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I was recently asked for a high-level overview of @yieldyak_ and $YAK. Here goes…
Disclaimer: Not financial advice. Do your own research etc.
Disclaimer: Not financial advice. Do your own research etc.
What is Yield Yak and what is the $YAK token?
Yield Yak is a yield optimizer on the Avalanche network (c-chain, specifically). You can stake your crypto assets (single asset staking) or you can LP on a DEX and deposit that LP to Yield Yak’s auto-compounder.
Yield Yak is a yield optimizer on the Avalanche network (c-chain, specifically). You can stake your crypto assets (single asset staking) or you can LP on a DEX and deposit that LP to Yield Yak’s auto-compounder.
This takes the rewards you would earn from providing liquidity and then it sells those rewards for more LP tokens. Essentially growing your stack without having to do anything (the reinvesting is managed by the community auto-magically).
