YDragon AMA Summary Recap with Shin Chan Community

We held a live AMA with CEO: Raiden, COO: Octal, CBDO: Halfdan and CMO: Leon from YDragon on 20th August 09:00 PM (UTC+8). Here’s the recap for those who missed it.

Introduction

Jack: Before AMA start, can you introduce yourselves and the team background?

Leon: Sure, I’m Leon, the CPO at YDragon, 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.

Halfdan: Hi Jack, Hi Serene and Hi Shin Chan community!
I’m Halfdan, CBDO of 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 and I worked in several small projects. Now focusing 100% on YDragon where I’m in charge of partnership & business.

Raiden: Hey guys, 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 a back-to-back high performance computing hackathon winner.

Jack: Do you have any news/update about YDragon would like to share with us?

Leon: I will forward this announcement here actually, it’s a fresh new partnership for us :)

New strategical partner : Unimex !
Read more here: https://ydragon-io.medium.com/3742709f517

Buy YDR here:

👉 https://pancakeswap.finance/swap?outputCurrency=0x3757232b55e60da4a8793183ac030cfce4c3865d
👉 https://app.uniswap.org/#/swap?inputCurrency=0x3757232b55e60da4a8793183ac030cfce4c3865d

🚨 The only contract is 0x3757232b55e60da4a8793183ac030cfce4c3865d 🚨

Medium (https://ydragon-io.medium.com/3742709f517)

Twitter Section:

Q1: The maximum great part of the project’s achievement is the community’s support. Programs that interface with users are found in most all projects. Do you have any unique goals for concerning and increasing the community, in addition to enhancing the user experience?

Leon: Good question. So of course the community is essential to any project you know, and we actively encourage people to participate in our chat, give feedback, tell us what they like and don’t like. That’s the best way to grow, by taking what the community has to say, and act on it. In terms of increasing the community we’ve been pushing heavily on marketing recently and you can see our chat has over 10k members in just over a month, so we’ve done really well in that respect. Holding competitions, doing AMA’s like this, advertising on other websites, these are all ways we’ve pulled community members into our chat.

To keep people interested and incentivised, we’re regularly running competitions, and offering rewards from our platform going forward :)

Q2: Even if you claim that YDragon simplifies DeFi, how will you ensure that your products are easy to understand by all DeFi users? Considering that most crypto users are at the minimum level of technical knowledge, will you be able to maximize the profits of this audience?

Halfdan: That’s an excellent question.
You can see a lot of projects out there and when you click on their website … you’re not really sure what they do.
A lot of complicated words and you don’t necessarily see the value.
On the other hand, you have all the meme coin with meme wordings but they don’t have a clear value.

We want the investor to understand how EASY our platform will be.
You will be only ONE click away from investing in a “bag” that regroups some of the best cryptos.

You can decide on what “bag” (that we call index) you want to invest :
- For example Bag 1 : Top #5 Binance projects — Bag 2 Top #NFT projects — Bag 3 top #Polygon projects etc etc….
Everything from our platform, without changing network on Metamask etc.. It will all be very simple!

Q3: Can you provide some progress on your Roadmap and what facts YDragon has achieved so far? And any future plans for YDragon?

Raiden: YDragon has just launched 2 days ago and we’ll be kicking off our index minting event in a week or 2 which will be absolutely HUGE for the ecosystem. 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 release our first index 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.

Q4: Users will be able to lock their cash in an index and earn benefits through your Yield Generation tool, but will they be able to withdraw their funds without penalties at any time? Could you perhaps explain the different staking and liquidity pools lock-up periods?

Raiden: There will be 3 different lockup periods. 1 month, 3 month and 12 month lockup periods for staking and LP farming. The longer you stake for, the bigger your rewards obviously.

There will however be penalties if you withdraw your stake before it ends, users will forfeit their rewards and 20% of their initial deposit will also be taken away as fees. This penalty cut from stakers who exit before their lockup periods ends will be given as rewards to active stakers.

Q5: A successful project attracts more prospective investor’s and partcipants; it also enable these participants to join with project and introduce new ideas to reach an agreed terms. How do you attract your target market? What strategies are you going to use?

Leon: So as you know by now, we’re working on simplifying DeFi, to do that we’re working on a few key items that will make it simple to invest in a crypto, but also in an index. We’re working on creating videos explaining how our platform works, we’ve got articles being created that also explains how to use the platform and then there’s the platform itself. With just a few clinks you can own a basket of assets as a single investment, pretty cool right? To attract users like this it obviously ties into our marketing efforts, and that’s why we’re exploring every route we can in order to attract people who are tired of this space being so complicated and hard to navigate

Telegram Live AMA Begin:

Q6: when platform launch? staking end of this month?We need marketing

Halfdan: We are very active in the marketing (proof is that you are here in the AMA).
The platform will launch very soon! We are still doing some test to make sure the experience is flawless!

