[Alison TrueUSD]
Hi everyone, and welcome to a new AMA on TrueUSD Community!
Today we will be having Yield App as our guest with Tim Frost CEO and Founder of Yield App.
[Alison TrueUSD]
Tim, good to have you here, how are you doing today?
[Tim Frost YIELD App]
I am doing wonderful. Its a great day in Bangkok and we are glad to be here and supporting the TUSD ecosystem grow.
[Alison TrueUSD]
And we are glad to have you with us! We’re very excited to learn more about Yield App!
[Alison TrueUSD]
Let’s dive right in, question 1
1. What’s the story behind Yield App & the team?
[Tim Frost YIELD App]
The vision behind the launch of Yield App was to provide customers in all corners of the world with the opportunity to earn high yields on digital assets in a simple, secure and intuitive way. I wanted to build a digital asset platform that had a real purpose and a place where people wanted to allocate their money and grow their wealth.
Since launch in February 2021, we have exceeded our own expectations, growing to nearly 80,000 customers and now managing more than $500 Million in assets. We offer stablecoins, BTC and ETH portfolios, allowing our customers to earn market-leading annual interest rates at the touch of a button.
Yield App is managed by a world-class team with a strong background in traditional finance, technology and digital assets. I myself was part of the original team at Wirex, where I ran marketing, business development, and some operations. I then left Wirex (4 million clients) to start a consulting firm in 2016. I worked closely with Paxful, NEO, QTUM and dozens more during this time. Yield App is now my 3rd fintech startup.
Justin Wright, Yield App’s COO and CFO, also has a deep background in capital markets, traditional finance, fund management and fintech. And of course our Chief Marketing Officer, Adrien Geneste, who now has close to a decade of experience managing the growth of some of the fastest growing startups in the industry.
[Alison TrueUSD]
This is great! Lots of talent in the team as we can see!
2. The next question we have is how does the platform work & who is it for?
[Tim Frost YIELD App]
Yes we have put together a world-class team on all levels.
We are offering up to 14% APY on TUSD.
Yield App was designed for everyone, everywhere, aiming to really democratize finance and make the attractive returns from digital assets available to the whole world. The minimum deposit on the Yield App platform is just $100 and it is really simple to start earning interest on your digital assets. However, we also have a dedicated relationship management team who help to onboard clients with larger portfolios. As such, we serve a wide range of customers, including a growing number of institutional clients.
At the heart of our ecosystem is our native YLD token, which allows our customers to progress through our Tier system — from Bronze to Diamond Tier. Diamond Tier members earn the highest annual rates, as well as the highest Tier Bonus rewards.
[Alison TrueUSD]
You can start right here ➡️ https://www.yield.app/
3. Ok, let’s go onto our next question for you Tim what makes Yield App different from other platforms?
[Tim Frost YIELD App]
We offer marketing leading rates on your TUSD, BTC, ETH, and other stablecoins with a simplified and secure digital asset experience, where customers can earn high returns on a range of portfolio strategies using their preferred digital currency, without the need for specialist knowledge and without the high fees an individual would incur through trading. We hope to encourage everyone to become interested in digital assets and the potential they offer. Likewise, we also seek to raise digital asset awareness through informative articles on our blog and our interaction with the community, like this one. So thanks again for having us on this AMA!
[Alison TrueUSD]
Of course, we love to have partners as interesting and proactive as yours!
4. Now that we know more about Yield App, my next question would be why did you decide to add TUSD to your list of assets?
[Tim Frost YIELD App]
Having had a chance to meet your team behind True USD and knowing it is one of the most secure stablecoins in the market it has been a no brainer to add support. Our team is always looking to facilitate the deployment of assets for our customers. This is done in many different ways, one of them being the addition of available assets on the platform. TUSD has a proven history of being a reliable stablecoin and our customers have been requesting it for a while now. Our goal is always to find the right balance between what our customers are asking for and the feasibility of those actions, especially in terms of security and long-term stability of the said assets. The decision process might seem a bit long to some but as we always say, security comes first, and in the financial world nothing should be rushed.
