Recap AMA YSL.IO x Vietnam Coin Market Community

15 min readJun 25, 2021

Mr Hubert: Hello everyone,

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

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and YSL project’s representative is @hardev_ysl.

Translator: @nguyetvcm

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

After Segment 3 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

“YSL”

Today’s AMA session is composed of 4 parts:

✔️ Part 1 — Welcome

✔️ Part 2 — Q&A

✔️ Part 3 — Questions on Twitter — Guest will choose the 5 best questions from this Tweet: HERE

(https://twitter.com/chocoin_VN/status/1393478695508013058?s=20)

🏆 Reward: $10 USDT / 1 winner.

✔️ Part 4 — Free — asking: the guests will choose about 5 good questions to answer.

🏆 Reward: $10 USDT / 1 winner

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

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

Mr Hardev: Hi

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

Could you briefly introduce about yourselves as well as your project?

Mr Hardev: I’d be happy to!

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.

Here’s a quick overview of 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%.

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

Mr Hardev: Look forward to sharing insights of YSL.IO with the Vietnam Coin Market community! 🦾

Mr Hubert: Very pleased, VCM always gives the best support to the YSL 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 YSL project stand out more than the projects in the same direction at the moment?

Mr Hardev: Our novel token economy and approach to yield farming is what makes us truly stand out among other comparable BSC projects.

It has been deigned with purpose to ensure long term value for our native token holders!

Unlike other projects, the price of our native token is tied to locked liquidity and our protocol has the unique capability of creating liquidity AUTONOMUSLY whenever a user interacts with the platform, ensuring there is a CONTINUAL creation of liquidity!

This novel approach 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 🚀

More details on our unique tokenomics model can be found here 👉 https://bit.ly/2TViNlz

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 partners/clients for YSL?

Mr Hardev: Our most notable has to be our partnership with ApeSwap, whereby we are able to utilise their locked liquidity contract offered by their special vesting factory, which will enable us to lock all the liquidity generated autonomously 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 👉 https://bit.ly/3xFnf6S

And in our most recent medium article👉 https://bit.ly/3vGWiyh

We also formed also strategic partnership with peanut.trade, whereby NUX-BNB liquidity providers will be able to benefit from our protocols novel optimisation function that autonomously creates YSL-BUSD locked liquidity.

Mr Hubert: Feeling quite excited about this project. I think everyone will love it and support it as well.

Mr Hardev: Much appreciated @taitan296 🙏🙏

Mr Hubert: Can’t wait any longer. I think the audience is wanting to learn more about the project:

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

Mr Hardev: We’re extremely proud of what we have accomplished so far, although these efforts are mostly behind the scenes its an aspect that has really propelled us to develop the best possible version of YSL.IO 🦾

Here are some of our recent milestones:

✅ Smart contract development

✅ Gitbook Release (23k words)

✅ Partnership with Peanut (NUX)

✅ Partnership with ApeSwap/BUIDL

✅ Frontend development (UI/UX)

✅ Scheduled 20 pre-Launch WeChat AMAs

✅ Scheduled 50+ pre-Launch Telegram AMAs

Mr Hubert: Team VCM has supported many projects. But this project is the most different project. I think it will be successful and people will love it.

Mr Hardev: Thanks! Fingers crossed! 🙏 We are fortunate enough to have a team that enthusiastically embraces challenges and are passionate about creating the best possible version of YSL.IO, and that has really helped us overcome any obstacles.

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

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

Mr Hardev: Our private sale begins on July 1st, and the public sale begins on July 23rd.

To attract more participants 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.

❇️ 76 AMAs (Telegram +WeChat)

In addition to this, we have scheduled over 70+ AMA’s with several local communities based all across the globe, including Vietnam, China, Indonesia, Malaysia, Singapore, Korea, India, Turkey, and Iran.

Mr Hubert: How wonderful, sir. VCM will make a small contribution to the project support. Nice to do this. 😊

The last question is already done. Thank you @hardev_ysl for bringing the above useful information.

We’ll move on to segment 3: Questions on Twitter.

