Welcome to the YGF (Yearn Gold Finance) LIVE AMA with The Gem Hunters. We would like to kindly thank the team for sharing information on their new project with our community.
1. Ok, to get things rolling, can you give us a brief description of what YGF is?
Right, in a nutshell, YGF is an independent Defi product with a difference. Initially we will be offering a staking platform where we aim to bring fairness and equality to all, regardless of investment size. We also plan for YGF to be a community driven project with all major developments decided upon by the community. We will have some more news on this in the near future.
2. So who is the team behind Yearn Gold Finance and a little about your backgrounds?
We are a group of 4 people from different countries (2 from UK and 2 from Africa), each playing a crucial role for the benefit of the project. It goes without saying, we are defi-enthusiasts looking to make a difference in the space, especially with all the scams of late. We are hoping to be that breath of fresh air you have been waiting for. I [Nick] have been a businessman, owning and running businesses, for over 10 years, and more recently I was jointly responsible for the creation of another coin which listed successfully and has since done 20x. I left the project prior to launch to dedicate 100% of my time and energy to YGF and my team.
3. So Moving on can you give our community some information on the tokenomics and use case?
Certainly. The max supply is 50,000. This is split as follows:
· 20,000 - Presale. Unsold tokens will be 🔥🔥🔥🔥.
· 7000 - Marketing & development. This will be used to create awareness via our marketing team, and also for further progress on the YGF platform. Any proposed enhancements will be put to the community to vote on before implementing.
· 10,000 - Rewards placed into staking rewards pool.
· 10,000 - Locked liquidity for 1 year.
· 3,000 - Team tokens, 50% locked for 3 months.
The YGF token will initially be utilised for staking. In return, stakers will earn YGF from the rewards pool. We have plans for more use-cases of the YGF token. These ideas and plans will be put to the community.
4) Speaking of development, you've already built your platform. Can you tell us a little bit about it?
Sure. Our platform has been created from scratch with a sleek but simple appearance. It is designed with operability and user experience in mind. We have structured it in such a way that even the most novice user will have no issues staking their tokens. We will also be introducing infographics to make it all as seamless as possible.
5) Can you go into details on how investors can get started farming and how the rewards system works?
Good question. Obviously, I’m not able to go into too much detail right now, but I can tell you that there will be a minimum & a maximum that any single wallet can stake. We have structured the rewards in such a way so as to incentivise staking for longer periods and disincentivise un-staking after short periods of time. 100% of the Staking fees and penalties will be sent straight back to the rewards pool to be earned by the remaining holders.
6) Do you plan on carrying out smart contract audits and security checks?
We are more aware than ever of the need for secure contracts, removing vulnerabilities and ensuring bug-free code, and we have already made plans for the auditing of our contracts. We will publish all certificates as soon as the audits are completed, which I envisage to be in the very near future. We are legit and we are here to bring value to our investors. Ultimately, we want to give investors that feeling of safety & security that we have all been missing.
7. You decided to go fully public even though crypto can be quite a harsh place full of degenerates and trolls. What made you do that?
One of the main reasons was that the majority of the team has at some point, in one form or another, fallen victim to rugs or scams themselves. This spurred us all on to become public and totally transparent, good or bad, we are real. Who knows, hopefully we can be trend setters. lol… In all seriousness, the main thing to know is that we are who we say we are, not hiding behind fake profiles or cartoon images, and we are here to bring value to our investors.
Thankyou for answering our questions, it has been a pleasure to host you live at TGH. We look forward to following the progress of your team and YGF Network!