Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with Yearn Finance Center on October 26th, 2020. This guest star Mr. John Lewis. If you were unable to join the live AMA, no worries, here comes our 11st AMA recap!
We are glad to meet here:
John B. Lewis – CEO of Yearn Finance Center
Before we start our first segment kindly introduce yourself to the community?
My name is John B Lewis, founder and CEO of Yearn finance center project (YFC)
Let me give you guys a little background of mine. I’m originally a software developer with 20+ years experience working at top retail, finance and government agency’s in United States. I’m working on blockchain development since 2017 and completed a short contract with Maker DAO in 2018. Since then, I started developing my skill set to learn more languages including solidity.
We originally forked the YFI vault model and DFI.Money staking platform to develop or add features. We started this YFC project two months ago and decided to not be as anonymous team. So, we came visible to community to gain trust in market. We started development and ground work in September and launched presale this month on 21st.
Currently, the pre-sale is still live and we decided to speed up our farming and staking platform in early November. website: yf.center
Question Segment 1
Q1. Could you please describe what is Yearn Finance Center $YFC?
n short words, to make it so clear YFC is a simple interface to Defi for non-techies. YFC aims to be the gate for yield-generating platforms in the Ethereum ecosystem.
Yearn Finance Center uses Defi protocols such as Curve, Compound, Aave, and dYdX to optimize token loaning, and it is the fork of YFI.
In sum, it is a simplified, intuitive interface that directs liquidity to different places in Defi to find the best return.
This is a simple fork and we using the same code as YFI to start our development on existing platform. We may add more features and go for audit. Currently, we do not require audit as YFI already audited project.
Q2. What are the core features of $YFC? How are you different and unique from all other projects out there?
To expand my answer, currently we are not much different than others. But, our agenda is to make the difference and be competitive in yield farming and staking platforms.
Investors can expect a unique platform from us with high APY% returns when they stake. There are other core features which we are adding to existing protocol are lending and borrowing.
We also going to be so unique in terms of very very low supply. We have a big surprise to whole community after round-3 sale ends. I hope we run platform with very low supply which crypto never ever witnessed before.
Q3. I saw that Yearn Finance Center has its token named $YFC, can you explain what the token is? What benefits can we get if we hold tokens? And how to buy?
The description of the token and its features are mentioned on previous answer 🙏🏻😊
So the benefits of buying this token is to stake and farm. Users can farm YFC tokens with a competitive interest rates thats we ever have in the market. Even though we have low supply, we allocated few tokens for farming our purposes. This helps token price to raise more than 5000$ in near future.
Currently, the price of one token is 100$. All the buying instructions are pinned to our group post. Please join our telegram group and moderators can help you buy the tokens.
Q4. Now a days Farming or Staking is very popular. Do you have any plans of providing Farming or Staking Facility to $YFC Investor?
According to the previous answers, YES. Our platform is similar to YFI and DFI.Money.
In other words, YFC is nothing but staking and farming platform.
Q5. Could you please explain, what are your upcoming plans in a couple of month/years?
Our roadmap is to get YFC to top exchanges including on binance chain. We may do it little late, but we are going to trade on binance one day. It could be by December or early Jan 2021.
The extra features for development and upgrade plan are scheduled to next year. But, this year plan is to launch working product in early November where we expect new users when we actually go to public sale on exchanges.
Question from Twitter
Q1. What is the Yearn Finance Center doing for the mass distribution of DeFi technology? How easy is it to use $YFC in an existing infrastructure?
To be honest, we are currently same as YFI and DFI.money. We are not doing nothing great than that. 😊
But, as I mentioned in my previous answers and points raised we will implement new infrastructure that helps non-techie users to easily understand the protocol.
For example, if you go to YFI website, it’s hard to understand what’s going on. Not every user is smart enough to get the vault concept.
We avoiding that confusion and make the infra and UI looks easy to understand to stake and farming.
Q2. What are the 3 main features you would recommend to us? What are the applications that #Yearn Finance Center targets in the future (daaps, finance, business)?
Actually, the answer is in your question. 😊🙏🏻
All three DAPPS for sure. Lending and borrowing. Business is the term since we are one organization.
Q3. With the current popularity of Defi, make investors dive into the world of cryptocurrency. and as we know, building Defi requires a large amount of capital. can you tell a little about the origin of the Yearn Finance Center formation?
Building an Defi platform really not requires large capital. Large capital created when user adapted it rapidly.
To speak behalf of YFC, currently I don’t have any answer until Nov 1st. We are changing our plans on that day. 🙏🏻😊
Q4. How are we sure that this project will be good in the future when the whitepaper and roadmap don’t exist yet? when will you publish it?and can you explain a little of this project going forward?
Please check our website for roadmap information.
Regarding Whitepaper, we are just one week old. We will release the white paper when we actually launch working product.
I mentioned all the project plans on my previous answers 🙏🏻😊
Q5. Can you explain, How much $YFC will be locked? Do you have plans to integrated a deflationary model like Buy Back or Burn mechanism?
Sure. Large amount of % will be locked for 3 years. During creation of our contract, we set enable burning function already.
Honestly, there is no buy buy model right now. We no need to since we planning to reduce supply that we never have in crypto before.
We will surprise community after round-3 ends.
Question from Free Asking
Q1. There are so many ‘YF’ Token exist, and now YFC. Actually these token made me confused and thinking “Are you just utilize the superiority of ‘YF’ name for YFC?
” If no, please tell me what make YFC be different and valuable True. I can understand your concerns. Most of the 95% of other projects starts with “YF” are scam. You no need to confuse, it’s simple a SCAM.
The reason we mentioned the “YF” name is because we actually forking it from YFI. Also, we never hide behind the scenes. We are not not anonymous and visible to the community
When we does the right thing, we need to show up who we are really.
I can assure everyone, we are here for long term journey. Those who want to join the train will show them the profits 🙏🏻😊
Q2. Who is building the business and tech and your upcoming plan in the near future?
We located at California, United States.
We hired few developers last month to start the actual back ground work to launch the product.
I myself a experienced developer, we together building the whole thing to launch product. 😊🙏🏻
Q3. Investors are afraid of scam, exchange is afraid of scam, partners are afraid of scam, so what does Your project guarantee not to scam investors?
It’s simple. We are not anonymous. There is no other strong guarantee in the world where we showing our real profiles. 😊🙏🏻
Q4. If anybody thinks your project really likes a scam project, and they can not trust this project. How do you make them believe in your project?
We explained our community our plans and gain their trust. We may not raise funds, but we have a good name in the pre sale market right now.
Money is not everything, but getting a good name already is a huge success.
Since, we are not anonymous. There is no trust issues here. This is community owned project, we listen to the community and decide what to do. 🙏🏻😊
Q5. What was your motivation in developing the Yearn Finance Center?
We inspired from YFI itself. The new Era in crypto. DEFI will be hitting central banks in near future.
This is the reason we forked YFI and added to our development list. Our goal is to add more features which are not on original YFI. 🙏🏻😊
My advice to community is to buy tokens now if you really trust us.
Because once we move to round-3, there will be a huge surprise to investors which are potential gains. Join us: https://t.me/yearnfc
MORE INFO ABOUT YEARN FINANCE CENTER