AMA RECAP : CRYPTO CHALLENGERS x YSL.IO

Hello chat, welcome to special AMA session with YSL.IO.
Lets welcome hardev_ysl from YSL.IO.

Hello! Its great to be here, thanks for having me!

SEGMENT 1 — INTRODUCTION SEGMENT

Q1. Could you please provide a quick self-introduction for the community?

Greetings Everyone 👋🏻
‌Its great to e-meet you all today, and thanks for tuning into this AMA!
I am Hardev Dhillon, the Co-Founder of YSL.IO
‌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 love numbers!). I have broad experience across banking/accounting (HSBC, Westpac, KPMG, and Deloitte), which has allowed me to appreciate the importance of driving error-free standards for compliance, develop strategic plans for transformation, and create risk frameworks for the evaluation of a range of sectors/functions.‌

Q2. Can you briefly introduce the project BANKSOCIAL . What are some of utilities of $BSOCIAL? How do you think you stand out amoung the competitors if there are any?

Here’s a quick overview of YSL.IO and our key aspects that help us stand out:
YSL.IO 💎 = [ ⭐️ Yield + 💗 Staking + 🌊 Liquidity ] = 🚀
YSL.IO is a cutting-edge DeFi tool designed to OPTIMISE and AMPLIFY the returns from yield farming platforms, whilst maximising the benefits of LOCKED LIQUIDITY to create a truly unparalleled token economy.
‌✅ Zero Platform Fees — YSL.IO does not charge a Deposit fee, Withdrawal fee or a Performance fee
✅ Novel Tokenomics — The price of our governance token (sYSL) is correlated to YSL-BUSD liquidity
✅ Continual Growth in Locked Liquidity — Our protocol autonomously creates YSL-BUSD LOCKED LIQUIDITY
✅ Block Rewards — We provide appealing staking options for sYSL token holders and YSL-BUSD liquidity providers
✅ Highest APR (%) — Our protocol will OPTIMISE positions (held on a AMMs) by 300%, and is capable of AMPLIFYING these returns by a further +100% APR!

Q3. Can you share the achievements the team has made so far? Wha are the major achievement target BANKSOCIAL is yet to achieve.If possible also share your roadmap?

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

Q4. Could you share a bit about security and also benefits you provide to incentives users choosing your platform?

We can always be better, and intend to grow YSL.IO on all levels and fronts!🚀
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

Q5. What is the total supply of the token? Could you share a detailed tokenomics of mainnet token’s supply distribution?

Our protocols core system architecture and smart contract logic will undergo MULTIPLE EXTERNAL AUDITS before launching. We plan to engage with well-known and reputable parties such as Certik and Zokyo, so you can have piece of mind that your funds are SAFU!
More importantly, our smart contracts have been developed by a team of experienced blockchain developers that not only have extensive knowledge of DeFi protocols and their associated specifications, but also have an internal audit process embedded within their development process to ensure the reliability and safety of our protocols functions.
And having a background in risk management myself, i appreciate the benefits of having a risk-oriented mindset and believe its critically important to be proactive when it comes to the implementation of practices to detect any potential hazards. Therefore, we have decided to make our code publicly accessible via GitHub (https://github.com/ysl-io) only once it has undergone multiple audits. In addition to this, we also intend to conduct ongoing audits on a regular basis, to ensure the long-term maintenance of our protocols security, reliability and safety.
Here’s are some examples of features that we have incorporated into our 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.
A great incentive would be the fact that we have designed our platform to be extremely cost effective from a users perspective!
❌ ZERO SWAP FEES
❌ ZERO DEPOSIT FEES
❌ ZERO WITHDRAWAL FEES
❌ ZERO PERFORMANCE FEES
And we’ve made it extremely easy for a user to benefit from our protocols exceptional yield optimisation function, users simply need to deposit their LP tokens into any of our active vaults and our protocol will handle all the heavy lifting of optimising your returns, its that simple! 👍🏼

SEGMENT 2 — LIVE Q & A

Q1. FROM @ThinkPerfect007

When THE BEAR MARKET COMES
WILL your token PROBABLY DUMP
Are you prepared for this bear market?
How will you handle the panic of your Investors?

