Altcoin Alerts x YIN Finance AMA Recap
Altcoin Alerts Community had an Ask Me Anything session with Marco (Team) from YIN Finance on 14th Nov 2021
Segment 1: YIN Finance Introduction & Q/A with Altcoin Alerts Team
Altcoin Alerts: Welcome to Altcoin Alerts Community Marco 😊
Marco: Hi all! Hi Ali! Thanks for having me
Look forward to share more about YIN Finance
Altcoin Alerts: Our pleasure
We are excited for the AMA with YIN Finance
Marco: Cool, let’s roll!
Altcoin Alerts: Can you briefly introduce about YIN Finance?
Marco: YIN Finance is a multi-strategy NFT liquidity management platform that allows users to subscribe to liquidity management strategies to achieve effective high-yield. We aim to provide proactive liquidity management services on different public chains and decentralized exchanges. Currently, we are going to deploy on the Ethereum MainNet, subsequently we have plan to launch on BSC, Polygon, Arbitrum, Solana and Harmony.
Altcoin Alerts: amazing
Can you introduce about yourself and the team behind YIN Finance?
Marco: More than happy to introduce! My name is Marco and I’m responsible for external communication and collaboration in YIN Finance team. I am mainly responsible for our global marketing strategy, user growth, project collaboration and pitches to Venture Capitals.
We are an anonymous team. The team at YIN Finance consists of several ‘scientists’, each with top DeFi development and community white hat experience. Our team members possess rich experience in DeFi project development, professional liquidity strategies as well as smart contract auditing experience, thus ensuring the security and financial return of our project.
Altcoin Alerts: very experienced team 👍🏻
Where does the project name come from? Why did you choose that name for your project?
Marco: It has got something to do with the Asian philosophy! The name YIN is derived from the ancient Chinese philosophy of yin and yang — the concept of dualism, describing how opposite or contrary forces may actually be complementary, interconnected, and interdependent in the natural world. This is almost a perfect representation of what a liquidity pool is, as it requires a balance of two assets added into a pool. If one asset starts decreasing in volume, the price gets raised to a level where equilibrium is restored between both assets — hence, a yin-yang type of balance.
Altcoin Alerts: interesting to know the story behind the name YIN Finance☺️
Would you mind to elaborate further on YIN Finance and what are the different features that users like us can expect?
Marco: I don’t mind at all!
YIN Finance consists of 4 modules:
- YIN, which is the governance token
- YANG, the user’s personal vault
- CHI, the programmable strategies
- Grand Master, the leverage pool
We can offer active liquidity management, automatic reinvestment and multi-party yield farming services for users.
CHI is the most important module because it is the core competitive advantage of YIN Finance to generate return for users. The strategy deployed via CHI are sophisticatedly designed by Shadow Labs, an institution which specialized in strategizing structural financial product, even in traditional market. Later on, expectedly in Q1 2022, YIN Finance plans to be an open platform where users can create their own strategy and allow others to subscribe!
Altcoin Alerts: Why should I purchase and hodl YIN token? What are the benefits?
Marco: With our pace of development, YIN token will be a good additional to your value investment portfolio! For our YIN token, there are 5 major benefits as below that you wouldn’t wanna missed!
- $YIN can be staked into YIN Stake Pool where users will be able to earn distributed platform transaction fees;
- $YIN holders will be eligible for the governance of DAO (Decentralized Autonomous Organization) with voting rights for proposals and updates, proportional to the amount they hold;
- Users can add leverage into their leveraged liquidity pool, proportional to the amount they hold;
- Users will also receive gains from liquidation within leveraged liquidity pools
- $YIN is also required when creating personalized smart strategy CHIs in YIN Finance MainNet V2.
Altcoin Alerts: nice use case of YIN token
What ‘s Yin solutions to secure the money ? What ‘s Yin solutions to secure clients’ asset?
Marco: From security standpoint, our contract code is being audited by two institutions, Secbit & Slowmist. Slowmist audit is completed while Secbit’s audit is still on-going and we expect it to finish very soon! Apart from stringent audit, there are also many community white hats within our team. In order to ensure the safety of users’ assets, we have a relevant risk control measure in place. Security of asset on our platform is our utmost priority!
From our strategy reliability perspective, at the beginning, all CHI strategies will be provided by the YIN team through Shadow Labs, a premium research institution responsible for the research and development of active liquidity strategies. They are experienced in formulating strategy to capture financial return, even in traditional financial market. At later stage, any new CHI strategy submitted by users will be strictly audited before release for public to subscribe to.
Altcoin Alerts: good to know that, Audit is very imp
Understood that there are a few service providers in the liquidity management space already. Can you share with us who are your competitors and what is YIN Finance’s unique selling point?
Marco: Yes, liquidity management in DeFi is an undiscovered gold mine and many have been paying attention to it even before the launch of Uniswap V3. YIN Finance chose to be an active liquidity management platform and is in position to make great optimizations among existing competitors. Some players already in the market for reference are Visor, Charm, Tokemak, Unipilot and Popsicle Finance.
Taking Visor as an example, as we all know, Visor and YIN Finance share the principle of active liquidity management. However, major distinctions exist. Visor platform is the sole provider/creator of its strategies. Focused on high volatility strategies in the ETH-USDC trading pair, users mainly gain from fees incurred.
YIN Finance allows user-created strategies, and the platform also provides low-volatility stablecoin strategies, third-party mining protocols, and interoperability supported for optimized strategy capacity. Therefore, YIN’s position is a more comprehensive, profitable & compatible platform for users.
Altcoin Alerts: Can you please share about partnerships established and also investors for YIN Finance?
