Yield Yak [Announcements]

2023-04-25 12:00:34 500 AVAX in Bribes for YAK voters on Glacier this week

Yield Yak continues to support the Avalanche ecosystem and YAK liquidity providers, and this week it’s offering 500 AVAX (!!) in Bribes to users taking part in Glacier’s ve(3,3) governance platform. Glacier directs their weekly GLCR emissions based on votes cast in the previous week.

Bribes like the ones Yield Yak makes benefit both veGLCR voters who vote for the pair, and YAK - AVAX liquidity providers who receive increased rewards when weekly emissions are distributed.

Interested in taking part? Here’s a quick ‘how-to’:

Acquire some GLCR if you don’t already have any - GLCR can be traded using Yak Swap

Head to the Glacier Finance App: https://www.glacier.exchange/vest

Lock your $GLCR for veGLCR - you can choose a lock period ranging from 2 to 12 weeks, the longer the lock the greater your voting power.

Head to the ‘Vote’ tabe and assign voting power to YAK - WAVAX pair

On Thursday of this week, you can claim your rewards from Glacier’s ‘Rewards’ section. Note that rewards are distributed based on your percentage of votes. For example if you had 10% of votes on the YAK pair, you’d receive 50 AVAX (0.1*500)

Happy Voting YakPak! Open / Comment

2023-04-11 16:38:23 Highest Upside yyAVAX strategy now live on Moremoney Finance

Our friends at Moremoney have now added Vector yyAVAX as yield-bearing collateral. Currently yielding 13% APY, which includes the yyAVAX native yield.

How to take advantage?

Head to Moremoney’s app to deposit yyAVAX as collateral:
https://app.moremoney.finance/token/0xF7D9281e8e363584973F946201b82ba72C965D27

Moremoney converts into yield-bearing collateral via Vector and their vePTP Platypus boost

Take out a MONEY stablecoin loan to execute yield-boosting strategies of your own.

Twitter Thread: https://twitter.com/yieldyak_/status/1645781202564173824

Note: if you share content with relevant and helpful yyAVAX strategies that incorporate this integration, it would likely qualify for the monthly Contributor program.

Huge thanks to Moremoney for this impactful integration Open / Comment

2023-04-10 18:47:40 New Farm Alert - Glacier YAK / AVAX

A highly requested new auto-compounding farm courtesy of our friends at Glacier Finance is now live for gas-free and efficient auto-compounding.

YAK / $AVAX - current APY: 395%

Liquidity Providers are benefiting from Yield Yak’s investment in Glacier and their accumulation of veGLCR, due to veGLCR being used to direct ongoing GLCR emissions towards the YAK / AVAX pairing.

How to deposit?

To deposit into Yield Yak’s auto-compounding pool, you need to deposit your Glacier vAMM Liquidity Provider token. Once you have equal values of YAK and AVAX, here are the steps required:

Wrap your AVAX into WAVAX. You can convert AVAX to WAVAX on Yak Swap at a 1:1 ratio

Head to https://www.glacier.exchange/liquidity

Select ‘Manage Liquidity’ next to the YAK / WAVAX pairing

Enter the YAK and associated WAVAX amount you wish to LP, and

Toggle ‘Advanced’, and choose to ‘Deposit LP’

Take your LP token position (represented as a number of “vAMM YAK/WAVAX”) and deposit it into YY’s auto-compounding Pool: https://yieldyak.com/farms?tab=allFarms&platform=glacier

Happy Farming YakPak Open / Comment

2023-04-10 13:21:51 Trader Joe Liqudiity Book V2.1 Updates

Routes integrated into Yak Swap

Liquidity Book’s new migrated V2.1 pools are integrated into Yak Swap (within 24 hours of release) to ensure you get the best price when swapping on Avalanche.

sJOE Depositors

With V2.1, sJOE depositors will start receiving fee-sharing from Liquidity Book Pools. At this time, we expect no action is required and these fees will be flow to Yield Yak’s sJOE pool depositors when distributions are made by Trader Joe . Open / Comment

2023-04-06 15:18:39 Yield Yak x Glacier Update - Week 1

We’re one week into Yield Yak’s governance participation in upstart Glacier’s decentralised Avalanche AMM. Some updates below for those that are enjoying the renaissance of traditional yield-farming opportunities.

YAK / WAVAX Liquidity Pools participants are currently earning an APR of 475%. This is with a TVL of >$350K. The rewards rate is a result of YY’s early investment in Glacier which enabled us to place a significant percentage of total votes on the pairing with our veGLCR.

veGLCR directs weekly emissions based on the percentage of votes, and in its first week the pair received 13% of all veGLCR votes .

YY has also been placing bribes for veGLCR voters to funnel further rewards to YAK / WAVAX LPs. In the firt week 125 AVAX were allocated. You can expect further bribes this week.

Glacier routes have been integrated into Yak Swap.

You can expect additional updates related to Glacier and Yield Yak in the coming days as well.

Happy farming YakPak Open / Comment

2023-04-04 19:22:02 March Contributors Report

15% of monthly protocol fees go to Yield Yak Contributors. For the month of March, community contributors collected payments as follows:

- @Num1smatis 70 AVAX (Developer)
- @avocadozebra 40 AVAX (Developer)
- Front-End UI Designer 40 AVAX (Developer)
- @OxMarji 15 AVAX (Analytics)
- @paddygo (Treasury) 20 AVAX
- @EuroMoreno (Illustrator) 90 AVAX
- Leonor (Designer) 50 AVAX
- @minimalissimo (Guide) 9 AVAX
- @camaran22 (Guide) 9 AVAX
- @MauroG_8 (Guide) 9 AVAX
- @crypt0bom (Guide) 9 AVAX
- @vgcreate (Guide + Bots) 9 AVAX
- Yak Intern (Content) 9 AVAX

There are many ways to contribute to YY, need inspiration?

