AMA Recap: YOP & MoonShotHunters

During our series of AMAs we joined the MoonShotHunters Community on the 17th of December, 2020. It was quite a lengthy discussion with a community of over 12,000. Recap below for those that missed out. In this Ask Me Anything session, the administrators of MoonShotHunters will be referred to as Host and our Founder, Atif Yaqub, will be referred to as Guest.

Host

Don’t worry you’re not banned. The channel has been muted for YOP AMA

Atif Yaqub welcome, let me know once you’re here

Guest

Thanks! I thought for a second it would be silent AMA!

Hey everyone. Thanks for having me.

Host

haha! Welcome hope you’re doing well

Guest

Doing great thanks hope you are well @MrMoonfinder

Host

Doing well myself

A great day in the markets, with bitcoin doing well

We hope ETH follows and then we look for new projects to invest in

Guest

Indeed. We are all enjoying the markets, but at the same time must stay focused on building.

Much work to be done!

Host

Brilliant

Let’s dive straight into it

Guest

Let’s go 🚀

Host

Can you tell us about YOP? How did it start, what does it do and any inspirations you had for the project?

Guest

Sure so I am Atif Yaqub — Founder of YOP. We are based in the UK and generally, YOP came about from my personal frustration of most products being geared toward technically capable users. So decided to create a more user-friendly environment but at the same time stay true to the crypto essence and innovate along the way.

YOP is a yield optimization platform & protocol. All-in-one yOptimization application that makes it easy for everyone to access DeFi. Giving you control, custody, insights and flexibility directly in one single application.

Host

Great, so can you give an example of what a user can do on your platform?

Guest

The 5 core products are; Access to DeFi markets, Swap tokens in the Dex, hold in the Wallet, access Market Data and a fully customizable dashboard at the centre of the app. So here customers can engage with all aspects of the market without having to leave the app unlike now, where the experience is fragmented having to go off-site. All this while maintaining a non-custodial service.

Host

Oh insane, in the third picture I see some charts

Are those charts of individual coins

or portfolio value?

and will it be implemented along with Uniswap

Guest

Both our Market Data products will be a more complete offering than the current independent service providers. Correct access to Uniswap liquidity and others via aggregation.

This is how we position YOP to be a complete offering. In essence, each product can be a great standalone.

Host

So better then current competitors? That’s something I would very much be interested in, but it’s a bold claim. When will this be ready?

Guest

We have a long journey ahead no doubt. Not something that will happen overnight and nor are we here for a quick speculative gain. We believe with our partners and network we can deliver the complete offering as we work through our roadmap and V0, V1 & V2, but the first version will still give you a flavour of where we are heading. So great product out of the door.

The first version is planned for launch Q1 2021 we are on track for around February bar no delays. This will be posted on our TGE in January.

Host

Great, sounds good. Can you tell me briefly about all the things you have mentioned so far what will be available at v0 launch?

Guest

So the 5 products will be there in V0, but we will improve them as we work through upgrades. So we launch with our core offering but build more features and customization into this. Those slides are from our working internal Alpha product. 😄

Host

Amazing, that sounds great

Host

Let’s move onto tokenomics

Can you tell me your raise structure so far, LGE in January

Guest

From a total of 88m tokens, we have allocated 10.6m for this round with a cap of $533k. We have opted for flat token price throughout the raise to create a level playing field from day one and no large holders, bar one which is the London Stock Exchange listed investment PLC who have opted for a 18-month lock. So this further reduces initial supply giving us very strong fundamentals from one.

Host

Wow, that is too insane to not speak more about, London’s stock exchange-listed?

Can you expand more on that and we can revisit tokenomics after

Guest

So early on in our raise, we were approached by Pires Investments Plc. We did plan to have an institutional investor later but this came early. With a 7–8 week process of due diligence and reviews of the tech we feel YOP is now in a very unique position, compared to other projects. Especially in an environment where there have been many shady projects come and go so fast.

