Yield Yak Gazette - Bridging $YAK And Auto-Compounding Yield

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Written by

#Club1BCH

4 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! DeFi summer started and the season brought many gifts and surprises! We enjoyed yield boosts, extra APY, Arbitrum LTIPP rewards, Rivo points and LayerZero eligibility! Can Yield Yak get any better?

Yes it can! UI upgrades and extra yields for everyone! YieldYak added 180,000 $ARB and 40 $YAK to selected strategies, auto-compounding $STG, $USDC and $USDT for triple-rewards madness!

The "Explore" feature now shows the best available yield strategies for the selected token, highlighting the whole range of options. The switch from "All Yield" to "My Yield" is done with one click, and a new filtering system has been implemented.

The Yak Pack can explore yield strategies and see the highest equivalent APY for the asset across Avalanche, Arbitrum and Mantle. All similar strategies are displayed along their performance, making it easier to compare and highlight the best performing pools.

I used the new UI to see where's the best yield for $YAK and I decided to bridge to Avalanche! Used the Yak Bridge to move my assets cross-chain, and it reached the destination faster than I could say Everest! The fee was low and the experience was smooth!

We all like long-term strategies that will create a stream of passive income, and the YieldYak auto-compounding pools are top options! I can add crypto and enjoy the full package... optimized yield, no waste on gas, and perpetual earnings. It was easy to understand that $YAK is the gem that powers the whole ecosystem, and this was the main reason why I wanted to be a holder.

I set the target to one YAK token and planned to add 0.1 each month. However, I accelerated the plan for my birthday... and got that 0.499 needed to round it up. Gone fast forward and gifted myself an achieved goal for my birthday! It's not much but is honest work! Now I can finally feel like a true member of the YakPack! Onwards and upwards!

YieldYak is the most popular and most used optimizer on Avalanche, due to the great variety of opportunities that it offers. An optimizer is in charge of maximizing the annual percentage of rewards that users can get when farming or staking your cryptocurrencies on other platforms. This is how 1 $YAK grew to 1.0361 YAK, while I enjoyed cake and prosecco!

I now farm slow and steady on Avalanche, with $YAK and $AVAX growing perpetually. How it works? 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!

YieldYak offers one-click leveraged farming strategies for borrowing and lending markets like Aave, Benqi, and others. These strategies optimize your single-asset deposits, automatically compound your returns, and save you time!

I staked my $YAK along 3,410 tokens that were already earning rewards, and tapped into a 12% APY! Really proud of myself, and my Yak journey so far. I am buzzing for my achievement, and ready to set a bigger goal!

If you reach your GOAL: SET A BIGGER GOAL! If you get to the top of the mountain... Find a bigger mountain!

It’s the journey! The continued pursuit of growth. The constant seeking of improvement.  THE CHALLENGE!

That’s what makes life great. That’s what makes a fulfilled life.

I am now a full $YAK holder, few months before the deadline I set! So what? Do you think I am stopping? No way! Time to double it... time to make it two YAK... and grow until I have a herd! Until then... I started using my $YAK for governance! Dived quickly into the first snapshot that came along and voted!

Do you know that the infra-provider that makes $YAK an omnichain token uses LayerZero technology? Using YieldYak boosted my $ZRO allocation, improving the airdrop!

The Cryptoverse is infinite, but top projects will always have a good synergy! I wonder what's next, and what surprises are waiting at the summit! Slow and steady climb, and good vibes from the Yak Pack! Let's leave the basecamp and start trekking towards a better tomorrow!

Summer vibes and new "Portfolio" on YieldYak! The new feature lets the YakPack track the performance of their positions in one simple and intuitive place. Portfolio gives an unified display of all cross-chain YieldYak positions on Avalanche, Arbitrum and Mantle!

The default setting is to display active positions, but this can be changed to include all historical deposits. The dashboard will show Current Value, Net Deposits, Returns and Growth. The current value will show the position value in the underlying token and USD values, and the net deposits will do the difference between what went in and the total withdrawals.

The returns are the simple percentage of the return divided by net deposits, while the growth percentage will show the growth in the position since the last transaction. APY value will display the growth annualized using the time since the last deposit and the most recent reinvest for the strategy.

Witness the power of YieldYak while browsing the portfolio! GLP grew by 3.9% in 4 months, that's the equivalent of 12.3% APY! The $AVAX stash growing up nicely as well, and the $YAK will auto-compound as well! Happy farming crypto bro!