AMA Recap — Yearn Lab
The session of AMA ( Ask Me Anything ) with YearnLab was conducted on 7th Dec 2021 at 5:30 PM IST (12 PM UTC) and lasted for 1 hour.
Wizard, CEO & Founder at YearnLab has joined us for this AMA session.
Please tell us about yourself and the team working on YearnLab?
I’ve been part of the software industry and secured positions at management & leadership level since 2008. I get to know about crypto/blockchain for the very first time in 2012. I did research and write some articles. Though, After 2017 everyone witness how crypto was boomed that time I was advisor at countless projects in crypto space.
I am CEO/Founder at Yearnlab the world’s most innovative 2.0 Advance Yield Farming Protocol Based on Binance Smart Chain. We have started this Yearnlab journey 6 months back with just 5 people team in June 2021 now we are 30+. After spending too much effort and developing a staking product now we are here and ready to launch the product to achieve this goal and to become number 1 amongst all defi projects.
What is YearnLab? Please provide a detailed introduction.
Yearnlab is a cross-chain protocol. Unlike its counterparts, Yearnlab’s aims to bring the most updated service of DeFi to its users. A smooth a reliable trading between heterogeneous and homogeneous blockchains is the top priority of Yearnlab. Yearnlab’s aim is to bring the most updated service of DeFi to its believers.
We are offering interesting features like:
*We have features like
*Create your own custom token
*Setup your token and offer staking reward to the community
*Multichain yield farming
*Paypal/credit card integration
*Governance to empower community decisions
*Cross-chain liquidity aggregation protocol
*Multi-chain staking as a service
*Asset farming on multi-chain
What are the unique features of YearnLab? What is the APY percentage?
Yeah when it comes to the blockchain it's very hard to differentiate one project from another based on unique features but yearnlab is not left behind in it.
Yearn lab is offering two unique features as follows:
1. Cross-chain liquidity aggregation protocol
Interoperability among blockchain is a burning concern at the moment. Cross-chain liquidity aggregators address this issue by aggregating liquidity resources from multiple decentralized exchanges, and their own cross-chain pools.
Yearnlab will soon declare itself as a cross-chain liquidity aggregator protocol. This platform will soon allow free trading among different chains including etherum, polkadot. Our project aims at becoming a multi-chain co-existence.
Let me share visualise to get a clear picture of how it will work.
Another unique feature about yearnlab is SAAS
2. Staking as a service
At Yearnlab any participants will be able to create their own token with their desired names. These token will then be backed by Yearnlab. You will be able to use your newly generated tokens to set up your staking pool. Here you will be able to earn substantially higher APYs on your staking pools, compared to holding your funds in other means of financial markets. Apart from many other facilities, offering staking as a service will enable our customers to utilize their funds efficiently. Staking represents an efficient intriguing idea in both governances of yield farms and investment. It will hopefully open more doors for greater opportunities in the future. We are delighted to provide our customers with the best facilities.
APY is another twist in our project, yearnlab is offering impressive APY up to 150,384%, interesting thing is staking platform will be live right after presale ends so users or YLB holders can experience staking guaranteed.
Here you can see:
How to create our own tokens? When is the presale? Also share your Roadmap.
Apart from offering impressive APY, yearn lab introduced a platform where a layman can create their custom token with the desired name and set up staking pools.
Let’s say JontyD wants to create his own token. He’s very excited to create it and launch it. He has even decided the name of his token $JTD, quite JteeD. Everything is streamlined so far. But there is one problem, Yearnlab requires at least 15000 $YLB tokens which is equal to 1 BNB, for JontyD to create his own token. These funds can be unlocked at any time later on. But unfortunately, JontyD does not have the required funds to provide at the moment.
JontyD really wants to create his token. So he asks family and friends to lend him some funds.
Sadly, they refused. He has another idea; he will open an ICO or conduct a pre-sale of his token. JontyD is good at marketing, he has people who believe in the success of his brand, so they participate in his pre-sale. Luckily, he has arranged the required funds. Now he can simple buy BNB tokens from pancake swap.
So far, JontyD is all set to convert his BNB into $YLB tokens to meet the requirement and create his own token. Now it’s time for him to follow a few easy steps to create his token in less than 5 minutes
So how do you feeling having your token @Jontycrypto 😄?
Partnerships is one of important factors for every project. Could you name some of your partners? What are the benefits that you get from them? And is there any partnership that will be established in near future?
Yeah, I completely agree with you, a project with a partnership gives more confidence to their investors especially when the project is in its presale phase and team need funds to advance the development and expand their resources just to achieve the milestone on time. Again Yearnlab is not behind in collaboration. Yearnlab and BerryData Reached a Partnership To Integrate Berry Oracle Team berryData will assist and integrate their price oracle with Yearnlab. For more detail please read the following article on our official medium page.
By next year, Yearnlab is planning to deploy its upcoming product which is a Staking-as-a-Service platform. Can you tell us more about this product? What will be the contents and the structure? Who will be the participant and how could investors generate income?
Staking as a service for those who lack in development. Using our simple interface they would be able to set up their own staking pool and they can offer desired APY/DPY to their community. In simple words, they can replicate yearnlab utility with just a few clicks.
As Blockchain field requires some technical knowledge, Isn’t it?
Don’t you think it will be a difficulty for Non-crypto users/ Customers to operate in this new field?
We believe in inequality that is why team yearnlab introduce a platform where non-tech people can set up their own tokens and staking pools.
What is the competitive advantage of your project? Can you point out the strengths of your project that other projects do not have to attract investors?
We are offering a great length of features that strengthen our project over competitors, Cross-chain liquidity aggregation protocol is one of them.
What is the minimum amount to invest?
0.3 BNB is minimum to participate in our presale you can join presale on pinksale:
here is the link: https://www.pinksale.finance/#/launchpad/0x09C14E72487bA8d5173f81477e8F09158801245b?chain=BSC
Can you explain and describe Yearn Lab’s involvement with the bilion dollar NFT industry at the moment? Do you upcoming plans and projects on the way that manifests NFTs and NFT-related products?
We do not have NFTs use case in our project we are strictly working on yield farming & staking.
Does your project support staking program?, if yes, how is, your stake system work what is the requirement, for user, if they want to stake in your platform?
Yes we do, we are giving impressive APY you can visit our official website for more detail
Trust and security are very important in any business, does it secure the information and deposits of investors, customers and users while working with your project?
In order to ensure investors funds are saved, we have done third party audits from 3 different audit firms including Certik/QuillHash/DesertSwap.
In Yearn Lab’s Ecosystem, what can I do with Yearn Lab? Is there a way to get compensated if you hold your Yearn Lab token? What are the advantages of holding it for a longer period of time?
You can stake and enjoy impressive rewards on daily basis, no withdraw or unstake limit enjoy a seamless experience with yearnlab. we have done third party audits from 3 different audit firms including Certik/QuillHash/DesertSwap.
Yearnlab Presale Live on Pinksale (Open for everyone)
7th Dec — 16:00 UTC
Presale Price: 1 BNB = 15000
Public listing price: 1 BNB = 13500
0.3 BNB Minimum
8 BNB Maximum
Liquidity = 10 years
SC/HC = 1000/2000BNB
Official Contract: 0xfb585322fbd121ce20b857e2ccd85a43ad496573
All tokens locked on pinksale
17% Unlocked tokens reserved for staking reward in staking contract (Staking pool will start once presale is over)
Audit done by Certik: Audit Report
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest Wizard from YearnLab. AMA Concluded at 6:30 pm IST.