Earn market-leading, auto-compounded yield with yAxis canonical vaults
With the v3 protocol upgrade, yAxis have fundamentally changed the way their protocol generates yield. A key component of this is the introduction of mechanisms that personalize APR and “Boost” rewards.
Personalized APR Boost’s are achieved by locking up YAXIS into the protocols voting contracts. In return, users receive voting power or veYAXIS, (voting escrow YAXIS). It is the veYAXIS that enables users to:
- Boosts vault yields by up to 2.5x
- Receive a cut of vault performance fees
- Vote on which vaults receive how much YAXIS rewards
Simply put, the v3 vaults have transformed the YAXIS token into a governance token on steroids!
In addition, the V3 vaults further increase yield by auto-compounding funds on the users behalf. This v3 feature is of huge importance considering the current, often prohibitively high costs of transacting on the Ethereum mainnet.
Another key component and protocol differentiator is an emphasis on Vault security. In the lead-up to the v3 vault launch, the yAxis team employed a staggered-multifaceted audit approach, in which they combined a community-driven competitive smart contract audit run by Code4rena with that of a more conventional audit from top tier auditors Haechi. Multiple audits, coupled with the associated buildout of advanced yAxis security features, have created one of the most robust and dynamic cybersecurity solutions in the industry.
With the successful release of V3, the yAxis team has now shifted its focus to the next phase of their roadmap. This includes rapidly expanding the number of vaults available to users, L1 – L2 multi-chain deployment, and the rollout of a recently audited borrow – lend feature that will let users deposit interest-bearing collateral, in order to borrow stablecoins in return.
Find out more about yAxis and the v3 vaults
- yAxis Website: https://www.yaxis.io
- Twitter: https://twitter.com/yaxis_project
- Discord: https://discord.com/invite/yaxis-project
Disclaimer: This is a paid post and should not be treated as news/advice.