yield.app AMA Recap

yield.app AMA Recap

CryptoDiffer team

Hello, everyone!😁

We are glad to meet here 

Tim Frost, CEO at yield.app

Jan Strandberg, Marketing Lead at yield.app

CEO at yield.app, Tim Frost

Hello guys, great to be here representing YIELD.app

Marketing Lead at yield.app, Jan Strandberg

Hi everybody at CryptoDiffer community!

CryptoDiffer team

Q1: Can you introduce yourself to our community?

CEO at yield.app, Tim Frost

My name is Tim Frost and I am CEO of YIELD

I have a rich Fintech, marketing, business development, and operations background. YIELD.app is my 3rd digital bank and I have been a key figure with many successful fintech and blockchain companies. Specializing in early-stage growth, operations, and development. I was part of the founding Wirex team and supported operations, business development, and marketing for the first 18 months. I also joined and helped take EQIBank to market a global digital challenger bank with an average client AUM of $250,000. I have helped accelerate early-stage blockchain startups QTUM, NEO, Paxful, Polymath, Selfkey, Everex, and many others.

Marketing Lead at yield.app, Jan Strandberg

Being a growth hacker, digital nomad, and creative thinker, I oversee marketing for YIELD. I’m very data driven and have extensive experience in branding, PR, and SEO. As the head of marketing at Paxful, I helped the company scale up from 50k users to more than 4.5M, and from 100k weekly revenue to over 45M. I also have many successful ventures in the gambling industry, and own a marketing boutique agency profitcommerce.io.

Super proud to be one of the founders here at YIELD

CryptoDiffer team

Q2: Can you briefly tell us what is yield.app in 3-5 sentences?

CEO at yield.app, Tim Frost

YIELD is a licensed and regulated FinTech company that enables anyone to invest in decentralized finance with the touch of a button! Thanks to our intuitive app and web platform, users around the world can start earning returns from DeFi products without having to go through a lengthy, complex and often costly learning process. Our users earn up to 20% APY through our DeFi strategies on the backend.

CryptoDiffer team

Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

CEO at yield.app, Tim Frost

We have made a lot of recent updates and announcements. After some extensive consultation we have updated the YLD token utility. You can review the updated token model here https://medium.com/@yieldapp/yield-launching-native-yld-token-5a48f2bb48ac

A few key updates:

-We are going live for our main round sale December 7th through Trust Swap https://trustswap.medium.com/yield-app-announces-yld-token-offering-on-trustswap-launchpad-dec-7th-2020-at-9am-pst-e4e1b52c781

-We will launch YLD token December 14th on Uniswap and a tier 1 exchange.

-The main round at $.11 is sold out now and only available through Trust Swap. Only a small allocation of the presale remaining.

-We are doing a small convertible note + YLD bonus through BnkToTheFuture and will close soon as its oversubscribed. https://app.bnktothefuture.com/pitches/yield-app

-YIELD.app will be live and first customers in December. A definitive date is coming soon.

CryptoDiffer team

Awesome, a lot of updates to come out!

Thank you for great answers!

I think it is time to start community questions round!

Cryptodiffer Community

I have 2 important questions. How does YIELD securely store users’ digital assets? Is there an insurance fund to protect its users against hacks and losses?

COO & CFO at yield.app, Justin Wright

We use BitGo insured wallets and custody. We run a 24/7 portfolio management system that analyzes all investments on a rating scale. We have a partner Zokyo and other smart contract auditing firms that have approved audits before anything we invest in. We are building our a sophisticated portfolio management system (POMS) to safe guard our client funds. 

We also have a very robust internal automated decision tool that charts any opportunity out forward by the portfolio team in the sandbox to progress it through whitelisting, auto control and allocation up to final risk committee authorisation prior to deployment. this is all supported by audit trails and risk ratings designed in house

Cryptodiffer Community

Where does the start-up capital and money to launch the Yiled project come from? When is the public sale planned and what will be its format?

COO & CFO at yield.app, Justin Wright

1️⃣ We are going live for our main round sale December 7th through Trust Swap https://trustswap.medium.com/yield-app-announces-yld-token-offering-on-trustswap-launchpad-dec-7th-2020-at-9am-pst-e4e1b52c781

2️⃣We will launch YLD token December 14th on Uniswap and a tier 1 exchange.

3️⃣We are doing a small convertible note + YLD bonus through BnkToTheFuture and will close soon as its oversubscribed. https://app.bnktothefuture.com/pitches/yield-app

Cryptodiffer Community

Investors confidence in a project is a tangible product of the project.. its achievements.. a good team.. a strong partner. How does YieldApp bring together all of the these? How do you make users believe that Yield App is a high-quality, and a long-term project?

Marketing Lead at yield.app, Jan Strandberg

We are building a digital bank where people can securely earn interest through DeFi and bank through stablecoins. To build a mobile bank with card programs, multiple currencies supported, and global payment rails and correspondents. 