Marco: Oh, at present, we have 7 official announcements, about our cooperation with Polygon, Parsiq、parami、1sol、wepiggy、DODO、goPocket, Drops and there will be more official announcements about YIN Finance co-operations in the future, we will announce it according to our road map. We also have our weekly report on our Twitter, which gives updates on all developments including partnership update from YIN Finance.
Investment institutions include Fenbushi Capital, SevenX, Axia8, RBC Capital，EVG, Krypital Capital, DODO and etc. All investors also provide strategic partnerships that help with the success of YIN Finance. As we speak, we are also in contact with multiple investors and actively looking for synergy and potential value added from each parties. For grant, we have already secure one from Polygon team so rest assured we have close collaboration with polygon and look forward to deploy on it. On the other hand, we are also working closely with other teams for grants and will disclose soon in our official channels 🙂
Altcoin Alerts: nicely answered all question, i hope audience got lots of knowledge about YIN Finance
Segment 2: Twitter Questions
Q1. Tell me about the IEO of $YIN that will held in http://Gate.io
How many $YIN will be allocate in IDO and IEO round?
Marco: Ahhh, YIN Finance token sale recently completed on DAO Maker. YIN token sale will also be held on Gate and DODO exchange on 14 November. Our token will be listed on DODO, Uniswap, Gate and MEXC on 15 Nov at 8PM Utc+8. Initial circulation market volume will be around 2M tokens.
- Public Sale Price: $0.30
- Private Sale Price: $0.30
- Seed Sale Price: $0.20
- Initial Marketcap: $638,100
Segment 3: YIN Finance Q/A with Community
Q1. DeFi has three areas: DEX, Total Assets, and Loans. What exactly is YIN Finance focusing on? What other plans will you focus on?
Marco: For now, we are really focusing on Decentralized Finance, not exactly Decentralized Exchange. For Decentralized Exchange, it will be where we list our YIN token, as well as CEX too. For Decentralized Finance, which is our main focus now, is surrounding the optimization strategy for Uniswap V3 liquidity provision management, because we realized there are huge paint points for new comers to identify the right price range, identify the right timing to adjust asset, strategy to minimize impermanent loss and etc. So this is what we are solving for now.
For Total Assets, I am unsure the definition for it. For Loans, yes, we are contemplating to venture into this space in our next steps, after we get our feet on the ground for strategy and go live in multi chains. Other plans including diversifying our structured financial products on the Defi world to the users!
Q2. Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
Marco: Apart from solving the pain points of users in Defi, we are definitely not looking to create more complication for UI/UX issues. We work with worldclass designer to make sure we have the right UI/UX in place to ensure users can get to our service without any confusion. We also launched a bug bounty programme to ensure we get the right crowd to examine our platform! If you find our platform has any bug / inconvenience, feel free to be in touch with us and let us know!
Q3. Could you elaborate more on the CHI strategy for nft liquidity? How is it gonna work?
Marco: Sure! In the beginning, all CHI strategies will be provided by the YIN team through Shadow Labs, a premium research institution responsible for the research and development of active liquidity strategies, users will be able to apply to create their own CHIs as YIN Finance grows and matures.
Hypothetically, situation 1, let’s say you deposit liquidity to a BTC / USDT pool in Uniswap V3 without CHI. In this example, let’s say 1 bitcoin is worth 50k USD and you set a range of 45–55k USD. In this situation, if bitcoin fell sharply out of your range to say, 40k USD, total portion of your liquidity would have been converted automatically into bitcoin as people rush to sell off. At price of 40k USD per BTC, you are left with a full bag of BTC with no more liquidity fee. Situation 2, with CHI instead, it would automatically swap a certain amount of your BTC in the pool into USDT in advance, even before BTC price reaches 45k USD, while reallocating some liquidity around the 40k price range to avoid impermanent loss and allowing you to regain returns from your assets.
Q4. Many project has some policy to attract new investors. how do you plan to attract non crypto investors?
Marco: Briefly speaking, we are providing a genuine business model to attrach non-crypto investors to invest in us. Currently, there are two genuine mechanism to make money in the defi world, one is through borrowing / lending platform and another is via liquidity providing. We are focus on the latter and we believe this will sustain through in the long term as more people involve in the defi space. So stick to this objective should generate enough value to keep the project stable and sustainable into the future.
In contrast, for other projects that have no actual business plan / model to make genuine money, they will depending solely on pump and dump mechanism. At the end, rug pull is inevitable. So make sure you choose wisely on the project that you want to invest in. Pick one that has (1) genuine business model (avoid rugpull) and (2) high asset security (avoid being hacked). For projects like this, they will have hard time to get investment even from crypto related investors.
Q5. What do you think the future trend of DeFi is? What is the biggest flaw that DeFi is currently facing? And is the YIN Finance project looking to solve that problem?
Marco: Considering the existing chaotic Defi space, the biggest flaw now is to convince and educate the publics on the safety and security of our platform. As you may know, countless people fell into scammy projects and got rugpulled. People are losing confidence on the Defi world, especially new comers who have had bad experience right from the start.
In order to resolve this obstacle, we are trying to reach out to as many audience as possible globally to introduce our project (includ. business models) and security measures. In addition, all our codes are being audited by two renowned parties, Secbit and Slowmist. At this stage, we have successfully secure the approval from Slowmist. Our smart contract code is 100% transparent on chain for public to inspect too. Aside from that that, we also take strict measurements internally to avoid any safety issue. We are grateful to be able to answer questions worldwide and share our vision with everyone.
YIN Finance Useful Links: