Recap of the Yield Parrot AMA with Blockchain Space
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On Wednesday, June 23rd, we had the pleasure to welcome to our Telegram chat:
Yield Parrot Alpha Amazon, The CMO of Yield Parrot.
We asked him questions about the development of Yield Parrot.
INTRODUCTION
Q~ Thanks for joining us. Introduce yourself and your function in the team to the blockchain space community ?
A~ I’m Yield Parrot Alpha Amazon, CMO of Yield Parrot. I’ve been in crypto since 2017 as the whole team where we realized that blockchain is the future. I personally have been working for other projects with blockchain since then until the team and I decided to put together the best of them and create Yield Parrot.
Q~ What is Yield Parrot all about, and of what added advantage is Yield Parrot to entire blockchain industry and its users ?
A~ Yield Parrot is a state-of-the-art yield aggregator & optimizer built in Binance Smart Chain. At yieldparrot.finance users can find the best opportunities within the DeFi ecosystem, with a world-class vault offering, fully optimized smart contracts, and a renowned partnership plan.
Our goal is to optimize each vault with the highest APY ever seen without having to over-issue and aiming for the long term by generating new and innovative developments in the DeFi ecosystem.
Q~ Briefly drive us through the use cases, functionality and tokenomics of $LORY token ?
A~ $LORY is the native governance token of Yield Parrot. $LORY will be in a wide variety of activities within the yieldparrot.finance ecosystem. And with our specially designed smart contracts, you can earn extraordinary rewards. For example, LORY holders will be able to vote and decide the path of the project, they will be able to provide suggestions. On the other hand, LORY will have a buyback and burn system where the holders will benefit from the constant price rise. Our plan is, that in addition to taking advantage of the most modern investment strategies, they take advantage of the constant performance and growth of $LORY. Be ready for $LORY.
Ticker : LORY
Chain : BSC — Binance smart chain
Format : BEP20
Contract: Will be posted tommorrow
LORY rewards distributed to Space Vaults : 0.24986 LORY per block +10% reward to YieldParrot dev team to ensure the growth and sustainability of the protocol
Total: 7915.654 LORY per day.
The LORY token doesn’t have a max supply, however deflationary mechanisms are installed such as buy back, scheduled burns and more will be coming to ensure the growth of the protocol but safeguarding the value to the community holders. We aim in time to making deflation higher than emission by building this mechanisms
Initial Supply: Will be posted tommorrow
38.3% Loked Liquidity
40% Presale
10% Marketing
5% Team & Devs (locked)
3% Advisors
2% General Reserve
Q~ Did Yield Parrot team raise funds so far? If so, how did you handle them? Are you planning to do any future raises ?
A~ Not yet, that’s the best part. Our first and only raise of funds will be on BarbecueSwap IGO on this June 25th. Yes, in 2 days!! That will be the lowest price you will be able to find LORY and it is an excellent opportunity to be the first ones!
You can take part on this link!
https://app.barbecueswap.finance/ifo
Also, you can check the countdown on our website!
Xiaolin : What’s an IGO ?
Yield Parrot Alpha Amazon : In this case, as it is on BarbecueSwap it is called IGO — Initial Grill Offering
We will be doing our Presale on hands of BarbecueSwap to give our community extra confidence.
You can check our medium post where we talk about why doing the IGO on BarbecueSwap
New Partnership and IGO with BarbecueSwap Finance 🍖🦜
Why BarbacueSwap Finance🍖?
yieldparrot.medium.com
In only 2 days everyone of our community will be able to participate!! Take adavantage of this!!
Q~ What are your preferences-based planning for the 2021, did you achieve any goal so far and how can the community partake in such development?
A~
We invite you to take a look at our medium post to take a deeper look at our future plans!
Remember you can buy LORY at the best price ever in our IGO! This will be the best opportunity ever!! Take advantage of it!!🦜🦜🦜🚀🚀🚀🔥🔥🔥
QUESTIONS FROM TELEGRAM
Q~ STAKING is GREAT
Do you support STAKING and FARMING for investors ?
A~ We know that staking is one of the best things that all DEFI projects have, that is why at yield parrot we decided to optimize this as maximum as posible! In Yield Parrot you will be able to stake your favorite tokens with APY much higher than anywhere else. At Yield Parrot we are lovers of staking and we want to share them with you!
Not only will you have incredible APYs and you will receive the original token, but you will also be able to receive LORY rewards and then convert them into BNB.
Q~ As an investor, how can I be fully confident when investing in you and what about the tools you use for the security and transparency of the project?
A~ Of course all our contracts are public. Besides this there will be Audit before launch and after that we will be looking for a second one in order to give our community as much confience as we can.
Regarding what you say: It is the ecosystem’s need to provide security and trust. It is a priority for serious projects to distance themselves as much as possible from all the evils that the DeFi space has. How do you do that? Auditing as much as possible and being transparent with everything.
Also, as all of the team had worked before with other big projects, we have good relation with them and we will be doing partnership with some of them in order to give our community more confidence in this matter. Also these partnerships will make Yield Parrot fly even higer that you think! Stay tuned for all new news.
I invite you to check our medium where we explained why doing the IGO on BarbecueSwap… Security one of the principal reasons.
New Partnership and IGO with BarbecueSwap Finance 🍖🦜
Why BarbacueSwap Finance🍖?
yieldparrot.medium.com
Q~ Yield Parrot doesn’t have much information yet, so can you tell us when will you provide your Whitepaper or documents ? Also can you explain us what is your mission and long term vision?
A~ As soon as we launch you will be able to see our docs on website. But also you can check our medium where we are posting all important information for the earliest investor who would like to participate in the IGO, the day after tomorrow.
Our goal is to optimize each vault with the highest APY ever seen without having to over-issue and aiming for the long term by generating new and innovative developments in the DeFi ecosystem.
This means for example… do you have CAKE token? well on Yield Parrot you will be able to Stake CAKE with the better APY and also you will recieve LORY tokens that then you will be able to stake them and earn BNB.
Q~ In the future plans of Yield Parrot, becoming a multi-chain platform called my attention, what would be the next blockchain you support, and when could we expect it?
A~ That’s right! We are expanding to become a Multi-chain. We are planning this event by the end of 2021. As you can see on our RoadMap, It is our last objective for this year and we have lot of other steps to achieve before. But that is not because it’s the least important, indeed it is one of the biggest plans we have! But we would like to become a strong Aggregator & Optimizer in the Binance Smart Chain before we become Multi-chain.
Q~ According to Yield Parrot, there are no cap on the total supply of $LORY token. I would like to know the reason for minting an infinite amount of $LORY and the features put in place to prevent rugpull and massive dumping of this token.
A~ Very good question! And of course we would love to answer it! At first it looks like an infinite amount of tokens, but the thing is that the rewards of Yield Parrot itself will be used to BuyBack and Burn! Thats right! So at first it will be some constant emission, that indeed it is very low (0.24986 LORY per block) but then, when TVL starts to grow, It will become a deflationary mechanism because of the buyback that we will be doing! So price of LORY will be increasing constantly over time! This is really amazing. We will be taking advantage of other projects vault to give better APY and to increase LORY price.
Also, for preventing rugpull and bad actor we will be doing all of what our community ask of us. We will be audited two times! And also we decided to do our IGO with barbecueSwap to give more security to our community! Take a look at our medium post where we talk about it!
New Partnership and IGO with BarbecueSwap Finance 🍖🦜
Why BarbacueSwap Finance🍖?
yieldparrot.medium.com
CONCLUSION
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It’s really nice having the Yield Parrot project in here!!!
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