BiKiTalk: AMA Recap with Shao Suren, CM of DiFy.Finance (YFIII)

7 min readOct 22, 2020

DiFy.Finance is part of the larger trend of decentralized finance: an industry that is focused on building decentralized financial instruments on top of existing smart-contract-enabled cryptocurrencies. These instruments include cryptocurrency lending, insurance, decentralized exchanges and other use cases.

The YFIII token is the backbone of the DiFy platform. It allow holders to vote on the protocol, access DeFi services and earn extra rewards.

Currently YFIII ranks 531 on CoinMarketCap with a market cap of $9.25 million USD and volume of $3.64 million USD.

On 19 October 2020, we were honored to have invited the CM of YFIII, Shao Suren to an AMA session with the BiKi community, sharing with them about the exciting partnership between BiKi and YFIII! During the session, Shao discussed the problems, solutions and challenges faced by the project during development, as well as what the future holds for them.

Here’s a recap of the AMA on 2020/10/19, 19:00 (GMT +8):

Host: Good evening everybody! Thanks for your support in this AMA. I am Jack and will be the host for tonight’s AMA with YFIII. Let’s welcome our guest, Shao Suren, CM of YFIII.

Shao Suren: Hello everybody 🙂

Shao Suren: Happy to be here ! 🙂

Host: After the AMA session, there will be a Q&A session and our guest will choose three questions to answer, and the selected user will receive 50 yuan worth of YFIII tokens.

Host: Now we shall start our AMA session with YFIII and @Shao Suren please reply with “OK” after answering each question so that I can ask the next question.

Host: @Shao Suren Please introduce yourself

Shao Suren: Good evening and first of all thank you very much for inviting us to your AMA session. My name is Shao and I am part of the DiFy.Finance team. Our team is divided into countries such as China and Ukraine. There are currently 9 people in our team. Of these 9 people, the project is divided into developers, marketing experts and others.

Host: Ok, now please tell us about YFIII project.

Shao Suren: As someone who is very supportive of the crypto industry and decentralized stuff, we decided to follow the Yearn Finance project and make a fork out of it. As a successful project, we thought we could expand the whole idea of it.

Did you know that only few days of our publish project YFIII hit Top 100 DeFi world rank? Currently is up to TOP 50.

Host: Wow! That’s amazing! Next, please tell us what are the stellar achievements of YFIII? (e.g. investments, team members, public interest, celebrity endorsement or anything significant)

Shao Suren: Our project came out on September 22 and had no presale or ICO.

When YFIII came out it cost $ 220 dollars per token but soon after a few days it reached a price of almost $ 1800.

We are very happy to have seen very positive support from the community. Shortly afterwards YFIII entered the top 4 trending search on Coinmarketcap and also number 1 on Coingecko

As we have publish our staking platform few days ago currently we are proud to have more than 1 Million and HALF $ USD staking into our smart contract. People can deposit YFIII and STAKE YFIII with interest rate of 70%

Host: What an achievement in such a short period! And what problems do YFIII solve? Please share with us.

Shao Suren:

Security issues in finance tackled by decentralized blockchain based financial model

Role of centralized entities removed through dis intermediation and smart contracts based decision making

Manipulation by controlling authorities and single point of failure issues tackled through

decentralized governance and distributed architecture

Liquidity in trading activities offered through instant swapping and decentralized market making

Host: I see, so please tell us what makes YFIII different? Why would users choose YFIII?

Shao Suren: YFIII is a project that offers farming and staking, and the staking option is included so that people will be able to supplement their YFIII and earn 70% of YFIII.

The user will be able to withdraw his YFIII at any time and is not limited to locking his funds, which is very important and significant.

The YFIII project is the same one that has passed verification for smart contract audited by the largest cyber security company Hacken .

Very few projects have a smart contract audited and especially from a strong firm like Hacken.

Security is important to our customers and a place where they will invest safely, so we decided to focus on security and legitimacy in cooperation with large cyber security companies.

Host: Ok, why YFIII choose to list on BiKi? What is going to change and improve from this partnership?

Shao Suren: We have chosen your exchange office as a place where we can touch the Asian market in the hope that your customers will be very happy to learn about YFIII.

