Welcome to the Yield Yak Gazette, the newsletter that will fill you up with good vibes, top APY and yak news! Have you seen the new dashboard and the Portfolio updates? Yield Yak got smoother, and the UI got enhanced with even more stats! It's DeFi bonanza and harvest season!
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
I discovered YieldYak long time ago, when I moved my $AVAX to Avalanche and staked it. I looked for the best farming option and I was recommended YieldYak by everyone! How it happened?
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.
I needed guidance on Avalanche, but Yield Yak was so easy to use! My 22.5 $AVAX were staked with few clicks, and then I let the Yak work and make my tokens reach the peak! The Benqi AVAX pool were generating auto-compounding rewards at 4% APY, creating a stream of passive income.
My Avalanche exploration started from the basecamp, with no climbing experience. I knew I wouldn't reach the peak without help, and the YAK is the best companion an mountaineer can have. The first dive into YieldYak was on November 2023, so it's time to make a round-up!
It's harvest season, as I said, and the $AVAX stash grew considerably. 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!
Wrote and published my first dive into the cold snow, sharing my initial impressions! Slow and Steady Like An Yak was shared on Twitter and got a retweet from YieldYak. People from the Yak community engaged with my tweet and I liked the vibes.
I soon joined their Discord and had a warm welcome. I was asked to open a ticket for my contribution and at the end of the month my content was rewarded with 3.5 $AVAX! Amazing and heart-warming! It went straight into the pool, for even more compounded rewards.
One year has gone, and those 22.5 AVAX I staked on YieldYak bloomed! I am now holding 34.4 $AVAX, with compounding rewards at 4.1% constantly adding on top of my assets. Farm, harvest and farm again... this is the way!
YAK is the native token to Yield Yak, and it can be staked to earn platform fees. No additional $YAK can be minted over the total supply of 10,000 tokens. Over 80% of the supply is staked and 70% of all platform fees are distributed to YAK holders every 24 hours. Sound like a top deal!
I wanted some $YAK in my life, but this token was an expensive cookie! This is why I've made a plan and set a goal... to hold 1 full YAK token by the end of the year. The idea was to buy or earn 0.1 YAK each month, and if everything goes according to the plan, I will reach my goal without stress.
Not only it went smooth, but I achieved the target faster. It was June, and I decided to gift myself a slice of $YAK for my birthday. Target achieved in half year, but the hustle continued. Added another slice in July, and raised the total to 1.45 $YAK at the end of the summer.
I kept my $YAK on Arbitrum for a while, as the APY was higher, but decided to bridge it to Avalanche when the rewards got even across the chains. It was fast and easy to move the tokens, and less expensive than I've thought.
I added 1.629 $YAK, and let them brew without worries. The recorded portfolio growth since x months ago was x%, the equivalent to x5 APY. This makes me set a side-quest for 2025, and holding 2 $YAK tokens will be part of my New Year's resolution! Not hard to achieve as my current stash is 1.6 $YAK.
Mantle celebrated one year since the V1 Alpha launch, and amazing milestones where shared with the community. The network is one of the best capitalised Layer 2 chains, being incubated by ByBit, and enabling a robust ecosystem of diverse projects for users to experience.
Mantle is a modular Layer-2 Ethereum scaling solution and the first to leverage EigenDA for data availability. The chain is built on top of the Ethereum blockchain, as a Layer-2 scaling solution that alleviate the mainnet issues from processing every individual transaction.
By harnessing Optimistic Rollup technology, Mantle can securely log transactions occurring on the Layer 2 through off-chain computation, before settling the rollup of transactions on-chain. We all love modular solutions!
Harvest bonanza on Mantle as well, where I used the voting rewards from Stratum to get yield on YieldYak! I claimed the rewards swapped most for $MNT! Wrapped it and add it in the Lendle pool on Yield Yak to compound. However, I changed my mind after a while!
Mantle has the best APR for $YAK staking, and if wMNT was skated into the compounding pool... everything else was swapped for $YAK. Time to climb on Mantle, and grow my $YAK holdings. The $YAK pool is not auto-compounding, and the 32.3% APR will generate $MNT rewards.
I initially dusted the low valued tokens and managed to get 0.1 $YAK from the dusting! The 13.9% APR was much better than the 3% for wMNT, therefore I cashed out and bought more $YAK. Enhanced the position with another deposit and started earning more $MNT from $YAK staking! It's not much but is honest work!
However, I didn't think this was the most efficient way of farming on Mantle. I don't like claims and constant checking of rewards, therefore I changed the system. I moved the $YAK into the auto-compounding pool, so I can enjoy lazy staking.
The current APY is at % but the growth is exponential. I added 0.0881 $YAK into the pool and the current value is x, with a x portfolio growth since x weeks ago. The growth is equivalent to 15% APY!
Residual Income:
Airdrop Hunting: Layer3 / Mode / blast.io/HJEUV / Linea
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Content: Publish0x/ Hive / GrillApp
Play2Earn: Upland / Splinterlands / ++Doctor Who++
Cashback Cards: Plutus Card / Crypto.com
$ZEC: PipeFlare / GlobalHive
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