Wen yyAVAX? Now Opening Ceremony with a 100K AVAX supply c | Yield Yak [Announcements]

Wen yyAVAX? Now

Opening Ceremony with a 100K AVAX supply cap has begun.

yyAVAX is bringing high sustainable yields for securing the #Avalanche network as well as instant (low slippage) exits.

APR (~7%) is just warming up as the yield engine furnaces are being stoked .

How to get yyAVAX?
You can mint and redeem yyAVAX directly via Yak Swap which will always get you the best rate. You’ll always be able to track the APR, current price per share, and current yyAVAX supply on the YY liquid staking site.

Yield
In line with our sustainable yield and transparency strategy, the APR is not fixed and will increase as full scope of the yyAVAX yield infrastructure gets going, which includes:

Supporting Subnets. Rewards for this flow to yyAVAX holders, a first of its kind feature.

Yield boosting strategies from our Eden Network partners who run validator nodes

Peg arbitrage gains from the dynamic withdrawal pool go to holders

Future tweaks to staking strategy to increase base APR. Currently all AVAX staked for opening ceremony is the minimum 14 days.

Redemption
You can redeem yyAVAX instantly for AVAX on Yak Swap without having to wait 15 days for unstaking. This lets you keep more of your yield instead of losing it to Swap fees and slippage.

What’s next?
DeFi utility and greater adoption in the ecosystem including distributing AVAX rewards (from fees) to LPs.

What about Fees?
Fees are transparent and simple. 5% of rewards go to Yield Yak to build adoption and will go to build utility. YAK holds governance rights. 5% to the Eden Network for their validator services.

Visit the Liquid Staking page of our website to start your yyAVAX journey: yieldyak.com/liquid-staking