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YDragon x Satoshi Club AMA Recap from 4th of August

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from YDragon and our guests were @Leonk19, @HalfdanYDR, @O_C_T_A_L, and @RaidenRed — representatives of YDragon. The AMA took place on 4th of August.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Website


Hello again, dear Satoshi Club community! We are pleased to announce AMA with YDragon.


Hey guys


Today our guests are @Leonk19 @HalfdanYDR @O_C_T_A_L @RaidenRed

Welcome to Satoshi Club


Hey everyone! Thanks for having us here


Hi guys!


Hi guys, glad to be here today with all of you !


YDragon Family, welcome to our group

We are happy to have you here!


Hello and welcome to Satoshi Club, @Leonk19 @HalfdanYDR @O_C_T_A_L @RaidenRed!

How are you doing


We are good good, a lot of actions going on and it’s very exciting !


Really good thank you, we’re excited to be here and to discuss our project with you. I hope everyone is doing well today.


Satoshi Club really happy to have you here today

So… Let’s start!
Introduce yourself please. How did you get to be involved in crypto & YDragon?
Tell us please about your position in YDragon?


I’m Raiden, the CEO of YDragon. I was a core library contributor at a multi-billion dollar blockchain juggernaut, Big Data analyst for a secondary market platform, ex-founder and CEO of an ambitious tech startup and am a back-to-back high performance computing hackathon winner.


Yeah so I’m COO of YDragon, my experience comes from being a day trader for a few years, a backend dev at a big investment bank for another few, and a web/mobile project manager later on for 4 years. Now I work at YDragon full time.


Sure, so I’m Leon, my background is in project management and marketing, and I have worked on delivering large scale consulting projects in the software industry. I also recently worked on delivering projects and managing change within one of the largest cryptocurrency liquidity providers. I now work on YDragon full time and have been working in this space for 4 years.


I’m Halfdan, Chief of Business for YDragon. I’ve been working in IT for 8 years as a business manager for some top tech companies (most famous being Oracle).
I’ve been in crypto since 2017 where I was a small investor on my own and started to work on several projects. I even got the chance to go to Asia and meet some really good projects such as the Huobi team in their HQ in Singapore or even to participate in Blockshow 2018. And now I’m working full time for YDragon since January


Great personalities here

, it’s an honor for us.

What is the essence of YDragon and which problems do you try to solve?


Guys! your experience is really impressive

What is the main idea of the project?


The increasing growth of the DeFi market is creating a plethora of opportunities for investors, leading to brand new innovations. Some of these innovations may focus on improving the DeFi evolution on Ethereum, whilst others may focus on building DeFi infrastructure on other chains.

This creates a problem of choice for traders due to over-saturation of projects. Gaining exposure to the opportunities presented across the market is therefore time consuming, technically difficult and involves risk.

Investors want to access the best opportunities they can, with ease, and YDragon was born to allow them access to momentum enhanced opportunities, by allowing them to have a diversified portfolio spread across multiple blockchains with ease.


How long does it take to develop a project? What plans do you have for the future? And what can we expect from YDragon?


Sure, so the main idea is partially covered by what Raiden said above. We’re trying to address a lot of key issues for investors and traders, but we’re really trying to simplify the process of investing and allowing users to diversify their portfolio, reduce their risk but also maintain the benefits associated with DeFi


Gotcha


It depends on the project and its complexity, but we’re been working on the background logic since last year, though our frontend work is still in development. YDragon has multiple goals set in place to advance the project further across all areas. We are planning to achieve a big TVL from the get-go by working on marketing, partnerships and project development in parallel. Our team is experienced enough to deal with all of these aspects which will allow YDragon to achieve the milestones we have put in place.


Now, please explain us the name and logo of YDragon


The “Y” stands for Yield so YDragon means Yield Dragon. The inspiration behind YDragon was to develop on the themes around ancient dragons hoarding and protecting treasure and gold. So the bottom line is that YDragon is a platform built from the ground up to protect investor assets and provide a safe place to earn reliable returns.


Also we would like to know about your team. Who is on the project team core?


As for the logo, you can notice our dragon’s head is actually forming a Y


Thanks for clarifying

Yes, decently laconic and beautiful


We are a core team of 4 that recently expanded to 12 members, including a large outsourced dev team, and we’ve been working on this project since the beginning of this year. YDragon was born out of the idea that the Defi space doesn’t have a mature set of tools that empowers investors in risk management via diversification across the whole world of blockchain.

We want YDragon to be the one-stop shop for investors wanting to park their money and benefit from a diversified set of investments and innovative defi instruments.


So creative, I like it.


You have really ambitious goals


Are you an anonymous team?


At the moment, we can be seen as anonymous in our website but we are going to update it in the coming days with public faces for most of us


Thanks for great introduction, we will have a questions selected for the Part 1. Ready to start?

This is a good sign


Let’s (gold) rock(et) it !


Agree.

Q1 from Telegram User @kimzyemma


You can view governance as a form of utility: for investors that are interested in being part of the future of what they are investing in, being a part of that process is a form of utility for them. So we don’t view as being a governance token and a utility token as being two mutually exclusive aspects of a cryptocurrency.