Our team and partners are looking at a 3-year outlook not short term that so many projects fail chasing. 😃

https://finance.yahoo.com/news/pires-investment-proves-mainstream-value-124137728.html

Guest

You can read more about it in the article.

Host

Apart from monetary support, will they be supporting you through other means?

Yes for sure. There is a lot of easy money in this space. Our token sale is oversubscribed 3x so we refused a lot of venture firms and investors. It is important for us to have partners that support us beyond monetary. We want to tap into the experience of scaling a project and the large customer base from traditional financial markets.

Host

I absolutely think that is the way to go!

Much like the old method, with regular people giving much more value

Guest

Sometimes in the explosive crypto space it is easy to forget there is a big world out there and millions of customers who would happily use a product if they could. Unfortunately, most projects are not led by commercial leaders, more often by developers. Therefore the product translates to that. The few that have then tend to be heavily centralized and lose the essence of crypto.

Host

Well said⚡️⚡️

Let’s go back to tokenomics quickly before moving on

How much funds are you raising all together?

Guest

Fixed at $533k for us to deliver our first product and most value. We opted for a smaller raise now and then once we have proven ourselves we can easily raise more capital to scale growth. A small allocation from the $533k has been reserved for the crowd and we will announce details of that soon as ready.

Guest

Token Generation is expected in January.

Host

Great

And can you tell us how much will be added to initial liquidity?

Guest
With a starting cap of only $383k we will add around $150k total liquidity, split in YOP/ETH. We expect some of our investors to also participate in offering liquidity so this can grow.

Host

Thanks, and is there anything else you would like to speak about the tokenomics before we move on?

Guest

There is a paper coming soon from our team giving more insights into the workings of $YOP with the yProtocol so look out for that. Our token is net deflationary and we have some exciting products to come with that.

Host

Great

Host

Moving on

Do you have any governance features?

Guest

Yes, that it also been compiled and in paper. $YOP will allow customers to put forward proposals and actively participate in the growth of the platform. This will go along with our staking and reward function too. Not to forget a 24/7 live chat in the app so the community can mobilize anytime which will be tiered through token holding.

Host

Will the 24/7 live chat be a replacement instead of a TG chat?

Guest

No — TG is open to all. This will be for $YOP customers only. So they can co-exist.

Host

Makes sense!

How will governance be decided, through YOP holdings?

Guest

There are some other ideas along that, but I should probably not say too much yet. 😉

Yes through holding and staking. We have modelled it through time too — so you can’t pile in the last minute. If a customer has staked for longer they are given a higher reward and therefore can put forward more proposals.

Host

This answers my next question of how do you stop malicious actors 😂👍

Great, good to hear you’re thinking ahead

Guest

Thinking ahead. 😄

Host

Let’s move onto security

Will your contracts be audited beforehand?

Guest

Yes — customer security should always be first, but in a non-custodial environment, it becomes even more important that what we put forward is audited and safe. Having said that there will be a different level of product offering low to higher risk. So the novice user may not want to participate in chasing high APY. With clear labels, informative UI and secure working space, the customer is as secure as we can do it.

Host

Just to ask in case you missed, will there be an audit or alternatively will the dev team be a known professional team?

Guest

Audit for sure.

Host

Good to hear, and agreed customer security is number 1 in this space

Guest

Deploying unaudited contracts is dangerous and to be honest, not fair on the new users especially when you have a big customer base.

Host

Completely agree

Guest

If YOP has 100k active users and we deploy a contract obviously tokens will get deposited and Total Value Locked will grow. So it’s a responsibility from the deployer too, I guess.

You can’t only blame the customer for entering the unsafe environment.

Host
Agreed completely there

This about wraps up all my questions for today

Is there anything you would like to say before we open up?

Guest

Thanks, great questions. We look forward to staying engaged with your community. Any questions, feedback and comments are always welcome. We are an open-minded project and want to provide maximum value to the community.

For those that are from the UK might enjoy this….

