AMA Recap: YetuSwap
- Time: August 18th, 2021 at 10PM GMT+8 (HKT)
- Project name: YetuSwap
- Host: Kristen from BSC Army
- Guest speakers: Euclides Manuel (Founder & CEO) from YetuSwap
- Main content:
- Part 1: Project overview
- Part 2: Marketing Strategy
- Part 3: Business Plan
- Part 4: Community Q&A
Part 1: PROJECT OVERVIEW
1. Would you like to introduce yourself and the project, YetuSwap, to our audience?
Euclides: For everyone that is following right now, my name is Manuel. I’m from angola and I’m the founder of YetuBit exchange. Actually I’m talking with you right now from Portugal. I’ve been in the crypto space for about five years since 2016. I worked on several projects in the crypto space. One of the projects is Luna’s blockchain, it is one of the biggest crypto blockchains in South America, in Latin America actually. In my own country that is Angola, I’m the founder of the bitcoin Angola community that is the biggest and most active crypto community in our country. And I’m also a blockchain developer and that’s what I’m working on right now in the crypto space. Since last year, we have been working on launching our project. It is the year 2 project we already launched YetuSwap and we are aiming to launch our centralized exchange fund that will be the first in the last exchange of Angola.
2. What is the origin of YetuSwap? Where did you get the idea for this project’s name?
Euclides: ‘Yetu’ actually means ‘our’ in Nigeria Congolese languages, those are languages from Africa. When you say ‘Yetu’, you are saying ‘our’, so ‘Yetu coin’ is ‘our coin’. Actually we developed Yetu coin when we saw that many projects in Africa that were coming were not using a cryptocurrency to empower their community so we saw this as an opportunity to develop Yetu coin to empower the community not only from Africa but all over the world. We have people participating from India, Indonesia, Vietnam, Portugal, UK, US, we have people from all over the world participating on the project and we saw them as an opportunity to empower them. And to be originals on the market, we decided to be or to choose to be a Pan-African decentralized protocol, so it means that we will empower the African culture in our protocol. It means that even the coin, even the name, even the design itself, if you go to get the sub.finance you will see some African logos that we put in. So the main goal is to empower Africa using crypto space, this is the main goal of YetuSwap. We have been working on the project for more than one year. When they were only working on the project, we only launched the ICO this year from January. It lasts for about six months and we launched YetuSwap that is the decentralized protocol last month, so right now that Swap is available for staking and farming and very soon we will be available also for our NFTs marketplace and also for lottery. Very soon our community will be able to buy and sell NFTs. Talking about the NFT marketplace, it’s already done and the lottery will be choosing the winners randomly and they will also win $YETU coins. Our project right now has about a 130,000 total value rocket. We are still very early to participate on our project. The token is growing time by time. It’s going in the most sustainable way so we invited everyone to participate in the Yetu project.
3. What are the members doing in your team right now? What are their positions and how do they contribute to the project?
Euclides: Talking about the team, right now we are about 15 people working actively on the Yetu project. We have a development team that I also make a part of where we developed the contracts and everything that is regarding the project development. We also have a designer, we have two designers, actually, working with us on the designer team, and also the community managers. Those community managers are spread all over the world. We have community managers from India, we have from Turkey, we have community managers from Argentina, Brazil and also community managers from Portugal. So here, community managers working from all over the world, and in addition to the court team, we also have local ambassadors in those countries, and in the main country that is Angola we have ambassadors also spread all over the country in different states. Those ambassadors have the mission to teach the local people the potential of approach and deportation of the blockchain technology. Those people, they can join our project and start making passive income without bureaucracy, which is the goal of YetuSwap to empower people helping them to start making passive income without KYC, without need to ask your name, your past your class, there is no these kinds of requirements on YetuSwap. And we also have a marketing team that is working with us with the posts according to the marketing. And also we have our collaborators. So in addition to the core team, there are a lot of collaborators and partners that are working with us in the launching of Yetu.
