform.
Each member of our team are experts within their respective fields and are all busy working their magic behind the scenes to ensure we can deliver the best possible version of YSL.IO.
We also have a marketing team that are hard at work, creating informative articles and material that will help spread awareness of our unique concept and the numerous benefits that YSL.IO offers.
Q2. Why are you optimistic about the Defi field?
A2. The emergence of DeFi has essentially returned crypto to its roots by opening a world of possibilities to disrupt traditional finance.
I strongly believe DeFi is here to stay because it is altering the way people have access to financial instruments like lending, borrowing, earning interest. As a result, we will see even more DeFi projects spring in a bid to alter the conventional banking sector and the use of finance.
The YSL.IO platform takes DeFi to the next level and represents the Future of Yield Farming. Liquidity is an integral part of any DeFi ecosystem, and that’s why we’ve made YSL-BUSD liquidity the heart and soul of YSL.IO.
Our protocol has been designed to ensure there is a CONTINUAL creation liquidity! This has been made possible through our protocols unique capability of creating YSL-BUSD liquidity AUTONOMUSLY (https://bit.ly/3wPq5WJ).
More importantly, all the liquidity that is generated by our protocol will be LOCKED in the locked liquidity contract (ApeSwap Finance vesting factory) for a period of 1000 years!
This integration of locked liquidity within a token economy is unlike any other BSC project, and will provide sustainability and long-term value to sYSL token holders!
Q3. What problems does the YSL.IO protocol mainly solve in the Defi market?
A3: To give a brief introduction on our project: YSL.IO is a cutting-edge DeFi tool designed to maximize the returns of yield farming positions held on platforms such as ApeSwap Finance and PancakeSwap.
We have a completely unique approach to yield farming, that centers around our protocols ability to autonomously create locked liquidity whenever a user interacts with our platform.
The key features of our unique protocol are reflected in our project name; high YIELDS, rewards for STAKING and locked LIQUIDITY.
Our vision is to make YSL.IO the best place for the DeFi community to maximize returns on their crypto assets!
We’re here to bring diversity to the Binance Smart Chain ecosystem and make DeFi farming both sustainable in the long-term and rewarding to native token holders.
Q4: What are the unique advantages of YSL.IO? Are there competing products in the current market?
A4: YSL.IO challenges the status quo by being different, we have a completely unique approach to yield optimisation, that is fuelled by the creation of locked liquidity. By doing this, YSL.IO will be able to exceed the APY (%) received by any other platform!
Traditional optimisation will involve harvesting and compounding interest at set intervals. This traditional method offered by other platforms will result in a lower return when compared to the APY (%) achieved by YSL.IO optimisation.
The YSL.IO platform will offer vaults where users can deposit their LP tokens (for positions held on AMMs such as ApeSwap and PancakeSwap). Upon doing so, the YSL.IO protocol will optimise the APR (%) they receive on their positions by 300% through the creation of YSL-BUSD locked liquidity!
For example — It will increase the APR (%) of a CAKE-BNB position held on PancakeSwap from 58.29% to 173.67%! 🚀
Here’s an overview of our stand-out features:
1. Zero Platform Fees — YSL.IO is very cost effective, our platform does not collect a Deposit fee, Withdrawal fee or a Performance fee!
2. Unique Tokenomics — Our project is the first to link the native governance token (sYSL) to locked liquidity. This ensures long-term value for token holders, as the price of sYSL will increase as the TVL of the platform increases due to our protocols ability to autonomously create locked liquidity: https://bit.ly/3dTL2bG
3. Maximised APR (%) — Our protocol will optimise farming positions held on ApeSwap and PancakeSwap by 300%. These yields are far greater than any other comparable platform!
Q5. What is the token economic model of YSL.IO token? How can ordinary users get tokens?
A5: Our token economy is made up of three components:
1. YSL token — Utility
2. sYSL token — Governance (investors in our sales will receive sYSL tokens)
3. YSL-BUSD liquidity pool
There are two key things to know about our unique tokenomics model:
1. The price of sYSL (governance token) is tied to YSL-BUSD locked liquidity.
2. We have designed our protocol to create YSL-BUSD locked liquidity whenever a user interacts with the platform (there are 11 ways our protocol does this).
We believe so strongly in our tokenomic model that we have had mathematicians (gotbit.io) perform several stress tests to simulate a worst-case scenario. Their results confirm that even in the absolute worst-case scenario, where the crypto space is plunged into another bear market, the price of sYSL will continue to rise!
This is due to sYSL being tied to LOCKED LIQUIDITY. It provides solid evidence of our projects long-term sustainability and our ability to provide value to our native token holders!
We released an article of the mathematicians’ findings here: https://bit.ly/3dTTNCJ
In addition to this, the benefit of our unique tokenomic design is that during a bear market, our optimisation function will be even more attractive due to its ability to provide high yields on low APR (%) stable coin farms.
In addition to this, the benefit of our unique tokenomic design is that during a bear market, our optimisation function will be even more attractive due to its ability to provide high yields on low APR (%) stable coin farms.
This will not only guarantee our survival during a bear market but will also cause our market share to increase. This will lead to TVL of the platform to increases, causing more YSL-BUSD locked liquidity to be created, leading to the price of the sYSL token to increase!
Our project has the ultimate positive feedback loop to encourage users to hold our token in the long run!
