Recapitulation of YARLOO PROJECT AMA event held at AMA LOVERS CLUB.
Date: Monday, 23rd August, 2021
Time: 14:00 UTC
The YARLOO PROJECT team was represented by @Hamsparrow who judiciously shared with us detailed knowledge and information about YARLOO PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on YARLOO?
ANS: Aye! I'm Ham Sparrow, captain of Yarloo's crew and ship - I've built another project in the crypto seas that successfully reached a really high hardcap and is still working well up until our day, hence why we can't reveal our identities just yet. The crew consists of a team from all over the world, and they're artists, marketing geniuses, and devs. There are in total around 10 members in our team at the moment and once our funding is concluded, we'll hire even more until we hit 15 or even 20 depending on our requirements in te treacherous seas!
Q2: Can you introduce YARLOO, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Yarloo is a proposed answer to the major market dilemma that we call the "bear" market - since the crypto space was founded 10 years ago, or rather, once it was picked up on in general in 2017, we realized that every single time we reach all time highs, there's always bound to be a time when whales will destroy everyone's hopes and dreams with major sell-offs of their tokens, and with BTC being the most dominant token in the world right now, once that drops, everyone would panic and sell their tokens as well, causing a domino effect that kickstarts the bear market which usually lasts at least 1 year and typically 3 years.
The way Yarloo is built is that it's a lottery-based project with multiple sources of income to have one of the most powerful business models in a crypto project, because having a powerful revenue is essential for our next step of battling the bear market, which is a system we founded and perfected called the Revenue Sharing Token ecosystem, or RST in short.
RST essentially means that just for holding the token, without doing anything at all, you're getting a proportional share of our revenue, and the amount would depend on how much $YARL you're holding, but that's not all.
We're also allocating the RST to 5 aspects:
3- LP Rewards
5- Wheel of Fortune Reward Pool
And the amount we're allocating to our RST ecosystem is 30% of our whole revenue, meaning that if we were to earn $1,000,000 for example, we'd be sharing $300,000 with our community through RST.
This is our competitive advantage: a major part of our income is being given to the community strategically in a way that ensures our market value does NOT drop - and the fact that crypto lottery right now is quite boring to say the least - ours will be gamified and quite interactive, since we'll utilize NFT cards for getting your lottery tickets, etc.
Q3: Is there is any transaction fee?
ANS: We have multiple sources of revenue, and we hope to have way more within the next 3 years to ensure our momentum doesn't fade away.
That's so old school in our books, no, there won't be any transaction fees apart from the ones by the exchanges our investors use and that's it - but we won't add an additional fee.
Q4: Can you mention one or two?
ANS: Our sources of income will consist of the following:
1- Lottery Pools (we retain 5% of the pool's reward after the winner is selected) - so if someone was to earn $100,000, we'd take $5K in fees.
2- User Pools (we retain 3% of a user's custom created pool and they retain 2% of the rewards)
3- Wheel of Fortune spinning fees (we have a "spin the wheel" type of game, and that's yet another source of income)
4- RST Integration for other companies (we retain a fee for implementing RST for other companies if they need it, but we're also willing to give it for free to certain startups that don't have the funds if they really need it)
5- NFT Card Sales
6- Limited Edition Auctions
7- Customizable NFT ships (in the thousands)
8- Arcade games (we'll be building at least 1 game by the end of the year if everything goes according to plan, but if not, it'll be early next year)
There are way too many sources of revenue available for our project, which is why we're quite confident in our ability to make our RST ecosystem incredibly powerful.
Our ambition is to reach at least 5% of 10% of what Axie Infinity is making - because if so, our community stands to make literally millions of dollars every month.
Quite the win-win!
Q5: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Aye, me matey!
Our biggest milestones so far are that we have closed a number of marketing partnerships that will accelerate the entire process, we've raised good amounts of funds so far, and that we have our proof of concepts ready, both 3 card packs (30 cards in total) with 2 more in progress and our lottery pool's proof of concept.
The roadmap would be best read from our Lightpaper directly, so here it is:
Q6: So aside the Marketing partnership deals, do you have other strategic partnerships?
ANS: We have 1 so far, but by the end of our seed phase, I wouldn't be surprised if we reach 8 partners or more, because we've already reached out to multiple big names in the space and we're more than excited to announce what's happening next week when these partnerships are made official.