4. What products and services do you offer to the users, to the market?
Euclides: Right now, we have already launched two services: staking and farming. So our community can stake $YETU coin and earn more $YETU coin or you can stake $YETU coin to earn other currencies. We are also working to partner with another project for the Yetu pools. Actually right now we are looking for NFTs and gaming projects to partner with us. There is a booming happening right now on the gamify space and we want them to join us in our project and we also want to empower our community to earn the tokens of those projects on YetuSwap so very soon we may have and you’ll have some new pools of new partners. The people of our community can stake their tokens and the tokens of those projects. In addition to that, we have also yield farming available on YetuSwap so everyone can have liquidity provided on the Swap and suddenly start mining $YETU coin. And the pen that has the haggis reward here is Yetu BNB. So you have Yetu BNB is the main plan of YetuSwap. We welcome everybody to be a local provider and to swap if you have your coins in your wallet and you want to get some profit. You don’t just want to hold but start making money with those coins. You can add liquidity on your swap and it will help us to increase the total value locked, and of course you will start earning $YETU coin from those, from that liquidity. Those are the above services available right now in the swap. Very soon you will also have the NFT marketplace. We have already developed the contracts of the NFT marketplace. We are only working on the front-end. We want to make something special for our community and even the UI available right now on our website, we will change it, it will not be like that forever. We are working to change the interface of our website so we are working for the end of this month or at the beginning of the next month to have our NFT marketplace raid. Our community will be able to start creating NFTs buying selling NFTs only to swap with $YETU coin and of course this will also help us increasing the token price and making partnerships with many influencers on the space that can come to our project and start selling their NFTs with to our community. Another service is the lottery that will be available also for the community. The winners will be chosen in a random way and everyone can participate in the lottery very soon. The last project that they do launch after those phone that was staking yield farming NFTs and lottery is the launch pad, so our launch pad will launch it and it will be the last one so after you get enough liquidity, enough interaction on the space, you launch our launch pad to empower new projects coming on the binary smart chain. They will be incubated on our project and our community will be able to participate in pre-sales of the hottest crypto projects on the Binance Smart Chain using the $YETU coin itself. It will be available very soon as well and those are the five features that we have on YetuSwap.
5. What makes your NFT project more appealing than the others on the market right now? What makes it stand out so much?
Euclides: Our main focus will be Pan-African NFTs so this swap is a Pan-African project. It will focus on the Pan-African NFTs but of course everybody can post their NFTs. It doesn’t matter if you want to post your picture for travel, you want to sell it or if you are an artist and you created some cool picture and you want to sell it on Youtube. There is no issue with that, you will be able to sell but since our project is a Pan-African project, this will also help us to be original on the market. We will focus more on Pan-African arts so if you are a designer and you want to sell any of this on your swap, I recommend you to start looking for fun African arts, looking for pan African car callers on African artists and see what they are doing and then start developing these skills. So it will help you to sell your arts only at the swap and even we will start focusing on empowered Pan-African artists, doesn’t matter their origin but Pan-Africa artists that want to join, they will be able to sell their NFTs. You can go to many websites that are sending NFTs and we will we may not see too many Pan-African arts Our goal is to go to this market since it is a bridging market and we want to use it to scale our project so this is what will help us to be different and originals on the market.
Part 2: MARKETING STRATEGY
6. Since you guys are focused on the Pan-African community, do you think that you would grow your project more globally into other regions as well or it’s just the African people?
Euclides: No actually, since crypto doesn’t have barriers, we think that we will go fast if we go with all the regions all over the world. In addition to our main group, we also have YetuSwap India that is available for our community, we have YetuSwap Argentina, we have YetuSwap Brazil, and a group of Brazil, Mozambique, Portugal, Angola. There’s only one team from the Spanish countries. We are also focusing on other regions. We are not only in Africa since crypto doesn’t have barriers, we welcome everybody from every origin doesn’t matter what your origin, you can come and join our project and we believe that this will help us to better burden space. Even though there is a right now big trend in Nigeria, we have a big people participating from Nigeria also in our project but we are focusing in all over the world so doesn’t matter you origin you can come and participate on the other project.
7. How would you plan on expanding your community? Do you have any strategy in particular?
Euclides: Actually, we had about two air drops for Yetu coins. The first one was launched in January of this year and the second one was launched in February of this year and right now we are making the distribution of the second round. The second round lasted for about five months and we received about 29 000 participants so we received a lot of participants in our drop. This is also what is helping us to reach big numbers on social media because we are empowering our community through this way and we are also making often giveaways on social media. Especially, on Twitter, so for the guys that want to win giveaways, stay tuned in our social media profiles. We are always making partnerships with a lot of projects in making giveaways on AMAs like that, make giveaways on AMAs on Telegram, making air drops on social media or with influencers on Twitter. We are using this strategy also for our project and for building the communities. Actually, we are more looking for the active members in our community so we don’t go straight forward and build the community as I make it. We see someone that is very active in our communities and then we request this person to help us create a group in their language or their region. This is how we approach building the the local communities of Vietnam with some active members, we request them to build and then if they accept, actually until now all of them accepted to help us building the local communities, and after you approach them you create the group and we help them making the tasks, making the marketing, sharing the group to our main group so people from those countries can join those groups and sub participating and also many of them are having daily voice chat. They deliver on telegram and our community is being very active in all social media. This is how we approach building our local communities.
