yyAVAX launches with capped 100K yyAVAX token Opening Ceremony

yyAVAX: Liquid Staking from Yield Yak

TL;DR

  • 100K yyAVAX will be available to be minted for AVAX starting at a ~1:1 ratio
  • yyAVAX holders will immediately start earning yield generated from the Avalanche P-Chain.
  • DeFi utility and yyAVAX farming opportunities to be announced soon
  • LP providers can stake their LP tokens on Yield Yak to receive 5% of yyAVAX’s yield
  • yyAVAX will be available to trade using Yak Swap

The Opening Ceremony

yyAVAX is launching with a 100,000 yyAVAX supply cap. As yyAVAX is yield-bearing immediately from its deployment, the value of yyAVAX constantly increases vs AVAX, so it is not minted at a 1:1 ratio.

Pictured: yyAVAX

Better Yield

yyAVAX will be constantly accruing value to AVAX, and Yield Yak and its partners will be doing everything they can to bring the most yield possible to yyAVAX holders.

Easier to Realize Yield

Many liquid staking tokens require that you wait a 15+ day period to move from the liquid staking derivative back into native AVAX. Alternatively you could use an AMM and potentially suffer serious slippage and swap fees which eat into any gains and benefits of holding the derivative token.

  • Imagine a Typical Liquid Staking Token with a daily yield around 0.02%
  • Swap costs 0.3%, plus slippage
  • Lose 15+ days of yield per trade

Earning rewards on top of yyAVAX

Simply holding yyAVAX means you are earning yield as it constantly accrues in value vs AVAX. However, additional yield farming opportunities will be announced soon. Yield Yak plans to use the 5% of fees it receives to help drive yyAVAX adoption across the Avalanche Ecosystem. Yield on top of yield.

Yield-bearing AVAX like never before

What does yyAVAX mean for $YAK?

Yield Yak receives 5% of generated yield from yyAVAX. At launch, this 5% will be put to work to drive adoption and DeFi utility. YAK also holds governance rights to yyAVAX.

Security

yyAVAX’s smart contracts, created by our partners Geode Finance, have been audited by CoinFabrik and reviewed internally by Ava Labs engineers.

About Yield Yak

Yield Yak makes numbers go up. Ape into new autocompounder farms with quick releases and high yields. Swap on Yak for the best prices on trades with zero aggregator fees. Sit back and just earn, including big APYs on stablecoin farms.

About Geode

Geode Finance provides DAOs like Yield Yak with the ability to provide a liquid staking solution to their users. By providing DAOs with the infrastructure, their own staking token derivative and exit liquidity, Geode are able to open up the opportunity for vastly improved yields and capital efficiency for users across the whole of DeFi.

About Eden Network

Eden Network is a user-focused blockchain infrastructure provider. On Ethereum they operate the Eden Rocket RPC; a private network that provides DEX traders with transaction protection, and NFT minters with transaction priority.

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