The platform seeks to maximize user returns on yields, leveraging the stability of BUSD to ensure profitability.
YSL.IO is designed to become a cutting edge DeFi tool that can optimize and amplify returns made from yield farming. YSL.IO is also concerned with maximising the benefits of locked liquidity. This is done through their system of vaults that compound yields. The main advantages of YSL.IO are found in their optimization of their farming rewards, as well as their excellent referral program that incentivizes investors to share the platform with friends.
What is YSL.IO?
YSL.IO autonomously creates locked liquidity in the yield farming process to boost yields by 300%. Once an LP token is deposited into the vault YSL.IO takes care of the rest with their auto-compounding vaults. Further to this YSL.IO also provides amplification rewards. According to YSL the optimization program is easily accessed, requiring only that users deposit their Liquidity Pool (LP) tokens from Automated Market Makers (AMMs) into the corresponding active vault from YSL.IO. From the outset users will be able to deposit tokens from either PancakeSwap or ApeSwap with further additions to come including Belt Finance, bZx Network, Goose Finance and Wault Finance. Unlike other platforms, YSL.IO does not impose deposit or withdrawal fees. YSL.IO smart contracts will be deployed on Binance Smart Chain (BSC). YSL.IO specifically opted for BSC due to lower transaction costs. This will allow the platform to make more interactions and pursue more elaborate techniques as compared to other yield farming platforms.
The YSL.IO has no set maximum supply for the YSL token. This stems from the protocol’s core objective of maximizing the benefits attributable to locked liquidity. With this in mind, the protocol has been uniquely designed to ensure there is a perpetual growth of YSL-BUSD 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. This essentially will have a domino effect on the amount of sYSL tokens that will be minted, as the increase in locked liquidity will lead to the sYSL token appreciating. Having said that, it’s worth noting that the circulating supply after the price discovery phase will also be influenced by several other factors. These factors include the utilization of the amplification function, platform referral activity and overall demand for the protocol.
The protocol will adopt a multi-faceted approach to ensure there is a continual formation of locked liquidity. One of the benefits of continually creating locked liquidity relates to the inseparable link held between the sYSL token and YSL-BUSD liquidity, whereby the price of the sYSL token is dependent upon the sum total of YSL-BUSD liquidity. In other words, any increase in locked liquidity will inadvertently result in the price appreciation of the sYSL token. The utility token (YSL) will also benefit from YSL-BUSD locked liquidity in the form of reduced slippage. With this in mind, the YSL.IO protocol has been specifically designed to generate locked YSL-BUSD liquidity autonomously through several in-built mechanisms.
To ensure the maximum possible organic growth of the protocol, YSL.IO will adopt a strong referral program after launch. Any user who joins the platform from a referral link will gain an additional 0.5% APR on their base return. For those who refer, a 0.5% APR boost will be available to them based on the TVL of each user who connects with that link. In this way both the referrer and the person being referred benefit from the organic growth of the platform.
How the YSL.IO Optimization Process Works
The YSL.IO optimization process is as follows:
The user first deposits their LP tokens into any vault held on the platform with zero deposit fees being incurred.
The protocol then optimizes the third-party optimization tokens.
For performing the optimization a controller fee is deducted from the APY on a daily basis.
This fee is then converted into BNB and used to cover gas related costs incurred by the protocol.
10% of the tokens APR are split 80:20 with the larger potions contributed towards buy-back rewards
All tokens are held in a temporary pool and converted by the protocol into BUSD at the end of each day. The sum total of BUSD collected is then split 80:20, with 80% being sent to the buy-back mechanism within the YSL protocol, and the remaining 20% sent to the team wallet to cover ongoing operational expenses.
The other 90% of the tokens APR are contributed to YSL-BUSD locked liquidity
The accumulated tokens are converted by the protocol into BUSD at the end of each day, with the protocol minting an equivalent number of YSL tokens. The total is then sent to the YSL-BUSD pool, with the LP tokens deposited into the locked liquidity contract for a predetermined period of 1,000 years.
User will receive optimization rewards – 300% of the tokens APR, less the controller fee.
User will receive amplification rewards – based on the TVL held within the optimised vault.
2021 Q3 – YSL.IO governance integration
A preliminary version of the community-governance function will be integrated
sYSL vault participants will be able to use their sYSL tokens to vote on proposals
A more comprehensive version will be integrated at a later stage
Frontend UI/UX language translation (Simplified Chinese, Indonesian and Vietnamese)
2021 Q4 – YSL.IO cross-chain integration
Cross-chain integration will be the next step on our journey
Polygon and Ethereum will be first in line and more to come soon
15% airdrop allocation for participants of the sYSL vault
Cross-chain swaps through Ethereum via Uniswap cross-chain bridge integration
If YSL.IO can deliver on its promise of maximizing yields by up to 300% then it will have found a formula that will prove popular with DeFi community members. The project incentivizing platform adoption via their strong referral program will be a key factor in increasing their user base. YSL.IO has plenty of future plans as well, solidifying their long-term goals as a multi-chain platform that benefits user interaction.
Source : bsc.news
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