GAINS Associates
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GAINS Associates

YIELD.app — Telegram QUIZ & AMA — November 13

On Friday, November 13, we had the pleasure to welcome to our Telegram chat:

Tim Frost, CEO & Project Lead,
Justin Wright, COO & CFO, and,
Jan Strandberg, Marketing Lead of YIELD.app.

We asked them questions about the development of YIELD.app.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

YIELD is a licensed and regulated FinTech company that enables anyone to invest in decentralized finance. YIELD has successfully acquired an offshore banking license to support its launch.

The YIELD team comes from a diverse range of backgrounds, with experience in investment and institutional banking, funds management, fintech, software engineering & development, consulting, law, and media.

YIELD is backed by many industry giants including PAL Capital, Alphabit, Yeoman’s Capital, BnkToTheFuture, and many more.

Introduction

Q — Alex Raffin from GAINS: What did you do before crypto, how did you get into crypto, and did you have any other venture in crypto previous to being involved with YIELD.app?

A — Justin Wright from YIELD.app: Hi everyone, happy to be here and to meet your community! I have spent most of my career in capital markets, banking, and fund management before moving over to Fintech and being an entrepreneur. This is my first venture in the crypto space. I have spent the last 6 years building out Beehive P2P, the largest SME P2P lender in the Middle East. Having been introduced to DeFi by Tim and seeing the potential to take crypto to the mainstream, I jumped at the chance to be part of the founding team.

A — Tim Frost from YIELD.app: My name is Tim Frost and I am the project lead. Before crypto, I played professional basketball and worked in emerging tech companies. I got involved in crypto in 2014 and have been founding and accelerating fintech and blockchain companies ever since.

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.

A — Jan Strandberg from YIELD.app: Hey everyone. Being a growth hacker, digital nomad, and creative thinker, I handle digital marketing for YIELD. I’m data-driven and have extensive experience in branding, PR & SEO. I’ve helped successfully scale-up companies in the sphere and I was the head of marketing at Paxful, which is scaled up from 50 000 users to more than 4.5 million users and from a revenue aspect, from less than 100k$ weekly volume to more than 40 million USD.

Before crypto, I had a very successful marketing boutique company where I was consulting the biggest companies in Finland, both in their digital marketing strategies and also implementation. I got into crypto due to Martti Malmi who was one of the OG Bitcoin coders in early 2012.

I’m also an investor both in gambling and in CBD businesses, and still, help out different crypto companies with my profitcommerce.io boutique. I’m super happy to be part of the YIELD founders and think we have a super team.

Product

Q — Alex Raffin from GAINS: What is the project about in a few simple sentences?

A — Tim Frost from YIELD.app: YIELD is a licensed and regulated FinTech company that enables anyone to invest in decentralized finance with the touch of a button! Thanks to our intuitive app and web platform, users around the world can start earning returns from DeFi products without having to go through a lengthy, complex, and often costly learning process. Our users earn around 15% APY through our DeFi strategies on the backend. We are backed by Alphabit, Bnk To TheFuture, Digistrats, Pal Capital, Yoemans Capital, and Chronos VC.

A — Justin Wright from YIELD.app: We’re building a bridge to make it easy and accessible whether you understand crypto or not, our front end application is simple to use and should be familiar to anyone who has online banking.

A — Jan Strandberg from YIELD.app: It’s good to show with pictures. It’s a very long process and the more ETH price goes up the more GAS fees take out of your profits and APY. Instead of doing your DeFi alone, we combine everything.

Q — Alex Raffin from GAINS: There are tons of other projects that want to do something similar. How are you going to capture a bigger share of the market?

A — Tim Frost from YIELD.app: I haven’t seen a team with the track record we have. Jan grew Paxful from 50k to 4.5M users and overtook Localbitcoins without raising capital. I was part of the founding team and ran marketing and Business Development for Wirex which now has 3.5 million clients. While we don’t want to give too many specifics on how we will take market share, our track record does speak volumes.

Q — Alex Raffin from GAINS: What is the token use case? How did you make sure it captures the value of the ecosystem you’re building? How will holders of the token benefit if you manage to repeat your previous successes and grow YIELD.app to millions of customers?

A — Tim Frost from YIELD.app: We do have a strong use case now, but I do have to say we have a legal council now working on an updated version. Once fully approved, we will release it to the public. Similar but enhanced utility as we have now. You can see the current version here.

