Thanks a lot for actively participating in the Yield AMA held on 9th December 2020 at the Game of Bitcoins Channel. We really appreciate all your support. This post is a recap of the entire session held with Yield

We have with us Tim Frost, Justin Wright and Jan Strandberg

Jan - 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.

Tim - 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.

Q1. Can you please introduce us to YIELD? Who was it made for and what problems does the product aim to solve?

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. 🔮

YIELD is being developed for 2 main reasons. To build a digital bank where anyone can earn interest bearing account that is powered through Decentralized Finance. The other main area is to build a platform that is secure, insured, and we handle the heavy lifting for those who want to invest in DeFi.

Q2. To follow up, you mentioned that YIELD aims to provide a similar experience to traditional digital banking. What does that look like and how will you make this possible in the world of crypto?

What sets YIELD apart is that we are a regulated licensed bank 🏦 managed by a team with a proven track record in FinTech. That said, we are well-prepared to offer transparent governance through our YLD token. 💪 

Our goal is to go beyond DeFi and provide a more rewarding digital banking experience, where people around the world can easily earn interest on any currency and spend their earnings using our physical debit card 💳, without ever having to think about crypto.👌

One major area is our team. We have built very successful companies and financial institutions before. The other is our approach. We are licensed, insured, and are building a platform to offer clients a secure place to allow their money to grow. Unlike many crypto companies which are anonymous or not building companies that are compliant from day 1.

We plan to have Fiat on ramps and off ramps on Q1 and a card program running in the end of Q2

We also love educating people and we have very vibrant and open community. Recommend to read some of our blog articles if your new to DeFi https://www.yield.app/blogposts

Q3.Sounds like a good product! But how are you prepared when it comes to fraud protection and insurance?

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 on per week basis, it is on-chain and will be audited monthly, disclosed in our monthly fund performance report that includes the YLD treasury rebalancing metrics as well.

We are in discussions with several other InsureTech and crypto insurance providers to bring innovation around the hybrid tier 3 tertiary capital reserve, it will include reinsurance and FDIC styled protections as we grow.

Security is one of our most valued proposals

Q4. Please elaborate more on the YLD token. When will it be generated and what do we get from having it ASAP?

Our token generation event is on the 14th next Monday and we just had a private and public sale through trustswap, our initial cap was 1.2 million but we OVERSUBSCRIBED 3x. We will also be listed on a Tier 1 exchange on Monday and on a DEX. 

With YLD, users can boost their APY, earn interest on their tokens, and support our ecosystem.

The YLD token is a rewards token that allows you to Boost your APY. You can review all about YLD here. https://yieldapp.medium.com/yield-launching-native-yld-token-5a48f2bb48ac

Q5. We definitely look forward to getting some tokens! Where's YIELD at now? How can the community help and what direction are we going in the next few years?

YIELD.app has already successfully acquired an off-shore banking license to support our launch. Typically it takes time to reach multiple jurisdictional regulatory approvals. We are setting out our intentions from the start and will continue to add licenses as we go for all of our activities. Our long-term vision is to build a bank, and we have already acquired licenses for that. We have also a Credit and debit card planned thanks to our strong relationships with different regulators. The main goal is to get our product launched. 🙏

We are targeting a global audience from day one, 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 customers.

SE market will be our leading market

Q6. What protocols does Yield use to get performance? Is there a possibility of an increase in APY when integrating other protocols? Or will it always remain at 12%?

Our first fund will be $ neutral and relatively vanilla as we complete the build-out of our portfolio management system. Going forward, our strategies will cover many areas as we grow, these include dynamic hedging against impermanent loss (already in Beta), multi asset-backed farming and building our own vaults, automated funding rate arbitrage (also in Beta) etc. Depending on the complexity and associated risk, we will offer different funds and relative returns subject to the sophistication of the users and the associated risk, we intend to add these quarterly. We are not targeting professional DeFi traders out of the gates, we are opening the asset class for mass-market adoption, to do this, we need to institutionalize it first and then demystify it.... we need to build trust and scale and operate on a transparent basis. YIELD.app os CeFI on DeFI

and as explained before, you can boost your APY to 20% by owning our own tokens. 🙏

WE welcome all micro transactions users to use us. This is something that other DeFi companies don't do

We believe that our 12% APY will be sustainable in the long run due to these reasons, notwithstanding the inherent risk premium ascribed to cryptocurrency assets against a backdrop of perpetually low interest rates since the global financial crises, central bank fiscal loosening policies before and during the COVID-19 pandemic, and the dearth of high Income, low risk alternative assets classes available to non-sophisticated investors.

