Welcome to the YLAND.FINANCE LIVE AMA with The Gem Hunters. We would like to thank the team for sharing information on the project with our community.
Q1) To get everyone on the same page, can you tell us what Yearn Land is all about?
Yearn Land is a one-stop shop for all your DeFi needs this can be seen in the different product line being deployed by the YeearnLand team. Yearn Land also serves an Automated Market Maker (AMM) and a DeFi yield aggregator for the lending platforms for maximum yield during contract engagement. So for people to understand better, it's a platform where our token holders can do processes like staking and farming to get rewards for that.
The yearn land ecosystem is a suite of products that runs on Ethereum and helps the average user to automate yield farming and maximize their returns on their crypto capital. At this moment only staking and farming are available, but we are not stopping here as we aim to get the whole ecosystem working. everyone can keep an eye on our roadmap for other product launch coming.
Q2) So moving on who is the team behind Yearn Land and what are their background's?
We are a group of 5 people from different places - Switzerland, Russia and Poland with each person playing a very important role for the attainment of the project goals. We are some defi-enthusiasts looking to build something trustable and engaging, something everyone can use to have the best experience in DeFi space. We draw on the core values of fair-distribution, open-involvement, and decentralization. The team is anon which was decided upon for the best interest of the project and cryptocurrency anonimity.
Q3) Why did Yearn Land decide to improve upon the old Yearn over improving other protocol's which are already far superior?
Despite the fact YFI was not the start of DeFi, it has had the most DeFi users in a short period of time. Although Yearn started some time ago when many people didn't even know what DeFi, staking or farming are but its various products has made it to be the face of DeFi yields. Being widely known due to its array of products, YearnLand has decided to improve on this and integrate some more products. yLand will integrate some other functions which are currently nor available in YFI, we will make a detailed announcement on these products once everything is set for its integration. We are giving everyone the possibility to enjoy the early days of a project like this with various DeFi tools for maximum yield aggregation. Other DeFi can be superior in different aspects, but for maximum yield and aggregation, YFI has shown to have a good userbase and we are drawing on this.
Q4) Yearn Land focuses on DyDx, Aave and Compound, Why were these 3 chosen the many other options?
DeFi was brought to limelight by Compound and also we choose these three because those 3 projects were pretty original when DeFi is traced, we like them very much and we would like to make our communities to interact better. This also can be drawn from your previous questions about superiority, we considered this aspect of DeFi in this sector.
Q5) YFarm, YVault and YGovernance are similar feature's to other project's but what is YZap, YCover and YLand Engine?
These are some of the improvements we're making from the old Yearn. yZap will be a swaping tool, like a bridge between our token and Uniswap, to make interaction with DEX simpler. Via yZap, anyone can easily swap their tokens without passing through Uniswap interface. yCover is inspired by the Yearn's "Cover". We just thought that is a feature that can't be missed. Anyway, it's on the table for our next brainstorm meeting for new proposals to make it even better. yLand Engine is the name of the whole ecosystem that include every other yLand products together. This is the park for all of Yearn Land products.
Q6) Tell us a bit about how the goals on the roadmap have come along and if there have been any Edits to the original plan?
So far we have been on track with the goals of the project there hasn't been any edits. We managed to keep up really nice with every point in our roadmap until now, and we are working hard to keep it this way. Nothing has changed from the roadmap. So all eyes should be on our project roadmap and all things being equal, we tend to keep it this way but with innovations, I will like to hint that we might be making some changes every now and then to add new stuffs that's exciting to DeFi enthusiast. Other than adding new product lines, we're strictly following the roadmap.
Q7) What will YLand do to attract Investor's from other Yield project's including yet to be launched project's in the future?
The biggest problem in the Defi/Yield Farming world right now is the abundance of scams, exits and rug pulls. We want to make this project exit-proof to protect our investors.
Some things people should know about our actions regarding this aspect:
* because the hard cap wasn't reached, we burned ~ 75% of tokens to keep the same tokenomics as stated in the beginning.
* we locked the liquidity pool for 1 year.
* most of the services and marketing partnerships were paid with funds from presale, not with tokens, because we didn't want any selling pressure in price from our collaborators.
* we locked a part of tokens in a staking pool and another part in the farming pool.
* we plan to lock team's token in the near future.
* we plan to lock development tokens in a way that they will unlock gradually.
And as we've seen there is so much value placed on audit, YearnLand will be getting audit for our contracts in the shortest timeframe
Q8) Where would you like to see YLand in a year from now and what are your long-term goals?
In a year from now, yLand would be able to unleash if not all, a greater percentage of its roadmap and project development goals. This means that yLand engine, Vault and other faetures should have been deployed before a year from now. This only means more user base to yield farming as yLand stands as a yield farm aggregator. New products will also be integrated to better suit the needs of DeFi users. This I will say is unending because as needs arises, yLand adjusts to give users a great experience. I will also like to highlight that within this timeframe, new DeFi projects can leverage on yLand tech and products to build something great for DeFi enthusiasts.
Yearn Land has many products being deployed, this can always be improved on by other projects.
Q9) Is there any news or Information the Team would like to highlight or bring extra attention too before we answer some Community Questions?
Yesterday was deployed farming contract and we are making the final edits to the UI. At 7PM UTC farming will and there will be distributed 500 yLand (over 150 ETH at current price) over the next 60 days. The farming pool accepts yLAND-ETH liquidity tokens and distribute 8.33 yLand/day to all farmers.
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We would like to thank the team for attending and sharing some insights on YLAND with our community.