Recap AMA Yield x Vietnam Coin Market Community

12 min readJan 22, 2021

Mr Hubert: Hello everyone,

Only 10 minutes left and the AMA event of YIELD will be started

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and YIELD’s representative is @timfrost5, @mursuvalas.

Translator: @nguyetvcm

Vietnam Coin Market Group (VCM) will be locked to make the event convenient.

After Segment 2 of the Vietnam Coin Market group will be opened a chat so that the community can ask the project.

How’s everything going?
Again, it’s been my greatest pleasure to announce today’s special AMA session

“YIELD”

Today’s AMA session is composed of 4 parts:

1 — Say hello, introduce the project

2 — AMA moderator asks the project 4 questions that will be selected first)

3 — Ask the community (unmute the channel and let the community ask questions freely on telegram. Then the guests will choose about 10 good questions to answer)

4 — Quiz — Give 5 quizzes to the community to answer

Please like, follow, and retweet this tweet: https://twitter.com/chocoin_VN/status/1350853781194326016?s=20

Please join the Yield group: Telegram: https://t.me/yieldapp

Telegram Việt Nam: https://t.me/YIELD_VN

Craving for the question rain ahead after I unmute the group.

Anyway, let’s get the curtain roll-up and welcome @timfrost5, @Jan_YIELD.

Mr Tim: Glad to be here today and talking about yield.app

Mr Hubert: Hello sir. It’s a pleasure to all of you who participated in the AMA today.

Do we need to wait about 3 min? Because Jan is still not online.

Mr Tim: We love Vietnam and the crypto community there. It’s our honor.

Mr Hubert: Yes, VCM is also honored to support the Yield project. Hopefully, after today’s AMA, more people will love the Yield project.

Mr Nguyet: Hey Sir, Welcome to VCM Community ❤️

Mr Hubert: Could you briefly introduce about yourselves as well as your project?

Mr Tim: My name is Tim Frost and I am CEO of YIELD

I have a rich Fintech, marketing, business development, and operations background. YIELD.app is my 3rd digital bank and I have been a key figure with many successful fintech and blockchain companies. Specializing in early-stage growth, operations, and development. I was part of the founding Wirex team and supported operations, business development, and marketing for the first 18 months. I also joined and helped take EQIBank to market a global digital challenger bank with an average client AUM of $250,000. I have helped accelerate early-stage blockchain startups QTUM, NEO, Paxful, Polymath, Selfkey, Everex, and many others.

Mr Jan: Hello everyone, I have been a growth hacker and digital nomad for more than 10+ years and not leading the growth at YIELD. I’ve helped successfully scale-up companies in the sphere and I was the head of marketing at Paxful, now the largest P2P marketplace worldwide. I’ve scaled up Paxful from 50 000 users to more than 4.5 million and from revenue perspective from 100k$ USD to 45 million USD weekly.

Mr Hubert: How wonderful, sir. The VCM audience is also eager to study the YIELD project.

Looking forward to have our audiences to know more about the project and the views.

Let’s get to the first question we’d like to know from you.

What makes the Yield project stand out more than the projects in the same direction at the moment?

Mr Jan: YIELD is a simple and easy-to-use application, much like normal online banking with all the heavy lifting performed by our portfolio team at the backend.

Our goal is to make DeFi accessible to anyone using our intuitive app and web platform. The idea is that users simply deposit crypto or traditional currencies and select the investment plan that suits them best.

We also operate under a banking license, offer insured and innovative financial products managed by a team with years of experience in FinTech and cybersecurity. This ensures that our users always feel comfortable earning with us. At the core of our strategy, our YLD token allows for transparent governance, rewards loyal community members, and supports social impact initiatives.

Mr Hubert: Yield is like an online electronic bank. Do you need more information for this question? Jan

Welcome @Justin_YIELD

Mr Justin: Hi everyone! Apologies for coming in late. But thank you for having us!

Mr Hubert: No problem. We will continue with the AMA.

