YIN Finance AMA Highlights: A Conversation with BTSE on August 19, 2021
On August 19, 2021, YIN Finance’s CMO Sylvia Chen joined the BTSE Exchange Telegram chat for an AMA.
YIN Finance is a multi-strategy NFT liquidity management platform that allows users to subscribe to the project’s strategy to achieve effective high-yield liquidity management. YIN Finance aims to provide proactive liquidity management services on different public chains and decentralized exchanges. Currently, we are deployed on Ethereum and will be deployed on Polygon and Solana soon. (Note: We’ve already received a grant from Polygon)
Here are the highlights of the AMA in case you missed it.
• • •
Introduction
BTSE Moderator:
Hi, welcome everybody to our AMA event on Thursday! Today we are very happy to have the team from YIN Finance join us for the AMA.
Please welcome Sylvia Chen from YIN Finance! Please go ahead and introduce yourself and your core team.
Sylvia Chen:
Hello Everyone, I’m Sylvia, the CMO of YIN Finance. I am responsible for all marketing operations and activities on YIN as well as external investments.
We are an anonymous team with a core team consisting of three crypto scientists. The founders have a ton of experience developing several leading DeFi projects. At the same time, all our team members have vast experience in risk management and smart contract auditing.
• • •
YIN Finance Overview
BTSE Moderator:
How would you describe YIN Finance?
Sylvia Chen:
We will do an IDO very soon, which we’re very excited about, so people interested in the $YIN token can follow us on Twitter and join our Discord for details!
YIN Finance is best described as a multi-strategy, proactive liquidity management platform. We help users manage their liquidity and provide yield farming rewards and $YIN token incentives on top of sharing transaction fees. We also support third-party yield farming protocols for our users.
• • •
YIN Finance’s Solutions
BTSE Moderator:
What is the main problem that the core team at YIN is targeting to solve?
Sylvia Chen:
OK, let’s take Uniswap V3, and only V3 as an example since a large portion of liquidity is resting in passive mode. About 77% of the total liquidity on V3 actually, which is a huge amount! The first time our core team read that, we considered it a massive inefficiency to have liquidity sitting around doing nothing for users.
What do I mean by passive? It means that the liquidity is provided by a type of user who doesn’t update their liquidity positions often.
In total, we found that only 1% of the total liquidity is actively being managed on Uniswap v3. We. Therefore, we see great value in providing strategies and features that help users proactively manage liquidity positions to improve the overall crypto market.
In conclusion, YIN Finance aims to provide proactive liquidity management services on different public chains and decentralized exchanges. To begin with, we will develop on Ethereum and also Polygon & Solana later on.
BTSE Moderator:
How is the team going about solving the problem?
Sylvia Chen:
OK, this question requires more details about the features and details of our product. YIN Finance has four modules, which act as a complete kit to help users achieve liquidity efficiency. The first one is the $YIN token, our native platform token, and we should note that of our four modules, $YIN is the only one that can be bought, sold, and leveraged.
The second module is YANG, which is your personal NFT Vault.
The third is the Grand Master module, which is our Leveraged Liquidity Pools, and it will launch in Q4 2021.
Last but not least, CHI is the most important part of YIN Finance. Every single strategy provider can create CHI, a programmable strategy NFT, it describes liquidity structure. And users can subscribe to different CHI methods to transform their assets to be more liquid.
• • •
YIN Finance’s Investors & Partners
BTSE Moderator:
If you are allowed to disclose, please do share with us your investors and partners.
Sylvia Chen:
We have a solid group of investors, including Fenbushi Capital, Dora hacks, Math Wallet, EVG Capital, Digital Renaissance Fund, and more!
Current partners include Polygon, Parsiq, Parami, 1sol, and more! We are waiting for the right time to publicize further details!
• • •
YIN Finance’s Unique Features
BTSE Moderator:
Please let us know which feature you are most excited about. What is the reason?
Sylvia Chen:
The most significant module of YIN Finance is the CHI module, as these are programmable smart contracts to optimize liquidity, created as an NFT.
