On Oct.19th, Slope Finance was pleased to invite the Solyard Finance CMO Chris to Slope Telegram Community to share how Solyard waded in the Crypto market.
Q1: Can you start by giving our community partners a brief introduction to the Solyard project from your perspective?
A: Solyard is a leveraged mining and liquidity pool mining in Solana ecology, a platform that integrates liquidity mining pool, tethering, and leveraged mining to provide users with a variety of investment portfolio tools, where users can experience Defi products such as mining, lending and aggregate income while providing users with higher than market level mining returns.
Q2: Can you introduce the background and story of Bolyard’s team?
A: Solyard team currently has 9 people, including 5 in the development team and 4 in the operation team. The team is a distributed office, located in China, New Zealand, Japan, and Hong Kong. The development team members all have more than 3 years of blockchain development experience. In the initial stage of the project, we had planned to release our leveraged mining platform on top of BSC, but after evaluation, we finally chose Solana ecology and completed the product solution and code development within 1 month, and had cooperation with Slow Mist in June 2021 to complete the contract code of Solyard Audit.
Solyard Beta version started in June, after 3 version iterations, the official version is awaiting to go live, please stay tuned.
Q3: Why did Solyard choose Solyard to build this chain, and did the recent downtime have any impact on you?
A: Like most users, we were attracted by Solana’s TPS and low fees. In BSC, it currently costs about 4U to make a reinvestment, while the fee in Solana is as low as 0.05U, which greatly reduces the user’s Gas cost and also increases the user’s revenue.
At the same time, being from a technical background, we were attracted by Solana’s novel development language and optimistic about the future development of the Solana ecosystem, and for all these reasons, we finally chose Solana ecosystem to release our product.
Regarding the recent problem of Solana node failure, Solyard, as a member of Solana ecology, has of course been affected to different degrees, including the bug that users can’t take and unstake in the Beta version that has already been solved. After this test, we believe the Solana ecosystem will gain much more traction in the future.
Q4: Solyard tokens are now launched, how far has the development of the product progressed?
A: As mentioned in the answer above, Solyard completed the development of the Beta version of the base liquidity mining pool product code at the end of May and went live for a trial run for 3 months starting in June 2021. During the trial run, several features of the product were optimized and the audit of the contract code has been completed in July and the base liquidity mining pool feature will go live in the forthcoming days.
The development of the lending and leveraged mining platform has been completed and internal code testing and contract code auditing work is underway. It is expected that the lending and leveraged mining functions will be opened gradually in October.
Q5: How is the security of Solyard mining guaranteed and what audits are in place?
A: Solyard always puts the safety of user assets in the first place. Solyard code, before going online, has undergone strict code testing work to ensure the safety of user assets.
At the same time, Solyard’s contract code has been audited by Slow Mist, and the audit report can be viewed on the bottom left corner of the official website. In the future, we will still cooperate with more and more authoritative security agencies to ensure the safety of user assets.
Q6: Can you tell us about Solyard’s investment lineup and partners? How do these partnerships work?
A: Solyard completed its Seed and Private rounds in August, with a funding amount of approximately $3M. The investment institutions are all overseas investment institutions, such as Arcuate Capital, BH Private, DCI Capital, Insignis Capital and many others.
We have nailed down partnerships with several projects on the Solana ecology, including the lending platform Acument. After YARD goes live on DEX, Acument will support the lending function of YARD tokens.
In the future, we will actively expand the project ecology and maintain regular interaction and cooperation with other projects in the ecology.
Q7:The concept of NFT and metaverse is undoubtedly a hot-button topic in 2021, what will Solyard do in this sector?
A: NFT and metaverse are certainly the hottest topics in the crypro circle, attracting a large number of users outside the circle, and more NFT-themed projects have emerged in Solyana ecology, Solyard product and technical teams are also actively learning from the experience of other projects, and are also actively communicating and collaborating with NFT projects, I believe that in the future, there will be detailed plans from us.
Q8: Now DeFi is being attacked and hacked frequently, does your project have any consideration in this regard or has it implemented any plan?
A: this is a good question, as I mentioned above, Solyard will be incredibly concerned about the security of users’ funds, the security of funds is put in the first place, Solyard’s current code has been audited by Slow Mist, and we will cooperate with more professional security audit team to guarantee the security of user’ funds such as Certik.
Q9: Are you only on Solana? Will the mining pool be deployed in other chains later?
A: At this stage, we will first thicken the foundation in Solana ecology, BSC and ETH we have completed the development, will launch cross-chain at a right time, please stay tuned!
Q10: Will solyard liquidity mining consider cooperation with other projects?
A: After the product is launched, we will cooperate with several projects, DEX in the Solana ecology will be our potential partner in the future.
Community Live Questions:
1. Can you give an overview of your Tokenomics and the UTILITY of Token?
A: Our total supply is 1 billion and the current circulating supply is 50 million. The Utility is LP leverage mining, Staking, Participation in Governance.
2. When can we expect the listings of your token in PancakeSwap? Will you list your project in Uniswap too and integrate your project in other blockchains as well?
A: Our token is already listed in MEXC as well as Raydium and few other DEXs as we are on the Solana Ecosystem
3. What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
A: We have some huge plans as we go down the road, more plans and partnerships will be announced.
4. Since NFT is popular nowadays, is there a plan for NFT integration?
A: We are focusing on liquidity mining for now, but once we achieve our goals we will definitely keep pace with the market needs and trends
About Solyard Finance
Solyard Finance, the new leveraged yield farming on Solana helps lenders earn secure and stable yields, and offers borrowers undercollateralized loans for leveraged yield farming positions, vastly multiplying their farming principles and generating profits.
Partners：MEXC Exchnge , Slow Mist , BitKeep Wallet
Token Listing: MXC (Successful IEO Done), Raydium Dex( https://raydium.io/swap/ammId=GbhbJ2pcjYfAVj3ikYBbjbJHdER4yJMyAf3Mxm7DymrH )