Mr Jan: We want to let the product speak for itself, we already have some community members whitelisted for early access and they’re already enjoying the APY 🤑

Mr Justin: To answer, from MVP launch we are offering 1 DeFi investment product. We are making it easy to put money on YIELD App and your crypto will essentially be invested in dozens of high yielding and safe DeFi products through us. Invest as little as $100 on the platform. We aggregate your investment to maximize your returns and make DeFi easy, simple. Through us, eliminate the high gas fees, we have a team full time analyzing, auditing smart contracts, and searching for the best yielding opportunities.

Mr Hubert: WOw is great. Maybe everyone will love the App.

I think this is a big difference of the Yield project.

Mr Tim: Our team has a strong track record of building great financial technology companies. Our product is built to last the through all market cycles and safely earn yields.

Mr Hubert: Thank you, we could give some mins for our audiences to read more about the comment.

We will come to the next question:

Who are some business partner/clients for Yield?

Mr Tim: Avalabs we just announced which is exciting for us to bring more DeFi opportunities for our clients and improve the effectiveness of DeFi.

In addition, we are backed by:

https://www.alphabit.fund/

https://bnktothefuture.com/

https://digistrats.com/

https://www.palcapital.com/

https://www.yeomans.capital/

https://chronosvc.com/

David Johnston (Factom)

Trevor Koverko (Polymath)

Eric Gu (Metaverse)

Tim Bos (Sharing)

Dustin Byington (Wanchain)

DuckDAO

Michael Terpin

Jeff Kirdeikis

TrustSwap

Recently, MerkleScience, DefiGo and Avalanche joined the YIELD family 💪

Read more about it here and on our Medium:

https://www.yield.app/about-us

https://yieldapp.medium.com/

Mr Hubert: What a great Jan. I see quite a few major partners.

Mr Justin: For the clients, our clientele are usually from Europe, Canada, Netherlands, Australia. Thankfully we are getting known here in Asia

We are growing in China, and of course, in Vietnam.

Mr Hubert: Asia like Vietnam loves to use technology. Especially apps like Yield.

Can not hesitate any longer. I think the audience wants to know the development of Yield:

What are the memorable milestones of Yield in the research and development process?

Mr Justin: We’ve achieved so much in such short time since we started middle of last year. Our sold out listings, being number one on CoinMarketCap’s trending list for a couple of times, and so much more! We also have a blog for the members to have an overview of what’s coming ahead: https://www.yield.app/post/yield-app-accelerates-its-mission-toward-defi-banking-in-your-pocket

Mr Hubert: Exactly. This blog is very detailed.

Feeling quite excited about this project, sir. I think everyone will love it and support it as well.

Mr Jan: We also have this article to recap all of DeFi’s major highlights:

https://www.yield.app/post/a-look-back-at-2020-the-year-of-defi

Mr Hubert: We to the last question of the Q-A segment:

What does Yield plan to do to attract more users in the upcoming time?

Mr Justin: We want DeFi to be accessible for everyone. We aim to support fiat gateways in South East Asia in Q2 2021. We plan to open eventually to all markets but our main focus will be South East Asia and Europe.

Mr Hubert: It would be great if Vietnam got to get fiat usage early.

Mr Justin: Watch out for it! 🚀🚀

Mr Jan: In addition to creating the best and most straightforward app, we want to continue making strong partnerships with different communities and KOLs. We believe that true YIELDers and token HODLers will be key to the project’s success 🔑

Mr Hubert: I think this VCM can support the project and there will be many AMA audiences today who want to do it too.

The last question is already done. Thank you @timfrost5, @Jan_YIELD, and @Justin_YIELD for bringing the above useful information.

Next, the Vietnam Coin Market team (VCM) will open a chat for the community to ask questions to the project. We will have 3 min to ask. The YIELD will then choose 10 questions to answer.

Note: Do not copy questions asked by other community AMAs about YIELD.

Let’s go!

