Recapitulation of YIN YANG PROTOCOL PROJECT AMA event held at AMA LOVERS CLUB.
Date: Sunday, 14th March, 2021
Time: 19:00 UTC
The YIN YANG PROTOCOL PROJECT team was represented by @WiDas who judiciously shared with us detailed knowledge and information about YIN YANG PROTOCOL PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on Yin Yang Protocol?
ANS: There's nothing much to introduce, I'm just a guy who recently discovered Defi during lockdown and noticed how many scams are around. Got rugged recently and thought to create something for community to enjoy without any ownership on the contract or insane amount of team tokens. I have payments operations background and aeronautics degree.
The core team has 2 people and much more paid staff around it like graphic designer mods and ofcourse Community which is the best. Whale is comming!
Q2: Can you introduce Yin Yang Protocol, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: Project is safe as there is no admin keys, Burned liquidity, no pre sale, we only launched yesterday with over 600 wallets.
We tried to make everything we can to make sure that token is owed by a community rather a group.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: I believe we already broke our expectations from the start of the project.
So we had basically through expectations to the bin cause everything was already set.
AHT went up to 60$+ and wallet count is increasing. Hopefully we'll reach 1000 holders soon.
Since we're really new project roadmap is still being built but we've already set goals to get a price bot to the channel get bscscan token approval for logo and website information and ofcourse coinmarket cap is the next thing.
Hopefully community itself will have some crazy ideas. While the supply is reducing.
Q4: Can you briefly describe your PARTNERSHIPS?
ANS: We have no partnerships so far, but we are open to having them, community will get to decide also. We've already applied for Pancake token farm. Aiming big - but we'll see how it goes!
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the Yin Yang ($YY) Token?
ANS: Our Tokenomics are simple.
We've minted 10'000 YY
Burned 5'000 YY
Locked 300 YY team tokens
But since it reached our expectations so quickly we've noticed that it's way too big for the team. So after each withdrawal we're burning half of the tokens.
Today we've took 30YY tokens and completed our first Burn while remaining 15YY will be given away through twitter.
$YY Token holders earn 2.5% so burn wallet is always increasing. And currently standing with 5180YY Supply.
2nd Segment: LIVE Questions
Q1: Why do moderators only say hi in your group?
ANS: Most of the moderators are from community. I like to trust in people and to not track their work that much but hope they'll do it.
Q2: I've gone through your website and I could see that your solutions are amazing. However, some people may still be skeptical about investing in Yin Yang protocol due to high level of scams and hacks that keeps happening lately. Can you tell us how you intend to convince such people so as to get them onboard?
Also, what mechanism have you put in place to help ensure its a win win situation for both the project owner and the community?
ANS: Alot of scams are in general are hapening in crypto at this moment. Meerkat managed to steal 31M$ over 24hour period via backdoor proxy.
We've build a token and removed all ties to the contract itself that all we hold is team tokens.
Due to RFI Protocol itself - Supply always goes lower so volume is the key to victory 😉
As mentioned Liquidity is owned by 0x0 address to it cant removed while other projects either don't burn it or lock it to be removed after.
Q3: Why don't you implement your pre-sale program like any other project, does this have any effect on the team's finances? In the next time, do you have any plans for launching the Staking YY program to increase how to earn rewards for users?
ANS: Pre-sale sounds lovely , but that gives an option for team to steal the money and that's how rugs make money asking for 1000BNB Presale.. We did fair launch for everyone to make sure that everyone has a chance for a moonshot.
Q4: Are there minimum and maximum amount of tokens that a holder needs to have to enjoy the benefits of rewards? What is the most exciting thing about Yinyang Protocol?
ANS: No minimum or maximum amount required. As long as you hold some and there is volume you earn 😉
Q5: We know BSC is famous for being very fast, simple, cheap in cost. But we know using the binance smartchain is a lot of rug-pull and high-risk projects. What do you say to the community, How do you get them to really believe in this project, is there a reason for this?
ANS: I believe this was answered few times already. No LP keys no ownership.
Q6: I see that your Dapp is linked to Pancakeswap, what holding yield do you expect to get? will other Dapp be added in a short time?
ANS: We're trying to get listing to pancakeswap itself. But building an APR farm creates supply while we want to burn it.
Q7: Generating passive income is so popular now with Defi but sometimes the formula of many projects is not good and they get lost in inflation, how does your project allow us to earn passive income in the long term without setbacks, is it sustainable?
ANS: Our token doesn't have a mint function. It decrease only. So from inflation stand point = none.
If I could leave community with 1 message always check everything out before buying anything. Meerkat stole 31M in 24hours which is insane. Those kind of people are destroying our community. Be safe and do your research before you buy. and revoke your contracts at unrekt.net.
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🥞Pancake Swap: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x7e5f08dbaabaaa5a83d882668b01bde582040896&inputCurrency=BNB
🔐Locked Liquidity: https://bscscan.com/tx/0xbb92f85db47740de21ed56e42f8f1185e5e4a93d8a5ebc1b9be061aa4d9856d8
🔐Team Tokens Locked: https://dxsale.app/app/pages/dxlockview?id=0&add=0x863c73D9e8B7F28bb46c9AA94E66d0AC9aF60c78&type=tokenlock&chain=BSC
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