The beauty of Yarloo is that it can provide a lot of services and help to other communities and projects, so you can think of us as a project similar to Ferrum Network, a project that will have probably most of the crypto space partnered with it. :)
Q7: Can you give an overview of your Tokenomics, and the UTILITY of the $YARL Tokens?
ANS: Aye! - Total Supply: 25,000,000 $YARL
1- Sale: 30%
2- Liquidity: 20%
3- Marketing: 10%
4- Partners: 5%
5- Rewards: 5%
6- WOF Pool: 10%
7- Staking: 10%
8- Team: 10%
$YARL is going to initially be the only way you can make lottery deposits, it will have staking options, potentially farming options (take it with a grain of salt because we're still exploring that option), it's the only currency you can use to spin our Wheel of Fortune, and you must hold it if you want to be eligible for our RST.
There are many, many utilities for $YARL - we constructed it in a manner that ensures it would never crash so long as our company is generating revenue.
RST is just that good!
2nd Segment: LIVE Questions
Q1: You said the way Yarloo is built is that it's a lottery-based project with multiple sources of income to have one of the most powerful business models in a crypto project. How are the lottery winners selected, is it randomly or there's a selection criteria? Also, does the amount of $YARL token a user hold determines the chances of winning? In most lottery based project, the higher the token hodl/staked the more odds of winning, is your lottery model similar to that?
ANS: A winner is selected randomly based on their tickets - so the best way to make sure you win is to have as many tickets as you can get by utilizing 5 of your cards and pairing them together properly, and then our RNG system would pick a name randomly, usually the person with the largest amount of tickets would have a decent chance of winning, but they most certainly can lose as well.
The amount of $YARL you have will in no way affect your chances of winning as that's unfair.
No, our model has nothing to do with staking/holding the token - it's purely based on your NFT cards and using them smartly.
Q2: From your Medium article, you pointed out that RST might only be applicable for projects that can be able to create a revenue model around their project to generate enough funds, say $1,000,000 annually, for RST to work. With that in mind, how confident are you in the ability of Yarloo to continually uphold the RST feature by virtue of huge revenue generation? In addition, do you think RST scope is sustainable in the long run?
ANS: By consistently introducing more financial aspects to our project and adding as many games/lotteries/profitable ventures for our community as possible to give them enough incentive to keep using the platforms and for our revenue to stay the same. We believe that RST will have a really healthy sustainable lifetime if we maintain at least $1 million annually - which we're quite certain we can surpass consistently.
Q3: Every Gambler knows that Lottery is solely -based on luck and a 1 in a million chance to win. I read in your previous AMA session that Yarloo has a way of decreasing luck's dominance in gambling and adding elements of strategy to ensure victory. Isn't this just a bold statement for marketing to purpose. I have been a gambler all my life and I have never seen how the effect of luck on gambling can be downplayed. Explain how your platform can increase gamblers chance of success ? As a gaming house, isn't it be that you would make more money when gamblers lose ?
ANS: There's a strategic element of pairing your NFT cards together, up to 5 cards in total per pool, where you can get maybe 50 more tickets than everyone else if you utilize them properly and if you know the rules/special attributes well enough - this is the core element that would downplay luck, so nope, not just a marketing statement, it's true. Luck will always play a factor, that's for certain, but our lotteries will not be 100% reliant on luck - members who are smart with their cards will find themselves more fortunate than others.
Q4: can you outline the strategies you have put in place to regularly increase your token value and there by attract investment from around the world.?
ANS: You should read our RST section in our Lightpaper! It has all of this information detailed quite well there.
Q5: I am quite interested in the Revenue Token Sharing (RST) system proposed by Yarloo. Can Yarloo offer any form Consultancy service to aid the integration of RST in fellow Crypto Project. I love the RST and I do not know much of it to replicate it in our own cryto project so your assistance would be very much appreciated. How much does this cost. Who can I discuss with on your Team for this RST service ?
ANS: We most certainly would love to aid other projects implement RST in their ecosystem because we don't want to be the only project that can fight a bear market - we want EVERY project to have that kind of power, so yes, consultancies are available, in addition to direct integrations from our side (but that will be available in the future) - as for costs, it really depends on the project's size since we don't want to cause financial turmoil for other projects, haha - but you can feel free to contact me for further information surrounding that.