Now!

Let’s give some mins for @timfrost5, @Jan_YIELD, and @Justin_YIELD to choose 10 questions to answer.

@timfrost5, @Jan_YIELD, @Justin_YIELD you may proceed now.

Question 1. Currently Razor Network is blockchain agnostic and can run on any ethereum compatible network. So in the future do you plan to develop that Razor Network can be compatible with other platforms like bep2 or tron?

Put simply, we will be chain agnostic. As we grow we will move more strategies from our sandbox over to our portfolio products. For the launch and protection of our users, we will start with one foot in front of the other. We’re building IP in our service delivery model by putting together a front-end simple application that is familiar to everyone. At the backend, we have a team of analysts, quants, portfolio managers, and developers that are building an automated allocation, analysis, and secure portfolio management suite that doesn’t exist today but is designed to maximize opportunity regardless of the pools and farms we interact with.

Question 2. The DEFI space is very young and is changing rapidly. My question is, how flexible are your tools to adapt to changes in the DEFI crypto space?

DeFi is the natural progression that Bitcoin kickstarted for a more efficient financial system, inclusive indeed. With the experience of the team, we are well prepared to adapt to the changes and provide the best banking experience through YIELD.APP. We are evolving daily our strategies and continue to build out our tools.

Question 3. Currently DeFi project is on fire. But you know very well that, contract security is a big issue in DeFi. Has your smart contract been audited? How do you guarantee the protection of users’ funds?

Transparency, trust, and ease of use. We are creating a neobank for our customers built around the DeFi asset class to create superior returns, a frictionless customer experience and continuously evolving products that are useful without all the stress and cost you’d incur, if you tried to do it yourself.

Question 4. Projects that are not traded on major exchanges remain unnoticed. What does you think about listing the token on the leading exchanges?

As of now we’re focusing on Tier 1 & 2 listing for different regions globally and regionally. Stay tuned on our channels as we continue to share our token to more exchanges! #HODL while you can ;)

Question 5. On moving forward through your roadmap, what are your most important next priorities? Does your team have enough fundamental (Funds, Community, ect) to achieve those milestones?

We have our roadmap public to keep us accountable to our community 🛡:

Platform and Application

- Increase accessibility and adoption of YIELD App’s platform

- Reach 10,000 monthly active users

- Complete and deliver iOS and Android mobile apps — available in app stores

- Open deposits for BTC, ETH, wBTC, and other stablecoins

- Enable coin and token swaps within the platform

Fund Management

- Continue developing alternative fund management strategies

- Deploy and manage BTC fund

- Deploy and manage ETH fund

Build-out capabilities for $100M+ in assets

Banking Services

- Finalize and open fiat ramps that are cost-effective for our users

- Continue to pursue the best-available partnership for a debit card program.

Question 6. Revenue is an important aspect for all projects in order to survive and keep the project / company up and running. What is YIELD way of generating profit / revenue? What is the income model?

We take a fee of profits above what we pay to our clients. In the backend we have build our portfolio management system which is how we take positions and diversify our approach. We have performed very well in the testing environment in the last months as we have continued to build out our capabilities.

Question 7. There are 3 core issues prevalent in crypto and blockchain:

Security, Interoperability, and Scalability. so

How does Your Project plan to overcome these issues?

We solve this for our users by eliminating all gas costs. We handle everything on our back end, making it a simple one-step process to enter into defi investments. we think this is how we solve the scalability issue.

We have identified critical systems and will continue to stress-test these alongside market-related technology security scenarios to mitigate and remove points of failure across our operating environment, including DeFi instruments held in our portfolios.

We are building in-house technology solutions and employing industry-leading experts in their fields; data security consultants supported by our various oversight, enterprise, and risk management committees and frameworks themselves adopted from traditional funds and capital markets best practices.

YIELD has a core team of experts, our ‘Portfolio Managers’ who work closely with our technology, risk, and software engineering teams who are developing proprietary automated portfolio allocation and portfolio management tools for safely accessing a fast-expanding DeFi ecosystem.