🚀 Everyone loved the blooper video last week. So here is another video by popular demand. Gimme YOP! 🚀

Host

hahahaha

So what we will do next is open up the floor for any public questions

Then Il mute so you can answer in peace

Guest

Ok sure.

Host

How would you like to split the prize pool, we normally do 4 members

Guest

That’s fine.

Host

Great, we are opening up the channel for public questions now. As normal no spam, slow mode of 10 seconds

Question:
Can you explain more about the dynamic portfolio management with automated IL (impermanent loss) protection provided by YOP network? How does it work? What can we expect more about this impermanent loss protection feature in your platform?

Guest Answers

It should say exactly what it does on the box here. When the market suddenly moves you can create alerts or set automated parameters to withdraw funds from a pool. In addition to this, we have an Emergency Button. This will allow you to also front run TXs going out so you can choose to have GAS set higher to get out faster.

Question

Currently, YOP tokens only use the Ethereum Blockchain network which in our opinion has quite high scalability problems, have you considered integrating “other ways’’ or networks other than Ethereum in the future? like the Polkadot, TRON or BEP-20 network?

Guest Answers

If you look at our roadmap we have 2 core options and additional 7 networks to work with. YOP is not being built for single network support so we will have cross-chain integration. Our operating preference is still Ethereum and we hope ETH2 docking happens on schedule to help everyone scale faster. Something we will keep reviewing.

Question

We are not just a DeFi wallet or farming token. Once you grasp the true vision of YOP that should give you comfort where we are heading. Our team is public and our partners are also very vocal about supporting the YOP. In addition to that our experience in the business world and technical capabilities gives us the optimal balance to deliver.

Guest Answers

We are not just a DeFi wallet or farming token. Once you grasp the true vision of YOP that should give you comfort where we are heading. Our team is public and our partners are also very vocal about supporting the YOP. In addition to that, our experience in the business world and technical capabilities give us the optimal balance to deliver.

Question

What are the benefits of holding and staking $YOP tokens? And What plans do you have to help drive demand and scarcity for YOP tokens?

Guest Answers

As mentioned earlier we have staking rewards in the app, reward pools, auto switch from other tokens to $YOP and net deflationary model. Add in the token buyback programme and burn we are very confident $YOP has compelling economics. (We have a dedicated economist for that)

Question

Q. Partnership and community are the key to the success of projects, can you tell me how #YOP Finance will expand the partnership and which markets will #Yop Finance focus on?

Guest Answers

Definitely. Our vast network in the crypto space and traditional financial markets can be leveraged to create partnerships and valuable community growth. It is important we build meaningful bridges for long term growth.

Question

I am newbie in crypto and blockchain so how will YOP FINANCE team target and educate people who don’t know about blockchain and crypto Yop Finance ?

Guest Answers

This is very important to us. As we are positioned between crypto and the traditional financial markets. So we will cater to the novice and advanced user alike. Welcome to YOP.

Question

The name “YOP Finance “ is interesting…. ☺️. What inspired this name?

Guest Answers

Wanted something short and catchy. YOP works really well for our product abbreviation too. Came up with the name while discussing it with my friend, in the middle of the night!

Question

Hi Mr. @AtifYaqub 👋 YOP Finance is strategically supported by the British community, but are they planning to expand their user community to other continents? Are they doing it right now?

Guest Answers

Yes, our initial growth is English language-based, but if you look on our roadmap we have plans to add other languages.

Host

Thanks for answering so many questions Atif

Guest Answers

Welcome. Great questions and always nice to have the community engaged.

Host

Sounds good

End of AMA.

YOP Socials

Twitter: http://twitter.com/@yopfi

Telegram: https://t.me/yopfi

Telegram Announcements: https://t.me/yopnews

LinkedIn: https://www.linkedin.com/company/yopfi

Medium Blog: https://yopfi.medium.com/

Whitepaper: https://yop.finance/media/

YOP — Yield Optimisation Protocol