Recapitulation of YearnClassic Finance AMA event held at AMA LOVERS CLUB
Date: Wednesday, 4th November, 2020
Time: 15:00 UTC
The YearnClassic Finance team was represented by @JohnYearnClassic. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourselves and your backgrounds, also share details about the Team behind Yearnclassic Finance
Ans : Here John from YearnClassic and here with me are two other members. We have a robust team at YearnClassic with decades of experience in Finance and blockchain industry
Q2 : Can you introduce the Yearnclassic Finance project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage in this DeFi season
Ans : YearnClassic Finance is a blockchain agnostic decentralized finance (DeFi) aggregator platform that supports DeFi projects deployed on Ethereum blockchain, Tron chain, Binance smart chain etc., focusing on simplicity, user experience, privacy and global adoption.
So basically, YearnClassic Finance is bringing Blockchain Agnostic into the DeFi Ecosystem, and as an independent fork of yearn.finance with improvements, our primary focus is on security, simplicity, user experience, privacy and global adoption.
We are providing a classical way to optimally earn yield on assets. Its governance underline token is called YearnClassic (YFIC) token.
Our core products and features are; Staking, Lending, Yield farming, Vault, Governance, Zap, and full suite of Mobile Application for effective management of assets that helps to bring the best Defi protocols such as Compound, Uniswap, Synthetix, Fulcrum, dYdX, Aave, Nuo, Balancer, Curve, and many others to the masses.
By blockchain agnostic, different protocols and chains can communicate together effectively which would ultimately lead to global adoption, and this has huge long term benefits which YEarnClassic is bringing to Defi ecosystem.
Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap and exchange listing plans
First of all I would be sharing our roadmap. https://yficlassic.finance/roadmap.html
From the roadmap, we have completed Q1 - Q2 2020 promise. Moving to Q3 - Q 4 2020 We promise to launch Staking Product which we have done. In fact we have the best staking features in the market
At the moment we are still running our Pre-sale. We at Round 2 at the moment which will end in the next 7 days
Regarding smart contract audit, the process is ongoing and development regarding will be made available to our community at due time.
We promise to be listed on Uniswap and two more potential centralized exchanges in Q4
Other things like coinmarketcap, coinGecko, and token burn will happen in Q4 2020 immediately after pre-sale
60% of the raised funds will be locked in Uniswap liquidity, and 10% of the raised funds shall be used to buyback and burn YFIC tokens after presale. This action will prevent people from dumping.
2nd Segment: TWITTER QUESTIONS
Q1 : I understand that you will have only 40% of the 1,000,000 YFIC that YearnClassic has for the 3 pre-sales, but in the case of not exhausting that established amount, do you plan to make a 4th pre-sale? or would they start trading at IEO?
Ans : Based on the information we have on the presale page: https://yficlassic.finance/presale.html, We planned for only 3 pre-sale stages. After the 3rd stage or round, which will end on 28th of November, we are listing on different potential exchanges immediately. Our intention based on the roadmap is to get YearnClassic Finance (YFIC) listed on Uniswap and two potential centralized exchanges in Q4.
Q2 : Currently there are many DeFi projects that support cross-chain transaction features, Does Yearn Classic has any plan to implement this feature in the future? Which project would you choose collaborate with Yearn Classic to realize this feature?
Ans : According to our roadmap: https://yficlassic.finance/roadmap.html, there is a plan to implement cross-chain features in Q3 of 2021 which can be much earlier.
As a blockchain agnostic DEFI aggregator platform, YearnClassic Finance (YFIC) will be supporting DeFi projects deployed on Ethereum blockchain, Tron chain, Binance smart chain etc. by focusing on simplicity, user experience, privacy and global adoption. Some of the best Defi protocols YearnClassic Finance would be supporting are; Compound, Unisawp, Synthetix, Fulcrum, dYdX, Aave, Nuo, Balancer, Curve, and many others.
Q3 : If we make loan funds provided by YearnClassicFinance, what is the maximum loan we can make? What rate is offered and is there a limit when making the loan?
Ans : As can be seen on our roadmap https://yficlassic.finance/roadmap.html, Lending and Borrowing products launch will happen between Q4 2020 to Q2 2021. The product specifications and parameters will be provided after launch. Stay tuned and ensure to follow us on our telegram group, telegram channel, and twitter to get real-time updates about YearnClassic (YFIC) project updates.. https://t.me/yearnclassicfinanc
Q4 : Most new projects nowadays RUG Pull and cart away with investors' earning. Has your smart contracts been audited? And will YFIC have a full proof of Lock liquidity?