A — Justin Wright from YIELD.app: We plan to create and add new utility as we continue to add products, features, and technology-driven niches to our capabilities and are now accelerating this desire. We have new updates coming soon.

A — Jan Strandberg from YIELD.app: During the first 36 weeks after launch, our early adopters will receive $YLD when they:

  1. Invest in a plan
  2. Refer new users to our platform
  3. Stake their tokens using our built-in feature
  4. Simply hold assets in our secure multi-currency wallet. The max supply is fixed, and $YLD will also be tradable on exchanges.

We want the community to grow and we do plan to work with as many communities as possible. That means that we are going to translate the website into different languages and also establish native communities.

We think community building is one of the main things to move forward with and we hope to get as many backers as possible.

Q — Twitter user @OkanBoysan29: Your Staking rewards will be distributed for 36 weeks, after these 36 weeks, will there no longer be rewards distribution for staking?

A — Tim Frost from YIELD.app: During the first 36 weeks, if you stake 1000 USDT you will be earning USDT and $YLD daily. At the end of 36 weeks, the current plan will expire and new initiatives will be released.

Q — Alex Raffin from GAINS: Is the projected APY 10% for now?

A — Justin Wright from YIELD.app: Minimum. We will share the upside above this with our users but protect them on the downside.

Q — Telegram user Emi 💌: Has YIELD already acquired a banking license? Are you a fully regulated company?

A — Justin Wright from YIELD.app: We have already successfully acquired an offshore banking license to support our launch. Typically, it takes time to reach multiple jurisdictional regulatory approvals so. In that respect, we are setting out our intentions from the start and will continue to add licenses as we go for all of our activities. The founding team members have all previously worked with financial regulators globally and successfully launched and licensed projects.

Q — Telegram user Sentung: DeFi has become a popular issue lately. Is YIELD just following that trend or are you well prepared to enter this space?

A — Martin from YIELD.app: With the experience of the team, well prepared is the answer. DeFi is the natural progression that Bitcoin (thanks to Satoshi) kick-started for a more efficient financial system, inclusive indeed.

Q — Telegram user Ross: I’ve seen many projects offering their farming goodies, without clear use cases. How can YIELD stand out from these projects? What is its real use case and why would it be a long term investment?

A — Justin Wright from YIELD.app: By making it simple, transparent, and available to everyone. In a world of perpetually low-interest rates, any alternative asset class that can be accessed through an app like Yield that does the heavy lifting and sharing the returns without the fear and stress when you can invest as little as $100 should hopefully be well received. We plan to build, grow, and innovate as the market evolves and go on this journey together with our users.

Team

Q — Alex Raffin from GAINS: How many people are on the team besides you guys? For how long have you been working on YIELD.app?

A — Tim Frost from YIELD.app: I believe we are 18 full time now through development, product, marketing, operations, and legal with about 6 contractors.

A — Justin Wright from YIELD.app: The team at Yield comes from a diverse range of backgrounds, with extensive experience in sectors that include investment and institutional banking, funds management, fintech, software engineering & development, consulting, law and media. We understand what the market needs. We believe we have the right to make this happen and build something sustainable for the long term. The whole space is growing quickly. There will always be competition and that’s healthy provided it is with the user’s interest in mind.

Technology

Q — Twitter user @OneOneworldTo: Why does YIELD still use the Ethereum blockchain when the speed is slow and the gas fee is high? Do you have any plans to start your public chain or convert to other blockchains in the future?

A — Justin Wright from YIELD.app: Simply put, we will be chain agnostic. As we grow, we will move more strategies from our sandbox over to our portfolio products. For the launch and protection of our users, we will start with one foot in front of the other. We’re building IP in our service delivery model by putting together a front-end simple application that is familiar to everyone. At the backend, we have a team of analysts, quants, portfolio managers, and developers that are building an automated allocation, analysis, and secure portfolio management suite that doesn’t exist today but is designed to maximize opportunity regardless of the pools and farms we interact with.

Finance

Q — Alex Raffin from GAINS: You mentioned you raised 70% of your target. Could you tell us more about the metrics? How much are you raising, selling, and at which percentage, will there be a crowd sale?

A — Tim Frost from YIELD.app: We are raising a $4M presale at $.07 and an $800k main round at $0.11. The main round will be December 12 and the format will be released in 1–2 weeks. Total 300M coins distributed over 4 years.