We will communicate about a big event : the Index Minting Event.
It is an event even more important than our IDO, this will be the building of our first index!! A lot of cool things to win for the people who participate!

Q7: Let’s say that YDragons is a third party that connects investors with investments in the crypto space with your own method. Is there any guarantee for the safety of the funds that we lock in index? What mechanism does your project implement in case where users’ funds are stolen?

Leon: Preventative tools have been mostly unsuccessful as you’ve seen that many protocols still get hacked even after many audits and preventative measures implemented. We have obviously went through audits as well, but we felt that we needed a way to react after the fact — Lossless protocol, with who we are partnered, is great for that. Lossless basically makes the YDR token a honeypot for hackers: it’s a post-hack mitigation strategy that freezes malicious transactions, and later undergoes a rigorous process of fund recovery. You can read more here: https://losslesscash.medium.com/how-does-the-lossless-protocol-work-19b62da05e01

Q8: Is there a reason why your roadmap starts from Q3 this year and ends In Q2 of 2022. How in the world are you going to built a final product in three quarters?

Halfdan: This is a fair question. The roadmap we communicate is the one from today until the next 6 months!
Our devs have been working on the product for the past 10 months already! We plan on launching it within 10 days!

Q9: I want to know, how many indexes are there in YDragon? and in which chains will they be launched to improve the user experience? Grazie

Leon: We just have the one index right now that we’re launching soon, which is on BSC. But up next will be indexes on Polygon, and AVAX. We’ll then explore more indexes in future!

Q10: staking program is very important for any project can i stake your token? Does your project have plans to start a staking program?

Halfdan: Very good question and it’s 100% true. We launched our token 2 days ago and a lot of people have been asking for staking.
We will provide a lot of details soon about our staking program!

Q11: You say that your ecosystem will offer investors the opportunity to own a diversified portfolio of the best performing cryptocurrencies with a single token, but could you really explain how it will be possible to “diversify” with good performance with a single token?

Halfdan: Because the token is a REPRESENTATION of the bag you are invested (5 or more assets) which exposes you to the performance of said assets!

Q12: YDragon just launched 2 days ago. Can you tell us what is the development plan in the next 5–6 days? When are you planning to launch your first index mimting event?

Leon: Good question Natalie, right now we’re focusing on adding staking to our platform, as well as getting everything ready for the IME. We hope we can launch for the IME in the next couple of weeks!

Q13: Do you agree with me that the index space in crypto is still very immature and the potential for capturing a large part of the market is high? If you do, then how active are you in terms of development so that you will be able to take the project to new heights?

Halfdan: I agree 100% with you! That is why we want to build an index protocol that captures the essence of DEFI and Crypto (farming, passive revenue, lot of indexes of choice etc…)
We also plan on including an NFT aspect to our platform so that people identify themselves with YDragon and can have fun in our platform!

Q11: When I look at Ydragon roadmap, a lot of things are going to come in the very near short time soon. Do you think what are the MOST important upcoming milestones? Do your project have enough financial support to achieve these milestones and not to stop suddenly?

Leon: The most important milestone right now is to hold our initial minting event and to launch our first index, and platform :) we do have the support available to achieve this!

Q12: With YDragon users can invest in multiple Blockchain indices. How can the user adjust the asset composition of each Index Or will the user be limited to the YDragon defined Index? Is it possible for users to suggest assets to be included in the Index?

Halfdan: The user will be limited by the YDragon defined index. OBviously holding $YDR will allow you to be able to vote on index composition

Q13: NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us yhe plans of your project in NFTs?

Halfdan: Yes we have NFT projects for users who want to be even more invested in YDragon ;)

Q14: During these days, the creativity of the projects is very poor, for that reason the innovation is something that really excite the community, so can you explain us how Ydragon affront this situation? What are the unique things that you different ?

Leon: Sure, creativity for us isn’t a problem, we have so many options available to us with our partnerships, and our development plans. We have a lot of naturally creative team members as well and we’re always brainstorming new ideas.

Keep and eye out for how our platform develops and you will see :)

Q15: Let’s say that YDragons is a third party that connects investors with investments in the crypto space with your own method. Is there any guarantee for the safety of the funds that we lock in index? What mechanism does your project implement in case where users’ funds are stolen?

Halfdan : We are working with Lossless and Certik because security is a key aspect for us and for our investors!

- End -