Yield.App’ was born from a vision to provide our customers with a high yielding deposit account coupled with safe custody of your assets! 🔒 

We deliver this through a simple platform model that mirrors traditional main street and wall street-managed investment fund products. We are building a bridge 🌉 into the Decentralized Finance (DeFi) ecosystem because we recognize that even for crypto natives, the time, cost, effort, and risk required to navigate and understand the underlying complexities inherent to this asset class can be overwhelming. 

We’re making it our mission to demystify this for the benefit of everyone.

At the same time want to offer normal banking services including a credit card.

Cryptodiffer Community

Why do you introduce YLD Insurance Fund for security of funds?What are benefits of it other than security?

COO & CFO at yield.app, Justin Wright

As we mentioned earlier, we work with Bitgo for customer wallets that provide an initial insurance layer, we are also contributing a portion of APY to a segregated insurance wallet, this allocation will be conducted weekly, is on-chain and will be audited monthly and disclosed in our monthly fund performance report that includes the YLD treasury rebalancing metrics as well. We are in discussion with a number of other insuretech and crypto insurance providers to bring innovation around this hybrid tier 3 tertiary capital reserve, this will include reinsurance and FDIC styled protections as we grow in the next few months. You can read more about the token here: https://medium.com/@yieldapp/yield-launching-native-yld-token-5a48f2bb48ac

Cryptodiffer Community

How investors can boost their yield APY from 12% to 20%?What is the basis for APY rates?

CEO at yield.app, Tim Frost

This boost from 12-20% is supported by YLD token. Bonuses are paid in YLD and YIELD uses 50% of profits to rebuy YLD from the market.

Cryptodiffer Community

What can YIELD offer to solve the scaling problem? And how does YIELD deal with the threat of centralization?

CEO at yield.app, Tim Frost

We offer batched transactions, so we can aggregate 1000+ user investments into 1 transaction to limit gas fees.

Cryptodiffer Community

I’ve seen many projects offering their farming goodies, without clear use cases. How can YIELD stand out from these projects? What is its real use case and why would it be a long term investment?

COO & CFO at yield.app, Justin Wright

We solve this for our users by eliminating all gas costs. We handle everything on our back end, making it a simple one-step process to enter into defi investments. we think this is how we solve the scalability issue.

Cryptodiffer Community

Can you explain how Yield Finance reduce the complex of interact with Defi? How much efficent is comparision with traditional finance projects?

Marketing Lead at yield.app, Jan Strandberg

DeFi is the crypto equivalent of the toothpaste being out of the tube, we are seeing multiple new iterations of traditional financial products being replicated in the space, and we believe we are only at the start of a multi-year journey. I have traded through and experienced multiple bull and bear markets across many different asset classes, and each time they fade, they come back stronger, safer, and more sophisticated. YIELD.APP will be at the forefront of these changes and trends with our customers’ interest in front and center.

Cryptodiffer Community

Your card program will launch end of Q1 2021. In which regions will it be available? What are the requirements for us to obtain a YIELD card?

COO & CFO at yield.app, Justin Wright

We are working on card programs now. One in Asia and one in Europe. More details once things are finalized

Cryptodiffer Community

Q1 – How will Yeild build a thriving community that truly cares about and supports the project for a long time, rather than just gaining temporary benefits?

Q2 – Is there any plan to better connect with the community? Just like the social media type system, where can people share ideas and suggestions? Because we know the power of the community to easily create famous projects?

COO & CFO at yield.app, Justin Wright

The EARLY ADOPTER PROGRAM was created to provide the best perks to our pioneer users! All you need to do is to stay tuned on our social media channels and to try out our product when we launch, and you get first dibs on what YIELD has to offer!

We actually hope to give these guys the best treatment as they make up our first batch of community members. We want to always keep them in the loop with what’s happening, maybe try out some products before they come out and be more of an extension to the YIELD FAMILY! 

 https://www.yield.app/early-adopter/campaign

We also hope to get as many community drivers and people to help us drive the community forward!

Cryptodiffer Community

Q: Some DeFi platforms require you to trade assets and pay fees before you even start investing. With Yield this is necessary? How do you improve this model and offer me the highest APY in the market?

Q: What are the unique benefits of the $YLD utility token? How high will the interest rate be using your native token? Will my APY increase significantly if I use $YLD instead of other tokens?

COO & CFO at yield.app, Justin Wright

We guarantee a minimum APY of 10% and share any upside above this with our customers. We aim for the best returns coupled with the lowest risk for consistent, low volatility performance 

this 10% APY doesnt include our token gains so if the token goes up it is just a pure + 

We do not participate in risky DeFi opportunities and we take diversified positions. We are building a long term sustainable platform that anyone can safely leave money on our platform and earn solid yields.

Cryptodiffer Community

What do you expect from your partner with BnkToTheFuture? How will this partnership help build trust in the crypto space?

