Date: Sunday, 8th November, 2020
Time: 13:00 UTC
The YIELD team was represented by @martinriverain, @Mursuvalas, @timfrost5, and @jcpacion. They judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also the team should be imtrocuded
Ans : Sure thing, Being a growth hacker, digital nomad, and creative thinker, I handle digital marketing for YIELD. I’m data-driven, and have extensive experience in branding, PR & SEO. I’ve helped successfully scale up companies in the sphere and I was the head of marketing at Paxful. I Scaled up paxful from 50 000 users to more than 4.5 million and from a revenue perspective 100k$ weekly rev to 40+ million USD.
My name is Tim Frost and I am the CEO. YIELD.app is my 3rd digital bank. I was part of the founding team of Wirex (3.5 million clients) I helped EQIBank acquire a banking license and take them to market. I am specialized with early stage growth and development in fintech. I am a long time blockchain enthusiast and have worked closely with NEO, Qtum, Polymath and dozens of other top projects.
We have Justin Wright who is our COO and CFO and he was one of the founding members of beehive which is one of the biggest peer to peer lending platforms.
And rest of the crew has also a vast experience in Fintech
We have @jcpacion and @martinriverain who are our main Community Managers, who have a vast experience building communities from scratch! We are constantly looking for new community members so do not hesitate to message them with your offers!
I think thats the team here
Q2 : Can you introduce the Yield Project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage over other solutions
Ans : YIELD was designed to enable anyone to invest in DeFi using crypto or traditional currencies, regardless of their financial or technical level of expertise.
As a licensed and regulated FinTech company, we provide a secure digital banking platform where users can earn high returns through insured DeFi strategies that would be impossible for individual investors to replicate on their own.
We are eventually aiming to be a licensed NEOBANK that allows people to earn high yields with a press of a button.
We take the complication out of DeFi. We are built for those who want those high yielding opportunities and with YIELD you can enter DeFi for as little as $100.
Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : Sure thing, I think our first milestone was to get the banking license and that’s now done. Second one will be our public sale and MVP launch which is going to be in the of Nov
We hope to grow the community as much as possible, especially in South east asia. For us its super important to get as much feedback from the community and one of our core values is to listen to the community. We all come from crypto background and understand the importance of the community.
So hope to get a lot of followers and contributers so we can all grow together
YIELD.app is an evolution over the last few years. From my time with Wirex having built the foundation of a digital bank where that merges crypto and fiat and EQIBank by bringing modern banking services to offershore companies through a modern digital banking infrastructure. But to answer your question our biggest accomplishments so far is building out our PMS (portfolio management system) that we call a "Bloomberg-Esque" terminal to allow our DeFi team better tools and insight into DeFi to make better informed decisions. Also we have been fully approved for an offshore banking license.
2nd Segment: TWITTER QUESTIONS
Q1 : You have a function for deposit and withdraw to bank accounts and credit cards. How do you handle fee issuance? Is it fixed or changes based on the country?
Ans : Very good question, we are working with EQIBank with fiat of and on ramps. And as for now it depends on the country. We hope the more adaption we get the better prices we can offer for people. We are also in talks with more fiat onramps that can help us get into new markets.
Our first MVP will though have only USDT and USDC deposits. Fiat will come in Q1
When we implement fiat deposits and withdrawals the fees will be highly dependent on the country its sent to/from. This answer is not very detailed because its hightly dependent on factors.
Q2 : How can I get your credit card? What benefits and facilities does this offer the community?
Ans : Our Credit card will come in Q1, unfortanetly we do not want to disclose anything related to the Credit card, because we are still in talks with some partners. 👌🙏
I recommend to follow us and be an early community member to get some more info about it 😎
You can join now and wait for our card to become available. We anticipate by end of Q1 2021 we will be able to ship the first cards. The advantages over other crypto related cards is with YIELD.app we pay you to use our application. You earn money on your cryptoand can use it anytime you like.
Q3 : The initial rewards pool will end at 36 week for $YLD distribution. After distribution, how can a user continue to earn high yields on the app?
Ans : Excellent question and something we want to clarify. When you invest 1000 USDT on YIELD.app you earn an APY paid in USDT AND you earn $YLD as part of the daily distribution. So your earning both for the first 36 weeks. After 36 weeks the program completes and we will have updated the community afterwards on any future programs.
As Tim said. We will still have some incetivies programs after the 36 weeks will end. I though recommend to get in early to not miss out the first 36 weeks 😈
And despite not getting into the 36 first weeks, you will still earn a base of 10% APY + what ever we make on top of that we will share 50%.
NO bank offers an steady 10% APY BTW. You earn 0 interest by holding your money in a normal bank
3rd Segment: LIVE QUESTIONS
Q1 : What is YIELD ?where can I get $YLD? can I become an ambassador in the $YLD community?
Ans : Hey Kencell! YIELD is the everyman’s gateway to DEFI. $YLD will hopefully available when we launch very, very soon. We’re already giving more away in our Telegram group 😄 We’d love to take you up on that offer! Please send me a message after the AMA.
