cryptodaily.io hosts an AMA with Yield Booster Finance. #YieldBoosterFinance #Avalanche #AvaxDaily #AMA
Cryptodaily Admin: Good day everyone! Welcome back to another AMA with AvaxDaily š Iām your host Daley and today Iām joined by DeFiDev3 ā Founder at Yield Booster Finance
Hello DeFiDev3! How are you feeling today?
DeFiDev3: Hey very good
Cryptodaily Admin: Are you ready to start the AMA? or do you want to say something first to the audience?
DeFiDev3: Yes, letās start it š Thank you everyone for attending ā¤ļø
Cryptodaily Admin: They love AMAs haha. In fact, me too! Itās a good way to get to know a project!
Q1: Could you tell us a little bit about yourself and your team? What are your past experiences? Are you all doxed?
DeFiDev3: Of course. I have KYCed myself with the AVAX Daily team. My past experiences are mostly as a defi user just like everyone else. But roughly 2,3 months ago I decided to launch my own protocol and started my journey to where I am today!
Cryptodaily Admin: So you must have a developer background yeah? How do you build Yield Booster Finance?
DeFiDev3: Yes, in real life I used to work as an IT specialist. But Iām 100% devoted to crypto/defi now and I am doing that full time!
Cryptodaily Admin: Sounds good! Are you solo-ing this or are there other partners as well?
DeFiDev3: I have hired two marketing experts and one external developer that helps me out from time to time. But most of the work I am doing myself!
Q2: What is Yield Booster Finance all about? What are you trying to achieve?
DeFiDev3: With https://Yieldbooster.Finance we want to be liquidity driver protocol. That means once a token or an LP pair gets listed on our protocol, it will receive a big liquidity inflow. Our long-term goal is that other protocols will start bribing our $Yieldboost Tokenholder in order to Vote for their Token/LP Pair.
Cryptodaily Admin: Letās talk about where this ābig liquidity inflowā is coming from:
Q3: Please walk us through your āBoosted Farmsā and āBoosted Poolsā. There is also a āxYieldbooster Lockā, what is it and when is it available?
DeFiDev3: Our boosted farms and boosted pools are the core product of our protocol. Our investor can decide which Token or LP Pair will get listed and how much extra boosted % APR it should receive. We have an innovative APR Boost Tier system which each comes with increased deposit fees but also with massively boosted % APRās
Default boost = 0% deposit fee
Medium Boost = 1% deposit fee
Good Boost = 4% deposit fee
High boost = 10% deposit fee
Degen Boost = 25% deposit fee
The boost tier will also be decided by our investors! Our xYieldbooster Lock is not ready yet. But basically when people lock their Yieldboost Token they will receive additional rewards while farming .
Cryptodaily Admin: So is there a āfloorā APR for these tiers? Or is it entirely up to the investors to decide how much APR to be given?
DeFiDev3: Itās entirely up to the Investor, they will choose the APR. There is no such thing as a floor APR, since the APR always depends on the total value locked (TVL).
Q4: Letās dive into your tokens $YIELDBOOST. Can you share with us your tokenomics? And what are some of its use cases?
DeFiDev3: Our tokenomics: The initial supply is 100 Token.
We have 5% TAX:
5% of every transaction will be converted into AVAX-Yieldbooster LP. (Auto Liquidity)
IDO Price: 850$ per Token (10 AVAX for 1 Token)
IDO MarketCap: 80k MarketCap
TraderJoe listing Price: 935$ per Token (11,1 AVAX for 1 Token)
Q5: Letās talk security, are you audited by any third party?
DeFiDev3: We have forked paladin audited contracts and dappās and have made only a few changes, so yes our protocol is audited and 100% safu!
Cryptodaily Admin: But eventually, you will have to send your own contract to audit firms I guess. As long as there are changes, I think itās necessary
DeFiDev3: Once we make changes we will do an extra audit for that!
Q6: What can we expect from Yield Booster Finance in Q2, 2022?
DeFiDev3: Our plans at http://yieldbooster.finance are to implement the locking function so that people can lock their Yieldboost Token to receive extra rewards in form of USDC or other token when they are farming.
Additionally, we are aiming that we have increased our significance in the ecosystem so that other protocols will be interested in getting listed on our protocols so they start bribing our investors to vote for them.
To sum up: Lock function and bribing layer
Cryptodaily Admin: Iāve been reading the term ābribeā so much that now I have to ask š does ābribingā mean giving incentives to the investors such as giveaways, airdrops,ā¦ so the investors will vote for them? Will the devs be bribed too?
DeFiDev3: Yes, so bribing means that other protocols are giving out Token to our Yieldbooster Holder so they vote for their token to be listed on our protocol. Only our investors will get bribes, not the devs!
Q7: I can see youāre doing a giveaway at the moment, please walk us through and are there any other exciting news you want to share?
DeFiDev3: Yes we have lots of things planned including a corporation with the biggest names in the Avax twitter space but also Youtube videos about us are being made.
Cryptodaily Admin: And also! Youāre having an IDO today if Iām not mistaken. Is it at 3PM UTC?
DeFiDev3: Yes our IDO starts in 3 Hours over here: https://dx.app/app/v3/defipresale?saleID=42&chain=Avalanche
Q8: Where can we find out more about Yield Booster Finance?
DeFiDev3: We recommend everyone to take a look at it and make their own decision if they are interested in it. But I already have a lot of requests about it. So if you wanna join, be on time š If you wanna know more about us check out our docs:
https://gitbook.yieldbooster.finance/
And join our Telegram to ask questions! :
https://t.me/yieldboosterfinance
Cryptodaily Admin: Perfect!
Cryptodaily Admin: With this we are now at the end of our AMA session with Yield Booster Finance š„š„š„
Time for wrapping up, any last words you would like to say to our community?
DeFiDev3: Thank you very much for hosting us ā¤ļø Congrats to everyone that will join the IDO ā You wonāt regret it ā¤ļø Please join our Telegram: https://t.me/yieldboosterfinance
Cryptodaily Admin: Thank you DeFiDev3 for being here and talking about Yield Booster Finance! All very best for you and the IDO as well man! Take care
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