YOP Finance
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YOP Finance

AMA Recap: YOP & Gate.io

Gate.io arranged an AMA with YOP to share more about our project to their community and the response has been great. In this Ask Me Anything recap, we refer to our Founder Atif Yaqub as Guest and the admin of Gate.io as Host

Host

A big welcome to @AtifYaqub from YOP

Guest

Hey everyone, Thanks and it feels great to be here

Host

We are so pleased

Let’s kick off

Tell us about how you entered the crypto space and how your background contributed to your early successes

Guest

Lets go. I am Atif Yaqub, Founder of YOP. Have been active in the crypto space for over 4/5 years now. Started with mining Bitcoin and Ethereum, moved into investing and over the years supported various projects. Enjoy travelling, motorsport and have been very enthusiastic about Bitcoin from the day I understood it. I am now actively supporting the growth of DeFi to create a more equal financial system for everyone.

My experience from operating business in various verticals has been applied to launching projects in the crypto space too and now I am operating my own project. I still advise and support various projects and enjoy the community element of the space.

I am also a founding partner and board member at Pluto Digital Assets Plc — a venture company based in London.

Host

Great to see crypto veterans here

What is your project exactly and can you tell us more about your vision?

Guest

We are a UK based project with a global team behind us. YOP is a Yield Optimization Platform & Protocol. YOP is an all-in-one yOptimization application that makes it easy for everyone to access DeFi. Giving you control, custody, insights and flexibility directly in one single application.

Our vision is really to provide better access to DeFi and to bridge the gap between Traditional Markets to Crypto Markets. There is a liquidity gap and YOP has exposure to the London Stock Exchange via three publicly listed companies that gives us a huge advantage to grow DeFi with real users and liquidity.

Host

Yes YOP has been doing exceedingly well

What are some of the major milestones you guys have hit so far and why are they important?

Guest

We have been in development since September. The past few weeks have been really busy, since we launched on Polkastarter was really smooth and conducted our sale in a different way to others buy unlocking all tokens day one and having the same price from seed to Uniswap. We published a short demo video with a sneak peak at the app. We are on track to launch V0 Q1.

Host

Yes, things have been moving along

Can you tell us more about your business model

Guest

YOP app will operate on a freemium model. Some services are free for all to use and some will require the $YOP token. In addition to the services we will bolt on rewards to other staking, farming and yield services. Our initial growth will be in the crypto space and then we see our larger customer base coming from partnerships with traditional markets and financial institutes wanting to port customers over to DeFi. 👍

Host

Got it

And how does this apply to the tokenomics of the project?

Guest

Our token model is net deflationary. So as the customers in the application grow more tokens are withdrawn from circulating supply. So low initial inflation and as all tokens are unlocked with see strong fundamentals from project to support.

Host

Deflationary projects always catch my attention!

What are some of the competitors you’ve identified (crypto or non crypto) and how are you different?

Guest

As YOP is building on two sides, Platform and Protocol we have two types of competition. This is also split into two-sub areas. Platform custodial and non custodial, BlockFi, Celsius, then Argent and Zerion. On the protocol side, AMMs & Aggregators like Yearn and Uniswap.

At the start we will work with some of these protocols but eventually growing our own liquidity as we build up the DeFi Super protocol. The biggest difference being that we connect all tools into one place which has not been done before.

Host

Yes, this definitely appealed to me a lot when I found out about the project

How has your community grown since you first launched?

Guest

Community growth has been really amazing. Since we came to market with over 15,000 in Telegram and our Twitter has really been growing fast over 17,000 and going strong. The community is active and diverse. We have also reached out to various communities in different regions.

Host

Great stuff

Final question: where are you heading in the next few years and what are the next major updates for you?

Guest

Great times ahead we believe. The market is performing well. The project development is on track. Our community is growing. We have lots of media partners and are also happy to be engaged with Gate. Further ahead we really want to grow the DeFi audience and create more equality for investing and portfolio management. Keen to support UBI and create level playing for all.

Stay tuned for announcements, more partnerships and product demos in the days and weeks ahead.

Also want to thank all the community for the support. DeFi for everyone.

Host

Great stuff, thanks so much for all this info

Host

Time to open up to user questions!

Community Questions

Question

Where does the project name come from? What does it mean for you and why did you choose that name for your project?

Answer

YOP — is Yield Optimization Platform

YOP — is Yield Optimization Protocol

We wanted something short and memorable. Some great MEMEs too.

Question

What are your plans for global expansion,on building and developing or getting customers and users, or partnerships?

Answer

We have a strong roadmap for growth and global expansion, but it all comes step by step. We have steadily been announcing partnerships and continue to grow with these.

Question

As we know, every successful project has a few stories behind the scenes, what’s the story behind YOP success? What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming YOP updates that you want to show/share with us?

Answer

The first idea was way back in June 2020 maybe even earlier as it has always been an issue for me that projects do not build for customer. Poor UI/UX has been an issue in crypto for a long time. So that was a big driver for YOP but then beyond that we need to innovate on DeFi protocols too. So together we ended up with a very strong project and decided to launch.

Question

What kind of use-cases does the YOP token have? What kind of value does it play and bring to the YOP ecosystem?

Answer

Our app is fuelled by the YOP token. A deflationary token structure that allows users to connect with various DeFi networks, earn bolt on rewards, stake and participate in governance. The YOP token also collects fees and then distributes them to holders. We also have a buy back and burn structure that supports community growth with incentives.

Question

Many new projects made a good impression at first but were suddenly abandoned. How will you manage Your project to gain a place in the market and become a better token in the blockchain world?At the moment , where are you focusing right now ?

Answer

We have only started. Our structure is modelled for long term growth and this regardless of market conditions too. So we believe a steady growth is better than going up so fast and then crashing. Consistency is important to us. Our focus is to build our product, launch and continue to improve.

Closing Remarks

Host

Great!

Thanks for all your swift answers Atif!

Where can our community find out more about you guys?

Guest

Everyone is welcome to come join @yopfi group and find out more about YOP. We are also on Twitter @yopfi

Host

Great stuff

Thanks so much for joining us

Guest

Really appreciate the invitation. Thank you for hosting @marietatibouet you have been amazing.

Big thanks to all the community supporting YOP. 💜

Gate.io: YOP/ETH & YOP/USDT here

YOP Socials

Twitter @YOPfi

Telegram @YOPfi

LinkedIn @YOPfi

Website yop.finance

yop.finance

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YOP

YOP

YOP — Yield Optimisation Protocol