Increase in YSL.IO TVL = Increase in YSL-BUSD locked liquidity = Increase in sYSL token price
There are two ways a user can obtain the sYSL token:
1. Price Discovery Phase / Purchase — those that participate in our Private sale and Public sale will receive sYSL tokens.
2. Block Rewards — Once YSL.IO launches, users that deposit their LP tokens into any vault will earn their optimised + amplified returns as sYSL tokens on each block.
Q6. Currently, does YSL.IO have any incentive activities for users?
A6. We have some great incentives for those that participate in our private and public sale:
1. Bonus Multiplier
The bonus multiplier will effectively add a bonus on top of any deposits that you make during the sale period!
During the private sale the bonus multiplier is set to 3.00x !
This means, if you were to deposit $5,000 during the private sale, you will essentially receive $15,000 worth of sYSL tokens, that’s $10,000 of bonus value.
2. Referral Bonus Program
We are running a 10% Referral bonus program during the sale period.
This means, if you refer someone that contributes to the sale, you will earn 10% based on their contribution made by those you refer.
For example, if you were to refer someone that made a $10,000 contribution you would get back $1,000 worth of sYSL tokens at the end of the discovery phase.
Our public sale will feature lower lock periods but with a lower bonus multiplier to compensate for this benefit, and on the final day of our public sale there is no lock period applicable but also no bonus multiplier. This provides investors the ultimate flexibility to participate, whether they prefer a high bonus multiplier or whether they prefer no lock period!
We also offer incentives to stake sYSL tokens:
(1)Airdrops — Users that stake sYSL tokens into the sYSL vault will earn will receive a share of the cross-chain airdrop each time we launch YSL.IO onto a new chain! We plan to perform a cross-integration with Polygon a few months after our platform launches. Once we do, we will airdrop 50% of the new token supply to users that stake in the sYSL vault.
(2) Liquidity mining program — Users that stake their sYSL tokens in the sYSL vault will earn liquidity rewards. These rewards are minted after the price discovery and will be distributed over 4000 days to participants of the vault, with each participant receiving a share based on the amount of sYSL tokens they have staked.
(3) Block rewards — Users that stake sYSL tokens into the sYSL vault will earn a share of the monthly Buy-Back Reward and the Inflation Reward.
Q7. Everyone cares about the issue of fund security. What efforts has YSL.IO made in this regard?
A7. Having a background in risk management, i believe its critically important to be proactive when it comes to the implementation of practices to detect potential hazards.
So, you can rest assured that security is the absolute top priority at YSL.IO!
Our smart contracts have been developed by a team of experienced blockchain developers that not only have extensive knowledge of DeFi protocols and their associated specifications, but also have an internal audit process embedded within their development process to ensure the reliability and safety of our protocol’s functions.
More importantly, our smart contracts are currently being audited by Solidity Finance (https://solidity.finance/) and we will also be engaging with Certik (https://www.certik.io/#home) to perform an additional audit before our platform launch.
In addition to external audits, our team has incorporated several features into the protocol to ensure MAXIMUM SECURITY:
1. Price Feeds by Chainlink: the protocol can better resist flash loan attacks, network congestion, and centralised infrastructure disruption.
2. Smart Contract Timelocks: these will be integrated across all our smart contracts to protect our users and funds, as a delay/period of time is required before any changes can be made to any smart contracts.
3. Real-Time Monitoring of the Main Oracle Price: When there is a serious deviation between the main oracle and the system, the system will alert and notify our development team to ensure timely action.
4. Prevention of External Smart Contract Interaction: With the recent flash loan attacks on BSC, we will incorporate a stop on all external smart contracts to interact with our contract, mitigating the risk of any flash loan attack within our protocol.
Q8. Could you please give us a systematic introduction to the future plan and vision of YSL.IO?
A8. When developing YSL.IO we were focused on quality but with a fast-paced approach.
A lot of projects nowadays promise magic with just a whitepaper, but we believe in putting the horse in front of the cart and not the other way around!
Currently our price discovery is live and will run until July 31st, and our platform will launch and be fully operational with live vaults immediately after our private and public sale ends.
At launch we will offer vaults for LP tokens from PancakeSwap V3 and ApeSwap, and will increase our offerings by 4 vaults each day.
This will include vaults such as:
CAKE
BANANA
BUSD-DAI
CAKE-BNB
BTCB-BNB
BUSD-BNB
BUSD-USDC
BUSD-USDT
TUSD-BUSD
BANANA-BNB
BANANA-BUSD.
We are fortunate enough to have a team that enthusiastically embraces challenges and are passionate about creating the best possible version of YSL.IO!
We intend to grow YSL.IO on all levels and fronts, here’s what we have in store for the rest of 2021 after our platform launch:
❇️ YSL token listing (CoinMarketCap, CoinGecko)
❇️ Cross-chain integration(s) with Polygon and Ethereum
❇️ Preliminary version of the community-governance function
❇️ Platform frontend (UI/UX) language options (Simplified Chinese, Vietnamese)
❇️ Cross-chain swaps through Ethereum via Uniswap cross-chain bridge integration
In addition to this we also have some partnerships that are currently in the works, so stay tuned for those!
More details on our roadmap can be found here 👉 https://docs.ysl.io/ysl-io/v/cn/protocol-governance-1/roadmap
Don’t forget our private sale is currently live and will end on July 24th, here’s the link to the private sale 👉 https://www.ysl.io/
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