CRYPTO NATION AMA SESSION WITH YFIDAPP FEATURING LEAD DEVELOPER- SIR ALEX
AMA MODERATOR: Hello entire Crypto Nation community! Today we will be hosting AMA session with YFIDAPP Project. Our guest is the Lead developer of YFIDAPP; Sir Alex
SIR ALEX: Thanks for the welcome
AMA MODERATOR: Question 1. Could you briefly introduce yourself to the community?
SIR ALEX: I am Alexk (fransics) Lead developer of YFIDapp with a never ending love for blockchain technology. Like other YFIDapp founders, I also have a long history with trading and I am eager to see changes in the DeFi sector.
Being lead developer, I am determine and dedicated to play a major role in creating a secure and reliable platform. I have in-depth knowledge of JavaScript, Node.JS, Distributed Ledger Technology, Ethereum DAPPs, Real Time Web Apps, etc.
AMA MODERATOR: Question 2. Can you introduce your project? What makes the YFIDAPP project stand out more than other projects in the same direction at the moment?
SIR ALEX: YFIDapp is a multi-faceted, decentralized finance solution built on the Ethereum blockchain. The YFIDapp platform consists of five core components that promise high-yield returns to borrowers and lenders participating in the ecosystem.
These 5 core components are Borrow, lend, insurance, game and trade. Details of each component users can check from our website http://YFIDapp.finance
Litepaper link: https://yfidapp.finance/pdf/YFIDapp%20Litepaper%20v1.0.pdf
AMA MODERATOR: Question 3. When and where will the YFIDAPP token list on any exchange?
SIR ALEX: YFIDapp trading is live on Uniswap and Alterdice already. In future, YFID will get listed on more exchanges.
AMA MODERATOR: What is the total supply and circulating supply?
SIR ALEX: Here is the TOKENOMICS detail :-
Total Token Supply:- 100000
Circulating Supply:- 15000 (Uniswap Liquidity Locked For 1 Years)
Staking:- 30000 (Locked)
Team and Advisor:- 10116 (Locked)
Marketing:- 9582 ( Locked)
Development:- 11000 (Locked)
Board Members:- 5000
Airdrop ans bounty:- 11000
Reserved:- 8356 (Emergency)
AMA MODERATOR: Question 4. Will YFIDAPP storage bring any benefits?
SIR ALEX: YFIDapp will allow lending and borrowing options of approved cryptocurrencies and stable coins. Participants can also leverage the inbuilt decentralized exchange protocol to swap assets securely and without incurring high transaction costs. YFIDapp will also provide insurance options that allow participants to fortify and reduce the risk level of their leveraged positions against undesirable market speculation.
Finally, YFIDapp offers users with interactive casual games that allow them to stake their holdings in lieu for higher returns
AMA MODERATOR: Question 5. How do you intend to prevent YFIDAPP price from dumping
SIR ALEX: We will have several use cases including decentralized gaming platform. Along with it we have planned whale club which only those users can join who will hold YFID. Overall it will prevent the dumping of YFID.
AMA MODERATOR: Question 6. What types of services will YFIDAPP support?
SIR ALEX: The YFIDapp platform is a scalable one offering participants with a variety of products, namely 1) lend, 2) borrow, 3) trade, 4) insurance, and 5) game. The combination of these products will help users enjoy risk-free liquidity and allow them to realize the true value of their collateralized cryptocurrency assets.
YFIDapp will also function as a reliable bridge enabling users to leverage liquidity to unlock opportunities within the ecosystem
AMA MODERATOR: Part 1 has ended. Thank You for sharing things about YFIDapp to let us know. To part 2, I will choose the 5 best questions from Twitter. Hope you’re ready?
SIR ALEX: Let’s do it
AMA MODERATOR: Twitter question From @semogaberkahXD
What is the Benefits and usecase of $YFID token? Also is there a $YFID Staking program to encourage investor to hold token for lon gterm? How does this mechanism work? And how do we participate in the staking plan?
