$100,000 Dev Incentives through Avalanche Rush Program; Coalition Forms for YY Swap
Yield Yak users love YY Swap, which finds the best trade routes across the entire Avalanche ecosystem. YY Swap has been used for thousands of trades and handled tens of millions of dollars worth of trading volume. We are humbled by the community’s response to the product.
Our path to create and offer the best dex aggregator is to grow a broad and wide contributor set. Today, we announce that the software is now open-sourced, the software will be maintained by a community coalition and $100,000 in developer incentives are offered for continued product improvements through the Avalanche Rush program.
Innovation through Open Source
YY Swap has no proprietary elements and runs entirely on smart contract execution. This is very unique to YY Swap. All of the dex aggregator logic is handled on-chain in a way that anyone can query and anyone can trade through with no central party.
The advantage of this architecture for applications is that they can develop and deploy their own dex aggregator front-ends, including taking fees. Developers can even build their own versions of YY Swap for specific use cases. In our case, we originally built it to get better prices on swaps handled by smart contracts.
The smart contract code is licensed GPL-3, a copyleft license. We encourage teams to use YY Swap as a base for their own products and give back to the project and community by subsequently open sourcing their own versions of the smart contracts (or using the already-deployed and maintained versions).
$100,000 in Developer Incentives
As part of the Avalanche Rush program, the Avalanche Foundation is providing $100,000 in developer incentives for contributions to YY Swap. Avalanche’s support promotes greater decentralization of the Avalanche ecosystem with a fully decentralized aggregator for all DEX’s on Avalanche. We are proud to pilot the Rush program’s first push for expanding the developer ecosystem on Avalanche.
If you are interested in smart contract development and working with smart contracts, this represents a perfect opportunity to get started. Yield Yak has a welcoming developer community ready to support you in the Yak Devs channel on Telegram.
You can also find more information on GitHub Issues, where eligible issues for bounties are tagged with “AVAX Bounty”. Please direct any questions about the program to the Yak Devs telegram channel.
We are proud to be joined by Avalanche, Pangolin, Trader Joe, Markr, Avaware, Avme, Gondola, Elk, Lydia and Baguette in commitment to the development and maintenance of YY Swap. We join as a coalition in support of a neutral dex aggregator that drives trading volume all over the Avalanche DeFi ecosystem and helps users make the best swaps.
Together, we are stronger and the entire Avalanche community benefits.
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try Avalanche today.
About Avalanche Rush
Avalanche Rush is an incentive mining grant and airdrop program with up to $180M in AVAX tokens from the Avalanche Foundation that seeks to deploy decentralized finance applications on the Avalanche platform. The program objective is to empower new and existing DeFi traders with easy-to-use, fast, and cost-effective applications.