[Alison TrueUSD]
And it was a no-brainer for us to also partner with you and your team, as you say security and reliability are key elements, and Yield App offers those 2 aspects so well done team 👏
[Alison TrueUSD]
5. Moving on to our next question, how do you make decisions with regards to adding specific digital assets and blockchains?
[Tim Frost YIELD App]
We have a strong due diligence process, which is applied to all assets we consider for the platform. Our DeFi team utilizes an internal proprietary risk model that focuses on four pillars of safety, a sum of 128 measured variables compiled through historical data. We only ever deploy assets into well-proven protocols which have undergone full due diligence and ensure our portfolio strategy remains highly diversified at all times to limit unexpected loss to a minimum.
Overall we listen to our community and add the assets we are confident will be here for the decade to come and of course we can offer attractive products around the assets. Naturally we see the adoption of TUSD only growing stronger.
6. The combination proves to be working so far! Now that we have talked a bit about what Yield App is and why we are partnering today, my next question is about the future: what plans does Yield App have for 2022?
[Tim Frost YIELD App]
We started the year with the launch of Version 2 (V2) of our platform, which was highly successful and brought many innovations that our community has been asking for, including conversions between assets on the platform, staking and locking for our YLD token, and enhanced security features.
This was a huge step forward for Yield App, but it’s only the very beginning of a long marathon of innovations and developments that we are planning for 2022. We have ambitious plans for the rest of the year. We have already begun internally testing our app and should be releasing it on both the App Store and Google soon. We are confident this will be a major improvement and will facilitate the adoption of digital asset wealth management by a broader audience. This will be supported by the upcoming launch of a referral program in the near future, which I know our community has been looking forward to. We also plan to integrate new blockchains and assets, so watch this space. As you see, the market might be having a rest, but we’re not!
[Alison TrueUSD]
Restless and very promising as we can see here!
Users can keep up with the next steps of Yield App on their twitter https://twitter.com/yieldapp !
[Alison TrueUSD]
We have a lot of answers about Yield App so far, thank you Tim! Let’s dive a bit more into Stablecoins in relation to Yield App
PART 2: STABLECOINS
1. The first question would be why are stablecoins such a key part of your offering at Yield App?
[Tim Frost YIELD App]
Risk is the answer. Or should I say risk reduction? Stablecoins are the least volatile of all digital assets, and are therefore a great alternative source of reliable passive income, especially during times of market volatility such as we are experiencing today. With Yield App serving individuals but also businesses, we need to have a strong focus on offering low volatility solutions. Stablecoins offer just that to businesses and corporate clients looking for treasury diversification and digital asset exposure while maintaining a fiat-like level of stability.
We also see stablecoin adoption to continue to grow as the utility grows with this outside of crypto trading.
[Alison TrueUSD]
Risk reduction is a key element indeed!
[Alison TrueUSD]
2. My question following your answer is why are stablecoin strategies particularly attractive in the current environment of high inflation, rock bottom interest rates and bear markets?
[Tim Frost YIELD App]
They offer protection from volatility at a time when other digital assets suffer significant falls, while allowing you to continue earning market-leading rates and grow your wealth. Today, inflation in the US is nearly 8%, and in the Eurozone it’s nearly 6%. Bank savings account rates remain at rock bottom, and markets are down, so savers don’t have many places to hide. Stablecoins offer an alternative route for wealth creation in these conditions.
Of course, it’s important to remember that stablecoins are a lower volatility alternative, but they are not without risk. The golden rule is to never allocate assets you cannot afford to lose to digital asset strategies and always keep in mind the potential risks.