#1 How do the tokenomics of YSL make the token unique among so many competitors on the market, how do you expect they will affect the yield farming on the platform and the performance of users?

of https://twitter.com/Rosanela08/status/1408258609419538437?s=20

For an overview, our token economy is made up of three components:

‌

⚡️ YSL token — Utility

💎 sYSL token — Governance

🌊 YSL-BUSD liquidity pool — Held on ApeSwap Finance

There are two key things that makes our tokenomic model unique:

1️⃣ The price of the sYSL token is tied to YSL-BUSD locked liquidity.

2️⃣ We have designed the YSL.IO protocol to create YSL-BUSD locked liquidity whenever a user interacts with the platform (there are 10 ways our protocol does this 👉 https://bit.ly/3wSNery).

In other words; as users begin to use YSL.IO, the TVL of the platform will increase, causing more YSL-BUSD locked liquidity to be created, leading to the price of the sYSL token to increase!🚀

YSL.IO TVL ⏫ = YSL-BUSD locked liquidity ⏫ = sYSL token price 🚀

Added benefit to our tokenomic model: The continual growth in YSL-BUSD locked liquidity will also cause there to be a progressive price floor for the sYSL token, and the growing liquidity will also reduce the exposure of the YSL token to price volatility!

You can find all the details about our unique tokenomics model here 👉 https://bit.ly/3wMO8Wm

#2: What are the ways that YSL generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?

of https://twitter.com/longtoc2/status/1393483413215088641?s=20

Our protocols revenue is sourced from four aspects:

1️⃣ Optimisation — An equivalent of 2% collected from the APR (%) of the token being optimised

2️⃣ sYSL exit fee — An equivalent of 2% collected when sYSL is sold

3️⃣ sYSL entrance fee — An equivalent of 2% collected when sYSL is purchased

4️⃣ Inflation block reward — 20% allocation, distributed on each block

The revenue collected will go towards ongoing operational expenses, including maintenance/development of the protocol, remuneration for engineers/developers, and to cover expenditures for ongoing audits and marketing. The mechanism behind how these are collected can be found in our Gitbook (👉 https://bit.ly/3wQJM0y)

It’s important to note that our native token holders that stake in the sYSL vault & YSL-BUSD vault will also benefit from these same four aspects:

1️⃣ Optimisation — An equivalent of 8% collected from the APR (%) of the token being optimised — Contributed to the MONTHLY BUY-BACK

2️⃣ sYSL exit fee -An equivalent of 8% collected when sYSL is sold — Contributed to the MONTHLY BUY-BACK

3️⃣ sYSL entrance fee — An equivalent of 8% collected when sYSL is purchased — Contributed to the MONTHLY BUY-BACK

4️⃣ Inflation block reward — 80% allocation (50% to the YSL-BUSD vault & 30% to the sYSL vault), distributed on each block

#3: Can you please talk more about the sYSL Vault and YSL-BUSD Vault in your staking options?

of https://twitter.com/Plevnes/status/1408287962001940480?s=20

Sure,when our platform goes live, we will offer attractive staking options for our native 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! 🤩

More details can be found here 👉 https://docs.ysl.io/ysl-io/ysl-core-protocol-1/block-rewards

#4: Some projects cannot handle the stress of Bear market and the recession. Covid virus is not helping as well. How will you prevent this bad situations that the crypto markets have?

of https://twitter.com/DatBui105/status/1408034164499050500?s=20

YSL.IO is here to stay and show that yield farming can be sustainable long term.

From the outset we decided the best way to make this happen was to ensure that our token economy would be resilient, even in a bear market.

We have achieved this by designing a truly unique Tokenomics model that revolves around our protocols novel capability of autonomously creating YSL-BUS locked liquidity.

The benefit of this novel design is that during a bear market, our optimisation function will be even more attractive due to 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 🚀

#5: What are your main features that distinguish from other projects and what competitive advantages do you have?

of https://twitter.com/KGFvip707523/status/1396905819271143425?s=20

✅ Maximised APR (%)

‌

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 maximise the returns of third-party tokens through the creation of locked liquidity, optimising the APR (%) of positions held by users on a 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%!

✅ Zero fees!

We designed our platform to be extremely cost effective from a users perspective!

