Ask The Parrot 🦜
1. How do you keep your platform safe for Investors and is your platform guaranteed to be protected from hackers AND what makes investors, customers, and users feel safe when working with Yield parrot?
Safety is priority #1 for us. We are going to be audited before launching and in addition to that, we added extra security to the platform. Investors safety and confidence are top priorities.
Also, it is important to remark that all funds are safe in the blockchain, that is not something we must worry about. Remember that the website is just a pretty face, and all the hard work is on the backend and in the blockchain.
Yield Parrot will be audited before launch and it will also have another audit after launch to ensure its community that they are protected.
2. Every successful project has a few stories behind it, what is the story behind project success? What was that vision when it first appeared as an idea?
The whole team has been in crypto since 2017 where we realized that blockchain is the future. We had all worked with other blockchain projects since then until we decided to put together the best of them and create Yield Parrot. We, as I guess most people here, had a problem… we didn’t know where to put our tokens to have the best APY, we were going through a lot of different token websites to stake them. That’s why our goal is to optimize each vault with the highest APY ever seen without having to over-issue and aiming for the long term by generating new and innovative developments in the DeFi ecosystem.
3. New BSC projects often sound promising until things go wrong like hacks, fraud, etc. In case of that, is there an option that users can interact with BSC and retrieve tokens back without doing it on yieldparrot.finance website?
Yes! Users can definitely interact with BSC to retrieve tokens without doing it on the yieldparrot website. We believe this should be the gold standard for all DeFi BSC projects.
4. What are the reasons why people should buy your token and how will they benefit by holding $LORY?
$LORY is the native governance token of Yield Parrot. $LORY will be in a wide variety of activities within the yieldparrot.finance ecosystem. With our specially designed smart contracts, you can earn extraordinary rewards.
For example, LORY holders will be able to vote and decide the path of the project, they will be able to provide suggestions. On the other hand, LORY will have a buyback and burn system where the holders will benefit from the constant price rise. Our plan is, that in addition to taking advantage of the most modern investment strategies, they take advantage of the constant performance and growth of $LORY. Be ready for $LORY. 👀🚀
5. This project is based on BSC, which is one of the best blockchains currently on the market, do you plan to include support for other blockchains like SOL or ETH?
Of course we do. One of our Road Map bullets is to become a multichain platform.
It is in the BSC we can find the highest APR and Yield Parrot will offer the highest in the market.
Also, as I said, the entire Yield Parrot team has already been part of successful projects. We have very valuable business relationships within the Binance Smart Chain projects and we plan to take advantage of that. We know the importance of top-level partnerships on the BSC and the opportunities that they bring.
But also we know that other chains need help from us to achieve those high APY that everyone knows. That is why we are planning to become a multi-chain platform by the end of this year!
6. What is the total supply of $LORY token?
The LORY token doesn’t have a max supply, however deflationary mechanisms are installed such as buyback & burn and scheduled burns, and more will be coming to ensure the growth of the protocol by safeguarding the value to the community holders. By building these mechanisms we aim, in time, to making deflation higher than emission.