Q7. The YLD Loyalty & Rewards program offers a high APY and zero gas rates, but its token is based on the ERC20 network. How do you ensure that Ethereum issues don't hurt the performance and benefits that users may have with Yield?

By aggregating capital and employing technology solutions to complement the portfolio team, YIELD is in a position to profit from trading strategies that are not available to individual or market participants with insufficient capital reserves.

Q8. Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?

Every protocol we deploy capital into has been audited by our internal team on the smart contract, and business analyst side. We also have a partner Zokyo who also performs smart contract audits on everything. We would never go into a position without complete confidence its audited and secure.

Q9. 90% of your Net Platform Fees generated on YIELD are transferred into the YLD Insurance Fund... Can you explain what these funds will specifically be used for...and what cases this insurance funds cover for

This is not quite accurate. 1% of fees generated go into an insurance fund that is eventually turning into an insurance product.

Everything from Theft to major incidents, our main priority is to keep the funds safe

Q10. Your card program will launch end of Q1 2021. In which regions will it be available? What are the requirements to obtain a YIELD card?

We can't disclose that because of the talks we are having, but our main focus would be South East Asia

Yes its still a work in progress. I have launched multiple successful crypto cards before with Wirex my first the largest crypto card company in the world.

Q11. I understand that Yield operates under a "banking license", which makes it a traditional finance system, right? If so, how do you convert this centralized system to a DeFi system and in turn fully unlock its functionality?

Our front end is a bank and our Backend is FULL DEFI. This way we can guarantee our customers a Fiat on ramp and the possibility to get high yields with their currencies!

Q12. What really is the mission and vision of this Yield project? is it simply to develop a platform that provides all the financial tools necessary for users to have a "bank in their pocket"?

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.

Q13. What are the benefits of holding $YLD for a long term?

Everyone who holds YLD will benefit from the growth and the expanded utility of the token and platform. We make it easy to earn YLD in many ways. Just put coins on the platform, invest, or hold YLD to earn more YLD.

Q14. What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?

We have a very good copy team that is helping us bringing DeFi to normal people in a very easy and pleasant way. Check out our blog for more information. We also plan to do AMA's with the community. 

https://www.yield.app/blogposts

Q15. How does YIELD protect individual investors against the risk of fraud by pooling user funds and is the financial or technological expertise of users an important factor for you?

We have identified critical systems and will continue to stress-test these alongside market-related technology security scenarios to mitigate and remove points of failure across our operating environment, including DeFi instruments held in our portfolios.

We are building in-house technology solutions and employing industry-leading experts in their fields; data security consultants supported by our various oversight, enterprise, and risk management committees and frameworks themselves adopted from traditional funds and capital markets best practices.

YIELD has a core team of experts, our ‘Portfolio Managers’ who work closely with our technology, risk, and software engineering teams who are developing proprietary automated portfolio allocation and portfolio management tools for safely accessing a fast-expanding DeFi ecosystem.

Also we are working with some of the top smart contract auditors in this space.🙏

Q16. 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?

YIELD differs from other platforms in that it was designed to enable anyone, including people who have never even heard of Yield Farming, to invest in Crypto and benefit from DeFi’s incredible opportunities. This is accomplished by accepting both traditional currencies and stablecoins, which means that our users can use their bank cards without having to manage crypto assets, and with a simplified interface where you’re only required to select the investment plan of your choice.

Q17. Really, what characteristics does Yield have that makes it "the best investment opportunity"? How to know that it is not just another project that promises great profits, and in the end they end up being SCAM?

"We offer 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 DeFi. We also seek to raise crypto awareness through informative articles on our blog and medium account, 👨‍🏫 and our interaction with the community, like this one. So thanks again for aving us in this AMA!

We are building products for the normal people and people outside of crypto. I think a lot of other projects are focusing more on the high level people

We are making it super easy for consumers and safe. With us we take care of all the heavy lifting and make it accessable to everyone for as low as $100. Batched transactions, insurance, 24/7 monitoring of the networks. We aim for the retail market to be able to safely invest into DeFi.

So we know very clearly that customers has diffculty to enjoy the Defi world. But now Yield provides a quite user friendly tool to them to experience the Defi invest

We are a CeFi for DeFi company. We are a licensed and regulated bank and manage funds like a managed fund. Therefore we are able to build some really cool tools to manage funds that no one else we have seen is able to duplicate.