[Alison TrueUSD]
That is a great explanation! I’m sure most users will agree with this rule
3. Continuing on this topic, how can stablecoins fit into an overall digital asset strategy?
[Tim Frost YIELD App]
Stablecoins can help mitigate the volatility of other digital assets, such as Bitcoin and Ethereum, especially during bear markets. Having a portion of one’s assets in stablecoins can help reduce losses, and of course the added passive income available through stablecoin strategies such as Yield App’s means your assets still work for you every day. Stablecoins also fit in perfectly in a corporate digital asset strategy, allowing our clients to earn strong passive income on their corporate treasury assets, helping them beat rising inflation and providing diversification for their portfolios. In summary stablecoins should be part of every crypto holders portfolio in all market cycles.
[Alison TrueUSD]
4. Speaking of holding stablecoins in all market cycles, could you tell us why your customers should consider diversifying their portfolios with TUSD?
[Tim Frost YIELD App]
TUSD is the fourth stablecoin to join our offering. We think it’s great to have the option to diversify your portfolio with different stablecoins. They may be pegged to the same fiat currency, but diversification allows you to spread and reduce risk and is a key element of any successful investment strategy. So we are very pleased to offer TUSD on our platform, and customers can earn the same market-leading rates of up to 14% p.a. on TUSD as on other stablecoins on Yield App. For anyone holding stablecoins they really should look at the company and people behind the token. In the case of TrueUSD we believe it’s a rock solid setup and team.
[Alison TrueUSD]
And once again, users can visit https://www.yield.app/ to start their journey with Yield App and TUSD!
[Alison TrueUSD]
5. The next question we have in mind is what do you see as the key catalysts for mainstream adoption of digital assets?
[Adrien YIELD App]
Hi, Adrien here, CMO at Yield App, I’ll take that one !
[Alison TrueUSD]
Hi Adrien, you have the floor!
[Adrien YIELD App]
Thank you Alison!
There are a few different angles to consider answering that question. One of the first ones is of course making sure we keep educating people and businesses about the space. For us, working in the digital assets space, stablecoins and digital assets in general seem so simple. But dining out with some friends who work in more traditional industries is always a good reminder of the huge amount of work that still needs to be done. Many of them still do not fully understand the possibilities digital assets can bring, and most of them have never even heard about stablecoins and how they can facilitate their first steps into this space.
So yes, constant education along with a top notch customer experience, real life use cases and constant facilitation of fiat on and off ramps are key for the year to come.
[Alison TrueUSD]
I am completely with you on this one, and education makes a great difference!
6. Keeping on the topic of digital assets, which developments are you most excited about in the digital assets space?
[Adrien YIELD App]
That is a very good question.
Truth to be told, considering the current situation, I am not sure “excited” is the right word for my answer, but I can say that what is currently happening in the world and the obvious role digital assets have to play in today’s geopolitical backdrop is very eye opening. We are seeing governments and people turning to digital assets to gain security or to simply continue being able to use their money on a daily basis when fleeing conflicts or to gather donations. This is, despite the horror of the situation, probably the biggest proof we have ever seen of the fundamental use case for digital assets.
[Alison TrueUSD]
We have indeed seen the interest and use of digital assets increase quite a bit in these recent times and as you say, despite the situation it develops from, it shows the need for those
[Alison TrueUSD]
Thank you Adrien for answering those questions, they were the last ones on my list
[Alison TrueUSD]
Would you like to add anything?
[Alison TrueUSD]
I would like to remind the users of the social media and website of Yield App, don’t forget to follow for all the latest news and to see what is coming next 😉
Twitter: https://twitter.com/yieldapp
Telegram: https://t.me/yieldapp
Website: https://www.yield.app/
[Adrien YIELD App]
Pleasure to have TUSD available in Yield App, really. We’re having eyes on TUSD for a long time. There’s a great community and it literally is one of the best stables in the space. So great achievement for us. Thank you for your time !
[Tim Frost YIELD App]
We invite you to join our community and learn how to take the most advantage of your TUSD. Thank you very much for having us today and looking forward to working closely together.
[Alison TrueUSD]
Thank you Tim and Adrien for a great AMA, we look forward to developing this partnership even more!