You can get $YLD many ways. Enter our presale (firstname.lastname@example.org which is not live) our main round also coming in a few weeks. You may also enter our early adopter program. When the platform goes live you can also earn $YLD daily.
Q2 : Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to $Your platform and keep them long term.
Ans : The EARLY ADOPTER PROGRAM was created to provide the best perks to our pioneer users! All you need to do is to stay tuned on our social media channels and to try out our product when we launch, and you get first dibs on what YIELD has to offer!
We actually hope to give these guys the best treatment as they make up our first batch of community members. We want to always keep them in the loop with what’s happening, maybe try out some products before they come out and be more of an extension to the YIELD FAMILY!
We also hope to get as many community drivers and people to help us drive the community forward!
Q3 : Could you please elaborate more about your tokenomics? What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?
Ans : Hey, our tokenomics can be found here!! https://yieldapp.medium.com/yield-launching-native-yld-token-5a48f2bb48ac
Let me know if you have followups 😉
Q4 : Most new DeFi projects are just copies of existing ones, they are just useless. So, what’s unique about your project & what makes $YIELD trustable as a long term project for users and investors?
Ans : We are a regulated a licensed bank managed by a team with a proven track record in FinTech, and we offer transparent governance through our $YLD token. Our goal is to go beyond DeFi and provide a more rewarding digital banking experience, where people around the world can easily earn interest on any currency and spend their earnings using our physical debit card, without ever having to think about crypto.
This is a long term project and not a short one, we aim to stay and help out with the crypto adaption
Q5 : 🔔🔔Which partnerships are on the roadmap of Yield? Having the support of projects consolidated in the field always helps with trust and therefore adoption
🔔What are the advantages of Yield as a Yield Farming platform among its competitors? What are your thoughts of farming as a booming trend in the cryptospace?
Ans : some of our main partners and helpers are :
We are in talks with many other, but always open for future partnerships !
Q6 : The covid-19 effected all around the world...... In this time how to improve you’re project in world wide?
Ans : One of YIELD’S biggest projects will be to set up a way to "give back" as soon as possible. The entire team sees efforts for social good as one of the biggest use cases for crypto, so you can expect some activities related to COVID-19 and other world issues within our first year here 👐
Q7 : What is YIELD making NFTs for? Can they be used to mine coins?
Ans : We do not make NFT’s sorry. Not doing NFTs although we are big fans of NFT and will explore things, for the future.
Q8 : Can you please explain how safe, reliable and trustworthy is market monitoring bot in Yield app? By using this bot, can we get more profit and more earnings with in your platform?
Ans In our 4 months of testing we have been able to outperform the market without any losses. This is a sample size, but we aim to be able to offer a minimum of 10% APY but target a minimum of 20%. We have social, smart contract auditing, and more that we analyze all investments with.
Q9 : TRUST in Cryptocurrency is very important. So how do you convince investors to believe that Yieldapp is not a scam (long-term projects) and convince investors to make long-term investments?
Ans : All assets are protected by the YIELD Insurance Fund (you can learn more about in our token article 😉), and our DeFi strategies are curated by an expert team of market analysts and fund managers with years of experience in FinTech. By aggregating the capital of many individual investors, we are able to neutralize risk and offer unprecedented investment opportunities in a secure environment.
I recommend to read our tokenomics
Q10 : Where can I buy Yield
Ans : We are currently running a pre-sale (more than 70% sold out) and will have our first and only public token sale at the end of the month. If you need more info, reach out to any of us and make sure you’re in @yieldapp 💪
Q11 : I already signed up in Yield application using Web version but I find it more easy accessing apps in my mobile device, so do you have plans to develop a full digital banking platform for Android and iOS mobile applications. When do you plan to launch this?
Can you also tell us more about the Early Adopter Program on yield_app? What are the terms and conditions when signing up?
Ans : We are now internally testing. We believe we can launch publicly alpha by end of November and you can use the platform then. We will update you when we are ready. The first version will be a browser based web application.
Q12 : Yield has an easy-to-understand tutorial to educate new users and encourage their adoption?
Ans : Hey Suga, not yet but we will definitely release more educational content way sooner than you think! Please keep an eye out on our blog (yield.app/blog) and all our social media channels! @yieldapp
Q13 : Where can I see the banking license?
Ans : We will update it in our dataroom this week. You can DM me for access for the dataroom and presale information.
But before leaving, do you have any final words for the community, perhaps important links we should be aware of?
Ans : Excellent AMA. Thanks AMA LOVERS CLUB!
You guys had very good questions and We hope to see you guys in our community!
Follow YIELD on their platforms:
... Website: https://www.yield.app/
... Telegram: https://t.me/yieldapp
... Discord: https://discord.gg/KzhtaFE
... Reddit: https://www.reddit.com/r/Yield_App
FOLLOW AMA LOVERS CLUB ON:
Telegram Group: https://t.me/amaloversclub
Telegram Channel: https://t.me/amaloversclub_channel