Users can design their own strategies and build on the LP formulas, which have already been audited. External yield-baring protocols and farms will be provided for access. To begin, CHI strategies will be provided by vetted professionals before becoming an open platform in 2022 Q1, which will allow users to create their own strategies. A whitelist process will also be set up.
The platform itself has different strategies for users with different risk preferences. In the beginning, low-risk stablecoin trading pairs will be the primary focus, and then other trading pairs will be added according to the market situation and user demand.
• • •
What Makes YIN Finance Unique
BTSE Moderator:
There are quite a few derivatives trading platforms out there. How is YIN Finance placed among them?
Could you name one thing that other projects could never repeat and makes YIN itself unique?
Sylvia Chen:
There are some liquidity management products with similar targets to YIN Finance within DeFi. Liquidity management in DeFi is fairly nascent. YIN Finance chose to be an active liquidity management platform and has made great optimization among the existing competitors.
But let’s take Visor as an example. Visor and YIN Finance share the concept of active liquidity management, based on which we provide services. However, major differences exist. The Visor platform is the sole provider/creator of strategies focusing on high volatility strategies in the ETH-USDC trading pair from the start. For users, the primary yield comes from fees.
YIN Finance allows for user-created strategies, and the platform provides low-volatility / stablecoins strategies, third-party mining protocols, and interoperability supported for optimized strategy capacity.
In conclusion: YIN’s position is a more comprehensive, profitable & compatible platform for users to manage their liquidity.
Right now, we have the bug bounty program. We’ll then issue some NFTs to community contributors. In the future, we will pick some global ambassadors.
• • •
Questions from Community
7 (@aksvavaq):
Do you have AUDIT certificates, or are you working to audit your project to make it more secure and reliable?
Sylvia Chen:
Yes, we have been audited by Slowmist and Secbit.
• • •
annsamlen (@annsamlen):
What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market? The whole space will experience massive growth in the upcoming years, but what role would your project play in this?
Sylvia Chen:
Our vision is to become the DEX version of JPMorgan. We are more like a GP that manages the assets from LPs. We will help users find suitable yield farming protocols.
• • •
Quao Liam (@quaoliamzen99):
IDO coming soon, right? Will it work with IDO’s Launchpad Platform, or will it be hosted on its own? Because I think working with the Launchpad Platform is good enough to increase the attractiveness. Any info?
Sylvia Chen:
Yes, we are discussing with several IDO platforms. More info will be announced in the future.
• • •
Phuong Kisra (@phuongga24):
Regulation is very important. Projects are closed in many countries for failing to use proper regulations and permits. To be worldwide, how do you handle this problem?
Sylvia Chen:
Yes, we will find a lawyer to help us with the compliance and prove our token is a utility token instead of a security token. And our project is registered in Singapore, where the government regulation is embracing blockchain.
• • •
changchang (@bacthaytraders):
Do you have any Coin Burn / Buy Back systems or any $YIN burn plans to increase the value of $YIN & attract Investors to invest?
Sylvia Chen:
Yes, 50% of our income will be used to buy back YIN. 25% will be put into the staking pool to attract more ppl to stake YIN. It’s a perfect mechanism.
• • •
Twitter Questions
BTSE Moderator:
Q1 — The number of DeFi projects has grown tremendously, and therefore projects have struggled to provide liquidity. What is the YIN Finance team’s strategy for solving the liquidity problem, which has become perhaps the most important problem of DeFi projects?
Sylvia Chen:
As we are a dedicated development platform for liquidity TVL focusing on the long term, we fully expect to experience steady and sustainable growth as we continue to address and solve liquidity questions in DeFi. With our excellent team members and investors, we are confident in our ability to solve these issues. With strict monitoring of the $YIN token pool, users will be rewarded with $YIN tokens for providing liquidity.
The incentives for users to utilize our $YIN token are significant, attracting many DeFi participants to help provide liquidity for our platform. As the community grows, the value of $YIN will become more self-evident, therefore increasing available liquidity as well.
• • •
BTSE Moderator:
Q2 — How many blockchains does YIN Finance currently support? Since $YIN has cross-chain support, how can one access the token bridge?
Sylvia Chen:
We will support Ethereum, Polygon & Solana (we’ve received grants already from Polygon). While our MainNet currently only supports Ethereum, and note that our MainNet will launch in September, Polygon & Solana will be added in Q4 2021 in just a few months.