Marketing Lead at yield.app, Jan Strandberg

Almost every big Crypto company has raised money through them and also gotten a very strong relationship with the rest of the crypto community thanks to them. They have a lot of good advisories and also they have been in this space for a while. 

Getting into their platform was a big milestone already 💥💥

Cryptodiffer Community

-I read your article on cointelegraph where you stated Defi is less about the insane returns it offers to yield farmer, but more about the democratization of finance. How would you explain this view, especially when majority are buying into the DeFi hype because of the huge gains that abound?

-Groundbreaking startups were born from economic downturn. What do you believe are the opportunities Defi present in this current economic holocaust?

COO & CFO at yield.app, Justin Wright

We run yield.app as a managed fund which we allow people to invest into sophisticated DeFi yield farming strategies for as little as $100. We do this because we batch transactions. This means we manage your funds on a database and we deploy funds into a veriety of DeFi protocols. So your $100 may be in 20 DeFi investments.

CEO at yield.app, Tim Frost

We are now focused on these solid and constant returns generated by DeFi, however we are in position to diversify as DeFi ultimately will shift and normalize. Yield Farming as is will not last forever, however the underlying infrastructure we see as a foundation for the next economy. We are building a layer in this ecosystem.

Cryptodiffer Community

What are the requirements for users to qualify for the Early Adopter Program of Yield? Is there a maximum number of participants allowed? Is there still a chance to participate?

COO & CFO at yield.app, Justin Wright

This is only open for the 3000 successful sign ups, it’ll run until all slots are filled so don’t miss out!

Cryptodiffer Community

Why did you choose the DuckDao community as your strategic partner? Which side of cooperation do you like best?

Marketing Lead at yield.app, Jan Strandberg

They have a very vibrant community with lots of new people to crypto. We felt partnering with them made a lot of sense community and partnership wise. We hope to get more communities like them onboarded in the future

Cryptodiffer Community

When will the world stop being afraid to use DeFi? What is YIELD doing for the mass adoption of its technology?

COO & CFO at yield.app, Justin Wright

By offering a simplified and secure DeFi experience where users can earn high returns on insured investment strategies using their preferred currency, we hope to encourage everyone to become interested in decentralized finance. We also seek to raise crypto awareness through informative articles and our interaction with the community.

We recommend to check out our blog. https://www.yield.app/blog where you can find a lot of useful information about DEFI. we publish weekly articles and useful tips about defi 

We are doing AMA’s now everyday and the marketing team is working hard on materials to help people better understand our mission.

Cryptodiffer Community

What are the main differences between the YIELD and other DeFi? Why is YIELD better?

COO & CFO at yield.app, Justin Wright

There are a lot of “”DeFi for everyone”” projects. I would put us apart because of our team. Our team has built many successful fintech companies in and outside of crypto. Our long term target market is main stream users who want to earn high yields. These yields will be powered by DeFi. 

We are building in-house technology solutions and employing industry leading experts in their field such as data security consultants which are supported by our various oversight, enterprise and risk management committees and frameworks themselves adopted form traditional fund and capital markets  best practise 

we are targeting a global audience from day 1, we are already working with and continuing to build out alliances with other professional actors in the DeFi space. Some of these are technology led, all of them are knowledge driven with the aim of constant improvement and to pass the benefits back to our customer’s 

I would say DeFi is part of financial evolution, but its complicated and the barrier to entry is high. We aim to both educate our community but also normal people about defi. We try to produce content for every day users, and we have a great blog already started https://www.yield.app/blog. 

For us the community is also super important and we take all the feedback we get from the community with a high priority, so we hope to see you more on @yieldapp ☺️

Cryptodiffer Community

Most of users are still not aware with Blockchain & its related projects So,How  platform create awareness about their project with NON-CRYPTO users too?

Marketing Lead at yield.app, Jan Strandberg

We hope to encourage anyone, including mainstream investors, to become interested and start investing in Crypto, by offering a simplified DeFi experience through a mobile app, and allowing users to add and withdraw funds using their bank accounts, debit cards or crypto wallets.

Cryptodiffer Community

Regarding regulations.. Has YIELD already acquired a banking license? Are you actually a fully regulated company?

CEO at yield.app, Tim Frost

Yes we have an offshore banking and fund management license. From launch in December we will be licensed and regulated.

COO & CFO at yield.app, Justin Wright

Thanks for having us here on your group! We hope to see you on December 7th and 14th when we have the YLD tokens and the platform available! See you on yield.app!

Last plug on how you can get your YLD tokens early: https://trustswap.medium.com/e4e1b52c781

CEO at yield.app, Tim Frost

Visit us and join our community. Thanks for having us!

Cryptodiffer TEAM

Thank you for your time! Thank you everyone who took part. Let’s finish the AMA!

Spread the love
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
CryptoDiffer Admin
query2212@gmail.com

Leave a Reply

Your email address will not be published.