Innovative and unique in the market. Those are the terms I would use to describe this diamond in the rough.
I first discovered YSL.IO just over a month ago and did a piece on them here. Since then, I’ve continued to keep up with the project and I must say… I’ve become a believer. After DYOR like any respectable investor, poring through their Gitbook, analyzing project updates etc, I’m convinced that YSL.IO will go on and do for yield optimizers what Uniswap did for DeFi — redefining what the market considers the norm.
As is the case with projects that were ahead of their time, the concepts proposed by YSL.IO can be a little tricky to grasp. Fortunately for you, I’ve condensed below the key reasons why I think this is one project you don’t want to be sleeping on.
Let’s get cracking.
Stress Tested Tokenomics
In a race to secure a share of the DeFi pie, many projects tend to launch without a clear, well-defined plan on how they intend to maintain and increase the value of their native token. Even the biggest AMM in the BSC space, Pancakeswap, is guilty of this with their lottery and prediction games only being introduced much later on. In addition, while these measures can slow the increase in the circulating supply of $CAKE, it’s clear that more needs to be done before Pancakeswap achieves net zero emissions and stabilises the price of $CAKE.
In contrast, the YSL.IO vaults have yet to launch. Despite that, the team has already released their Gitbook (an extensive one at 25k words) and various Medium articles (I highly recommend starting with this one) that cover in detail how the price of sYSL (one of the four native tokens on the YSL.IO platform) will appreciate over the next 2 years. This is achieved via the continuous creation of locked liquidity, a unique feature that YSL.IO is pioneering in the market. 💪
Confident in their tokenomics, the YSL.IO guys even hired a team of data scientists from GotBit to model and stress test how their tokens would perform over the next 2 years. I won’t repeat all of their findings here, but they’ve released a great Medium article detailing the different scenarios the models cover. It’s impressive to see that even in the worst case scenario where the crypto space is plunged into a bear market and investors sell all the farmed rewards, the price of sYSL still appreciates!
Marketing
There is a sense of… maturity in the marketing that the YSL.IO team engages in. Take a look at their Telegram group and you won’t find the usual group of shillers and bots who constantly post instructions reminding everyone to tweet about the project or upvote on CoinMarketCap. Instead, it’s quite clear that the YSL.IO team believe in the long term prospects of the project and are genuinely trying to educate investors on the potential benefits of joining.
To that end, the team have completed over 50 AMA’s in 6 different languages, with quite a few more scheduled in the pipeline. They’ve also released a series of Busy Investor Guides, an educational series that attempts to explain how different parts of the YSL.IO platform will work in easily digestible chunks.
Even their referral program is unique in the market! In addition to rewarding the referrer for spreading the word about YSL.IO, even the referee’s are given a 10% boost in earnings just by joining the platform via a referral link.
Optimization and Amplification 💵
Two more unique features that YSL.IO is bringing to the market, the ability to optimize or amplify your yields is what sets YSL.IO apart from traditional yield optimizers.
Depending on whether you’ve joined via a referral link, the funds you deposit into YSL.IO vaults are either boosted by 165% or 170%. Due to the Optimization Boost feature and Strategy 2 Amplification, this number could potentially go further up to 225%.
“What’s optimization? How do I amplify my yield? And why in the world would I not use this optimization boost feature?”, I hear you thinking to yourself. All very valid questions that the YSL.IO team have already covered in their Medium in far more detail than I ever could in this article, so I won’t repeat the information here.
🔥 Check out a step-by-step walkthrough of how each of these features work in their Medium articles: Optimization VS Amplification
What I will do however, is leave this handy summary of how YSL.IO compares against traditional yield optimizers like Autofarm.
- Traditional yield optimizers: 289.51% APY in rewards with 3.4% of your profits charged as fees.
- Traditional yield optimisers: 289.51% APY in rewards with 3.4% of your profits charged as fees.
- YSL.IO Optimisation: 532.62% APY in rewards with 0.3% – 1% of your profits charged as fees.
- YSL.IO Strategy 1 Amplification: 548.76% APY in rewards with 0.3% – 1% of your profits charged as fees.
- YSL.IO Strategy 2 Amplification: 726.3% APY in rewards 🙀 with 0.3% – 1% of your profits charged as fees and 10% of your TVL held as aYSL.
Security 🔐
With all the hacks and exploits that have recently been plaguing the market, it’s reassuring to see the YSL.IO team taking security seriously. They already have an audit done with Solidity Finance, but according to this article, that’s just the beginning. In total, the team intends to have no less than 5 audits.
That’s right. 5 audits! We’re all aware that audits don’t come cheap, but the team is adamant on paying out of their own pockets for a minimum of 5 audits. If you weren’t already convinced, this is just another signal that YSL.IO is a project that fully plans to be around for the long term.
It’s also clear that the developers are learning from other project’s mistakes and taking steps to ensure the same vulnerabilities can never be exploited. To counter the many flash exploits that target a project’s minting function, YSL.IO has introduced the concept of a 90 day vesting period for all minted sYSL rewards.
Closing Thoughts
With the growing number of projects in the crypto space, it’s rare to come across one that is pioneering so many unique features and has the potential to redefine the market norm. Yet, YSL.IO seem well on their way to do just that.
They’ve clearly put in plenty of thought into their tokenomics and have a clear, well defined plan on how to maintain and increase the value of sYSL. This conclusion is backed by models created by a team of data scientists from GotBit.
The team has also made it clear through their actions that they’re here for the long term. 5 audits, 50 AMA’s and an educational Busy Investors Guide series for new investors. I mean… can you think of any other project that can claim the same amount of invested effort before they’ve even launched?
Even when comparing yields, as a result of YSL.IO’s optimization and amplification function, they blow traditional yield optimizers right out of the water.
There is quite literally no other platform like YSL.IO 💎
📍 Follow their social channels to stay up to date with YSL.IO
- Visit their Website
- Read the Gitbook
- Follow them on Twitter
- Check out their Medium
- Visit their GitHub Repositories
- Chat with them on Telegram (English)
- Telegram Announcement Channels: (English)
If you liked the article, check me out here on Twitter and Medium where I write about other crypto topics I stumble across.
Note: The views expressed are my own and should not in any way be taken as financial advice.