Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with YFUSDC Time on January 18th, 2021. This guest star Mr. Joel Filipe | CEO of YFUSDC @Joel7890. If you were unable to join the live AMA, no worries, here comes our 36th AMA recap!
Introduction Session
Host :
Hello Mr @Joel7890 welcome to the Bang Pateng community, It’s an honor to invite you to our community
Joel Filipe :
Thanks a lot. Its a pleasure to be here and introduce our project to your community.
Host :
Before we start our first session can you introduce yourself, your background and your team if you have a team working with you on YFUSDC @Joel7890
Joel Filipe :
I am Joel, founder of YfUSDC. I have over 10 years of experience in software development and business analysis across, Insurance, Finance, Pharmaceutical, Sports and Blockchain. Over last few years, I have been part of Fortune 100 companies, providing insights to client using Artificial Intelligence. Currently I am responsible for business development of YfUSDC and there are two developers, responsible for Artificial Intelligence and Blockchain Development.
Host :
Thanks for sharing your background. Good. AMA let’s get started.
Well we will continue to the first session, in this session I will give a question about YFUSDC, if you feel you have enough to give an answer, you can say “done”.
Joel Filipe :
Let’s start 😀
SESI 1 (Poject Introduction)
Q1. Can you introduce YFUSDC to our community?
Joel Filipe :
YfUSDC(YFC) is the fork of YfDAI, with advanced tech, building a holistic DeFi dual ecosystem combining the power of Blockchain and Artificial Intelligence.
YFC is an erc-20 token of YfUSDC ecosystem, where users will be able to stake YfUSDC to enjoy the return of 0.2% daily, 6% monthly or 72% yearly. The return with YfUSDC will be fixed, unlike the most DeFi protocols, where the supply is inflated, which usually results in decline in value of the token.
As YfUSDC is based on dual tech, one side of the ecosystem offers fixed returns the other side powered by Aritificial Intelligence offers variable APY, subject to marketing conditions, community can get rewards from 2% to 100% daily. Ofcourse, the AI can result in APY greater than 100%, if the APY is greater than 100%, the funds will be used towards features of YfUSDC.
YfUSDC also has several products which generates revenue for the ecosystem described further in the paper.
We are building a powerful and transparent decentralized ecosystem for the community and our goal is to make sure your investment is safe and more importantly it rises exponentially.
This is going to be a revolutionary system as we are combining the power of Artificial Intelligence & Blockchain, the whole DeFi world will benefit from it, establishing a decentralized and transparent future
Q2. What are the core features of YFUSDC? How are you different and unique from all other projects out there
Joel Filipe :
The core features of YfUSDC are, in addition to fixed APY of 2% daily, users can deposit fund to (Artificial Intelligence)AI Pool, which uses historical and market research data to generate profits for the users. Users can basically sit back and our tech works for you automatically.
The other features to be introduced are :
Staking, Token Swap, Launchpad and Insurance. Our AI feature and Insurance offering makes us truly unique from our competitors and more over, we are building a holistic platform, one platform for everything DeFi can offer.
Q3. I saw that YFUSDC has its token named $YFUSDC, can you explain what the token is $YFUSDC? What benefits can we get if we hold tokens $YFUSDC? And how to buy?
Joel Filipe :
YfUSDC is an ecosystem and the token is YFC. YFC is an erc-20 token of YfUSDC ecosystem. The benefits of YFC token are, it offers YFC holders, fixed returns or variable returns depending on which pools user deposit funds. The other benefits are, as the various features are launched, YFC token will be used to interact with the features, like Staking, Token Swap, Launchpad and Insurance. YFC token holders, will basically earn the rewards based on usage of ecosystem.
Q4. Nowadays Farming or staking is very popular. Have you provided your Farming or Staking Facility to $YFUSDC Investors? if you have, can you explain how to staking and farming $YFUSDC?
Joel Filipe :
We are launching Staking feature after the token is listed on Uniswap. The UI is very intuitive and users will able to stake at a click of button. There is an initial time lock of 24 hours, after which users can claim rewards of staking.
Q5. Could you please explain, what are your upcoming plans in a couple of month/years?