Ans : Based on our roadmap, https://yficlassic.finance/roadmap.html, our smart contract will be audited sometime in Q4 2020 and the process about that is ongoing. We shall announce the progress about that and our partner in due time. Stay tuned!
Regarding liquidity lock, 60% of the raised funds will be locked in Uniswap liquidity. Also, 10% of the raised funds shall be used to buyback and burn YFIC tokens after presale. This action will prevent people from dumping.
Q5 : Can you explain what is meant by blockchain agnostic decentralized finance aggregator platform? What makes it different from other trading platforms
Ans : By blockchain agnostic, different protocols and chains can communicate together effectively which would ultimately lead to global adoption, and this has huge long term benefits.
For example, when you use a particular network or distributed ledger, the developers are restricted to select only one specific protocol or technology as the foundation for building their products. This will consequently lead to a serious problem that users of other protocols cannot use their application. Also, the organizations cannot make use of the desirable functionalities from other protocols to produce a well rounded and efficient product. This makes the platform economically inefficient and fragmented. So, with blockchain agnostic, different protocols and chains can communicate effectively together. Basically, this is the long term benefit that YearnClassic is bringing to the market by being a blockchain agnostic.
3rd Segment: LIVE QUESTIONS
Q1 : What make yearn classic finance stand out from other Defi project and what YFIC Earn products?
Ans : We are very unique as a blockchain agnostic that is focusing majorly on global adoption of DEFI Ecosystem in general . Among our product offerings are Staking
Q2 : What is the concept behind running 3 different " pre-sales " on YFICLASSIC
How will you attract real investors this way ?
Only 60% of the raised funds during PRESALE will be locked, what will you do to the 40% ?
When is the locked liquidity pool be unlock ?
Ans : 10% of the raised funds shall be used too buyback and burn YFIC tokens after presale. This action will prevent people from dumping and the remaining 30% will be used for listing of decentralized exchanges, further development etc.
Q3 : Where I Can Buy tokens YearnclassicF??
Q4 : YEARN FINANCE and YFICLASSIC seems quite alot similar, is YFI Classic a fork of YEARN FINANCE,
What exactly is the primary focus of YEARN CLASSIC ?
Framing, NFTs, multiple blockchains interacting on a single Platfrom, does YFICLASSIC plan to launch any of these features soon ?
Ans : YearnClassic is a fork of YFI, with further feature and advantages such a blockchain agnostic. With blockchain agnostic, different protocols and chains can communicate together effectively which would ultimately lead to global adoption, and this has huge long term benefits. For example, when you use a particular network or distributed ledger, the developers are restricted to select only one specific protocol or technology as the foundation for building their products. This will consequently lead to a serious problem that users of other protocols cannot use their application. Also, the organizations cannot make use of the desirable functionalities from other protocols to produce a well rounded and efficient product. This makes the platform economically inefficient and fragmented. So, with blockchain agnostic, different protocols and chains can communicate effectively together. Basically, this is the long term benefit that YearnClassic is bringing to the market by being a blockchain agnostic.
Q5 : - How many pre-sales will there be for $YFIC? Will the purchase price vary with each presale? Is it better to buy now or wait for the launch of the exchanges? Are there any bonuses?
- In order to use Yearn Classic Finance, will I need something else besides my wallet? Will I need to go through a verification process? Or will it be an easy to use system?
Ans : There will only be 3 Round of Pre-sale. The price varies. You can find information about that on our Pre-sale page: https://yficlassic.finance/presale.html. It is better to buy now because (1) We are listing at higher price on exchanges (2) you can start staking immediately once you purchase to earn more tokens (3) You can win $10K YearnClassic Raffle Draw when you purchase minimal amount of 0.1 ETH Click Bot Link: @Yfic_bot (4) You can receive your Airdrop (2YFIC=$10) immediately once you Purchase (5) you can get instant bonus as well. All these are what you get when you buy to have lot of token before we eventually list on major exchanges. It is very easy to use YearnClassic staking platform, you don’t any verifications.
Q6 : What are the features that take YearnClassic Finance ahead of its competitors? Why should investors choose YearnClassic Finance and not another similar project?
