Yield Yak Gazette - April's Arbitrum and Camelot Milestones

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Written by

#Club1BCH

6 months ago

In community: Everything Crypto(f12e)

Welcome to the Yield Yak Gazette, the newsletter that will fill you up with good vibes, top APY and yak news! April marked a new era for the yaks, with the newer version of the front-end went live. The new UI was built on latest tech stack, with huge performance enhancement and seamless X-chain experience.

The code is open-source, allowing a better framework for community members to contribute and accelerate progress. This shows that Yield Yak is not only the most popular and most used optimizer on Avalanche, but also a community-focused project.

Yield Yak milestones, news and DeFi updates!

Yield Yak offers one-click leveraged farming strategies for borrowing and lending markets like Aave, Benqi, and others. These strategies optimise your single-asset deposits, automatically compound your returns, and save you time. The optimizer is in charge of maximizing the annual percentage of rewards that users can get when farming or staking your cryptocurrencies on other platforms.

The optimizers use the rewards users receive to exchange it for the cryptocurrency or cryptocurrencies you are farming or staking. The next step is to put those cryptocurrencies back into the farm. The compound interest is obtained by using the rewards and reinvesting them in the farm. Sit back and earn! It's like Salt Bae dropping salt on your rare stake... but with Yak and crypto!

The biggest milestone achieved in April was the unanimous vote in favor of moving to 100% of platform fees to stakers. Every single cent earned by Yield Yak on Avalanche and Arbitrum is shared to the $YAK holders. This makes Yield Yak one of the few protocols with no private investors, a fully distributed token with zero emissions, and 100% of fees shared to token holders!

Yield Yak unanimously passed the Arbitrum LTIPP, being one of the 77 applications approved. Snapshots were posted and Yak passed the vote!

Staying on Arbitrum for another big one! Camelot launched a new native aggregator, built using YakSwap codebase. The decision showcases the benefits of YakSwap's 100% on-chain approach, with no external points of failure. Camelot now offers the best price on every trade, aggregating hundreds of pools on Camelot to find the most effective route.

The router covers both v2+v3 pools to ensure that users get the best price without any additional effort. Most importantly, as a fully on-chain solution, it doesn't rely on any off-chain quoting mechanism or API. This native aggregator is based on the amazing codebase built by our friends from the yieldyak team, and we'd like to deeply thank them for allowing us to leverage their work and precious help in the process.

Avalanche Memecoin Rush HAS BEGUN. $100,000 in AVAX Rewards Awarded for two weeks on Yield Yak 🥁 🥁 So it begins... $100,000 worth of AVAX rewards supplied from the Avalanche Foundation's $1M Memecoin Rush initiative have started to be streamed to Yield Yak's Trader Joe memecoin LPs.

🐔 COQ: $30,000
🔗 https://yieldyak.com/avalanche/yield/0x47A3b8c8Bb902dCd98BcEcC906D482FEFb66c243/

🧊 NOCHIL: $15,000
🔗 https://yieldyak.com/avalanche/yield/0xe508822C6445346e8D4dd724d3c42E4a98A4dbcA/

TECH: $15,000
🔗 https://yieldyak.com/avalanche/yield/0xE71b06f4550F9C9015D1b67d2E1fDC326A0F8BdC/

🦎 GEC: $15,000
🔗 https://yieldyak.com/avalanche/yield/0x253B79CD4C7A9364FF5197A80Fa87cb8D1EE4cc8/

🐶 KIMBO $15,000
🔗 https://yieldyak.com/avalanche/yield/0xf929eD9E6a5B031ecc10e98DDE8fE9f4C5f0c6C1/

🐱 MEOW $3,000
🔗 https://yieldyak.com/avalanche/yield/0x513f97405b6548F9DBE829b3b4d4Ee9346cBa625/

🦍 KONG $3,000
🔗 https://yieldyak.com/avalanche/yield/0x0Eb29153F76e2934f3F964EDdC973681634D3dC5/

🔺 KOVIN: $3,000
🔗 https://yieldyak.com/avalanche/yield/0xC6125f8f9D8D9587CC1309E5c578e39e41284356/

These Trader Joe v1 Pools help create deeper liquidity for users in pools which are subject to less impermanent loss than their concentrated liquidity counterparts. How To Take Part:

Step 1: First, you must create a Trader Joe LP position (JLP) here: https://traderjoexyz.com/avalanche/pool
Search for your memecoin of choice. Eligible V1 pools are denoted by the 0.3% fee setting.
Step 2: Deposit your JLP token in Yield Yak's equivalent auto-compounding farm (links above). You're now earning Avalanche Memecoin Rush rewards.
Farms will automatically compound $AVAX rewards into the underlying 50/50 split of <memecoin> / $AVAX to grow your position, without any further action required from users after depositing.

April's Fool? No... just another slice of $YAK added in the pot! My target for 2024 is to hold one $YAK, and this is why I am adding a 10th of the token each month. By December I will have at least 1.2 $YAK staked in the pool, a long term commitment towards DeFi evolution. Spent $67 on 0.1 $YAK, but the price has little importance... as the monthly investment will give me a good average value.

The auto-compounding will make my stash even bigger, thanks to compounded interest. What is compounded interest? Yield Yak exchanges my rewards for the base asset and adds it to my position, and the next injection of rewards will come from a larger base amount. The perpetual action will growth that accelerates over time, delivering higher and higher rewards.

I am now using Rabby Wallet, which has extra layers of protection and shows exactly what goes out and what comes in. Swapped from the old and boring Metamask after I was drained in January. Rabby announced the point based airdrop, and all EVM wallets can claim their points. Use the PVM referral to grab more points!

Few more clicks and the $YAK was deposited in the pool, adding up to 0.4 $YAK in the bag. I made a scribble in my "To Do!" notebook, a reminder to check the YAK pool on AVAX, as the rewards are always better in there. Slow and steady as a YAK ... this is the way towards crypto success!