yyAVAX farming season is officially underway! Trader Joe Doubl | Yield Yak [Announcements]

yyAVAX farming season is officially underway! Trader Joe Double Rewards Farm is Open

Here’s everything you need to know to get started.

Stake: yyAVAX / USDC

Earn: yyAVAX + JOE

Note: JOE rewards start tomorrow, August 17.

How to liquidity provide:

Add equal values of yyAVAX and USDC to Trader Joe's Liquidiy Pool here: https://traderjoexyz.com/pool/0xb97ef9ef8734c71904d8002f8b6bc66dd9c48a6e/0xf7d9281e8e363584973f946201b82ba72c965d27

Stake your LP token in Trader Joe's Farm section

Stake your LP token in Yield Yak’s auto-compounding version the farm (also coming tomorrow, August 17)

What is yyAVAX? It’s Yield Yak’s new yield bearing liquid staking token which constantly accrues value against AVAX. You can swap any token for yyAVAX on Yak Swap. yyAVAX has a dynamic APR based on yields generated from the Avalanche P-Chain. Today it sits at 8% APR which is dynamically built into its token price.

yyAVAX Supply Cap: There’s a 100K yyAVAX Supply Cap, so act fast if you’d like to take part.

New Tool to Simulate yyAVAX vs AVAX. We’ve created a tool to help users compare yyAVAX as a yield farming base vs AVAX. Given yyAVAX’s yield-bearing nature, it makes a huge difference vs AVAX in terms of improviding yield farming gains and protecting against Impermant Loss.

The tool also lets you simulate yield farming scenarios, check it out for yourself here: https://yy-analytics.github.io/yyavax-impermanent-loss/

Additional Resources for those new to yyAVAX:

Twitter Thread: https://twitter.com/yieldyak_/status/1552372300883935233?s=20&t=HMOkOtCGXhO1pklScYmzbA

Twitter Spaces: https://twitter.com/i/spaces/1YpJkZlDlgrGj?s=20

Medium Article: https://yieldyak.medium.com/yyavax-to-launch-soon-with-capped-100k-yyavax-token-opening-ceremony-and-rewards-for-lps-d5844ac24e9a

Happy yyAVAX yield farming friends!