Joel Filipe :
Upcoming plans are to develop the features, Token Swap, Launchpad and Insurance and offer it to DeFi market. As the ecosystem evolves, AI pool is one feature we are very excited about as it is game changing and it definitely needs years of data to be intelligent and autonomous.
SESI 2 (Twitter Question)
Joel Filipe :
We are very transparent with our community. Every week, we will be sharing the updates about the timely status of development of YfUSDC ecosystem
Joel Filipe :
USDC is basically the stable coin pegged to dollar, YFC is the token on YfUSDC ecosystem and it is not a stable coin. With the upcoming developments the value of YFC will rise exponentially in future.
Joel Filipe :
YFC is an erc-20 token of YfUSDC ecosystem, where users will be able to stake YfUSDC to enjoy the return of 0.2% daily, 6% monthly or 72% yearly. The return with YfUSDC will be fixed, unlike the most DeFi protocols, where the supply is inflated, which usually results in decline in value of the token.
As YfUSDC is based on dual tech, one side of the ecosystem offers fixed returns the other side powered by Aritificial Intelligence offers variable APY, subject to marketing conditions, community can get rewards from 2% to 100% daily. Ofcourse, the AI can result in APY greater than 100%, if the APY is greater than 100%, the funds will be used towards features of YfUSDC.
YfUSDC also has several products which generates revenue for the ecosystem described further in the paper.
We are launching Staking feature after the token is listed on Uniswap. The UI is very intuitive and users will able to stake at a click of button. There is an initial timelock of 24 hours, after which users can claim rewards of staking.
Joel Filipe :
We do not have Global ambassadorial Program or Referral Reward System.
The benefits of YFC token are, it offers YFC holders, fixed returns or variable returns depending on which pools user deposit funds. The other benefits are, as the various features are launched, YFC token will be used to interact with the features, like Staking, Token Swap, Launchpad and Insurance. YFC token holders, will basically earn the rewards based on usage of ecosystem.
Joel Filipe :
Yes there is a feature in smart contract of Buyback and token burn in smart contract, when user stake and claim, 0.5 % percentage of token which are burnt forever, thereby reducing supply.
SESI 3 (Telegram Question)
Kaiphong :
Token burn” is beneficial for any project, in being able to control the number of token circulation and to provide greater incentives to investors. Does your great project have a plan about token burn
Joel Filipe :
Yes there is a feature in smart contract of Buyback and token burn in smart contract, when user stake and claim, 0.5 % percentage of token which are burnt forever, thereby reducing supply. However, its just one feature to avoid the inflation, which most defi projects have.
SIMPLE Sos :
What are YFUSDC marketing plans to do to attract more users as well as investors in the upcoming time?
Joel Filipe :
we are planning to hold more AMAs, also partnering with several Youtube and Twitter influencers. As the project evolves, we will be partnering with the top defi projects, so we as a community can evolve
TINI ZA :
Adoption & Awareness about Platform is very important for any Creator as well as Users! So, What are your plans to attract More users as well as Creators with Non-crypto users too ?
Joel Filipe :
check last answered question, MARKETING and development is the key here
KIM K :
If the 50% revenue used to BuyBack and other 50% sent to token holders than what are the benefits of the project itself? From where you generate revenue?
Joel Filipe :
Insurance protocol, being sold to Defi users and projects as a whole, launchpad sales, AI pool will generate revenue by arbitrage trading and trading across different exchanges.
ZAN ZI :
What passive income options does YFUSDC offer? Staking, Liquidity mining, Yield farming?
Joel Filipe :
Staking, Liquidity mining and simply holding, as holders will be rewarded from the fees generated by the ecosystem
CLOSING
Well… We declare AMA’s Series Bang Pateng with YFUSDC, is Done. 🥳🥳🥳🥳
thank you to the participants who have attended this event to the end. the winners will be announced soon🥳🥳🥳
Social media
📍 Twitter : http://twitter.com/yfusdc
📍 Telegram Chat : https://t.me/yfusdc
📍 Website : http://yfusdc.com/
📍 Medium : https://yfusdc.medium.com/ydusdc-defi-simplified-for-the-community-38270beece93