Here’s our 97th AMA recap!

Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with YSL.io July 2, 2021. This guest star,

  • Hardev Dhillon — Co Founder

Hardev⚡️YSL.IO :
I’d be happy to!

Greetings Everyone, Its great to e-meet you all today!

I am Hardev Dhillon, the Co-Founder of YSL.IO

A brief background on myself; I’m a Certified Practising Accountant (CPA) with a background in Finance, Accounting and Business, specialising in Financial Risk Management and Advanced Taxation (I love numbers!). I have broad professional experience across banking/accounting (HSBC, Westpac, KPMG, and Deloitte)

QUESTIONS MODERATOR

Can you give us a detailed introduction to YSL.io? And what is the vision and mission?

Hardev⚡️YSL.IO :
Sure!

YSL.IO is a cutting-edge DeFi tool that has been designed to maximise the returns of farming positions held on platforms such as ApeSwap Finance and PancakeSwap.

We have a completely unique tokenomics model and novel approach to yield farming, that centres around our protocols ability to autonomously create locked liquidity whenever a user interacts with our platform.

The key features of our unique protocol are reflected in our project name (YSL.IO); high YIELDS, rewards for STAKING and locked LIQUIDITY.

YSL.IO 💎 = [ ⭐️ Yield + 💗 Staking + 🌊 Liquidity ] = 🚀

Our vision is to be make YSL.IO the best place for DeFi users to maximise returns on their crypto assets!

We’re here to bring diversity to the BSC ecosystem and make DeFi farming both sustainable and rewarding, one block at a time.

What makes YSL.io different? How does YSL.io do better than the competitors? What are the highlight of YSL.io?

Hardev⚡️YSL.IO :
Here are the key highlights that set us apart from any other comparable project:

✅ AUTO-LOCK LIQUIDITY

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

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

This 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!

✅ MAXIMISED APR (%)

We have a completely unique approach to yield optimisation, one that is fuelled by the creation of YSL-BUSD locked liquidity and is able to maximise the APR (%) of positions held by users on a AMMs (such as ApeSwap and PancakeSwap) by 300%!

For example;

●The BUSD-USDT farm on ApeSwap Finance currently yields an APR of 14.66%

●Traditional optimisation (harvesting + compounding daily) only results in an APY of 15.79%

●YSL.IO optimisation will obtain an APY of 42.78% 🚀

✅ 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

The security of DeFi is also a link that everyone is very concerned about. What measures does YSL.io take to ensure or maximize the platform’s financial security?

Hardev⚡️YSL.IO :
Great question!

Our contracts are currently being audited by Solidity Finance (https://solidity.finance/) and we will also be engaging with Certik (https://www.certik.io/#home) to perform an additional audit before our platform launch

And we intend to conduct ongoing audits on a regular basis, to ensure the long-term maintenance of our protocols security.

In addition to audits, our dev team has incorporated the following features 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.

Would you care to explain the tokenomics of YSL.io? How sYSL tokens comes into play in YSL.io ecosystem?

Hardev⚡️YSL.IO :
For an overview; our token economy is made up of three components:

1. YSL token — Utility
2. sYSL token — Governance
2. YSL-BUSD liquidity pool — Held on ApeSwap Finance

Those that participate in our Private sale and Public sale will receive sYSL tokens.

And 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.

There are two key things to know about our unique tokenomics:

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

2️⃣ The YSL.IO protocol will 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 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 🚀

What can we expect from YSL.io in the near future, are there any new events, products/features or partnerships to come? And what are the planned for the future?

Hardev⚡️YSL.IO :
We’re always thinking ahead and have an endless appetite for growth!

We recently formed a partnership with ApeSwap Finance, which has been instrumental to our development, as we have been able to leverage the special vesting factory (locked liquidity smart contract) offered by ApeSwap Finance for our price discovery phase and for all future creation of locked liquidity.

And more recently, we were lucky enough to have been accepted into the highly coveted ApeSwap BUIDL program!

The announcement can be found in the most recent #BUIDL newsletter released by ApeSwap 👉 https://bit.ly/3xFnf6S

Here’s are some highlights of what we have in store for 2021:

❇️ Cross-chain integration(s) with Polygon and Ethereum
❇️ Frontend language translation (Simplified Chinese, Vietnamese)
❇️ Cross-chain swaps through Ethereum via Uniswap cross-chain bridge integration

QUESTIONS TWITTER

What is YSL.IO plan to increase Yield Farming, also provide insight and attract more non-crypto users to use your platform? And according to the article you have a reward system in staking called “Inflation Rewards”? What does it mean and how does it work?

