Recapitulation of YSL PROJECT AMA event held at AMA LOVERS CLUB.

Venue: https://t.me/amaloversclub
Date: Sunday, 20th June, 2021
Time: 12:00 UTC

The YSL PROJECT team was represented by @Hardev_ysl who judiciously shared with us detailed knowledge and information about YSL PROJECT.

1st Segment: INTRODUCTION

Q1: Can you please introduce yourself and your background, also introduce the team working on YSL?

ANS: Greetings Everyone 👋
It’s nice to e-meet you all today!

I am Hardev Dhillon, the Co-Founder of https://YSL.IO

I’ll begin with a brief background on myself; I'm a Certified Practising Accountant (CPA) with a professional background in Finance, Accounting and Business, specialising in Financial Risk Management and Advanced Taxation. I have broad experience across banking and accounting (HSBC/Westpac/KPMG/Deloitte), which has enabled me to appreciate the importance of driving error-free standards for compliance, develop strategic plans for transformation, and create risk frameworks for a range of sectors/functions.

Simran Dhillon (@simran_ysl), is the other Co-Founder of YSL.IO. Just to give everyone a quick background on him; Simran has diverse professional background across IT & Business, and has notable industry experience with companies such as Microsoft and HSBC. More importantly, he is a crypto veteran 💪 that has gained significant experience within the crypto space, both as a programmer and working in the background as an advisor for a number of Blockchain projects such as Zencash (now known as Horizen).

In addition to @simran_ysl and myself, we have a team of seven blockchain developers + one UI/UX designers that are focused on the development of our smart contracts and platform. Each of them are experts within their respective fields and are all busy working their magic behind the scenes ✨ to ensure we can deliver the best possible version of YSL.IO for our 11k+ community. We also have a marketing team that are hard at work in the background, drumming up material that will help spread awareness of our unique concept.

Q2: Can you introduce YSL, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?

ANS: Sure!

So our project name is derived from the key features of our unique protocol; high YEILDS, rewards for STAKING and locked LIQUIDITY.

And our goal is to make http://YSL.IO the best place for DeFi users to maximise returns on their crypto assets!

Our competitive advantage relates to our completely novel approach to yield farming, that centres around our protocols ability to autonomously create locked liquidity whenever a user interacts with our platform.

Platform user’s will be able to benefit from this continual creation of locked liquidity when they use our unique optimisation function.

Unlike traditional optimisers that harvest and compound interest daily, ours has been designed to maximise returns through the creation of YSL-BUSD locked liquidity and will optimise the APR (%) of positions held by users on AMMs (such as ApeSwap or PancakeSwap) by 300%!

For example - It will maximise the APR of CAKE-BNB position on PancakeSwap from 58.29% to 173.67%! 🚀

That's not all! As our protocol is capable of improving these optimised returns by a further +100 APR%,through activation of our Amplification function!

More details on our revolutionary Optimisation & Amplification functions can be found in our Gitbook (👉http://docs.ysl.io)

Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?

ANS: We're extremely proud of what we have accomplished so far, although these efforts are mostly behind the scenes its an aspect that has really propelled us to develop the best possible version of YSL.IO!

Here are some of our recent milestones:

✅ Smart contract development
✅ Gitbook Release (23k words)
✅ Partnership with Peanut (NUX)
✅ Frontend development (UI/UX)
✅ Scheduled 20 pre-Launch WeChat AMAs
✅ Scheduled 50+ pre-Launch Telegram AMAs

And here's what we have in store for 2021:

❇️ YSL.IO platform launch
❇️70+ AMAs (Telegram +WeChat)
❇️ Initiate audit of smart contracts
❇️ 30-day price / supply discovery phase
❇️ Establishment of the YSL/BUSD liquidity pool
❇️ YSL token listing (CoinMarketCap, CoinGecko)
❇️ Cross-chain integration(s) with Polygon and Ethereum
❇️ A preliminary version of the community-governance function
❇️ Gitbook language translation (Simplified Chinese, Vietnamese)
❇️ Frontend language translation (Simplified Chinese, Vietnamese)
❇️ Cross-chain swaps through Ethereum via Uniswap cross-chain bridge integration

Q4: How prepared is the team today launch the YSL platform ?

ANS: When developing http://YSL.IO we were focussed on quality but with a fast-paced approach.