SIR ALEX: At the heart of the YFIDapp ecosystem is the native utility token, YFID. Built using the ERC-20 token protocol, it arrives with a variety of functions, including:
1. Serving as the unit of gas to settle transactions across the network
2. Acting as a reliable medium of payment of fees, interest, dividends, and bonuses.
3. Providing voting rights to streamline governance in the YFIDapp platform
4. Rewarding validations for participating in the YFIDapp ecosystem.
Our platform offers premium staking services that provide a very rewarding experience for validators that take part in it. With the highest returns per day, standing at 1% per day which allows the validator to accrue earnings of around 30% per month and 365% per year, YFIDapp holds the record by a huge margin.
You can follow these steps to participate in staking:
https://yfidapp.medium.com/staking-on-yfidapp-a-rewarding-experience-c456e0d99303
AMA MODERATOR: Twitter question from @mylhe
Can you tell us some of your potential partners in helping grow your platform? What are the win- win benefits you have for them? Is your partnership with them consider to last?
SIR ALEX: Sure why not. We know that Strategic partnerships have long been a vital element of a business’s growth strategy. As far as our strategic partners are discussed then currently we have 3 partners
1. Capital Finance- Through this partnership, we hope to further raise awareness about DeFi worldwide and continue our shared goal of adoption with Crypto Academy Capital, where users can learn more on crypto trends and digital assets
2. AlphaTradeZone- With this collaboration, YFIDapp aims to educate crypto users about DeFi world and its products
3. Clicar Network- It is reputed media group that broadcasts all the trending news of the blockchain and crypto space.
But these are not the last one. In future we will have several other partners.
AMA MODERATOR: Twitter question from @ryuuuubtc12
Would you mention YFIDapp security measures? Because Security is really important and valued by users. How does your project protect users’ money?
SIR ALEX: We know safety and security is important and it must be on the way. To ensure security, We got our code audited from an independent smart contract auditing firm, BlockAudit. The report can be found on Glox announcement channel and website.
Link: https://cutt.ly/mhtKUO7
We took one more step to meet the high standard security criteria by locking our liquidity through unicrypt on Uniswap and locking marketing, development, team and advisor tokens on 24 October.
AMA MODERATOR: Twitter question from @YeTatooLeYen
🥰 I want to hold $YFID for future use in buying my wants and needs. Where is $YFID token currently listed, where can I buy it?
SIR ALEX: YFIDapp is currently listed on uniswap and alterdice
Alterdice:https://alterdice.com/trading/YFIDUSDT
You can easily buy from there
AMA MODERATOR: Last Question Part 2. Twitter question from @thuydiemnn
How do you describe YFIDapp in a single sentence?
SIR ALEX: Interesting question! YFIDapp is a global community network.
It is a revolutionary DeFi platform that offers borderless, open, and secure finance
AMA MODERATOR: Great. We are through with segment 2. Now let’s go to segment 3.
Segment 3: The chat will be opened for the community questions 🎉
Rules For Live Session
⚠️ Each user can ask maximum of three questions
⚠️Don’t Copy Question from others
⚠️Don’t Mention the Guest Username in your Questions
⚠️Adhere to the Rules, Otherwise you will Disqualify even if your Question Selected.
FOR COMPLETE AMA SESSION DETAILS. VISIT: https://t.me/cryptonationamagroup/20574
FOR MORE INFORMATION ABOUT THE PROJECT. VISIT THEIR COMMUNITY:
Website: https://yfidapp.finance/
Telegram Community: http://t.me/YFIDappOfficial
Twitter: https://twitter.com/YFIDAPP
AMA SESSION WAS HOSTED BY CRYPTO NATION. FOR MORE AMA/AIRDROP UPDATES. Visit:
CRYPTO NATION COMMUNITY: http://t.me/cryptonationamagroup