Hardev⚡️YSL.IO :
To attract novice users to our platform 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. 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! 👍🏼

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

Yes that’s correct we are distributing an Inflation block reward — 80% allocation (50% to the YSL-BUSD vault & 30% to the sYSL vault), on each block. So our native token holders that are staking in these vaults will be able to benefit from this Block Reward.

To do this the protocol will first determine the inflation by using the current total supply of sYSL tokens.

The sYSL tokens that are minted will then be sent to a reward pool for distribution (distributed over 365 days).

A preview of our easy-to-use interface

https://t.me/InfinityChains/119319

https://t.me/InfinityChains/119321

Yield Farming has provided an avenue to help individuals increase their profits. Token inflation however, will start to happen in the near future so what do you think the impact of this will be to #YSL? Will this avenue for profit be degraded in the coming months/years?

Hardev⚡️YSL.IO :
We are here to stay and show that yield farming can be sustainable long term.

To achieve this we have designed a truly unique tokenomics model that revolves around our protocols novel capability of autonomously creating locked liquidity.

The result 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 will obtain an APY of 42.78% 🚀

This will not only guarantee our survival during a bear market, but will increase our market share + TVL 🤩

According to the news that YSL recently partnered with ApeSwap, what is the form of the collaboration? What benefits are planned for users with this partnership? And why choose ApeSwap for YSL partnership in ecosystem building?

Hardev⚡️YSL.IO :
Our partnership with ApeSwap Finance has been instrumental to our development.

With this we have been able to leverage a special vesting factory (locked liquidity smart contract) offered by ApeSwap Finance for our price discovery phase and for all future creation of locked liquidity

It’s also 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 YSL platform has a YSL / BUSD pool on Apeswap, where LP tokens received from that pool are sent to a locked liquidity contract for 1000 years. That sounds unbelievable.Why did you decide to set a 1000 year date, instead of just saying the tokens will be locked forever?

Hardev⚡️YSL.IO :
1000 years was an arbitrary number that was chosen purely to demonstrate that the liquidity is essentially locked forever.

This provides a sense of assurance, enhancing an investors’ trust in the project by showcasing that the liquidity is locked and cannot be removed by the team.

And the core benefit of our protocol continually creating locked liquidity relates to the sYSL token price being tied to YSL-BUSD liquidity.

In other words, any increase in locked liquidity will inadvertently result in the price appreciation of the sYSL token 🚀

YSL_io recently announced that they will be holding a private sale, how long is this private sale? And how many phrases in the planned sYSL sale? How much is the allocated sYSL for sale? What is the 10% Referral Bonus — Price Discovery Phase?

Hardev⚡️YSL.IO :
Our private and public sale (price discovery phase) is open to all, there’s no whitelist and everyone is welcome to participate!

The private sale is currently live and will run for 23 days, after this the public sale will begin (July 23rd) and run for 7 days.

The link to the private sale 👉 https://www.ysl.io/

Yes we have some exciting benefits during the Price Discovery Phase:

✅ 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!

During the private sale the bonus 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 🤯

QUESTIONS TELEGRAM

I have a question how do you plan to attract users, incentivize them in the early stages of deployment?

Hardev⚡️YSL.IO :
✅ 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;
●The BUSD-USDT farm on ApeSwap Finance currently yields an APR of 14.66%
●Traditional optimisation (harvesting + compounding daily) only results in an APY of 15.79%
●YSL.IO optimisation will obtain an APY of 42.78% 🚀

✅ 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

I noticed you have been doing ama recently on different groups, what is motivating you to do all this

Hardev⚡️YSL.IO :
Diversity is the most overlooked aspect of most projects. I’m a strong believer in diversity and its ability to propel a project forward though community driven innovations, initiatives and resources.

We are committed to creating a truly diverse community, and to achieve this we have arranged over 70 AMA’s with several local communities based all across the globe. This includes countries such as China, Vietnam, Indonesia, Malaysia, Singapore, Korea, India, Turkey, and Iran!

What make people believe in long-term of YSL ?

Hardev⚡️YSL.IO :

Mathematicians have STRESS TESTED our Tokenomics!

In each scenario the sYSL token PRICE INCREASES, even during a bear market!🚀

This is due to sYSL being tied to LOCKED LIQUIDITY!

Learn more here 👉 https://bit.ly/3x9stI6

Trust and security is very important in any business , what makes investors , customer and users safe secure when working with your project?

Hardev⚡️YSL.IO :
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.

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about YSL.io.

Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.

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