By the way, it would be great if you could share your tokenomics with us here


As for the last few questions regarding the effect of our token on the market, I think whatever utilityt is added to a token, the more positive it has of an effect on price appreciation: the more utility a token has, the more diverse the holder group is of that cryptocurrency. More utility is always good to have, as your project caters to a diverse set of interests


Is there more usecases of $YDR? What are the main benefits for long term holders?


We’ll release the tokenomics when we announce the IDO during mid-August


Don’t forget to share with us


YDR is the utility & governance token of the YDragon ecosystem. YDR captures the growth of every index within the ecosystem, receives numerous revenue sources, allows the community to participate in governance and therefore provides incentive to hold. YDR will accumulate numerous revenue streams from fees on many indexes as well as from the yield bearing collateral and increased exposure to YDR in the indexes of the YDragon ecosystem. Users will be able to provide liquidity for indexes and farm YDR or stake index coins and earn YDR.

We are also working on other soon to be announced usecases to push YDR to new heights.


Thank you very much for the detailed answers! ready for the next question or want to add something?


Ready for more!

Q2 from Telegram User @Right_clicK1


No it will not be withdrawn from BSC of course

And yes, we are planning on spanning as many blockchains as possible by releasing indexes native to other blockchains one at a time. For example, as you might have seen, we are partnered with Polygon so expect an index for Polygon-native projects.

As for other incentives, nothing is set in stone but we are constantly brainstorming new ideas to entice new investors with investing in our indexes early.

If you’re curious, you can check out our medium article about IMEs and potential incentives (info at the bottom): ydragon-io.medium.com/d6fcacb1ec6c


I know you have a valid Razer giveaway btw? Please share with Satoshi Clubbers


Yeah we’re doing a massive giveaway for the community, here are the details for it:

Complete the tasks here: https://gleam.io/mYvzj/ydragon-razer-giveaway to be in with a chance at winning one of the three below prizes!

1st

A top of the line Razer Blade 15 Gaming Laptop!
2nd

A Razer Huntsman Mechanical Keyboard!
3rd

A Razer Kraken Headset!

There is 1 entry per task completed, so for the best chance to win a prize, complete as many as you can!

Good Luck!


We wanted to change a bit from the basic “airdrop” stuff we see everywhere that can be a bit redundant. We are very happy to see our community excited for this first (of a long serie) giveaway/contest.


Amazing prizes, let’s join Satoshiclubbers


Don’t miss great opportunity Satoshi Club

Thanks for your answers and clarification! Ready to proceed?


Go for it

Q3 from Telegram User @yellowchamp


Partnering with ICON Hyperconnect was really a strategical decision for us.
Most of crypto investors are focus on the main blockchain (ETH, BSC, Polygon …) and are missing out on many amazing projects out there.

With YDragon, we want to give you an easy access door to these amazing projects and that is why we are partnering with ICON. To setup in a futur an index on their chain.

It will allow user to discover a brand new world within crypto and maybe fall in love with some projects there.
We plan to launch indexes in many (relevant) chains and we have other solid partnerships that we plan on announcing soon.

It will also allow you to have a better risk-exposure !


I love the way you think deeply about your business strategy. it is worthy of respect


Do you have more partnerships at the moment?


We’ve got quite a lot of partners to be announced in the coming weeks, but whilst we’re completing those deals, we can’t state anything yet in this chat

Look out for the end of the week though, we’ll be announcing more soon.


Any sneak peek to our community?


For the current partners, we can tell you some names such as Magnus Capital, Marshland, Moonwolf or even Polygon who granted us a grant not long ago


Great names. Well, ready to proceed with the next question?


These are very famous and influential names

Q4 from Telegram User @victorogb


Well there’s no absolute way of reducing market volatility and market turbulence — as we know, sometimes it seems that ANY assets one invests in, we all seem to follow bitcoin in some way. In any case, we have a unique way of mitigating risk that’s proper to crypto (other than diversification), and that is by offering passive income to investors by way of leveraging third party yield farming protocols. So if you happen to invest at “the top” or “during a bear market”, you can always be sure that at least you get something for parking your capital with us.


The act of ‘investing’ usually suggests holding a position in an asset for long periods of time, years or sometimes decades. Because of crypto’s relatively young lifespan of a few years, and because the average lifespan of a given crypto project is roughly around a year, it’s difficult to come up with a reliable decades-long strategy based on the available data. If I had to guess, the most profitable strategy probably involves shifting funds around diligently from asset to asset, keeping a close eye on every project’s development. But again, one has to spend a lot of time and effort to maintain a healthy ROI — and this is exactly what YDragon aims to solve by leveraging smart contracts and a panel of experts to do it for you.


This is not a simple question. Thank you very much for your clear answer.


Excellent answer, now please tell us about users security, have you done audits or hackathons to find the problems of the contracts and platforms?


Okay, so, we haven’t communicated it publicly yet, but we will share this information here first. We are actually working with Certik to ensure the security of our product


Great news! Security first! Thanks for sharing


Awesome, have you found some important problems?