Q — Alex Raffin from GAINS: What will be the market cap at launch with these prices?

A — Tim Frost from YIELD.app: $2.8M at launch.

Q — Telegram user Minlinx: What will happen to tokens that are not sold out during presale and main round public/crowd sale?

A — Tim Frost from YIELD.app: We are almost sold out, but we will lock any unsold away for 4+ years.

A — Justin Wright from YIELD.app: We have a new website coming early next week and lots more information available as we head into 12th December 2020.

Q — Telegram user Jesus Freites: Who constantly monitors my funds in YIELD.app?

A — Tim Frost from YIELD.app: Our portfolio management team and our DeFi team monitors funds. Also, a lot of monitoring tools are in place.

Partners

Q — Twitter user @KnowsAutumn: Which projects have YIELD established cooperative relations with? Will it establish cooperative relations with any major exchanges in the future?

A — Martin from YIELD.app: Partnerships and supporters — We are backed by PAL Capital, Alphabit, Yeoman’s Capital, BnkToTheFuture, Digital Strategies, Chronos Ventures BitGo, Ava Labs, Blockpass, Zokyo, the list goes on!

A — Jan Strandberg from YIELD.app: Alphabit and Bnkofthefuture are very well known players in the industry. We do plan to work with exchanges and I think in the coming weeks there will be more info about it.

A — Tim Frost from YIELD.app: We are not at this time discussing our exchange partner plans, but we can say conversations are ongoing at major exchanges. We are also working closely with many upcoming DeFi protocols that are coming soon.

A — Justin Wright from YIELD.app: The whole ecosystem benefits when genuine projects and like-minded project builders come together. We have been targeting a global audience from day 1. We are 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. That’s how we collectively take this mainstream.

Security

Q — Telegram user 🦖🔥Khaleesi: With your new slogan which is — ‘DeFi Banking in Your Pocket’, what is the exact purpose of building YIELD.app besides DeFi high gas fee, slow speed, and poor user experience. What other problems do you want to solve in the DeFi space?

A — Jan Strandberg from YIELD.app: Security. We are working with some of the top Smart contract auditors, and instead of you doing all the due diligence, we do all that for you. So you won’t get rug pulled or you won’t have smart contract failures.

Business Development

Q — Alex Raffin from GAINS: What stage is the project/product at?

A — Tim Frost from YIELD.app: We are on target for a public launch on December 12. We like the idea of rolling the token out with full utility on YIELD.app.

Q — Telegram user U Fig: What marketing strategies are applied in the ecosystem of YIELD that may attract influencers to use the platform?

A — Jan Strandberg from YIELD.app: Attractive affiliates programs, attractive early adopters programs, and also some old school digital marketing stuff. Learn more here.

Q — Telegram user Sen: Sometimes good projects like yours don’t receive the right attention from the DeFi community. How will Yield spread its name and become more popular?

A — Jan Strandberg from YIELD.app: Work with as many communities as possible, listen to customer feedback, and have an actual product that produces wealth for everyone instead of taking that wealth away from you!

We do not focus on the speculative side of crypto, only the wealth opportunity that lies in it.

A — Martin from YIELD.app: Transparency, trust, and ease of use. We are creating a new bank for our customers built around the DeFi asset class to create superior returns, a frictionless customer experience and continuously evolving products that are useful without all the stress and cost you’d incur if you tried to do this yourself.

Q — Telegram user Emi 💌: 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?

A — Tim Frost from YIELD.app: We are working on card programs now. One in Asia and one in Europe. More details once things are finalized.

Q — Telegram user dark ambient: What strategy and milestones do you have to make YIELD global, not only make people believe in YIELD but also make them use it?

A — Tim Frost from YIELD.app: There is no shortcut to success. It’s a combination of good marketing, PR, excellent product, high APY, good customer service, and many other things to make a company flourish.

Thanks for your time today guys. It was great learning more about you and YIELD.app. Keep us updated and don’t hesitate to share your new stickers, gifs and memes, they crack me up. Can you share your Telegram and Twitter links for people who want to follow you? — Alex Raffin from GAINS

Thanks for having us Alex and thanks to the community also. Hopefully, we get some of you guys to join us on Telegram and follow us on Twitter and LinkedIn 👌🙏 — Jan Strandberg from YIELD.app

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