8. Could you tell us about your tokenomics distribution and its utilizations?
Euclides: Talk about the Yetu tokenomics, Yetu has 300 million maximum supply so in the beginning we only minted 100 million $YETU, a hundred million $YETU, and we distributed 40% for the team and 60% for our community and we already banned more than 50% of the total supply. Right now it’s only in circulation about 40 million $YETU. We burn most of the coin in circulation so right now our community that’s why we will always see the price of $YETU coin going up because we are always decreasing the price of $YETY coin on the market. So talking about the tokenomics of Yetu coin, as I said the maximum supplier of Yetu coins is 200 million. The initial supply is about 100 million. We divided 500 000 $YETU for the airdrop for the first and the second round, and we also divided 3.5 million $YETU for marketing so data point that you are using right now for marketing giveaways social media. We divided a budget for about 3.5 million yet and the reserve fund of $YETU coin has about 16 million $YETU, this is for the reserve fund of Yetu coin 16 million and 5 million Yetu coin that we divided for strategic partnership. So there are a lot of additional partnerships that we will be making and we divided about 5 million $YETU for strategic partnerships and only 15 million $YETU for the development team. The development team has about 15 million $YETU and until now we are following a burning program. We have a partner program so for those that want to know more about our burning program, the article is available on our blog on medium and we already made about five burning sessions and we already burned more than 60 million $YETU and the next burning session will happen on September 1st. So September 1st will be for about two 12 days from now will be the next burning section of the $YETU coin. This voting problem is very important for the holders because the $YETU coin is a project for the long term investors. So for those that want to invest in Bitcoin and are looking for the long term rewards, the burning program is excellent for them and after we finish this voting program, you will create another calendar. So this is not at the end. After this program finishes after some weeks, we’ll create another calendar to burn the $YETU coin. This is the tokenomics of the $YETU coin. I hope everyone understood that but if you want to see in detail the token of sofia to coin there is an article on our blog on medium media.com/yetuswap you can go there and there is a key and there is a section that talks about the tokenomics of Yetu coin.
Part 3: BUSINESS PLAN
9. Could you tell us about your roadmap? How is the business going? Where are you guys right now on the road map? Did you face any challenges in the past and what are the next goals or the next moves in this year for YetuSwap?
Euclides: Talk about the roadmap of our project, we are right now of course enabled and we already completed most of the tasks that are available on our roadmap. For those that want to see, our roadmap is available on our whitepaper, go to yetubit.com and download and this is on section nine, you will see our roadmap. We already fulfill it at the ICO of Yetu coin and we already launched YetuSwap. We are right now working to make strategic partnerships to grow our community. One of the perseveres of our roadmap is to be listed on Coingecko and Coinmarketcap so right now Yetu coin is already available on Incognito and Coinmarketcap and we already made also one task of our roadmap that is to make two video tutorials so there is a lot of video tutorials about you to coin on our Youtube channel. The action documentation is already done, it will be available for the community in a few days and our next goal is to launch the centralized exchange. It’s launched a centralized exchange and to make it we will need to request a financial license in Angola and also in Europe. Our company of the centralized exchange is registered in Angola and also in Europe and we are right now working to request the financial licenses. We will launch our centralized exchange in October, opening to launch in October. Our centralized exchange, in addition, recently, exchange the next goal is also to launch the NFTs lottery launch pad and also to launch our credit cards. We are working to have a cryptocurrency credit card for our community where our committee will be able to to charge these cards with Yetu coin and use it to buy and to buy things online or even in physical stores. This is how our roadmap is working right now.
Part 4: COMMUNITY Q&A
10. What is the main reason for your planning to establish Yetubit CEX beside YetuSwap DEX? And what are YetuSwap ‘s strengths compared to other famous names like PancakeSwap or LZ Swap?
Euclides: So talking about the CEX, actually our goal is to integrate our CEX with our DEX so we don’t want to see discrepancies. We will have, of course, YetuSwap in another domain available for the community but since we believe that with the launch of our CEX we will have more adoption for Yetu coin. There are some people that we may be looking for the five protocols so why not integrate our DeFi protocol with our CEX. So this is what you will do: you integrate our protocol with our CEX and everyone that wants to be a liquidity provider can be liquidated by YetuSwap using also YetuBit itself. It will be possible and I think our strength compared with another project is that, as an African, I think this is the main strength and also our community. We have a lot of participants that are passionate officers and they like our philosophy. They like our way of doing things. They are following every step of the project. They are giving us suggestions saying they are always sending messages about something that we could improve so I think it is being a pundit protocol and also our community and of course the team. We have a bright team working on YetuSwap that has been in the crypto space for more than almost 10 years, working on the crypto space, and already worked on many projects and is an experienced team working to put YetuSwap on the next level. I think those are the strengths of our project compared to other projects available on the market.