Great question! I strongly believe that the key to real success for 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 tokens. 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. This auto-generation of liquidity occurs whenever a user interacts with our platform, and there are total of10 in-built mechanisms that to this! (explained in our Gitbook 👉 https://docs.ysl.io/ysl-io/ysl-core-protocol-1/auto-lock-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! 🚀
⏫ YSL.IO TVL = ⏫ YSL-BUSD liquidity = ⏫ sYSL token price

Q2. FROM @johnclark_0

What are the sophisticated techniques to optimize and amplify yield farming returns with YSL? How will your platform generate income to sustain the functionality of your platform?

YSL.IO challenges the status quo by being different!We have a completely unique approach to yield optimisation, that is fuelled by the creation of YSL-BUSD locked liquidity. Our protocol has been designed to maximise the returns of third-party tokens through the creation of locked liquidity, optimising the APR (%) of positions held by users on a AMMs (such as ApeSwap and PancakeSwap) by 300%!For example — It will increase the APR of a users CAKE-BNB position on PancakeSwap from 58.29% to 173.67%! 🚀That’s not all! As users are capable of improving their optimised returns by further +100 APR%, by utilising our Amplification function!‌More details on our revolutionary Optimisation & Amplification functions can be found in our Gitbook (👉docs.ysl.io)

Q3. FROM @to_the_moon_pheww

I want to know about Pre-Sale .When and where it’ll Start?If it’s possible then Please Share you Pre-sale link

Our private and public sale is open to all, there’s no whitelist and everyone is welcome to participate!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.
IMPORTANT: The sYSL token will only available to be purchased until one-month after the platform launches.
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!

Q4. FROM @Winantri_Amila

As an Asian, I would like to know How do you plan to spread awareness about your project in Asia, where not everyone can speak English? Do you have a local community for them to better understand your project?

Diversity is the most overlooked aspect of most projects. I’m a strong believer in diversity and its ability to propel a project forward though community driven innovations, initiatives and resources.We are committed to creating a truly diverse community, and to achieve this we have arranged over 70 AMA’s with several local communities based all across the globe. This includes countries such as China, Vietnam, Indonesia, Malaysia, Singapore, Korea, India, Turkey, and Iran!Currently, we are having our comprehensive Gitbook translated into several languages, this will ensure our concept is better understood in any countries/ regions where English is not commonly used!In addition to this we intend to release informative material in several languages so that people from all across the globe will better understand the benefits of YSL.IO.On top of this, to help raise adoption of our platform in any countries/ regions where English is not commonly used, we plan to offer different languages for the frontend language in the near future!

Q5. FROM @ThinkPerfect007

So many RUG PULLS are here in crypto market . And many projects have been pulled in and out of scams recently . Why people should trust your project ?
Do you have proper security for your project ?

Every opportunity comes with risks, and DeFi is no exception. However, these points will help convince you of that safety and security is our top priority!
✅ FULL PRODUCT LAUNCH — The YSL.IO platform will launch with live vaults, regardless of the amount received during the private and public sales.
✅ SMART CONTRACT AUDITS — Our protocol architecture and logic will undergo multiple external audits, you can have peace of mind knowing that your funds are SAFU!
✅LOCKED LIQUIDTY ( Locked for 1000 YEARS) — The WBNB/BUSD received from the sales will be used create YSL-BUSD locked liquidity on ApeSwap Finance, No Rug Pull!
✅ TEAM — Our team is not anonymous and our blockchain developers have extensive knowledge of DeFi protocols, you can rest assured the protocols will be safe and reliable.

— AMA CONCLUDED —

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