YSL meaning in Cryptocurrency ?

Answer:

What is YSL.IO?

YSL.IO is a cutting-edge DeFi tool designed to OPTIMISE and AMPLIFY the returns from yield farming platforms, whilst maximising the benefits of LOCKED LIQUIDITY to create a truly unparalleled token economy.

More importantly, all the liquidity that is generated by the protocol will be locked in the locked liquidity contract (ApeSwap Finance) for a period of 1000 years!

We also have a completely unique tokenomic model, where the floor price of our native governance token (sYSL) is tied to locked liquidity! In other words; as the TVL of the YSL.IO platform increases with more users, the protocol will be creating more locked liquidity, which means the greater the price of the sYSL floor price!

How is this different from other yield farming projects?

This integration of locked liquidity within a token economy is unlike any other project and will provide long-term sustainability and value to sYSL token holders - This is one of the main reasons YSL.IO was created!

Unlike traditional optimisers that only harvest and compound interest daily, the YSL.IO protocol has been designed to maximise returns through the creation of YSL-BUSD locked liquidity.

By creating locked liquidity, the protocol is able to maximise the APR (%) of positions held by users on AMMs (such as ApeSwap Finance or PancakeSwap) by up to 300%!

Please explain more about the amplification process?

The second innovative feature is Amplification, which is made up of Strategy 1 and Strategy 2.

Strategy 1 works with the referral program. It will increase the return of any user if they sign up to YSL.IO using a referral link.

To activate Strategy 1, a user will simply need to connect their wallet to YSL.IO using a referral code that was provided to them. When the user does this, the protocol will deactivate the Optimisation function and activate Strategy 1 Amplification. The person that referred the user will also benefit from the same value in sYSL tokens!

Strategy 2 is more advanced, and provides a phenomenal opportunity for users to maximise their returns by 325%. For Strategy 2 Amplification to be active, a user will first need to purchase and hold aYSL tokens equivalent to 10% of their TVL held on YSL.IO. These aYSL tokens will maintain a stable price, 1 aYSL token = $1.00.

What sort of securuty measures have been implemented?

Integrating price feeds by Chainlink: The protocol can better resist flash loan attacks, as their price feeds have proven to be accurate and reliable during extreme conditions and market volatility.

Real-time monitoring of the main oracle price: When there is a serious deviation between the main oracle and the system, the system will alert and notify our development team to ensure timely action.

Prevention of external smart contract interaction: With the recent flash loan attacks on BSC, external smart contracts won't be able to interact with our contracts except for on-chain whitelisted contract addresses.

Smart contract timelocks: Integrated across all our smart contracts, this acts as a guarantee to protect our users and their funds. All changes to any smart contract will be required to wait a certain amount of time before they can be implemented. This allows investors to safely move funds out should they perceive any malicious intent.

Protocol block restrictions: Platform users are not able to perform a deposit and claim rewards and/or withdraw rewards all on the same block, with these functions only being able to be performed by the protocol on subsequent blocks.

reference

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