#1 Referral Program in Crypto — It's Not to a CEX or Drip by the way!
Nothing against my DRIP friends….but I think I have found a new program that has different incentives that still allow you to make your $10K a month! This path is not through a central exchange referral earning deposit and trading fees either.
However, I first must highlight several things, starting with why I think this project will do very well. I believe they have addressed several DeFi 2.0 challenges and added innovation. I want to get this across first because, if we don't understand its potential, then it is destined to be just another project that has promise, but does nothing.
DeFi 2.0 Challenges & Innovations
So if you're a Degen, let's cover some of the top things we have seen this past year. These communities developed very powerful narratives, like Frog Nation and (3,3) while using innovative concepts. Here are some of my top DeFi 2.0 issues and some positives. [If needing more background into these and other areas I highlight them in my “Rotator Effect” article.]
Issues:
- OHM Folks are leveraging extremely crazy rebasing APYs to lure in liquidity and grow their Treasuries, but not allowing you to sell into that Treasury.
- Tomb Forks create deep liquidity, but relying on the users to maintain that liquidity creating a “Prisoners Dilemma” situation where if I don't sell before anyone else I might be stuck with worthless assets.
Note: If the Share token price goes down to a low level, users start to leave faster and faster.
Note: Users own the liquidity, if peg is lost, users panic because Share token loses its utility, thus sell the Share token…then people remove liquidity, sell 50% of liquidity and then sell the peg tokens
- Mercenary liquidity providers that can remove the liquidity thus causing price stability issues such as crashing the price like Mark Cuban, who held 100% of the LP for Titan before he withdrew according to him his liquidity, before the price went from $60 to $0 (e.g. basically rugging the entire community), highlighted in this Bloomberg article.
- Liquidity Mining programs really don't work due to Mercenary Liquidity Providers with the exploits of Alameda Research with yield extract techniques are more than likely to just sell your emitting tokens and driving the projects token price down.
- User Game mechanics to create incentives to perpetuate the system
- Multiple tokens that don't complement each other through utility
- Tokenomics, chart painting, pump & dump schemes, rugs, scams…
Positives:
- Protocol Owned Liquidity showed that if you maintain your projects' own liquidity, that you are not susceptible to mercenary liquidity providers or are they in need of a Liquidity Mining program.
- Anti-dump mechanics were developed and tested from multiple perspectives (e.g, number of transactions, wallet and liquidity impact).
DeFi 3.0 — Solving DeFi 2.0 Challenges & Adding Innovation
The project I am positive on is known for its Yield, Staking and Liquidity mechanics that create capital efficiency and sustainable yields derived from its ecosystem. YSL.IO, is in the process of releasing their ecosystem that brings several tokens (e.g. 6 to be exact bYSL, YSL, xYSL, BShare, xBUSD and USDy):
- Mechanics to create protocol-owned liquidity (PoL)
- Leveraging Anti-dump mechanics to stabilize price overtime on number of transactions, wallet and liquidity impact restrictions
- Access to sell into a Treasury, at full value and a back-price of 25%
- Perpetual Ratios designed to increase the size of vaults overtime
- Automatic Buy-back systems that harvest yield from external sources and the ecosystem to create buy pressure within the ecosystem tokens & increasing the Treasury every 8-hours.
- Able to automatically stabilize USDy rewards token every 8-hours by 100% controlling the LP, if below it burns USDy if above it deposits BUSD to Treasury by withdrawing and then re-establishing the LP
Best Referral System in DeFi Today:
But the most intriguing utility that YSL has released is its referral system.
- Advantages: you don't need to own any YSL tokens to take advantage of this program (e.g. Great for Influencers with audiences and folks looking for another revenue stream).
- Take advantage of up to 3-down lines (Direct 4%, 2nd - 3%, 3rd - 2%)
- Why would someone use your referral link? To get an instant 1% rebate back on their interactions, deposits and buy/sells on key YSL tokens for their lifetime of interaction on YSL.IO
- Once they use your link their wallet to YSL.IO site it’s linked for its entire life
Referral System by YSL.IO:
For a deeper dive and for getting started, use the below link:
You win when others leverage the YSL platform as seen here:
Note: For the Referee, once their wallet is connected and linked to yours, you earn these % over the lifetime of their activity!
Note: For the Refereed, they get 1% off these transactions over their lifetime! They will not get this lifetime discount if they do not use the referral link.
So now you have a good idea of the power of YSL.IO ecosystem, its mechanics, and how you earn rewards when referrals use the system. So lets look at an example I have structured, based on your success of getting folks to use YSL.
Path to $10K a month:
Here is a sample month, with no incentives and based on this example after 1-month, how close do you think you can get?
After just a month, you're already two-thirds of the way to your goal, and your friends have nearly doubled their earnings by using this conservative strategy with the vaults.
More advanced strategies, I am sure will come out, however like many of you we, are waiting for the system to go live (end of Sep 22) and show us these concepts actually work. But if this example is close, you will have many strategies you can leverage to be earning from the YSL.IO team both directly and indirectly.
So for those interested, consider using my referral link for life-time savings on the actions above listed in Imagine #1:
Referral Link: https://ysl.io/swap/?ref=6460f3396b742623ea39d137
Further Resources about Cyber Strategy Institute and YSL.IO:
If interested in other analysis, checkout my other Medium articles and for more of a daily understanding of the Cryptoverse follow my Twitter account.
Cyber Strategy Institute
Medium: https://cyberstrategy1.medium.com/
Twitter: https://twitter.com/CyberStrategy1
Website: https://cyberstrategyinstitute.com
YSL.IO
Website: https://ysl.io/
Telegram: https://t.me/ysl_io
Twitter: https://twitter.com/ysl_io
Whitepaper: https://docs.ysl.io/overview/welcome
Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. The article may contain affiliate links.
