2020-10-06 YFII Tuesday

Host: Star
Guests: Cao Yin, (爱的印记), Ron, Tony (谷涛), Gao Jin, Huang Gang, Xiaoqing

  1. Itoken’s vision and progress

The YFII vault pool is similar to a on-chain bank. itoken is a deposit certificate, representing token and financial (mining) income, so the value of itoken will continue to increase.

On the one hand, it is actively seeking cooperation with mainstream international defi platforms, AAVE, Compound, etc. On the other hand, itoken is dedicated to support the domestic defi ecology by cooperating with each other, for example, s. finance and sakeswap . s. Finance will soon support itoken mining after the festival.



  1. How does YFII’s APY position in the industry face the decline in liquidity mining?

In terms of long-term lossless mining standards, YFII has the highest rate of return, and the stable APY is: 15%~20% (far higher than the wealth management income on the YFI platform).

For similar platforms, such as YFV and Harvest, the return rate is higher than that of YFII. However they both adopt dual mining, coupled with its own token mining, is not sustainable. In addition, the price of new project tokens fluctuates greatly, so the actual rate of return is often lagging. In the current market situation, the rate of return is constantly falling.

Other high-yield platforms are LP mining coming with impermanent losses.

YFII pays attention to the safety of funds. All YFII valut contracts have been audited by third parties inside and outside the community and no security incident has occurred.

All front-end and back-end codes are open source on Github, and you can track the development progress and workload of the YFII community by yourself.

In general, the YFII valut is characterized by lossless mining, no capital ceiling, multiple currencies to choose from, balanced and optimal security and returns.

以长期无损挖矿的标准来看,YFII的收益率是最高的,稳定年化是:15%~20% (远比YFI平台上理财收益要高)。




  1. The status quo of cooperation between our old comrade-in-arms Sake and sfg ?

Sake has the characteristics of limited total currency supply, mining via transaction, slippage capture, etc. Sake has a team like us. Both of YFII and SAKE are independent projects, and we can act like brothers. For example, if you are trading on a decentralized exchange, buying YFII on Sake with ETH will enable you get more YFII than buying on platforms such as UNI. Yes, of course this is also closely related to its pool depth, slippage capture and profit sharing mechanism. Now we are also exploring the cooperation space in technology and community.

Regarding sfg , it is deploying the itoken trading pair that supports YFII. Itoken, an interest-bearing asset, is very important for our future development of defi Lego, and the itoken transaction itself is a recognition of the value and reputation of our products.


  1. New Development of YFII’s DAO Governance

Compared with western world, the domestic community governance culture and habits are still relatively weak, governance is a project, and YFII has just begun. Maker’s governance is relatively successful, YFII can learn from it, and gradually form a unique governance of the YFII community, cultivate governance talents in the YFII community, and continuously promote the development of YFII DAO and projects.

At present, YFII’s community governance foundation is still relatively good. There are IM tools such as WeChat groups and Telegram groups to discuss ideas, as well as community forums and Yuque , kinda like gitbook, to conduct formal discussions, and proposals and votes using snapshots. Finally all the above are developed and implemented by YFII dev-team, and publicized by the propaganda team.YFII has formed a set of governance processes. In addition, governance is a process, not a result, and requires continuous improvement.

对比国外,国内的社区治理文化和习惯还是比较弱的,治理是个工程,YFII才刚刚开始。Maker的治理比较成功,YFII可以借鉴,并逐步形成YFII社区独特的治理,培养出YFII社区的治理人才,不断推进YFII DAO和项目的发展。

  1. The new cooperation that YFII is currently advancing and the collision of new views and new opportunities.

Swerve:Build ipool to support itoken

s. finance:itoken mining will be launched soon after the festival

Near:Silicon Valley’s most watched new public chain , which has a division of labor with Ethereum. Through the Rainbow Bridge cross-chain, it can interact atomically with assets on Ethereum. Community development is testing and deploying the YFII valut on Near.

Reminder: None of above related serve as investment advice

Any community member who feels that he has the resources and abilities can contact external projects and platform cooperation. The YFII community is an open community. All members are welcome to actively participate, express their opinions and ideas, and form proposals and votes after full discussion, and finally realize their ideas.




  1. Has YFII encountered any difficulties recently? Is there any experience in the exploration?

YFII lack for developers. Only two technical masters, Gao Jin and Minako Kojima, are writing contracts. The front-end talents are also relatively short, and more people are still needed to participate to improve our development efficiency.

In terms of operations, we also have the problem of talent shortage and brain drain. Due to the imperfect incentive mechanism, the difficult workload of DEFI education in Chinese communities is relatively large, the recent currency price is unstable, and the flow of information is not smooth. The operation of the community is also facing the challenge of a shortage of talents, and we are also thinking about related incentives.

Regarding prices, to put it simply, we are a long-term project, and the bargaining chips are relatively scattered. What we can do is to do things steadily and make up for the homework that needs perfection. For example, in the area of governance, from initiating discussions, to proposals, to whether to become a policy, a multi-level, multi-stage, credible and reliable governance system is formed, and more people are attracted to participate in specific affairs. For example, to do a good job of our ecology, to have a first-mover advantage over other projects. In the face of sluggish market conditions, we do things steadily


  1. Recruitment of new volunteers for YFII

We are looking forward to your participation in the development group, operation group, etc.

Scan the QR code published by the community and add WeChat robot assistant, or directly communicate with the administrator of any community. The related work of community operation mainly includes: Community operation, event operation, forum operation, poster design, social media operation, translation, video production, emoji production, etc.