Jun 27, 2021
Recap of the YSL.IO AMA with Blockchain Space
On Sunday, June 27th, we had the pleasure to welcome to our Telegram chat:
Hardev Dhillon, The Co-Founder of YSL.IO.
We asked him questions about the development of YSL.IO.
INTRODUCTION
Q~ Thanks for joining us. Introduce yourself and your function in YSL.IO to the blockchain space community ?
A~ Greetings Everyone 👋🏻
Its great to e-meet you all today, and thanks for tuning into this AMA!
I am Hardev Dhillon, the Co-Founder of YSL.IO
I’ll begin with a brief background on myself; I’m a Certified Practising Accountant (CPA) with a professional background in Finance, Accounting and Business, specialising in Financial Risk Management and Advanced Taxation (I love numbers!). I have broad experience across banking/accounting (HSBC, Westpac, KPMG, and Deloitte), which 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/functions.
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, and has 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 a number of Blockchain projects including Zencash (which is now known as Horizen).
In addition to @simran_ysl and myself, we have a dedicated team of seven blockchain developers + one UI/UX designers that are focused on the development of our smart contracts and platform . Each of them 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 for our 12k+ community. We also have a marketing team that are hard at work, drumming up informative materials that will help spread awareness of our unique concept.
Q~ What is YSL.IO all about, and how does YSL plan to make the blockchain industry a better place for blockchain users ?
A~ Our project name (YSL.IO) is derived from the key features of our unique protocol; high YIELDS, rewards for STAKING and locked LIQUIDITY.
YSL.IO 💎 = [ ⭐️ Yield + 💗 Staking + 🌊 Liquidity ] = 🚀
Our goal is to make YSL.IO the best place for DeFi users to maximise returns on their crypto assets!
We accomplish this through our completely novel approach to yield farming, that centres around our protocols ability to autonomously create locked liquidity whenever a user interacts with our platform.
Platform user’s will be able to benefit from this continual creation of locked liquidity when they use our unique optimisation function.
Unlike traditional optimisers that harvest and compound interest daily, ours has been designed to maximise returns through the creation of YSL-BUSD locked liquidity and will optimise the APR (%) of positions held by users on AMMs (such as ApeSwap or PancakeSwap) by 300%!
For example — It will maximise the APR of CAKE-BNB position on PancakeSwap from 58.29% to 173.67%! 🚀
That’s not all! As our protocol is also capable of improving these optimised returns by a further +100 APR%, through activation of our Amplification function!
More details on our protocols core functions can be found in our Gitbook (👉docs.ysl.io)
Q~ Explain about $YSL token usecases and tokenomics distribution ?
A~ Our token economy is made up of three components:
⚡️ YSL token — Utility
💎 sYSL token — Governance
🌊 YSL-BUSD liquidity pool — Held on ApeSwap Finance
Those that participate in our Private sale and Public sale will receive sYSL tokens.
YSL is the utility token for the YSL.IO protocol, its main use case is the creation of YSL-BUSD locked liquidity.
✅ sYSL use case:
1️⃣ Governance — sYSL tokens will operate as the governance token for the YSL.IO platform, token holders will be able to vote on various proposals once the community-governance function is integrated.
2️⃣ Staking — sYSL token holders will be able to stake their tokens in our sYSL vault.
✅ YSL use case:
1️⃣ YSL-BUSD locked liquidity - The YSL token is used to create YSL-BUSD locked liquidity, this is done autonomously by the protocol
2️⃣ Staking - Liquidity providers of the YSL-BUSD pool (on ApeSwap Finance) will be able to stake their LP tokens into our YSL-BUSD vault
There is no set maximum supply for the YSL token. This stems from the protocol’s core objective of maximising the benefits attributable to locked liquidity.
Given that the formation of locked liquidity fundamentally requires the protocol to mint YSL tokens; it would be counterintuitive to have a capped supply for the token, as this would effectively place a limit on the amount of locked liquidity that can ever be created.
Similarly, there will be no set maximum supply for the sYSL token, as having a limit on the supply will restrict the creation of locked liquidity. This is because, whenever a user decides to purchase an amount of sYSL tokens, locked liquidity will be created equivalent to 200% of the purchase value.
The initial token supply for both tokens will be determined upon the conclusion of our 30-day price discovery phase (23-day private sale + 7-day public sale).
The initial supply for the sYSL token will be dependent upon the amount of bonus value created from the bonus multiplier, the sum total of the referral bonus and the sum total of BUSD collected.
Once the initial price and supply has been determined, the protocol will be able to mint the airdrop allocation (40% of the initial sYSL token supply), this means the sum total supply of sYSL tokens = 140%.
