On this occasion we are pleased to tell you about the AMA session with our friends from YearnClassic Finance. The AMA took place on November 10, our guests were @JohnYearnClassic @yficlassic and @cryptogurunainen.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello again, Satoshi Club! We are happy to announce our AMA session with YearnClassic Finance! welcome to Satoshi Club.
D. | Satoshi Club: @JohnYearnClassic @yficlassic hello guys! welcome!
Mary | Satoshi Club: Could you, guys, introduce yourself and tell us more about YearnClassic Finance?
John@YearnClassic: I am John from YearnClassic and here with me are two other members of the team. We have a reputable team of experts with wealth of experience in diverse fields. We are motivated by success, growth and global adoption of DeFi products, and we are committed to see these through.
About YEarnClassic. YearnClassic Finance is a blockchain agnostic decentralized finance (DeFi) aggregator platform that supports DeFi projects deployed on Ethereum blockchain, Tron chain, Binance smart chain etc., focusing on simplicity, user experience, privacy and global adoption.
So basically, YearnClassic Finance is bringing Blockchain Agnostic into the DeFi Ecosystem, and as an independent fork of yearn.finance with improvements, our primary focus is on security, simplicity, user experience, privacy and global adoption. We are providing a classical way to optimally earn yield on assets. Its governance underline token is called YearnClassic (YFIC) token.
Our core products and features are; Staking, Lending, Yield farming, Vault, Governance, Zap, and full suite of Mobile Application for effective management of assets that helps to bring the best Defi protocols such as Compound, Uniswap, Synthetix, Fulcrum, dYdX, Aave, Nuo, Balancer, Curve, and many others to the masses.
Q1 from Telegram user @balkanika2
At this stage, the pre-sale, if I buy now I can stake directly. What is the approximate return we can receive and what is the minimum amount to invest in pre-sale?
John@YearnClassic: WE HAVE THE BEST STAKING FEATURES:
- Yearly APR: 100%
- Per Month: 8.3%
- Per Day: 0.27%
- Staking fees: 1.0% fee for staking, 0.5% fee for unstaking, 0% fee for claim.
- The minimum amount to invest in Pre-sale is 0.1 ETH
Q2 from Telegram user @Rebel99
On the Yearnclassic staking portal, I also see options for Zap, Vaults and Insure with a description of “coming soon.” What are these products and how would they benefit YFIC holders?
John@YearnClassic: Alright, thanks for the question.
y c: These are general features of Yearnclassic, and to enable users obtain the highest interest rate at all time.
John@YearnClassic: i.e Best way to earn optimal interest rate on assets.
Q3 from Telegram user @PaoloMonte87
Your tokenomics information state that once presale will be over 60% of the raised funds will be locked in Uniswap liquidity. Similarly, 10% of the collected funds will be used to buy back and then burn YFIC tokens after presale has ended. This action is supposedly meant to prevent people from dumping. Aren’t you worried that this will deter people from investing due to opportunity costs? What kind of incentives are you providing to persuade investors that locking is not only necessary for price stability but will also profitable for them?
y c: Locked Liquidity is always a plus and it will surely give price stability, also attract other liquidity providers to join in the pool. Once more Liq providers join in, it can equally drive the price. The features mentioned earlier is an outstanding feature that gives more incentives for investors.https://yficlassic.finance/tokenomics.html
Mary | Satoshi Club: I think the best way to prevent dumping is to create awesome product and people will hold it, do you agree?
y c: 100%
John@YearnClassic: Definitely and that is why we are given the best product to our investors and community.
Q4 from Telegram user @AmirJosh
It’s interesting that you actually added the names of the potential exchanges namely Binance, Kucoin, Balancer, Uniswap, FTX. How can you be sure that you can list your YFIC token in those exchanges or this is just for marketing.
y c: We have established a contact with Binance chain team based on the agnostic protocol we are providing and they equally find it interesting, even though no partnership as been made yet, but we are anticipating this. Likewise other exchanges, they are potential places we are looking at listing.
Mary | Satoshi Club: Did you already contact Kucoin?
y c: We sent an email already.