Q6: Concerning your marketplace which is the NFTShore, what kind of NFTs can users trade there? What kind of NFTs will Yarloo concentrate on and are these NFTs currently for trading?
ANS: At first, it will be our NFT cards, and later down the line will be our customizable NFT ships!
Q7: How soon can users start enjoying the games and lotteries on the YARLOO platform especially the Wheel of Fortune? How can users earn/profit from these games? What other tokens can I use to play your games apart from the $YARL token? And is there any minimum or maximum amount users will you to enter games or lotteries on your platform?
ANS: Wheel of Fortune will be available in less than 3 months - and the lottery pools are planned to go on Testnet in 2 months after our funding is over, but we’re going to do our best to launch the soonest we could.
There will indeed be a minimum deposit of $YARL that you must use to participate in a lottery, but usually no maximum amount - and you can also benefit financially from the Wheel of Fortune because it can reward you in our NFTs or in $YARL tokens / no, $YARL is the only token available for now, but we'll allow our partner companies to use their tokens for custom pools or featured pools that we'd make for them as well.
Q8: Looking at it logical in every crypto project there will surely some investor with deep pockets who are ready to invest for the benefit of the project, and am also sure those investors will also want some huge returns. Question is how will RST control the whales? Also how do you generate revenue in which all this efficient rewards are sent?
ANS: RST will make sure whales don't feel like selling off because they'd be more content receiving profits just for holding, but we have extended vesting periods for whales who invest major sums of money to ensure no market dump would happen that will negatively affect our investors.
Q9: My question is how will Yarloo support new artists and users (who have no knowledge of the NFT market) to join the Yarloo NFT space to make a profit?
ANS: We currently don't have a specific plan for this just yet, but it's come up on our mind before - we'll navigate through this as soon as our funding phase is over!
Q10: 📌📌📍📍I still cant seem to understand, can you provide more information about this RST?
Is it better than the regular NFTs?
With whom do I speak if I intend buying and are there advantages of holding it for long time?
Is it tradable on other platforms?
ANS: RST is not an NFT replacement, it's like a neighbor of both NFT and DeFi technologies, it's a new technology and concept of its own. RST purely means the utilization and optimization of your project's economic ecosystem in a manner that benefits your community enough to the point where your token doesn't crash.
Q11: The bear market has cost me a lot of loss and whale activities in a lot of my investment REKT me. I am quite impressed with be all you have said about RST. However you said " Bear are not to be feared"... Can the RST model effectively curb whale activities that have resulted in loss for multitudes of people ? If so, how does RST work against bears ?
ANS: RST is anti-bear because it allows for large trade volumes, so even if a whale didn't care about the profits they'd be making, the trade volume (due to how robust our system is) would remain unaffected by major sell offs which would keep it at a healthy value rate.
Q12: The Revenue Sharing Token System (RST) is indeed an innovative concept in dealing with the problem of bear market corrections, however, just as you've rightly pointed out on your Medium platform, Projects are required to generate quite a huge amount of revenue for RST system to work, $1 million isn't a small figure, this is a major detriment to the RST system, I understand you're a new project, so do you plan to improve on this detriment as time goes by or you're satisfied with this flaw? Can you tell us more about how the Yarloo Lottery system works?
ANS: We're going to investigate all the possible ways to tackle down the bear market without large revenue being conditional, but for now, that's the only way available right now - RST is still a fundamentally new concept that will be improved upon in the next few years, so you can definitely expect a ton of improvements to it!
The emission plan of burning $20 million of our tokens gradually with our buybacks.
Q13: ⭐️ ⭐️ ⭐️ Regarding the conditions that a project needs for RST to be useful to you, when does a project need to create a new revenue model to generate sufficient funds, do you as a team provide the necessary tools for them to achieve this?
ANS: We're happy to provide consultation services for projects who wish to implement RST and help them if they're experienced enough!
Proof of Concept for our lottery.
Q14: Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
ANS: Nope, not yet - our token will be open-zeppelin standard, meaning it's pre-audited, but what we intend to audit is our RST smart contract to ensure there are no security loopholes.
Follow Us On Our Various Social Media Communities For More Update;
A look at our NFT cards (20 of them)
FOLLOW AMA LOVERS CLUB ON:
Telegram Group: https://t.me/amaloversclub
Telegram Channel: https://t.me/amaloversclub_channel