The sYSL token supply (100%) distribution will be as follows:
- 71.43 % (100% out of 140%): Price Discovery Participants, including those that receive a referral bonus. (Variable lock period)
- 7.14 % (10% out of 140%) : REM Guardian Airdrop (1,500 day lock)
- 7.14 % (10% out of 140%) : Founders (1,500 day lock)
- 7.14 % (10% out of 140%) : Development (1,500 day lock)
- 3.57 % (5% out of 140%) : NUX Holder Airdrop (1,500 day lock)
- 3.57 % (5% out of 140%) : Treasury Airdrop (Indefinite lock)
You can find all the details about our unique tokenomics model here 👇
Q~ Share with the community, full details on your upcoming private sale and yet to be launched Vault ?
A~ Our platform will be a fully operational with live vaults after our 30 day price discovery phase.
Our private and public sale is open to all, there’s no whitelist and everyone is welcome to participate!
The private sale begins on July 1st & the public sale begins on July 23rd.
And we have some exciting benefits during the Price Discovery Phase:
✅ Bonus multiplier
Our bonus multiplier will effectively add a bonus on top of any deposits that you make!
During the private sale the multiplier is set to 3.00x! So if you were to deposit 5k during the private sale, you will essentially receive 15k worth of sYSL tokens, that’s $10k of bonus value 🤯
✅ 10% Referral bonus program
We are also running a referral bonus program during the price discovery phase, where you can earn 10% on the contribution made by those you refer.
So if you were to refer someone that had a $60k contribution you would get back $6k worth of sYSL tokens at the end of the discovery phase.
For all the details, please refer to our Gitbook
A preview of our platform 🦾
Q~ What has YSL.IO achieved so far, can you present your plan for 2021 ?
A~ Our partnership with ApeSwap Finance has been one of our recent highlights in the development of YSL.IO.
With this we have been able to leverage a special vesting factory (locked liquidity smart contract) offered by ApeSwap Finance for our price discovery phase and for all future creation of locked liquidity. This smart contract will also serve to lock all the YSL-BUSD LP tokens generated by our protocol.
And more recently, we were lucky enough to have been accepted into the highly coveted ApeSwap BUIDL program!
This is huge for YSL.IO in terms of increasing the awareness of our project, as they have a growing user base of over 400,000!
Not only that, it will enable us to collaborate and form meaningful partnership’s with other projects within the ApeSwap ecosystem to increase our reach!
The announcement can be found in the most recent #BUIDL newsletter released by ApeSwap 👉
And in our most recent medium article👉
We can always be better, and intend to grow YSL.IO on all levels and fronts!🚀
Here’s what we have in store for 2021:
❇️ YSL.IO platform launch
❇️70+ AMAs (Telegram +WeChat)
❇️ Initiate audit of smart contracts
❇️ 30-day price / supply discovery phase
❇️ Establishment of the YSL/BUSD liquidity pool
❇️ YSL token listing (CoinMarketCap, CoinGecko)
❇️ Cross-chain integration(s) with Polygon and Ethereum
❇️ A preliminary version of the community-governance function
❇️ Gitbook language translation (Simplified Chinese, Vietnamese)
❇️ Frontend language translation (Simplified Chinese, Vietnamese)
❇️ Cross-chain swaps through Ethereum via Uniswap cross-chain bridge integration
QUESTIONS FROM TELEGRAM
Q~ Optimisation and amplification of yeld farming returns is the main features of YSL.IO…can you explain to me briefly the advantages of YSL.IO for defi users and what problems it solve?
A~ The benefit our optimisation function is its ability to provide high yields on low APR (%) stable coin farms.
As during a bear market, farmers would likely switch their positions to stable coins which typically have low APR (%), and platforms that are able to offer greater returns on stable coin positions will increase in demand.
For example; the BUSD-USDT farm on ApeSwap Finance currently yields an APR of 14.66%.
Traditional optimisation (harvesting + compounding daily) would only result in an APY of 15.79%.
Whereas YSL.IO optimisation is capable of obtaining an APY of 42.78% 🚀
This will not only guarantee our survival during a bear market, but will increase our market share + TVL 🤩
And as the TVL of the platform increases with more users, the more YSL-BUSD locked liquidity is created, the greater the price of the sYSL token! 🚀
⏫ YSL.IO TVL = ⏫ YSL-BUSD liquidity = ⏫ sYSL token price 🚀
Q~ Almost 80% Investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term ?
A~ What makes our tokenomics model truly novel, is that the price of our native governance token (sYSL) is tied to YSL-BUSD locked liquidity!
In other words; as the TVL of the platform increases with more users, the more YSL-BUSD locked liquidity is created, the greater the price of the sYSL token!🚀
Not only that, the increase in locked liquidity will also create a progressive price floor for the token and mitigate its exposure to price volatility!
YSL.IO TVL ⏫ = YSL-BUSD locked liquidity ⏫ = sYSL token price 🚀
This integration of locked liquidity within a token economy is unlike any other BSC project, and will provide long-term stability and value to sYSL token holders!
