Math Show Series #029 — Talk about everything with YELLOW
Host Cici:
Hi, everyone. Great pleasure to be here with Burak l Yellow.
Burak l Yellow:
Hi everyone! It is a pleasure to meet you all at our first AMA together!
I am Burak Cem, community manager of Yellow. Here I am to guide everyone into Yellow as much as possible.
Host Cici:
Today we will talk about everything with Yellow.
Our AMA has 2 parts.
1st is the presentation. Burak prepared sufficient content. Then in the second part, we collected some questions from enthusiastic community members. Our guests will answer them one by one.
Participate in this issue of Math Show #028 will get a chance to share the rewards provided by Yellow.
Burak l Yellow:
Let’s go with the first question asked by our community,
1- What is Yellow Network, is it a blockchain and what are the benefits it can bring to Web3 technology?
Answer: Firstly, it’s not a separate blockchain, it’s a Network of brokers operating on the non-centralized state channel solution which is smart-contract based.
Yellow Network builds a channel service that brokers can open liquidity channels by locking $YELLOW to aggregate liquidity pools.
Yellow Network embodies a decentralized Layer-3 peer-to-peer mesh network allowing brokers to communicate, trade, and aggregate the liquidity of connected nodes.
Powered by state channel technology, it enables real-time settlement between brokers on top of a blockchain, thus enabling cross-chain trading without the need to bridge assets.
Host Cici:
2-What is the main problem that Yellow Network aims to solve?
Burak l Yellow:
The problem we aim to solve in the current technology consists of several factors such as Scalability, Decentralization, and security.
Yellow Network solves the problem of genuinely decentralized trading by allowing participants to swap assets across different exchanges without having to rely on block creation. This brings all parties, exchanges, blockchains, and trading firms together, creating a network of brokerages and allowing for more efficient trading infrastructure.
Yellow Network participants hold margin accounts with the clearing house for which they use margin netting, allowing for more efficient use of their capital.
Yellow Network also uses a fully decentralized Layer-3 state channel solution,
that will enable participants to self-custody their assets in their personal wallets.
Transactions between participants are executed P2P without relying on a centralized marketplace.
Host Cici:
3-What is yellow.com — Yellow Exchange and what makes it more important than other CEXs — DEXs?
Burak l Yellow:
yellow.com will be one of the prominent participants in the Yellow network.
While Yellow Network will allow brokers to aggregate their liquidity pools by locking $YELLOW tokens, yellow.com will have access to all these liquidity pools. This means we might find all of the assets in one platform, with their all available chains since yellow Network will bring us the cross-chain utility by the aggregated pools.
Regarding centralization, Yellow.com is not a CEX or DEX alone. Yellow Exchange is a hybrid of both. This hybrid technology brings us the best sides of both, the security of CEXs and the freedom of DEXs.
Host Cici:
4-How can people already start being a part of the Yellow Community and is it possible to start earning benefits?
Burak l Yellow:
I would say, definitely yes!
Yellow Community has grown so fast and strongly even at this early stage. Our members are participating in our activities and contests to enjoy and earn $DUCKIES together.
Everyone is welcome to join us at our weekly quizzes, game nights, Discord Games, and even more!
All you have to do is to keep an eye on our announcement channels to track the next weekly activity with many rewards in USDT and Duckies.
Host Cici:
5-What is the Duckies Platform and its role as $DUCKIES in Yellow?
Burak l Yellow:
The Duckies Platform has been created only for the community. It is a platform where our community members can support us, earn $DUCKIES and turn them into benefits by minting Duckies NFTs or converting for $YELLOW in the future.
Duckies is basically the NFT and token-based reward platform, which features $DUCKIES — a crypto reward token on EVM-compatible blockchains, designed for growing live and vibrant communities.
$DUCKIES tokens are awarded to people for completing tasks set by the platform and inviting friends to grow their community, which can be exchanged for various digital goods, art, and exclusive NFTs.
Also, night games, weekly quizzes and all other events are great chances for earning even more $DUCKIES with the community.
Host Cici:
Then is the 2nd part. We have some questions selected from our community members here.
1. Do you have any ongoing or upcoming reward program events please let us know in detail & do you have any ambassador program as well as your project? More communities hold events to attract more people. That is also the main thing to attract project investors.
Burak l Yellow:
For both questions, yes!
a- While the Duckies Platform is providing us many chances to earn $DUCKIES continuously, we are also having weekly quizzes and weekly game nights where you can start earning $DUCKIES. Afterwards, these tokens can be turned into benefits with ways counted right above.
We are also running a Crew3 activity currently. While first 1000 members will be rewarded in the leaderboard, top — 500 — top 250 — top 100 — top 10 members will be rewarded with higher rewards
b- Regarding the ambassador platform, yes. We will be an ambassador team to represent us in the near future. Our first ambassadors are our earliest followers and supporters, they even have their own role in our community, CREW. The Ambassador program will surely provide benefits and opportunities. Details will soon be announced and revealed.
Host Cici:
What is $YELLOW, is it a token or coin and what are its utilities for holders and brokers?
Burak l Yellow:
$YELLOW is the native token of Yellow Network. Since Yellow is not a blockchain but a network of Layer-3; $YELLOW is not a coin but it is a token.
$YELLOW token can be locked by brokers to aggregate liquidity pools while holders can simply lend their tokens to brokers and start earning passive income from their exchange fees.
We are committed to giving our token simple yet effective utility right out of the gate. Over time we intend to broaden the use of $YELLOW with our partners and more.
$YELLOW token will be providing several utilities in the Yellow ecosystem, such as Network Access, Fee Payments, and Yellow Reserve Vault.
As the tokenomics, there is a 10 billion maximum supply of $YELLOW while the estimated average supply will remain at 1 billion.
Host Cici:
Security is the most important thing to consider when starting up a project. How secure is this project for users and investors?
Burak l Yellow:
User’s assets belong to User’s Metamask wallet address. The platform mostly provides the user abilities to trade on Yellow.com, but the tokens are on the user’s wallet and that’s it. Until hackers can easily hack metamask — we are good.
As for Yellow Network, the required nodes will be set and run on Ethereum Network, since then, the transactions will simply be finalized on the chain’s security mechanism.
Host Cici:
Could you explain to us about the achievements you’ve made as of now and also your objectives for the next year? What are your plans for growth and what are your main goal elements right now? Do you have certain key advantages which you can use to attract users?
Burak l Yellow:
The achievements for this year has been Yellow Network’s development alongside building and releasing OpenDAX v4.0 version ( Opendax is a source Yellow Network will be run through) . Opendax will bring many opportunities since it is now ready to deploy, free to use, easy to set up, run and manage, and allows earning trading fees from end-users.
Besides, the new version of Yellow.com will soon be published and shared with the users on the mainnet of Ethereum.
As for the upcoming months, we are planning to have $YELLOW token launched and have Yellow Network implemented to the current market with brokers.
Host Cici:
Most of the questions people ask in the AMA section are about the strengths of the project. On the contrary I am interested in difficulties and challenges. So what difficulties did the team face while developing the project and how did they overcome them?
Burak l Yellow:
Of course, there have been countless amounts of issues, especially while developing revolutionary technology.
I believe we should better direct this question directly to our technical team on upcoming AMAs for deep details. It is expectative the details from the development side will interest many members here.
From the general perspective, on the other hand, I can say the bear term might have been an issue. We are pleased to share that even in these conditions and at this early stage, Yellow never failed from any aspect/in any plan, and kept building for the determined aim.