We have agreed with HOTBIT AND P2PB2B Exchange and trading will be opened on the 30th of Nov. And YFIC traders can start trading by then.
https://t.me/p2pb2b_io/276611 https://twitter.com/p2pb2b/status/1324729982053208064 https://www.facebook.com/p2pb2b.io/posts/983426475457360
Q5 from Telegram user @NataliyaKil
Now the topic of lending is very relevant. Have you already developed a loan program? What is the minimum amount of tokens that can be borrowed, for how long and at what%? Who will be able to use this service, how will it be necessary to pay the% under the agreement and is there a possibility of early repayment? And how will you be insured against unscrupulous borrowers?
y c: This is being discussed among our advisors and partners, it’s not been decided yet. It will be announced as soon as its decided.
Q6 from Telegram user @yzmoney
The yfi token has only 30,000 token, why does yearnclassic decide to go the opposite path and minted over 1 Million token? Is there any liqiudity pool lock being plan?
y c: Yes, because we agnostic and focused on global adoption, this is the more reason we have higher token minted. Similarly, we 15 will be locked on Uniswap permanently plus 60% ETH Raised.
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS
The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose some of them.
Q1 from Telegram User @Jonahapagu
On your roadmap for the duration of Q4 2020 -Q1 2020 you planned for “Zap Product Launch” Can you explain what this Zap product is and How it works?
Crypto Guru: Zap is a tool that enables users to swap into and out of several liquidity pools available.
Q2 from Telegram User @Idee01
What can I do to qualify for the $10,000 YearnClassic Raffle Draw? How many winners will be expected from the draw?
John@YearnClassic: What you can do to qualify for the $10K Raffle is to buy at least $40 worth of YearnClassic (YFIC) tokens. To participate Click Bot Link: @Yfic_bot. There will be in total 20 winners.
Q3 from Telegram User @tuvalunia
Your Presale round 2 is closing soon. What are the options of purchasing YFIC tokens, where should I visit on the web and do what?
Crypto Guru: Yes, the round 2 presale is ending soon and round 3 will commence immediately which will end on the 28th. Here is the link to get all information regarding the presale: https://yficlassic.finance/presale.html
Q4 from Telegram User @borysfireball
You write on the site about potential exchanges and it scares me. I remember that all the previous projects that hinted at Binance listing didn’t get there. Do you understand that such hints are potentially frightening, not attractive to investors?
y c: We mentioned earlier that these are potential exchange we are looking at. We have established contact with binance chain team based on the agnostic protocol we are implementing.
Q5 from Telegram User @DiegoRME
What benefits will the users who buy in their presale obtain and immediately enter your staking system with the $YFIC tokens purchased?
John@YearnClassic: Immediate benefits users who buy in their presale will obtain are:
- Can start staking immediately: https://yficlassic.finance/stake/
- Can get instant Airdrop (2 YFIC =$10)
- Can get instant Bonus structure
- Can be qualified for $10,000 Raffle Draw (check @Yfic_bot)
BONUS STRUCTURE for (BUY AND HOLD)
We have bonus program for all our investors
4-40 YFIC get 1% bonus, 41-80 YFIC get 2% bonus
81-160 YFIC get 3% bonus, 161-240 YFIC get 5% bonus
241-400 YFIC get 10% bonus, 401-640 YFIC get 15% bonus
641-800 YFIC get 20% bonus, 800 YFIC & Above get 40% bonus
Q6 from Telegram User @brodzonl
What happend to your website, I check it before AMA started to learn more about project and it is not working at all, did someone attack it?
John@YearnClassic: Please check back, we are working on it.
Q7 from Telegram User @Splendicity
Why are you guys anonymous? No profile picture in telegram and you disable calls in your privacy settings. How are we going to trust you guys or even reach you when we need assistance?
Crypto Guru: We are available and active 24/7 on all our social media platforms and you can as well reach on our pfficial email address: [email protected]
Q8 from Telegram User @NataliyaKil
For quarters 3-4, you have scheduled token burning. What tokens will be burned and how much?
John@YearnClassic: 10% of the raised funds shall be used to buyback and burn YFIC tokens after presale. This action will prevent people from dumping.
Q9 from Telegram User @notulu
How is $YCFI unique from other YEARN projects?
Crypto Guru: We are unique based on our value proposition, most especially blockchain agnostic we are bringing to the ecosystem. And with blockchain agnostic, different protocols and chains can communicate together effectively which would ultimately lead to global adoption, and this has huge long term benefits.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about YearnClassic. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Website: https://esatoshi.club/
Twitter: https://twitter.com/esatoshiclub
Our Partners:
YearnClassic Finance Community: https://t.me/yearnclassicfinanc