11. Do you have any plan of buyback and burn mechanism in order to stabilize or increase your token price?
Euclides: Of course we have a buyback mechanism swap that is available on Yetu farming. This is for all the fees that are being generated on its swap, a portion of that I’ve been using for the buyback program and also after we get enough liquidity, we will start buying itself in the market and start burning as well but right now our burning mechanism is in our burning program. As I said you can go to medium.com, you will read our banning program to understand how the program is working. We are burning Yetu coins on the selected dates. We have selected dates on Yetu coins, you can go and see and of course this is helping us to stabilize the token price. Especially, right now that we are entering the next good one so burning tokens will help us a lot to scale from about one or two months from now.
12. From your roadmap, I could not see anything about the audit procedure. Could you explain if you plan to do it? Do you think the shortage of procedures is somehow subtracting the user’s trust?
Euclides: Actually, there is no other persuasion on the roadmap via swap was updated it was updated certificate is the company that the auditor gets and if you want to to see our audit report just go to certificate.org go to septic’s website and search for YetuSwap, you will find the report that is available for everyone and YetuSwap is secure and safe for to use and we put our report on the if dot finance in a few days. It’s included in our documentation as well so our community and then the newcomers now project. We already see that the project was updated by certi as you may know septic is one of the biggest companies in the crypto space, especially with the projects developed on the Binance Smart Chain.
13. The current price of the token Yetu is much lower than the price in the first ICO phase. Do you plan to attract more investors & increase token value?
Euclides: Our main goal is to have most users so we want to reward our community by locking their tokens on YetuSwap since their tokens are locked on YetuSwap, there is no way for them to sell until they understand their tokens. For that, our goal is to partner with another project so we can mix their communities and we can have new commerce coming to buy Yetu coins and also to have more pools to have and now it will have many pools available on Yetu pools. That is our staking section, so our community will always be able to create a buy pressure for them so always start buying Yetu coin and stake Yetu pools and the price decreases too much, of course, because since april because the one ended and all the prices of all the market declined, they all decreased but right now we are recoveringvery fast and our goal is to reach at least seven dollars until the end of this year. We are working for that, whether we can reach it or not, but we are working hard to achieve this goal so our main goal is to reach seven dollars by the end of the year. And of course as I said on another feature that we are using to increase the price is to win a lot of $YETU as we can so we are burning a lot of $YETU coins as we can so we can start putting scarcity on $YETU coin on the market and also it will help increase the token price on the market on the medium and long term.
14. Could you tell us about Aquisition of Angolan financial license events that has been shown in your roadmap and what will it contribute to your project development?
Euclides: Actually right now the regulators in Angola know about our project. We already had some public and private meetings with them talking about our project explaining what we are doing because the Yetu project is the first project that the Angola regulators are facing or are having this kind of experience. $YETU coin is the first cryptocurrency of Angola, this was posted on the main newspaper TV channels and joiners of Angola so you can go on the internet and write ‘Yetu coin Angola’ and see a lot of materials, a lot of information talking about being the first cryptocurrency of Angola. And of course this is natural because the $YETU coin was born in the biggest crypto community of Angola that I said is the Bitcoin Angola community, the community that I founded five years ago. But right now we are a big team working to increase the crypto adoption in our country and we have already talked with the Angola regulators. We will make the application for our financial license very soon, we are aiming to make it at about the end of this month or beginning of the next month so we just want to make the applications for Angola and also for Europe and wait for the decision from the legal regulators. But we believe that there would not be a big issue if the regulator since they already know what we are doing and they know about it so what they know about the $YETU coin, they know about our community, they know everything regarding our project. Then the benefits of all of this financial license will be very huge for the medium and long term because there are a lot of problems that Angola people are facing right now and we believe that people can solve those issues. One of the problems is that Angola doesn’t have any cryptocurrency exchange local cryptocurrency exchange so YetuSwap is the first project that many Angolan people are participating on the crypto space so we want to launch our sects to increase the adoption of the holland people since Angola has about 30 million inhabitants in the country so you want at least all of them. Of course, if it was possible, but the majority of these inhabitants participate in our project and be also included on the crypto space because the local currency is losing value all over time and this is a financial crisis happening in Angola for about seven years. We believe that crypto can solve a lot of issues that we are facing on the country and of course they will contribute a lot for the $YETU coin price because getting the financial license will make us able to start making direct partnerships with many Americans in Angola local Americans and then they will start using get coin as a mean of payment. You will see a lot of transactions happening of Vietnam in many stores we will use of course and we’ll make a lot of discounts or promotions with those Americans and this will increase the adoption of the Yetu coin and end as well the adoption of the CEX itself so this has the benefits of acquiring the financial license in Angola.
Up to now, YetuSwap has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.
Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.
BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.