Communications
Spread the word about Yield Yak by creating high-quality content about YY. If you can give relevant examples of comms you have managed, please share and contact @Ravageur

Third-Party Integrations
Help grow our footprint on third-party apps by submitting integration requests if YY-related information is missing on their platforms. If you succeed, please contact @ravageur77 Open / Comment

2023-04-01 17:29:00 Refunds issued for impacted Platypus, Echidna, Vector Depositors

Refunds for depositors in Yield Yak’s Platypus, Echidna, and Vector Pools which were impacted by the Platypus exploit have been delivered via airdrop

Impacted depositors have been distributed their share in the asset they originally deposited. Refunds are worth ~52% of the value of their initial deposit.

Yield Yak has covered the gas costs and slippage to facilitate distributing refunds in the original asset deposited.

As a goodwill gesture for the delays, users have been airdropped 1 $yyAVAX

Any future refunds from the three protocols will be redistributed to users.

Technical Explanation

On-chain accounting is done using YRT balances which are 'shares' of a given pool. These pools lost the underlying deposit assets due to an exploit of Platypus' protocol, meaning each YRT 'share' became unbacked. The issue affected three sets of pools, Platypus, Echidna, and Vector (16 pools in total).

We received refunds from all three platforms, and may receive additional refunds in the future pending Platypus' recovery attempts.

Because YRT are transferable, we have taken a historical snapshot for each affected pool. Affected YRT are no longer worth anything and can be burned or transferred without affecting future refunds.

In order to compensate each group of users, we had to make two conversions:

1. Convert YRT 'Shares' to 'Deposit Tokens' (i.e. Stablecoins). For this we use the ratio of 'Deposit Tokens' per 'Share' at the time of snapshot

2. Convert 'Deposit Tokens' to 'Refunds'. For this we use a 1:1 conversion between Stablecoins for simplicity.

All three protocols provided approx. 52% of user deposits in different stablecoins. Yield Yak depositors typically deposit one asset to earn more of that asset. In keeping with that expectation (and because it is feasible with stablecoin), we are refunding the same asset which was deposited. Note: this is different than how the other three protocols have issued refunds. Yield Yak is covering any gas fees and slippage involved in facilitating this for this round of refunds.

Don't hesitate to ask any questions about the compensations in our Community Channels. Watch out for Scammers, no one from Yield Yak will ever DM you. Open / Comment

2023-04-01 15:05:34 Update on Site Functionality

A fix has been deployed and users should once again be able to see their Pools in ‘My Pools’ and trigger deposits & withdrawals as per usual.

Apologies for any inconvenience this has caused.

You will see that Pools TVL is still not displaying; this continues to be investigated and is caused by an ongoing outage with a 3rd party provider. However, this no longer impacts core site functionality for users. The fix deployed has decoupled the reliance on the external source for detecting personal Pools and wallet balances, which should make the front-end more robust going forward.

Thank you for your patience, and should you detect any further issues, please let us know. Open / Comment

2023-03-29 00:05:51 Revealing Yield Yak’s plans for new Avalanche native DEX Glacier Finance. Glacier launches on Thursday aiming to bring the best of community governance to the Avalanche Ecosystem.

Glacier’s DEX model brings to Avalanche mechanisms built by Andre Cronje for Solidly and popularized by Velodrome on Optimism. It uses unique incentive structures to capture deep liquidity, while offering low fees which are 100% shared with the community.

Yield Yak will be participating in launch in multiple ways, with the goal of both supporting a new native project, and deepening trading liquidity for YAK:

The community have voted to acquire $5K worth of GLCR tokens. This gives us a foothold in their governance process and will be immediately used to direct emissions to YAK/AVAX LPs.

Yield Yak Treasury will be moving some POL to Glacier to help bootstrap the YAK/AVAX pool.

YY will be funding bribes at launch in AVAX rewards to veGLCR holders to further direct emissions to YAK/AVAX LPs. Bribes will be evaluated on a weekly basis.

Glacier will be awarding Yield Yak a launch partnership veNFT which represents locked veGLCR which will be used to vote for GLCR emissions for YAK/AVAX LPs.

What does this all mean for you?

We expect juicy APRs for YAK/AVAX LPs who will be earning GLCR rewards from launch.

You can also choose to lock GLCR for veGLCR to earn bribes and swap fees from protocols voting on the trading pairs they wish to incentivise.

We’ll be chatting to the Glacier Team tomorrow ahead of their launch on Twitter Spaces. To schedule a reminder: https://twitter.com/i/spaces/1rmxPkOOjmqJN?s=20


To learn more about Glacier, here are some useful links.

Docs:
https://docs.glacier.exchange/

Twitter: https://twitter.com/Glacier_Fi

Discord: https://discord.gg/glacierdex Open / Comment

2023-03-27 22:47:36 New Yak Swap UI Overhaul is now released

Off the back of community feedback, a series of upgrades to Yak Swap’s front-end are now live, making it easier than ever to get the best prices on Avalanche.

What’s new?

General facelift with improved route visualisation which focuses on transparency and simplicity

Manually Adjustable slippage (finally!) using the icon

New token list detects tokens in your wallet and prioritises them in descending USD value order

We continue to make incremental improvemetns to the Pools UI, with the latest changes to the Deposit & Withdrawal widget, particularly for mobile users, who no longer need to scroll to access it (a pet peeve of many!).

For a full breakdown, see the Twitter thread covering the changes, and let us know your feedback and what you’d like to see next.

https://twitter.com/yieldyak_/status/1640437528795705344 Open / Comment