Q~ One of your killer features is your ability of create liquidity automatically, so can you please explain us how it works? That means that you don’t need Liquidity providers or Liquidity aggregator?
A~ The YSL.IO protocol has been specifically designed to create YSL-BUSD locked liquidity autonomously whenever a user interacts with the platform, this is done through 9 in-built mechanisms:
Purchase of YSL tokens ✅
(100% equivalent locked value created)
Purchase of sYSL tokens ✅
(200% equivalent locked value created)
YSL.IO Optimisation function ✅
(180% equivalent locked value created)
YSL.IO Amplification (Strategy 2) ✅
(200% equivalent locked value created)
Balance transfers between vaults ✅
(200% equivalent locked value created)
Balance transfers into the sYSL vault ✅
(100% equivalent locked value created)
Balance transfers into the YSL-BUSD vault ✅
(100% equivalent locked value created)
Withdrawals from the YSL-BUSD vault — LP token deposit ✅
(100% equivalent locked value created)
Withdrawals from the YSL-BUSD vault — Transfer deposits ✅
(100% equivalent locked value created)
You can learn more about these mechanisms here 👉
Q~ YSL.IO plans to deploy its smart contracts on the Binance Smart Chain (BSC), with the high number of Rug Pulls projects on BSC, why choose to develop on BSC platform? What distinguishes you from other BSC projects? Do you have plans to expand to other Networks?
A~ Every opportunity comes with risks, and DeFi is no exception. However, these points will help convince you of that safety and security is our top priority!
✅ FULL PRODUCT LAUNCH - The YSL.IO platform will launch with live vaults, regardless of the amount received during the private and public sales.
✅ SMART CONTRACT AUDITS - Our protocol architecture and logic will undergo multiple external audits, you can have peace of mind knowing that your funds are SAFU!
✅ LOCKED LIQUIDTY (Locked for 1000 YEARS) - The WBNB/BUSD received from the sales will be used create YSL-BUSD locked liquidity on ApeSwap Finance, No Rug Pull!
✅ TEAM - Our team is not anonymous and our blockchain developers have extensive knowledge of DeFi protocols, you can rest assured the protocols will be safe and reliable.
We’re planning a cross-integration onto chains such as Polygon and Ethereum in Q4!
You can refer to roadmap for all details on our cross-integration plans and what you can expect from us in the near future! (👉https://bit.ly/3d0FKe0)
Q~ I saw something like NOVEL OPTIMIZATION FUNCTION, can you explain how this work, what benefits will it be to users and is STAKING SUPPORTED on your platform ?
A~ Great question. So traditional optimisation involves harvesting and compounding interest daily
However, 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 YSL-BUSD locked liquidity.
Our protocol has been designed to optimise the APR (%) of positions held by users on AMMs (such as ApeSwap and PancakeSwap) by 300%!
For example: the BUSD-USDT farm on ApeSwap Finance currently yields an APR of 14.66%.
Traditional optimisation (harvesting + compounding daily) would only result in an APY of 15.79%.
Whereas YSL.IO optimisation is capable of obtaining an APY of 42.78% 🚀
Yes! YSL.IO will offer attractive staking options for our token holders!
1️⃣ All holders of our native governance token (sYSL) will be able to stake their tokens in our sYSL vault.
2️⃣ Any liquidity providers of the YSL-BUSD pool on ApeSwap Finance will have the option of staking their LP tokens into our YSL-BUSD vault.
These vaults will earn a share of the AUTOMATED MONTHLY BUY-BACK and INFLATION REWARDS that are distributed on each new block! 🤩
CONCLUSION
Don’t forget the YSL.IO private + public sale begins July 1st 🚀
🔊 You can keep up to date with YSL.IO here:
Official Channels:
🌏 YSL.IO Official (https://t.me/ysl_io)
📈 YSL.IO Traders / Price (https://t.me/ysl_price)
📣 YSL.IO Announcement (https://t.me/yslen_ann)
Community Channels:
YSL.IO China (https://t.me/ysl_cn)
YSL.IO Korea (https://t.me/ysl_kr)
YSL.IO Russia (https://t.me/ysl_ru)
YSL.IO Turkey (https://t.me/ysl_ty)
YSL.IO Vietnam (https://t.me/ysl_vn)
YSL.IO Indonesia (https://t.me/ysl_indo)
YSL.IO Spanish (https://t.me/ysl_es)
YSL.IO Portuguese (https://t.me/ysl_pt)
📚 You can learn more about YSL.IO here:
Twitter 👉. https://twitter.com/ysl_io
Gitbook 👉 https://docs.ysl.io/ysl-io
GitHub 👉 https://github.com/ysl-io
Medium 👉 https://ysl-io.medium.com
It’s really nice having the YSL.IO project in here!!!
You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to YSL.IO.
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