BSCDaily.com hosts YSL.IO: A cutting-edge DeFi tool designed to OPTIMISE and AMPLIFY the returns from yield farming platforms, whilst maximising the benefits of LOCKED LIQUIDITY to create a truly unparalleled token economy.
BSCdaily – Admin: Hello and welcome to BSC Daily, @hardev_ysl! How is your day?
hardev_ysl: How is everyone doing today! We are so excited to talk to the community about PIGGY!
BSCdaily – Admin: Happy to hear! Ready to start our AMA?
hardev_ysl: Yes!
BSCdaily – Admin: Nice
Q1: What is YSL.IO all about? Give us a little summary
hardev_ysl: Here’s a quick overview of what YSL.IO stands for and some of our stand-out features:
YSL.IO = [ Yield + Staking + Liquidity ] =
YSL.IO is a cutting-edge DeFi tool designed to OPTIMISE and AMPLIFY the returns from yield farming platforms, whilst maximising the benefits of LOCKED LIQUIDITY to create a truly unparalleled token economy.
Zero Platform Fees – YSL.IO does not charge a Deposit fee, Withdrawal fee or a Performance fee
Novel Tokenomics – The governance token of YSL.IO (sYSL) is correlated to YSL-BUSD Locked Liquidity
Continual Growth in Locked Liquidity – Our protocol autonomously creates YSL-BUSD Locked Liquidity
Automated Buy-Backs – sYSL token holders and YSL-BUSD liquidity providers can stake their tokens to earn a share of the monthly buy-back.
Maximised APR (%) – Our protocol will OPTIMISE positions (held on AMMs) by 300%
Q2: Could you tell us a little bit about yourself and your team? What are your past experiences?
hardev_ysl: Let me begin with a brief intro of Simran Dhillon, the other Co-Founder of YSL.IO. @simran_ysl 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).
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.
In addition to @simran_ysl and myself, we have a dedicated team of blockchain developers + UI/UX designers 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 11k+ community. We also have a marketing team that are hard at work, drumming up informative articles and materials that will help spread awareness of our unique concept.
Q3: Why did you and your team decide to build YSL.IO?
hardev_ysl: Great question! With the emergence of DeFi which essentially returned crypto to its roots by opening up a world of possibilities to disrupt traditional finance, we began to see a number of product-focused systems popping up, and @simran_ysl and myself found ourselves drawn to the inner-workings and mechanics behind these systems, inspiring us to build one of our own.
We both had a good understanding of the yield farming space, being ‘farmers’ ourselves, and decided early on that our concept had to not only be unique but also be able deliver real value to the BSC ecosystem.
Our ethos was simple; provide value to a DeFi farmer and ensure long-term value for our native token holders. After months of trial and error, testing countless hypotheses and perfecting models, we created the unique protocol design of YSL.IO
Q4: Let’s dive into your token $sYSL. Can you share with us your tokenomics? And what are some of $sYSL use cases?
hardev_ysl: I’d love to!
So for an overview, there are 3 key components to our token economy:
YSL token – Utility
sYSL token – Governance
YSL-BUSD liquidity pool – Held on ApeSwap Finance
What makes our model truly novel, is that the price of our native governance token (sYSL) is tied to YSL-BUSD locked liquidity!
The key thing to know is that we have designed the YSL.IO protocol to create YSL-BUSD locked liquidity whenever a user interacts with the platform.
In other words; as users begin to use YSL.IO, the TVL of the platform increases, the more YSL-BUSD locked liquidity is created, and the greater the price of the sYSL token!
YSL.IO TVL = YSL-BUSD locked liquidity = sYSL token price
This means as YSL-BUSD locked liquidity increases, there will be a progressive price floor for the token, mitigating its exposure to price volatility! You can learn more about our Tokenomics model here docs.ysl.io/ysl-io/ysl-core-protocol/tokenomics
sYSL use cases:
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.
Staking – sYSL token holders will be able to stake their tokens in our sYSL vault.
Q5: Does $sYSL get audited?
hardev_ysl: 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 protocols functions.
More importantly, we will be engaging with well-known and reputable parties such as Certik and Zokyo to conduct an audit on our smart contracts:
MULTIPLE EXTERNAL AUDITS – Before we launch, our protocols architecture and logic will be audited by external parties, so you can have piece of mind that your funds are SAFU!
ONGOING AUDITS – We intend to conduct ongoing audits on a regular basis, to ensure the long-term maintenance of our protocols security.
Q6: For people who are interested in $sYSL, where can we buy $sYSL?
hardev_ysl: There are three ways you can to obtain sYSL:
Price Discovery Phase – those that participate in our Private sale and Public sale will receive sYSL tokens
Purchase – sYSL will only be available to purchase only 1 month after the platform launches. So don’t miss out on our sales, as the price will increase as users begin to use YSL.IO, and the TVL of the platform increases.
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.
IMPORTANT: The sYSL token will only available to be purchased until one-month after the platform launches. Remember that sYSL is tied to YSL-BUSD liquidity, so once the platform launches and the TVL on YSL.IO increases, YSL-BUSD liquidity will increase, this will cause the price of the sYSL token to increase. SO DONT MISS OUT ON THE PUBLIC + PRIVATE SALE!
Q7: What can we expect in the next 3 months and in 2021 as a whole?
hardev_ysl: We can always be better, and intend to grow YSL.IO on all levels and fronts!
Here’s what we have in store for the next 3 months and the rest of 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
Q8: Where can we find out more about YSL.IO?
You can keep up to date with YSL.IO here:
Twitter twitter.com/ysl_io
Telegram (EN) t.me/ysl_io
Telegram (VN) t.me/ysl_vn
You can learn more about YSL.IO here:
Gitbook docs.ysl.io/ysl-io
GitHub github.com/ysl-io
Medium ysl-io.medium.com
BSCdaily – Admin: With this we are now at the end of our AMA session with YSL.IO
Time for wrapping up, any last words you would like to say to our community? @hardev_ysl
hardev_ysl: That was a great AMA session! Thanks for having me!
BSCdaily – Admin: Thank you so much for spending time with our community & all the very best for YSL.IO
Source : cryptodaily.io
