A cutting-edge DeFi tool designed to OPTIMISE & AMPLIFY returns from yield farming platforms through sophisticated techniques
Andrew:
So hello everyone and welcome to the AMA with YSL! Thank you for joining us today
Hardev⚡️YSL.IO:
Hello everyone ! Great to be here, thanks for having me @DrewtheAce ! 🙏
Look forward to sharing insights of YSL.IO with the bsc.news community! 🦾
Andrew:
That is great to hear, and we are excited to hear more about your project!
So let’s get into it then
1. Can you tell me about your background and how it came that you started YSL.io?
Hardev⚡️YSL.IO:
Sure, I am Hardev Dhillon, the Co-Founder of YSL.IO.
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.
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 Masters Degree in Professional Accounting.
I was drawn to the techs rapid innovation and endless solutions it offered, and needless to say I was convinced it would be a game changer not only for the finance sector but all other industries as well 🦾
More recently, the emergence of DeFi has essentially returned crypto to its roots by opening up a world of possibilities to disrupt traditional finance. With this revolution a number of product-focused systems began popping up. @simran_ysl (the other Co-Founder of YSL.IO) 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 🚀
Andrew:
That’s awesome! Always interesting to hear about how people first began into the crypto space
But with your extensive background in Finance, do you still do CPA work or is this your full time job?
Hardev⚡️YSL.IO:
YSL.IO has been keeping me busy since the beginning of the year, but i’d say its more fun an fulfilling than a regular job!
Andrew:
Hahaha yes definitely, crypto has been very fulfilling to be in
2. Can you give us an introduction into YSL? What is your mission/goal of starting this project?
Hardev⚡️YSL.IO:
Sure, so the project name is reflection of our unique protocol and its key features; high YIELDS, rewards for STAKING and locked LIQUIDITY.
YSL.IO 💎 = [ ⭐️ Yields + 💗 Staking + 🌊 Liquidity ] = 🚀
And our goal is to make YSL.IO the best place for DeFi users to maximise returns on their crypto assets and show that yield farming can be sustainable long term.
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.
Our novel approach to yield farming has been deigned with purpose to not only provide high returns for our platform users but to also ensure long term value for our native token holders!
Andrew:
Oh I see I thought the name was from Yves Saint Laurent haha
Hardev⚡️YSL.IO:
Haha not quite 😆
Andrew:
But interesting, and how does this locked liquidity become created when a user interacts with the platform? Through fees that are allocated to liquidity?
Hardev⚡️YSL.IO:
The domain name YSL.IO was costly to acquire, shows our dedication to the project 😉
So, in addition to the price discovery phase, the protocol creates locked liquidity through 9 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)
🌊 YSL.IO Auto-Lock Liquidity
YSL.IO is designed to actively create locked YSL-BUSD liquidity whilst fully utilising its benefits.
The way these mechanisms work are covered in detail in our Gitbook 👉 bit.ly/3zGjhNb
Andrew:
Ah I see, thanks for that clarification. I bet that creates huge APRs that you were talking about
3. What features will be on your platform and why should users use YSL.io rather than other projects?
Hardev⚡️YSL.IO
Yes, the creation of YSL-BUSD locked liquidity enables our protocol to optimize the APR (%) of positions held by users on AMMs (such as ApeSwap and PancakeSwap) by 300%!
For example – It will increase the APR of a users CAKE-BNB position on PancakeSwap from 58.29% to 173.67%! 🚀
Andrew:
The beauty of smart contracts haha
Hardev⚡️YSL.IO:
Platform users will benefit from our incredible APRs and zero platform fees.
❌ ZERO SWAP FEES
❌ ZERO DEPOSIT FEES
❌ ZERO WITHDRAWAL FEES
❌ ZERO PERFORMANCE FEES
And unlike other projects, the price of our native token is tied to locked liquidity.
This will ensure 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 🚀
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!
Andrew:
Yeah that is something I have not heard of before, a token that is correlated with TVL
Very very interesting
But while touching on the topic of your token
4. Can you tell me about your token more about your YSL token? What makes it unique compared to the thousands of other tokens on the BSC?
Hardev⚡️YSL.IO:
Sure, just for an overview of our token economy, its made up of three components:
⚡️ YSL token – Utility
💎 sYSL token – Governance
🌊 YSL-BUSD liquidity pool – Held on ApeSwap Finance
And as mentioned before the protocol’s core objective of maximising the benefits attributable to locked liquidity and that the price of our native governance token (sYSL) is tied to YSL-BUSD locked liquidity!
