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yAxis v3 brings 2.5x APR boost to Avalanche Network

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The yAxis team is proud to announce that we are launching on the AVAX network, our first-ever outside of Ethereum! We will now have four vaults in the Avalanche ecosystem.    

Summary

  • Industry-leading APR’s
  • Four vaults on Avalanche for a variety of options (3CRV, Tricrypto, AVAX, JOE)
  • Hassle-free auto-compounding
  •  Native bridge from AVAX to ETH
  •  Battle-tested vault architecture
  •  Code scrutinized by two comprehensive audits reviews

yAxis On Avalanche

The decision to go across to other chains was obvious: speed of transaction and gas fees are not always the friendliest on Ethereum mainnet, and we want to make sure users of all sizes can utilize our services without breaking the bank. 

The question was, which direction should we go? There are so many L1 and L2 options out there, and choosing the “best” one isn’t a simple decision.

We chose Avalanche for a number of reasons:

  • The TVL is there.
  • Transaction fees are extraordinarily cheaper than ETH mainnet
  • Deployment is much quicker with an EVM compatible network

The ability to deftly deploy vaults is very important to our user satisfaction and project success. 

yAxis v3 Vaults 

The upcoming AVAX vaults are built on a plethora of successful, powerful dApps. 

The 3CRV and TRICRYPTO vaults accept tokens from Curve. The AVAX vault supports assets from AAVE. And the JOE vault supports LP tokens from Trader Joe. Bringing these pool tokens to their respective yAxis vaults earns you market-leading yield. 

Users may choose to simply deposit and earn. For those looking to maximize their yield, yAxis offers a 2.5x Boost on rewards APR. 

Earn more with yAxis’ Auto Compound 

The yAxis protocol pools users’ funds, deposits them into the respective Convex pools, regularly harvests the rewards and then compounds those rewards automatically through our smart contracts. This auto compounding feature maximizes earning potential to deliver market-leading yield. 

Bridge from ETH to AVAX

Users can easily bridge any YAXIS tokens from Ethereum Mainnet to Avalanche through the token bridge. The decision to build a bridge was an easy one, as it allows existing yAxis users on ETH to seamlessly migrate over to AVAX. 

And to ensure the best possible user experience, yAxis will launch on the TraderJoe decentralized exchange. This will allow AVAX-native users to buy and interact with yAxis v3 without ever having to leave the Avalanche ecosystem. 

Don’t Forget Voting Power!

Another key feature of the vaults pertains to yAxis’ native governance token, YAXIS. By locking YAXIS tokens into the protocol, users gain Voting Power in the form of veYAXIS (voting escrow YAXIS).

Voting Power is a key component in many of the vault yield generating functions. First up, “Personal Boost Multipliers (PBM)”.

A PBM represents a personalized “BOOST” to vault reward APR’s. With yAxis PBM, users can receive up to 2.5x boost on their rewards. For example, a minimum vault reward APR of 10% coupled with a MAX 2.5x Boost would result in a 25% Reward APR.

Another component is the ability to vote with veYAXIS to steer additional rewards to users’ vaults of choice. This multi-directional tug-of-war offers users the ability to increase their vault APR by increasing the value of YAXIS tokens received. 

Finally, veYAXIS is also used in project governance and is used to vote on key project decisions. 

Find yAxis v3 here https://app.yaxis.io/

Join the conversation:

  • Twitter: https://twitter.com/yaxis_project
  • Discord: https://discord.gg/yaxis-project
  • Forums: https://yaxis.discourse.group/
  • Telegram: https://t.me/yaxisofficial 
  • Medium: https://yaxis.medium.com/

Disclaimer: This is a paid post and should not be treated as news/advice.

 

Jacob is a sponsored content writer at AMBcrypto whose interest lies in blockchain technology and its impact on the changing global economy.

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