Also we are working with some of the top smart contract auditors in this space.

Question 8. Regarding regulations. Has YIELD already acquired a banking license? Are you a fully regulated company?

YIELD.APP has already successfully acquired an off-shore banking license to support our launch. Typically it takes time to reach multiple jurisdictional regulatory approvals, so in that respect, we are setting out our intentions from the start and will continue to add licenses as we go for all of our activities.

For AML, this is a standard and minimum requirement whereby we work with industry leading reg-tech providers to strike a balance between over aggressive and cumbersome KYC and frictionless onboarding for our users.

By doing things right, we can grow, outperform our competitors while keeping our customers safe.

Question 9. Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners? Can anybody anywhere use this project without Any restrictions?

As of the moment, we have a location restriction in America.

For the past couple of months, we are strengthening our market in Asia (specifically southeast), Africa, and Europe.

Question 10. While you build your project, do you take into account community feedbacks and demands?

First, we are winning part of the community so they can truly trust in what we do, (in just a few months and few weeks we’ve gathered more than 30,000 subscribers and followers on our different social media channels, organically) and after that, win different communities and allies. We are open and keen to new partnerships and we are doing AMAs almost every single day, so people learn and get to know more about us. The best way to win the community is to be transparent and do the heavy lifting so they can flourish. Another thing is the Team. We have a super experienced team, with a seasoned executive CEO like Tim Frost, leading the project. It is an honor to have @timfrost5 leading YIELD.

Question 11. Could you give an overview of $ YLD Token tokenomics? Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage or burning?

We don’t burn token but we plan to buy back some of our token, this creates eventually a buy pressure. This is good for the early investors but also for growing the treasure and getting more people hyped.

We are building products for normal people. Even for us despite being in the crypto community for more than 5 years some of the DeFi protocols seems super complex and costly. We truly believe that everyone should be able to participate in these high Yielding opportunities no matter what the knowledge or capital.

Mr Hubert: Thank you @timfrost5, @Jan_YIELD, and @Justin_YIELD for replying to the community.

We will go to Segment 4, the YIELD will ask the question. The person with the fastest correct answer will win.

Each person can only answer 1 time / 1 question.

Please @timfrost5, @Jan_YIELD, @Justin_YIELD to ask Quiz questions.

Quiz 1. Where are the 3 (three) listings of YIELD?

Bithumb

Uniswap

Bitmax

Quiz 2. What is the minimum APY an individual can earn through YIELD APP?

12%

Quiz 3. What are the 2 continents of our target market?

Asia (specifically southeast), Africa, and Europe.

Quiz 4. What is the maximum supply of our YLD tokens?

Yes, it’s 300,000,000 (300M)

Quiz 5. What are the names of YIELD App’s CEO, COO & CFO, and Marketing Lead?

CEO — Tim Frost

COO & CFO — Justin Wright

Marketing Lead — Jan Strandberg

Mr Hubert: So the AMA YIELD at Vietnam Coin Market (VCM) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the YIELD. I am the moderator today. Congratulations to the YIELD.

Mr Justin: Please do not forget to follow our social media accounts for more updates regarding our products:

Reddit: https://www.reddit.com/r/Yield_App?utm_medium=android_app&utm_source=share

Telegram: @yieldapp

Twitter: https://twitter.com/YieldApp?s=09

Facebook: https://www.facebook.com/Yieldapp-101294771725543/

Have a great night ahead, everyone!

Thank you for having us again!

Mr Hubert: Thanks @timfrost5, @Jan_YIEL, @Justin_YIELD for joining AMA with the VCM community today. Wish you much health and success.

VIETNAM COIN MARKET COMMUNITY INFORMATION:

Website: http://vcmcommunity.online

Medium: https://chocoin-vn.medium.com

Youtube VCM: https://www.youtube.com/c/vietnamcoinmarket