[AMA Summary] YIN Finance X Polygon
We recently had an AMA in official Polygon Reddit group, on June 26th. As some of you might have not participated, we made sure no one missed out on the good stuff! We made an AMA recap of the asked random questions and answers provided by Polygon fams & Sylvia — CMO of Yin Finance.
Q1: Hey Sylvia, When is the launch date of Yin Finance?
A: We will start our Alpha Test in Jul. 29th and lasts for three weeks. Our mainnet is expected to launch in Q3 2021.
Q2: Hey Sylvia, can you share the expected average APY %?
A: Users who subscribe to a strategy in YIN will receive 3 rewards: market-making income、 third-party mining income and rewards of YIN.
1. Market-making in Uniswap V3 the APR is expected to reach about 6%;
2. The third party mining income depends on the incentive mechanism of the partner, which is expected to reach 100% or even higher.
3.YIN’s reward mechanism is currently being developed. Mining may be carried out in batches with multiple periods as considering the long-term development of the project. Please stay tuned and wait for exciting news.
Q3: Hey Sylvia , Also few github repos you have mentioned in the website documentation can accessible seems it’s private, can u please provide references?
A: Most of our codes have already been published on https://github.com/YinFinance and we will create a Bug Bounty Repo. Welcome to check bugs on our platform.
Q4: What makes YIN Finance different from other DeFi solutions like Uniswap or PancakeSwap?
A: YIN Finance is an on-chain liquidity management platform and we will provide liquidity management strategies for users on dexs like Uniswap V3, Dodo etc..
Q5: Hey Sylvia, Could you please share info on The future roadmap for Yin Finance?
A: We are going to complete mainnet deployment and carry on audits&bug bounties compaign and TGE in 2021 Q3. Complete Polygon and Solana deployment in 2021 Q4 and open leveraged pools/strategies and add more markets/assets at the same time. In 2022 Q1 users can create their own strategies and Dao focused multi strategy management.
Q6: With Ethereum about to experience several hard forks in the near future and competing layer 2 protocols and roll ups in action and in development as a solution to Ethereum scaling issues, how will MATIC seek to stay competitive in the future?
A: In fact compared with other on-going testing layer2, matic has advantage on transaction fees. And the longer operation time makes matic have a more distinguishing advantage of forwardness. YIN Finance is thrilled to be part of it and diversify the ecosystem of Matic.
Q7: Hey, Can I know the features of YinFinance?
A: YIN Finance consists of 4 modules: YIN,the platform token; Yang, your personal vault; CHI, the programmable strategy and Grand Master, the lerage pool. We can offer active liquidity management, automatic reinvestment and multi-party yield farming services for users.
Q8: Hey, How Polygon benefit Yin Finance?
A: The Polygon official provides many support services to YIN Finance, a popular public chain that brings us a lot of traffic and gives us an entry point to help more users manage their liquidity.
Q9: Why polygon ? Is the smart contract code audited ? If Yes can give us the information.
A: With Polygon’s full-stack Ethereum scaling solution, users will benefit from reduced gas-fees and high-speed transactions.
At present we are being audited by two audit institutions: Slowmist and SECBIT. We will show in the website and https://docs.yin.finance/library/audit-report once we have any update.
Q10: Do you think your YIN.finance system is secure enough? How safe is your system in securing funds and user data?
A: We found two audit institutions to audit our contract code and there are many community white hats in our team. In order to ensure the safety of users’ assets we have a relevant risk control system.
That’s all for this AMA review! Thank you for reading this so far. Be sure to check out the “Important Links” section below and stay tuned for more updates of Yin Finance!
About YIN Finance
YIN Finance is a multi-strategy NFT liquidity management platform that allows users to subscribe to the project’s strategy to achieve effective high yield liquidity management. YIN Finance aims to provide proactive liquidity management services on different public chains and decentralized exchanges. Currently, we are deployed on Ethereum and will be deployed on Polygon and Solana soon. (Note: We’ve already received a grant from Polygon)
Project information:
