Recapitulation of YFiONE AMA event held at AMA LOVERS CLUB
Date: Tuesday, 22nd December, 2020
Time: 17:00 UTC
The YFiONE team was represented by @maxLinxone. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also introduce the Team working on YFiONE project
Ans : My name is Max, project manager of YFiONE, your regular crypto guy charged to make sure YFiONE succeeds.
The team working on yfione.finance products are professionals and blockchain practitioners from different blockchain projects who came together to work on one ultimate Defi project that can rule them all.
Q2 : What is YFiONE ?
Ans : Yearn Finance + One"
YFIONE is a community driven DeFi-project, orchestrated in building several decentralized products with the aim of producing real Defi values to improve the YFIONE ecosystem.
YFIONE dedicates its efforts to systematically produce new Defi fledged products in One ecosystem to exponentially increase its value, growths and use case.
Imagine more than 1000 decentralized application linked to one Ecosystem powered by one Defi token (The YFO)
So YFiONE in that sense is bringing real value to yield farming. It's synonymous to venture capital by empowering the decentralized interest-free financial ecosystem, with the aim to distribute revenues as profit shares (rewards) to the stakeholders.
All YFIONE products are linked by YFO Token to achieve the goal of the true meaning of decentralized finance
This ecosystem will be extremely large and continually grow into a completely decentralized system, that is the true meaning of Defi which YFiONE is bringing.
"ALL IN ONE DEFI PLATFORMS IN WHICH YFIONE IS BUILDING”
Q3 : Can you introduce the YFiONE project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage
Ans : Apart from scam and exit scam in DEFI. some problems like lack of platform usage, products UI,Btransparency, governance and NO proper plannings are some problems that hinders Defi on reaching mainstream media. Defi hype is everywhere that team building product becomes less priority and this has been affecting the industry greatly.
YFiONE apart from its intuitive platform and products, though we are here to burst the Defi bubble and create our own paradigm shift, YFiONE competitive advantage will be acting as a hub/platform of several defi dApps which will cross different sectors and industries.
Q4 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : Our developmental process is rigorous.
We have been able to achieve even more than what we proposed on the website and on the Whitepaper.
Our schedule Roadmap was
- Planning and development of YFiONE.
- The first marketing campaign.
- YFiONE presale starts
- Launch of the first YFiONE DeFi platform
- Start Listing on 3 reputable exchanges Uniswap, Bounce, 1inch.
👉 And i can tell you that our marketing was more than successful, with over 14k community members on our Social platforms in late October till now we launched that marketing. In less than 2 months 🚀
👉 We sold our first round of Presale within 2 hours , second round within 5 days and 2 IDO.
👉 We've listed YFO in more than 9+ exchanges with more exchanges coming soon.
👉 Two of our products are currently under several testings and will be launched in mid December.
👉 Our smartcontract has been sent to audit to show the community how safe the codes are, audit will be share on Sunday.
There are so much development going on that we don't have all the time but vigorously focus to achieve our goals has been our motto.
2nd Segment: LIVE QUESTIONS
Q1 : What makes me to stake and farm $YFO in YFiOne?For investors to invest for a long period what attractions can YFiOne make to investors to do so?
Ans : Possible because YFiONE will offer seamless staking integrations and eye watering ROI and APY. Currently i can’t state the % return as we still trying to put so many things in place. YFiONE being a community driven DeFi-project, we might hold a poll for community to choose on what the return of investments might be to counter our initial plans, This is the first step to adoption as holders of the tokens decides the fate of the project.
Q2 : On your previous AMA you said that "We will run a public sale on "Korean exchange". But on which exchange? When? And can only Korean people join on this sale? If Yes will you run a public sale for global users too?
Ans : Yes i made that statement but sadly we couldn’t hold the IEO successfully due to some circumstances arising and lack of transparency from exchange and poor marketing from our Korea agency. But fortunately for us, we were able to sell off the token within 5 days after we announced an IDO on Bounce.finance instead of the IEO on Korea. That’s what happens when you have a supportive community like the YFiONE community.🙏.
Q3 : What makes YfiONE unique; especially when DeFi project is growing rapidly as of now? And how this unique proposition can become the dominating force for YfiONE Project in the DeFi "battle field" against its competitor?
Ans : YFiONE is unique in its own ways just like every other DeFi projects.
But why is YFiONE so different?
YFiONE proofs to be more distinct than other Defi Platform because of its broad visions which i will simplify.
YFiONE is a project that aims to build 'several Defi applications' from vague thoughts into completed Defi applications. And this can be simply forking other Defi products or building from scratch.
And YFIONE is basically cutting across different sectors and industries.🚀
This applications that we will be building won't just be 2 or 3 but several of Defi products...We are intent on developing ‘platforms’ to help Defi get recognized by mainstream users, media, noncoiners breaking out of the shells of other defi BUBBLES . So this approach already makes YFiONE an unconventional Defi project.
We have lot of goals, mostly written on our Whitepaper though our Whitepaper will be changing overtime as some goals and mission gets completed....
But the major ones are......
👉 To dominate all Defi projects and platforms through our numerous defi products and rich ecosystem.
👉 Break out of the Defi bubble and create our own paradigm.
👉 Change the Defi game
👉 Make Defi easier to use with our improved user interface for seamless operations.
Q4 : YFIONE Finance does a lot of token sales. From IEO on Chainx and IDO on bounce. Why do you make a lot of sales, I mean why not focus on just one platform to sell tokens? Suppose the focus is on the IDO or IEO.
Ans : We are building an ecosystem of DEFI dApps which isn't limited to just a platform or a product but a hub of several products cutting across different industries with simplicity in mind, Inorder to usher adoption of noncoiners unlike other project where there are complexity with their products. To achieve this technically with web 3 technology, it is assumed we need funds for both developments and marketing. So in order to continue to build the ecosystem we envisioned, there is need to sell and acquire funds to orchestrate this objectives and deliver to the community.
Thank you 🙂
Q5 : What advantages will the YFiONE token provide in accessing all YFiONE DeFi products, and what privileges will the owners of this token have in staking, farming, and governance?
Ans : Holding an international passport is like a gateway to see the world right?
The YFiONE ecosystem will be comprised of several valuable defi products, not just 3 or 10....but 100+ and this products being defi inclined will be valuable. An ecosystem of many products with just ONE token to rule them all.
$YFO is the gateway to access these products on the ecosystem🙂
$YFO is so cheap at the moment but when we start implementating and launching this products, the ecosystem will be so valuable than BTC it self that holding 0.0003 $YFO might be valuable
So with time, holding just little $YFO can be more than holding YFI 😉
We know what we are building 🚀🚀
(Though this is not an investment advice, please do your own research) 💯
Before leaving, could you please share all important links to YFiONE?
Ans : YFiONE will start official listing of $YFO from Dec 12th to Jan 3rd.
Kindly stay tuned and follow our community channel t.me/yfi_one and our announcement channel t.me/yfione
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