An open source project that will be able to edit YouTube videos in the far future! I've already used this to produce some content. ;)
Right now, this is more like a basic animation app - a proof of concept. If this gets enough support, I will consider making this into a full fledged app.

Features:
- Pan and pinch controls
- Insert audio and images on the timeline (text coming soon)
- Import your own assets (imported assets aren't saved)
- Copy, edit, splice and move tracks
- Automate properties over time with keyframes
- Real-time playback and scrubbing

Please note that this is a very early demo. There will be bugs, and there are a lot of unfinished features. Feel free to report bugs in the comments!