Ans : Yes, many Defi have same features, but they lack what the future requires which is cross-chain and that is part of our value proposition. We are bringing Blockchain Agnostic which enables different protocols and chains can communicate together effectively which would ultimately lead to global adoption, and this has huge long term benefits
Q7 : 1. Round 2 presale ends in 7 days. What next after the Round 2 presale and is there any considerations for listing on any exchanges after the presale?
2. On what platforms can I participate in the Round 2 of YFIC presale?
Ans : We have plan for 3 Rounds of Pre-sale according to our Pre-sale page: https://yficlassic.finance/presale.html. IF we are able to meet our softcap in Round 2 or sell out, we will immediately be listed on Uniswap and two more potential centralized exchanges. Otherwise we will proceed with Round 3 which will end on 28th November, this Month. Listing on exchanges will follow immediately. To participate in Round 2 Pre-sale, just go to our Pre-sale page https://yficlassic.finance/presale.html, "Copy Address" and send your Eth to that address. Equivalent YFIC plus bonus, and Aridrop rewards will be sent back to the same address you contributed immediately.
Q8 : How do you evaluate the support from community ? What is your stragety to marketing and for Mass Adoption ? What message do you want to send to community through AMA today ?
Ans : The support from community has been a wesome. If you check our roadmap https://yficlassic.finance/roadmap.html we have itemized our we plan to execute product launched, make strategic partnership, expansion etc and eventually implement cross-chain and develop Full suite of Mobile App for mass adoption of Defi Ecosystem. The message we want to send through AMA is that you should keep following and supporting us.
Q9 : is there any chances regular user like me participate on the YearnClassic staking program and
What is the requirements to join YearnClassic staking program for the fırst time ?
How does YearnClassic team sees Defi potential for long-term run for the business
And what is the feature That YearnClassic will provide for the DeFi space in long run?
Ans : The staking has been made very easy to participate. The interface is very user friendly: https://yficlassic.finance/stake/. We have tutorial on our Medium to get on how to easily stake: https://yearnclassic.medium.com/yearnclassic-staking-product-launch-7e82936fb875. The product was designed such that first time user can use it easily. Please follow that tutorial. You can also contact admins on our telegram group for assistance at anytime https://t.me/yearnclassicfinanc . DEFI potential is very huge long term. We are bringing blockchain agnostic, security, privacy, user-friendly, simplicity, and global adoption to DEFI ecosystem long term.
Q10 : -What features does Binance Smart Chain have that make you choose BSC as the foundation for your YearnClassic development to support DeFi projects?
- When will YearnClassic Finance apps like Earn, Zap, Vaults, and Insure launch officially?
Ans : Research has shown that there is an urgent need for a chain that will enable different protocols and chains to communicate together effectively. That was the reason we have decided to support the DeFi ecosystem with a blockchain agnostic, where different protocols and chains can communicate effectively together. The release our App is in the road map here: https://yficlassic.finance/roadmap.html
Q11 : It is unfortunate that some projects remain half way because their developers abandon the concept because they cannot achieve the desired capitalization in the long term; how do you plan to make this project sustainable for its development?
Ans : We have robus team that have worked in the financial and blockchain industry for decades. The team is committed, and is doing everything possible with the cooperation of our partners and advisors to make this project a huge success. We hold the vision of making YearnClassic Finance a market-leading company in both Defi and crypto space.
Please before Going, do you have any Final Words for community and also do good to share every useful links to project as well as how to participate in presale
Ans : We would like to appreciate everyone for participating and your active questions as well. Keep following and supporting us. Thank you all.
YearnClassic Finance (YFIC) Community:
🔸Telegram Group : https://t.me/yearnclassicfinanc
🔸Telegram Channel : http://t.me/yearnclassicfinan
🔸Twitter : https://twitter.com/YearnclassicF 🔸Medium : https://yearnclassic.medium.com/
🔸Github : https://github.com/yearnclassicF
🔸Email : firstname.lastname@example.org
More About YearnClassic Finance (YFIC):
🔹Ongoing Presale: https://yficlassic.finance/presale.html hu
YearnClassic Finance (YFIC) On Media:
🔸Time Business News
🔸Net News Ledger
🔹Middle East Headlines
Thank you all and please follow us and participate in all benefits we are providing: Start Staking immediately once you purchase: Stake Now
🔸Get instant Airdrop (2 YFIC =$10) once you purchase
🔸Get instant Bonus once you purchase
Buy $40 worth of YearnClassic (YFIC) token to qualify for $10,000 Raffle Draw!
🔹CLICK Bot Link: @Yfic_bot to start.
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