Treasury Update Since inception, Yield Yak operates a transpa | Yield Yak [Announcements]

Treasury Update

Since inception, Yield Yak operates a transparent Treasury overseen by a mix of community members and Core Contributors. The Treasury handles a delicate balance of priorities in a dynamic ecosystem, which include:

Investing in future growth, this includes both mundane operational expenses as well as investing in marketing and people

Managing Treasury Funds to ensure runway to operate in poor market conditions, whilst retaining upside to be able to accelerate growth in better market conditions.

Investing in Ecosystem projects & partnerships that can provide synergies

Providing liquidity for its tokens (YAK, yyAVAX, yyJOE, yyPTP) with Protocol-Owned Liquidity

Below is the latest Treasury Update which includes its recent activities and current areas of focus.

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GENERAL

- Facilitated refunds from Platypus Exploit in the user's deposited currency (as opposed to a mix of assets). Treasury bore the costs of slippage and peg discrepencies. It also airdropped 1 yyAVAX to each impacted user as a goodwill gesture.

- Continue to holds majority of AVAX reserves in yyAVAX to support the LSD and accrue yield on its spot AVAX.

- Treasury multi-sig setup on Arbitrum and some Treasury assets are gradually being bridged in preparation for cross-chain expansion

- Accumulating ETH for YAK - ETH Protocol Owned Liquidity and need for ETH as liquidity incentives

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POL

- Gradually migrating POL for YAK from Pangolin to Glacier where it's earning higher rewards and can contribute to protocol fees by being deposited in YY's auto-compounding farm.

- Winding down a YAK / USDC LP on Pangolin which is being supplemented by the Glacier YAK - AVAX liquidity. Original reasoning for YAK / USDC was to generate more trading fees which is no longer a priority with the USDC deemed more valuable for other activities.

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MARKETING & GROWTH

- Supplying weekly bribes on Glacier for YAK - AVAX (and potentially yyAVAX - AVAX in the future). Bribes are decided on a weekly basis based on both the percentage Treasury reclaims from its veGLCR voting position and the general effectiveness of the spend.

- Updating YAK incentives program streaming rate for DeltaPrime. DeltaPrime currently supplies >$10M in TVL to the GLP Strategy via their leveraged GLP, thus current yearly vesting rate is 115 YAK. The incentives program to date is viewed as a success and expanding it to all protocols who integrated YRT tokens is being considered.

- Sponsored Avalanche Summit. Costs for this include sponsorship of a node in the Main area, merchandise that will be given away (Yak Hats )

- Made seed investment ($5K) in Glacier for locked veGLCR which can be used to vote for YAK - AVAX. This has been successful in both supporting Glacier's launch and delivering value to YAK LPs.
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Feedback on these updates and input on what you would like to see from the Treasury in the future is always welcomed. Treasury wallets are in our Documentation and can always be monitored on sites like Debank.