As one of the leading exchanges on the Asia market such as Biki.com, it is very important for us to cooperate with legitimate companies and make partnerships.

Host: Thanks, and moving forward, what can we expect from YFIII in the near future?

Shao Suren: As a project that has achieved record results in a very short time, we know that it will be the same in the future, and one of them is a big price increase because we have very big plans for YFIII. Just expect the unexpected 🙂

All we can say in brief is that the price will probably go up to $10k per token because we will soon be partnering with the largest crypto payment processor in the world.

We have many options that we are currently working on to improve the farming service and add more pools.

Host: Ok, here’s the last question for the AMA. About YFIII, any other fun facts/interesting comments you might want to add or share with us ?

Shao Suren: YFIII, like the project it is based on — yearn.finance — is built on top of the Ethereum blockchain, meaning that its network is secured by the same hash function as ETH — Ethash. Ethash is a proof-of-work function that belongs to the Keccak family of hash functions.

We want to suggest that our team works very hard every day and we try in all possible ways to maintain the strength of the project and strengthen it in the very near future.

Host: Ok, thank you very much @Shao Suren for the wonderful sharing!

Shao Suren: You’re welcome. Thank you for the invitation.

Host: That will be all for today’s AMA session and we shall proceed to our Q&A session now. @Shao Suren please choose 3 questions to answer.

Community Question 1: Does YFIII have any plans to increase its currency sales?

Community Question 2: What are the differences and commonalities between yfi and yfiii?

Community Question 3: Does yfiii ever do offline events?

Community Question 4: Many DeFi projects are based on the Ethereum chain, and we have also seen serious congestion problems. How will YFIII solve the problems of network congestion and scalability?

Community Question 5: What mechanism does YFIII use to attract investors? What factors enable investors in the later stage to participate actively and believe in a long-term project, thereby further promoting ecological development?

Shao Suren: Investors will be able to earn 70% of their earnings on YFIII staking with us and can withdraw at any time and do not have to lock their funds.

Community Question 6: What is the future development direction of YFIII?

Shao Suren: The future direction is to be a dizzying price, and also one in the top 10 defi projects in the world. Our project has been one of the most sought after projects on the planet for the last 2 weeks.

Community Question 7: What is the biggest competitiveness of YFIII for YFI and YFII?

Community Question 8: Will there be a fork plan for YFIII in the future?

Shao Suren: We have already made for of yearn finance. — This is a fork of Yearn.finance YFI with YIP 8 implemented.

Community Question 9: I heard that YFIII’s fee rate is only half of YFII’s, so how does YFIII realize that users can achieve high income with low fee rate? YFIII has also been greatly simplified, making it easier for users to learn and use, and achieve longer-term goals?

Community Question 10: How does YFIII ensure user privacy and security?

Community Question 11: Can you surpass YFII?

Community Question 12: Where to buy it?

Shao Suren: We want to inform users to be very careful with fake YFIII project. If you ever buy anywhere, always check the contract address, and it is ours 0x4be40bc9681D0A7C24A99b4c92F85B9053Fc2A45

Community Question 13: The total amount of YFIII is only 10,000, which is much less than the other two, how to set it?

Host: The AMA with YFIII tonight has come to an end. Let’s thank our guest @Shao Suren for the wonderful sharing and our translator. Also thank you everyone for your enthusiastic participation.

Shao Suren: Thank you everyone, and for all other information regarding our project and staking options visit our website: https://dify.finance

Register Your BiKi Account here and enjoy the rewards below

YFIII is already listed on BiKi platform on 2020/10/20, 17:00 (GMT +8) and launched the “YFIII Net Buy Competition” and “YFIII Liquidity Mining with Trading Fees 50% Mining Rewards” with bountiful rewards as follows：

💰7000 USDT of $YFIII to be won!
🧧10,000 BIKI to be shared among winners
⛏50% Daily Mining Rewards from YFIII/USDT pair

Take part here: bit.ly/359Bgx2

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BiKiTalk: AMA Recap with Shao Suren, CM of DiFy.Finance (YFIII)

Written by BiKi.com