We are fortunate enough to have a team that enthusiastically embraces challenges and are passionate about creating the best possible version of YSL.IO, and that has really helped us overcome any obstacles 🦾

A lot of projects nowadays promise magic with just a whitepaper, but we believe in putting the horse in front of the cart and not the other way around, YSL.IO will be a full product launch!

Our platform will be a fully operational with live vaults and will launch regardless of what is raised during our private & public sale.

The platform and smart contracts are being developed as we speak, and here's a sneak peek:

https://t.me/amaloversclub/235638

https://t.me/amaloversclub/235639

https://t.me/amaloversclub/235640

https://t.me/amaloversclub/235642

Q5: Can you briefly describe your PARTNERSHIPS so far?

ANS: Sure thing!

We formed our first-ever strategic partnership with peanut.trade, whereby NUX-BNB liquidity providers will be able to benefit from our protocols novel optimisation function that autonomously creates YSL-BUSD locked liquidity.

‌To learn more about our partnership with Peanut and our upcoming airdrop to the NUX community, check out our recent Medium article 👉 https://t.co/JIX1B4gKG5?amp=1

More recently, we were lucky enough to have been accepted into the highly coveted ApeSwap BUIDL program!

This is huge for YSL.IO in terms of increasing the awareness of our project, as they have a growing user base of over 400,000!

Not only that, it will enable us to connect and form meaningful partnership's with other projects within the ApeSwap ecosystem!

The announcement can be found in their most recent #BUIDL newsletter 👉https://ape-swap.medium.com/buidl-newsletter-003-56f12fc0237c

Q6: Can you give an overview of your Tokenomics, and the UTILITY of the YSL Tokens?

ANS: There are 3 key components to our token economy:

⚡️ YSL token - Utility
💎 sYSL token - Governance
🌊 YSL-BUSD liquidity pool - Held on ApeSwap Finance

The key thing to know about our novel tokenomics is that the sYSL token is tied to the amount of YSL-BUSD locked liquidity, and that we have designed the YSL.IO protocol to create YSL-BUSD locked liquidity whenever a user interacts with the platform.

In other words; as users begin to use YSL.IO, the TVL of the platform increases, the more YSL-BUSD locked liquidity is created, and the greater the price of the sYSL token!🚀

YSL.IO TVL ⏫ = YSL-BUSD locked liquidity ⏫ = sYSL token price ⏫

✅ sYSL use case:

Governance - sYSL tokens will operate as the governance token for the YSL.IO platform, token holders will be able to vote on various proposals once the community-governance function is integrated.
Staking - sYSL token holders will be able to stake their tokens in our sYSL vault.

✅YSL use case:

YSL-BUSD locked liquidity - The YSL token is used to create YSL-BUSD locked liquidity, this is done autonomously by the protocol
Staking - Liquidity providers of the YSL-BUSD pool (on ApeSwap Finance) will be able to stake their LP tokens into our YSL-BUSD vault.

You can find all the details on our tokenomics model here 👉https://docs.ysl.io/ysl-io/ysl-core-protocol/tokenomics

2nd Segment: LIVE Questions

Q1: I would like to know if you've completed any security audits? Perhaps by third-parties? Are you working to AUDIT YOUR PROJECT to make it more secure and reliable?We've seen dozens of hacks, exploits and stuff like that this year, What measures have been taken to protect YSL community from it?
https://twitter.com/i_zeroman/status/1406565406932754433?s=20

ANS: You can rest assured that security is the absolute top priority at https://YSL.IO! 🔒

Here's are some examples of features that we’ve incorporated into the protocol to ensure MAXIMUM SECURITY:

1️⃣ Price Feeds by Chainlink: the protocol can better resist flash loan attacks, network congestion, and centralised infrastructure disruption.

2️⃣ Smart Contract Timelocks: these will be integrated across all of our smart contracts to protect our users and funds, as a delay/period of time is required before any changes can be made to any smart contracts.

3️⃣ Real-Time Monitoring of the Main Oracle Price: When there is a serious deviation between the main oracle and the system, the system will alert and notify our development team to ensure timely action.

4️⃣ Prevention of External Smart Contract Interaction: With the recent flash loan attacks on BSC, we will incorporate a stop on all external smart contracts to interact with the our contract, mitigating the risk of any flash loan attack within our protocol.