The audits are still ongoing, but so far we have received a set of recommendations and best practices to work towards, but nothing major to worry about.


That’s the way, security first

Well, is time to proceed with our 5th question.

Q5 from Telegram User @DK177


YDragon is set to launch around mid-August and we have just released our whitepaper which highlights our roadmap in details, so I encourage you to have a look on there but basically in a nutshell we have been making good progress in terms of development and being fully ready to launch the project on a strong note. We have been keeping up with the roadmap and we expect to deliver on our roadmaps promises much sooner than anticipated.

The index space in crypto is still very immature so by marketing it to the right audience and lowering the barriers of entry in DeFi would make DeFi more accessible and simple for all investor classes. The potential for capturing a large part of the market is high and so you can expect us to be very active in development and taking the project to new heights every day.


Yes, please share your roadmap


Yup those are just main targets. Of course marketing is a mut in this space, we need to let people know about our value propositions.

And no, we do not consider the project complete after we complete the roadmap layed out

This is meant to be an ongoing, continuous development type of project that grows as the world of crypto grows. As there are more and more niches to invest in, more and more blockchains that grab people’s attention, YDragon will come out with new and excriting indexes to invest in, in addition to new ways of offering passive income to investors

YDragon-RoadmapDownload


Thanks for the answers guys, a lot of exciting events are coming for the project


And it’s great that we are at the dawn of this industry! this is really Eldorado for those who came on time


Still so early ;p


Thanks for sharing


Would you like to add something before the next question?


Let’s proceed to the last question of this part

Q6 from Telegram User @Cheriemike


Ok so just one point of order here: investing in an index does not automaticaly grant you passive income. Passive income is achieved for the investor that is interested in it — what this means is that investors will have to stake their tokens on our portal and commit to a specific time frame during which they can get passive income


We dont have portfolio tracking/aggregation natively, but we are in discussions with other projects that offer these tools, and we’re going to be integrating these as soon as we can. So it’s our aim to provide users with as much visibility as needed.


So, what is the APY? Is it established?


No, the APY depends on many parameters that we simply don’t know right now. Variables that have something to do with the APY include: total value locked of the index, total value locked of the staking vaults, fees gathered by the protocol to be later redistributed to stakers, what kind of yield farming protocols we’ll be using in the backend and what THEIR APY’s are. We’ll be able to estimate the APY after launch, but right it is simply too early to promise anything


We understand, thank you so much for the clarification.

And thanks for your clear answers guys, we have concluded the first part of the AMA. 6/6


You took the most key points from the modern defi: such as cross-chain, yield bearing etc…. This is a great claim for success.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @JaviSuBs


You can have a read about index minting events here to learn more about the process

http://ydragon-io.medium.com/d6fcacb1ec6c

Q2 from Telegram user @Rinkus987

We simplified this process by allowing users to own a larger portfolio of assets, represented by 1 token. You have to pay less fees, and make less transactions to own a larger portfolio.

Q3 from Telegram user @victorogb

YDR token will actually be part of every single index that we are going to be offering on YDragon — so essentially anyone that invests in indexes, will be indirectly investing in YDR. We also have other use cases coming up for the token, to make it the most robust utility token out there. Stay tuned!

Q4 from Telegram user @victorogb

Every one of our indexes will include a portion of YDR. This will naturally increase the exposure of YDR to users and therefore generate further useage.

Q5 from Telegram user @K2ice

Hahaha good question ! We are exploring some way to extend the Dragon universe and stimulate our community with some cool aspect of NFT… We are still brainstorming but it can be some NFT that gives you some bonus in our app or just some cool arts about Dragon

Q6 from Telegram user @Tahsinahmett

Staked YDR holders will be allowed to vote on new ideas to improve the YDragon ecosystem. They will be partially involved in voting in new projects into indexes or deciding on compositions for new indexes which includes choice of assets, weight of the assets in the index and possibly choosing which farming protocols to use for the passive revenue generation.

Q7 from Telegram user @Smartling

The passive income will be based on the yield generated by the collateral. Farming can be time consuming but with YDragon, you won’t have to do anything, we will farm for you and reward you accordingly !

Q8 from Telegram user @coinerman

The core value of our project is eing able to diversify your investment — instead of investing haphazardly across many assets that you simply hear about from your friends or from crypto twitter or any other source that you like, you will be able to invest in a specific “mission” that the index has (representing a blockchain, a market sector, etc.) — and just forget about it. The farming aspect of it is a bonus and is basically there to reward long term holders of our index tokens and native token YDR. APY will vary wildly, but it will be there!

Q9 from Telegram user @KhaleesiTheCryptoLady

You can find details regarding this on our website

https://ydragon.io

Q10 from Telegram user @DF3295

If you hold YDR, you might be able to vote and decide on the future index but yes. YDragon team will always do its research to make sure the projects are relevant and that it makes sense putting them in our index.

Part 3 — Quiz Results

In the final part, we tested your knowledge in terms of YDragon. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/


YDragon Telegram community: https://t.me/ydragonchat
Twitter: https://twitter.com/ydragons_
Website: https://ydragon.io/

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