Yield Yak Gazette - May's Avalanche And Arbitrum Progression

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Written by

#Club1BCH

5 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! I love the new staking tab, and that you can now claim AVAX or ETH when you stake YAK on Avalanche and Arbitrum! Just deposit into YAK compounding farm to see your YAK grow and enjoy staking statistics, YAK voting power and enjoy 100% of protocol fees in the new interface.

The yak pack has started the bull run, it's slow but certain! Quarter 2 of 2024 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.

Why do I love it? Yield Yak offers one-click leveraged farming strategies for borrowing and lending markets like Aave, Benqi, DeltaPrime and many 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 Yaks are conquering the Metaverse, as the new Camelot native aggregator was built using YakSwap codebase. This 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.

My climb towards the summit goes according to the plan. There's a long way until the peak of the mountain, but slow and stady is the key! The YieldYak culture and community supoport keeps me motivated in this journey, and in May I added 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. The 0.1 $YAK monthly investment will give me a good average value, and will slowly help me to achieve my target!

Fifth month of the year so I'm half way trough my goal! I now hold half of $YAH and I am counting on the compounded interest to make my stash even bigger. 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.

Big news for YieldYak, as the Avalanche Ambassador DAO announced new partnerships with leading Avalanche projects. This approach will help deliver a vision that will help the Avalanche Ecosystem to grow.

Yield Yak is proud to be among those supporters, and the yak pack will be among those that will benefit from the partnership. Each project has sent $10,000 to the DAO, which will go towards Avalanche Ambassador DAO events, hackathons, bounties, and more!

The ultimate goal is leveraging the Ambassador DAO to onboard users and builders. The Avax DAO is a great fit for Yield Yak's treasury to support due to YY's "build in the open" approach which aligns well with hackathons and paid bounties to onboard new builders into the protocol. It also of course fits the Treasury’s vision to support new Avalanche builders and community-led initiatives.

The new direction also fits my Avalanche goal, where I am constantly staking $AVAX on YieldYak. Once upon a time a bought the dip and got a bag of $AVAX. It was auto-compounding on Binance for months, until the rewards where stopped for UK based users. I had to look for alternatives and moved the tokens to the Avalanche EVM chain, and done the basic search for the best opportunities.

This is the story of how I discovered Yield Yak, and a more efficient yield farming on Avalanche. Staked 22.5 $AVAX in September 2023, and slowly added more in the pot! May's expedition takes me near the peak of the mountain, adding 2 AVAX into to auto-compounding YieldYak pool!

Ten months later and my AVAX stash grew a lot, thanks to the same amazing YieldYak compounded interest! The 2.3% APY is great, considering the compounding action. I staked last year and let it grow! My 2024 AVAX target? I hope to reach a round number... and fourthy sounds a good deal!

I also plan to look into ggAVAX, as this DeFi opportunity brings a fresh diversification. YieldYak came with an innovation, integrating native ggAVAX minting. Now YieldSwap is the best place to swap LSTs and ggAVAX on Avalanche.

How does it work? When you enter the amount of any token you'd like to swap into ggAVAX, and Yak Swap will check if it's cheaper to mint new ggAVAX vs purchasing from a decentralised exchange. Given this is often the case for larger amounts, this integration will boost ggAVAX's presence across the Avalanche ecosystem. Onwards and upwards!