❌ ZERO SWAP FEES

❌ ZERO DEPOSIT FEES

❌ ZERO WITHDRAWAL FEES

❌ ZERO PERFORMANCE FEES

This not only provides the user with ultimate flexibility but also makes it extremely easy for a user to benefit from our protocols exceptional yield optimisation and amplification functions, simply deposit LP tokens into any of our vaults and our protocol will handle all the heavy lifting of maximising your returns, its that simple!

✅ Native token is tied to locked liquidity!

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 🚀

Mr Hubert: Next, the Vietnam Coin Market Community will open a chat for the community to ask questions to the project. We will have 120s to ask. The YSL project will then choose 5 questions to answer.

Let’s go!

Now!

Let’s give some mins for @hardev_ysl to choose 5 questions to answer.

@hardev_ysl, you may proceed now.

Question 1. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

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.

Question 2. What is the ratio of the YSL-BUSD locked liquidity ratio to the sYSL actual value? I’ve read that the value created between the two depends on each other. What kind of advantage does an increase in the locked liquidity area add to the YSL value?

As the protocol continually creates locked liquidity, which is added into the YSL-BUSD pool each day, the YSL token will become less exposed to price volatility over time.

This will eventually bring about the true objective of our unique Tokenomics model, of having the YSL token being stable along with a massive pool of locked liquidity, all while having our governance token (sYSL) appreciating in value each time locked liquidity gets created.

⏫ YSL.IO TVL = ⏫ YSL-BUSD liquidity = ⏫ sYSL token price 🚀

All the details on our unique tokenomics model can be found here 👉 https://bit.ly/2TViNlz

Question 3. Many DeFi protocols are just clones of existing ones, how do you seek convince us of your genuineness and how do you ensure Adequate security, are your smart contracts been audited?

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.

Here’s are some examples of features that our team has incorporated into the protocol to ensure MAXIMUM SECURITY:

1️⃣ Price Feeds by Chainlink: the protocol can better resist flash loan attacks, network congestion, and centralised infrastructure disruption.

2️⃣ Smart Contract Timelocks: these will be integrated across all of our smart contracts to protect our users and funds, as a delay/period of time is required before any changes can be made to any smart contracts.

3️⃣ Real-Time Monitoring of the Main Oracle Price: When there is a serious deviation between the main oracle and the system, the system will alert and notify our development team to ensure timely action.

4️⃣ Prevention of External Smart Contract Interaction: With the recent flash loan attacks on BSC, we will incorporate a stop on all external smart contracts to interact with the our contract, mitigating the risk of any flash loan attack within our protocol.

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.

Question 4. Adoption & Awareness about Platform is very important for any Creator as well as Users! So, What are your plans to attract More users as well as Creators with Non-crypto users too ?

We have dedicated a lot of effort to ensure the design of our interface is not only engaging but is extremely user friendly to even the most novice of DeFi users.

✅ EASY TO USE — A user simply needs to deposit LP tokens into any of our active vaults and our protocol will handle all the heavy lifting of maximising your returns by 300%, its that simple! 👍🏼

✅ COST EFFECTIVE — YSL.IO does not impose any Deposit fee, Performance fee or Withdrawal fee.

✅ TUTORIALS — We have created guided tutorials that provide easy-to-follow steps 👉 https://bit.ly/3d0Z2jp

Question 5. On your roadmap, you will presale. When is the pre-sale launch? How can we participate in the pre-sale of your project?

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, and 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

More details here 👉https://docs.ysl.io/ysl-io/ysl-core-protocol/price-discovery-participation

docs.ysl.io (https://docs.ysl.io/ysl-io/ysl-core-protocol/price-discovery-participation)

Mr Hubert: Thank you @hardev_ysl for replying to the community.

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

Thanks @hardev_ysl for joining AMA with the VCM community today. Wish you much health and success.

Again, don’t forget to join the YSL community for further assistance. Thanks everyone.

❤️ Join YSL Telegram Group (https://t.me/ysl_io), YSL Telegram VietNam (https://t.me/ysl_vn) and Channel (https://t.me/ysl_ann).

❤️ Twitter: https://twitter.com/ysl_io

VIETNAM COIN MARKET COMMUNITY INFORMATION:

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Twitter VCM: http://twitter.com/chocoin_VN

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