The $YIN token will be issued on Ethereum at first, but will become cross-chain afterward. Specific details on this we’re not quite ready to reveal yet; it will be a surprise!
• • •
BTSE Moderator:
Q3 — How does the project increase the token’s value, liquidity, and utility? So that it can lead to an increase in token prices? What is your plan to make your project stable and provide the highest return for investors in the long term?
Sylvia Chen:
Firstly, 50% of our income will be used for regular re-purchases of our $YIN token, and the $YIN Staking Pool can also be used to share the benefits of the project. Finally, the $YIN token will also be burned during the minting process of CHI.
• • •
BTSE Moderator:
Q4 — Almost 80% of investors have just focused on the price of a token in the short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in the long term?
Sylvia Chen:
- By staking into the YIN Stake Pool, you would be able to share the profits from the platform fees.
- YIN token holders can participate in the governance of DAO,
- allowing them to determine newly supported assets and to managing existing assets, etc.
- Gains from liquidation in the leveraged liquidity pool will also be distributed to the YIN Stake Pool.
- Users can add leverage given their YIN holdings.
- Strategy providers would need to spend YIN to create CHI.
• • •
BTSE Moderator:
Q5 — I saw on your website about the GRAND MASTER (Leverage trading protocol). Can you explain more about it? Can you tell us about your market leverage? How strong and safe is it and how do you plan to make it attractive to investors?
Sylvia Chen:
Yes, users with a high-risk tolerance will be able to deposit their assets in YIN Finance’s leveraged pools, which will be launched in Q4 2021. The amount of $YIN deposited decides the times the leverage pool can be multiplied, reaching up to 10 times of leveraged pool management. Note: Although it offers a chance for high rewards, it is accompanied by high risks. Users who like more risky and abundant rewards will be attracted to the Grandmaster module.
• • •
Upcoming Partnerships & Listings
BTSE Moderator:
Please share with us any future plans you have in place, any new exciting partnerships or listings?
Sylvia Chen:
We will do an IDO soon on a well-chosen platform.
Secondly, we will launch our MainNet in September; users can add liquidity on Uniswap V3 by using our platform after we pass the audit from Slowmist.
Thirdly, we will finish our alpha testing tomorrow as well as an airdrop campaign; you can still join in for now if you haven’t yet!
• • •
Current Roadmap & Long-term Plans
BTSE Moderator:
What is the current roadmap, and what are you planning to do in the near future? What are the long-term plans?
Sylvia Chen:
We will complete MainNet deployment and continue with audits & bug bounties to ensure stability, followed by our TGE in 2021 Q3. Complete Polygon and Solana deployment in 2021 Q4 and open leveraged pools/strategies, and add more markets/assets simultaneously. In 2022 Q1, users can create their own strategies, and a DAO will be launched, focused on multi-strategy management.
BTSE Moderator:
YIN Finance recently launched its testnet. Do you have more information you’d like to share?
Sylvia Chen:
● Our testnet is live for all users! You will have a chance to win $YIN’s AIRDROP. Welcome to participate by checking out this link.
● Test-net Tutorial: https://twitter.com/YinFinance/status/1420973542733082627?s=20
● Bug Bounty Program is also live
● Testnet
BTSE Moderator:
Alright! What should the community anticipate in the near future?
Sylvia Chen:
We will mint some NFTs as rewards for users participating in the testnet based on their level of participation and contribution. We also want to inspire and reward users who have been very supportive of our project from the early stage.
We will also be launching our global ambassador program, which involves collaborating with local KOLs to aid in building a local community for us and finally achieving true DAO governance. We will also have a corresponding incentive program for ambassadors in the near future.
• • •
YIN Finance’s Social Media
Follow YIN Finance to stay up to date about all future developments.
🌐 Website: https://yin.finance
⭕️ Twitter: https://twitter.com/YinFinance
📍 Telegram community chat: https://t.me/YinFinance
👉 Medium: https://medium.com/@yinfinance
🔗 Discord: https://discord.gg/cdHGD9Agny
💻 Github: https://github.com/YinFinance