More importantly, we will be engaging with well-known and reputable parties such as Certik and Zokyo to conduct an audit on our smart contracts:

✅MULTIPLE EXTERNAL AUDITS - Before we launch, our protocols architecture and logic will be audited by external parties, so you can have piece of mind that your funds are SAFU!

✅ONGOING AUDITS - We intend to conduct ongoing audits on a regular basis, to ensure the long-term maintenance of our protocols security.

Q2: I want to know about Pre-Sale .
When and where it'll Start?
I want to join whitelist or presale, how to join whitelist or presale and what does kyc need to join whitelist or presale
https://twitter.com/trixie_sn/status/1406564310021599233?s=20

ANS: Our private and public sales are open to all

There's no whitelist or KYC, everyone is welcome to participate in our 30-day Price Discovery Phase!

The private sale will begin on July 1st, and the public sale will begin on July 23rd.

And we have some exciting benefits during the Price Discovery Phase!

✅ Bonus multiplier- Our bonus multiplier will effectively add a bonus on top of any deposits that you make!

During the private sale the multiplier is set to 3.00x ! So if you were to deposit 5k during the private sale, you will essentially receive 15k worth of sYSL tokens, that's $10k of bonus value 🤯

✅ 10% Referral bonus program - We are also running a referral bonus program during the price discovery phase, where you can earn 10% on the contribution made by those you refer. So if you were to refer someone that had a $60k contribution you would get back $6k worth of sYSL tokens at the end of the discovery phase.

👉 The sYSL token will only be available for purchase one-month after the platform launches. And remember that sYSL is tied to YSL-BUSD liquidity, so once the platform launches and the TVL on YSL.IO increases, YSL-BUSD liquidity will increase, this will cause the price of the sYSL token to increase. SO DONT MISS OUT ON THE PUBLIC + PRIVATE SALE!

https://t.me/amaloversclub/235732

Q3: Big problem for a lot of DeFi projects seems to be that when farming starts, the price go down because people unload to put liquidity into the farm. Will there be an incentive to hold and not just farm and dump?and Are you prepared for this bear market?
How will you handle the panic of your Investors?
https://twitter.com/salammd017/status/1406562318079516672?s=20

ANS: I strongly believe that the key to real success as a token is to have the fundamentals down in terms of long-term stability and value for native token holders - something I’d say isn’t present in many of today’s projects.

We are here to stay and show that yield farming can be sustainable long term. So from the outset we decided the best way to make this happen was to ensure that our token economy would be resilient, even in a bear market.

We have achieved this by designing a truly unique Tokenomics model that revolves around our protocols novel capability of autonomously creating YSL-BUSD locked liquidity.

The benefit of this novel design is that even during a bear market, our optimisation function will be even more attractive due to its ability to provide high yields.

As during a bear market, farmers would likely switch their positions to stable coins which typically have low APR (%), and platforms that are able to offer greater returns on stable coin positions will increase in demand.

For example; the BUSD-USDT farm on ApeSwap Finance currently yields an APR of 14.66%. Traditional optimisation (harvesting + compounding daily) would only result in an APY of 15.79%. Whereas YSL.IO optimisation is capable of obtaining an APY of 42.78% 🚀

This will not only guarantee our survival during a bear market, but will increase our market share + TVL 🤩

And as the TVL of the platform increases with more users, the more YSL-BUSD locked liquidity is created, the greater the price of the sYSL token! 🚀

⏫ https://YSL.IO TVL = ⏫ YSL-BUSD liquidity = ⏫ sYSL token price

Q4: What do you guys aim to achieve by the creation of the YSL-BUSD locked liquidity? And what unique approach does https://YSL.IO have to yield optimisation?
https://twitter.com/Abiodunbbey/status/1406400495963475969?s=19

ANS: Liquidity is an integral part of any DeFi ecosystem, and that's why we've made YSL-BUSD liquidity the heart and soul of YSL.IO 💖. Our protocol has been designed to ensure there is a CONTINUAL creation liquidity!

More importantly, all the liquidity that is generated by our protocol will be LOCKED in the locked liquidity contract (ApeSwap Finance vesting factory) for a period of 1000 years!
‌
And what makes our project truly novel, is that the price of our native governance token (sYSL) is tied to YSL-BUSD locked liquidity!

