Yield Yak’s GLP Vault is now integrated with Arable Finance. | Yield Yak [Announcements]

Yield Yak’s GLP Vault is now integrated with Arable Finance.

GMX enthusiasts, you now have another option to earn additional yield on top of your yield-bearing GLP. Yield Yak’s GLP receipt token (aka yyGLP) can now be deposited as collateral on Arable Finance to take out an arUSD loan against to earn additional yield. arUSD is Arable’s native stablecoin.

Steps to take part:

To purchase GLP you need to head to GMX:
https://app.gmx.io/#/buy_glp

Deposit GLP into Yield Yak farm. Note that there is a 15 min cooldown timer between purchasing GLP and being able to deposit it.

https://yieldyak.com/farms/detail/0x9f637540149f922145c06e1aa3f38dcDc32Aff5C

Use your yyGLP as collateral and borrow arUSD on Arable:
https://mvp.arable.finance/#/mvp/synth

You can then deposit arUSD into their Curve pool to earn 40% (at time of writing) in ACRE rewards. ACRE is their governance and fee-sharing token.

A big thanks to the team at Arable for this latest integration.