Unlike other projects, our protocol has the unique capability of creating liquidity AUTONOMOUSLY whenever a user interacts with the platform, ensuring there is a CONTINUAL creation liquidity!
I believe this sets us apart form other comparable BSC projects!
Andrew:
I see so there is a dual-token model on your platform
One for utility and one for governance
Hardev⚡️YSL.IO:
Yes that’s exactly right 👍
Andrew:
And does the governance token fall under the same mechanisms when it comes to price? That price is reflected with the TVL?
Hardev⚡️YSL.IO:
The sYSL token price will increase as more locked liquidity is created (i.e. as the TVL of the platform grows). The utility token YSL will not be linked to the locked liquidity, its primary purpose is used to create YSL-BUSD locked liquidity.
Andrew:
Gotcha, gotcha
5. What entails optimization and amplification on your platform?
Hardev⚡️YSL.IO:
So we have a completely unique approach to yield optimisation which is unlike the traditional method of harvesting and compounding interest, ours is fuelled by the creation of YSL-BUSD locked liquidity.
As mentioned before this enables our protocol to maximise APR (%) of positions held by users on AMMs (such as ApeSwap and PancakeSwap) by 300%!
Amplification is an add on feature that is activated alongside our optimisation when user deposits LP tokens into any vault on the YSL.IO platform. And by activating Strategy 2 amplification users are capable of improving their optimised returns by a further +100 APR%
More details on our revolutionary Optimisation & Amplification functions can be found in our Gitbook
Andrew:
Man all this talk of high yields is making me really excited haha
So for those that may be eager to interact with your platform
6. I see that you have benefits to your Private and Public sales, what are they?
Hardev⚡️YSL.IO:
Our private and public sale is open to all, there’s no whitelist and everyone is welcome to participate!
And that’s right we’re having a few incentives for our Private and Public Sales:
✅ AIRDROP
We are going to airdrop sYSL tokens to the Peanut (NUX) community. You need to hold a min balance of 100 NUX before 25th JUNE (ERC20).
Our recent Medium article provides information about how you can be apart of the airdrop and more details on our partnership with Peanut
Read it here 👉 bit.ly/3qeAkBs
✅ REFERRAL BONUS PROGRAM
We are running a 10% Referral bonus program during the sale period 🤩
So 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 had a $10k contribution you would get back $1k worth of sYSL tokens at the end of the discovery phase 💰
✅ BONUS MULTIPLIER
The bonus multiplier will effectively add a bonus on top of any deposits that you make during the sale period
Andrew:
Awesome everyone make sure to go check that out!
and to also have some NUX in your erc20 wallet haha
Hardev⚡️YSL.IO:
Haha yes, the snapshot is at 12pm UTC 25th June (tomorrow)
Andrew:
7. Do you have any partnerships that you believe were crucial in your development?
Hardev⚡️YSL.IO:
I would say our partnership with ApeSwap whereby we were able to utilise their special vesting factory to lock our YSL-BUSD liquidity has been instrumental in our project development.
And we were also lucky enough to have been accepted into the highly coveted ApeSwap BUIDL program!
Which is a huge opportunity 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👉
Andrew:
yes and last I heard, apeswap is also integrating to polygon, do you have any plans on expanding to other blockchains?
Hardev⚡️YSL.IO:
Yes they have gone live on Polygon!
We too want to expand the YSL.IO ecosystem, and are planning a cross-integration onto chains such as Polygon and Ethereum in Q4 2021!
Our roadmap has all details on our cross-integration plans and what you can expect from us in the near future!
Andrew:
Fantastic, thank you for that answer
and last but not least
8. Any exciting news you would like to announce here today?
Hardev⚡️YSL.IO:
I guess what’s exciting is that the YSL.IO will be fully operational with live vaults immediately after our private and public sales!
So not too long till users can experience our platform and enjoy incredible returns as well
Andrew:
So that concludes the first round of our AMA
Thank you for taking the time to answer those questions. Can you please drop a link to all your social media accounts?
Hardev⚡️YSL.IO:
Great! It was my pleasure @DrewtheAce 🙏
Sure
🔊 You can keep up to date with YSL.IO here:
Official Channels:
🌏 YSL.IO Official ()
📈 YSL.IO Traders / Price ()
📣 YSL.IO Announcement ()
Community Channels:
YSL.IO China ()
YSL.IO Korea ()
YSL.IO Russia ()
YSL.IO Turkey ()
YSL.IO Vietnam ()
YSL.IO Indonesia ()
YSL.IO Spanish ()
YSL.IO Portuguese ()
📚 You can learn more about YSL.IO here:
Twitter 👉
Gitbook 👉
GitHub 👉
Medium 👉This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
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