YieldShield Internal AMA Recap
Date: 17 November 2021
Time: 3 PM UTC
Guest: Jake Shield (CEO)
Host: James Kulman
1️⃣ Introduction Segment
James: Hi Jake! How are you doing today?
Jake: I’m doing great, still in Lisbon after being at the Solana Conference.
James: Cool! How did it go?
Jake: Went really well. Was exploring the opportunity of adding Solana support in the near future is not an easy task.
James: So please share with us the news, how is the development process going, whether we are all on time, and what are the next steps on the project, etc.
Jake: First of all, we’ve finished our first phase of beta — while a lot of the community has complained about us keeping it CLOSED BETA we believe that it was the right choice — as even with very few participants, we were able to spot some very big holes that would end up being a disaster if we allowed everyone to participate.
Luckily, no money was lost, but indeed there was a lot we were able to learn and therefore, lots of development underway in order to bring the community Beta 2.0
The development team currently consists of more than 10 people. let me remind the community that while this is not a small team, we still believe that we are one of the fastest developing companies in the space, and the product we are building is one of the most sophisticated ones.
There are a lot of next steps, and a lot of improvements, but in general, we are on our way to release Beta 2.0 soon(TM)
Yes, I know that “soon” is annoying, but promising a date and not keeping up the word is even more problematic. so I will stick to “soon”.
2️⃣ Twitter Qs Segment
James: Q1. Can you tell us some of the latest achievements made by the YieldShield project & can you describe in detail the current development efforts, such as market expansion plans, expected applications & new upcoming programs of events?
Jake: Sure. The latest most notable achievement is obviously releasing our first beta version.
The development efforts, as stated above, are mostly regarding fixing some problems we experienced in the first beta, and introducing more efficient ways to automatically farm.
As for market expansion, we are simultaneously working on adding more blockchains, while our app currently supports BSC, we have IMMEDIATE plans to support more networks.
We are also talking to some of the largest VCs in the space, for them to use our Robo Farmer for their farming operations. This means big amounts of capital deployed throughout our ecosystem.
I can’t expose the full program of events but I can safely say there are some very good announcements coming.
James: Great news. Here is the second Q — What criteria does the yield team use to add new protocols and pools? Is the process manual and will it someday be automatic?
Jake: The process is semi-manual, we’ve written scripts that will allow us to scan DEXs (Like PancakeSwap) and farms (like Harvest.Finance) for new pools that are being added, but we still add (and RATE risk level) manually. Since this is very important and we don’t want to make any mistakes — we are going to keep this a manual process for the time being.
In the future we are going to allow anyone from the community to submit new farms
in addition, we will allow the DAO to rank the risk level, instead of us doing it in a centralized manner.
3️⃣ TELEGRAM LIVE Q&A SEGMENT
Q1: You mentioned earlier that your app will protect us against rug-pulls (with Stop-Loss feature). You know, another risk of farming is implement-loss. Does your algorithm calculate this?
Jake: Yes. Actually, the stop-loss function is much more effective against Impairmanent-loss than Rug-Pulls.
For rug-pulls we don’t really have a way except to avoid such projects (projects with no liquidity locked or projects without audit will receive a lower score)
Q2: What does the marketing roadmap looks like and do the yield team intend to share KPI with the community?
Jake: Obviously we don’t intend to share any KPIs with the community, this can only put everyone in a bad light. our marketing team has been working day and night in order to get as many materials ready for real-time.
I know that most of the projects focus on marketing BEFORE they have a product, in our case, we intend to have a product that people actually USE, very soon, so we are saving our big guns for that.
Q3: Why not even advertise your beta while other projects advertise effectiveness testing?
Jake: We wanted to keep the beta within our community with people who know what we’re doing and care about the project. we received a lot of positive feedback.
Q4: Do you think is yield is late to the robot farming market? Why? What set yield shield apart from other tools
Jake: Too late? there is still not even one RoboFarmer in the market that acts the same way as YieldShield. Yes, it’s taking longer than we initially expected, but it's still going to be the ONLY robot that can hop between farms.
Q5: Would be interesting to have key community member roles to vet pools, would really add a social farming spin on it. Is it planned?
Jake: DAO will decide on pools rank.
James: Thanks Jake!
It was a great AMA ✅
Jake: Thanks, everyone! stay tuned! big things are coming.