In other words; as the TVL of the platform increases with more users, the more YSL-BUSD locked liquidity is created, the greater the price of the sYSL token!🚀

Not only that, the increase in locked liquidity will also create a progressive price floor for the token and mitigate its exposure to price volatility!

Https://YSL.IO TVL ⏫ = YSL-BUSD locked liquidity ⏫ = sYSL token price ⏫

This integration of locked liquidity within a token economy is unlike any other BSC project, and will provide long-term stability and value to sYSL token holders!

Q5: *ZERO SWAP FEES
*ZERO DEPOSIT FEES
*ZERO WITHDRAWAL FEES
*ZERO PERFORMANCE FEES".

This sounds to good to be true, are you guys running a charity organization? how do you intend to profit from this great services you are offering or are there ways in which fees are being charged indirectly on the platform?
Another thing that excite me about you guys is when I saw that there won't be whitelist and everyone is welcome to participate in your 30-day Price Discovery Phase. Could you tell us some of the exciting benefits we stand to gain during this Price Discovery Phase? What are the incentives involved?
https://twitter.com/BisolaHafsat/status/1406589422494261259?s=19

ANS: Our protocols revenue is sourced from four aspects:

1️⃣ Optimisation - An equivalent of 2% collected from the APR (%) of the token being optimised
2️⃣ sYSL exit fee -An equivalent of 2% collected when sYSL is sold
3️⃣ sYSL entrance fee - An equivalent of 2% collected when sYSL is purchased
4️⃣ Inflation block reward - 20% allocation, distributed on each block

The revenue collected will go towards ongoing operational expenses, including maintenance/development of the protocol, remuneration for engineers/developers, and to cover expenditures for ongoing audits and marketing.

The mechanism behind how and when these are collected can be found in our Gitbook (👉https://docs.ysl.io/ysl-io/ )

Its important to note that those that stake in the sYSL vault & YSL-BUSD vault will also benefit from these same four aspects:

1️⃣ Optimisation - An equivalent of 8% collected from the APR (%) of the token being optimised - Contributed to the MONTHLY BUY-BACK
2️⃣ sYSL exit fee -An equivalent of 8% collected when sYSL is sold - - Contributed to the MONTHLY BUY-BACK
3️⃣ sYSL entrance fee - An equivalent of 8% collected when sYSL is purchased - Contributed to the MONTHLY BUY-BACK
4️⃣ Inflation block reward - 80% allocation (50% to the YSL-BUSD vault & 30% to the sYSL vault), distributed on each block

The exciting incentives during the Price Discovery Phase:

✅ AIRDROP

We are going to airdrop sYSL tokens to the Peanut (NUX) community. You need to hold a min balance of 100 NUX before 1st JULY (ERC20).
Our recent Medium article provides information about how you can be apart of the airdrop and more details on our partnership with Peanut
Read it here 👉 https://t.co/JIX1B4gKG5?amp=1

✅ REFERRAL BONUS PROGRAM

We are running a 10% Referral bonus program during the sale period 🤩 So if you refer someone that contributes to the sale, you will earn 10% based on their contribution made by those you refer. For example, if you were to refer someone that had a $10k contribution you would get back $1k worth of sYSL tokens at the end of the discovery phase 💰

✅ BONUS MULTIPLIER

The bonus multiplier will effectively add a bonus on top of any deposits that you make during the sale period!
During the private sale the bonus multiplier is set to 3.00x !
So if you were to deposit 5k during the private sale, you will essentially receive 15k worth of sYSL tokens, that's $10k of bonus value 🤯

Follow Us On Our Various Social Media Communities For More Update;

Thanks to everyone that participated! 🙏

If anyone has any other questions, please don't hesitate to send us a message on our telegram channels!

Telegram (EN) 👉 https://t.me/ysl_io
Telegram (VN) 👉 https://t.me/ysl_vn

And don't forget the YSL.IO private + public sale begins July 1st 🚀
Twitter 👉 https://twitter.com/ysl_io

You can learn more about YSL.IO here:
Gitbook 👉 https://docs.ysl.io/ysl-io
Medium 👉 https://ysl-io.medium.com

FOLLOW AMA LOVERS CLUB ON:

Twitter: http://twitter.com/amaloversnews

Telegram Group: https://t.me/amaloversclub

Telegram Channel: https://t.me/amaloversclub_channel

Medium: https://amaloversclub.medium.com

Discord: https://discord.gg/tpbyv9