Avalanche Pools Update: Aave, Balancer, Glacier, Benqi

There have been recent changes made by the underlying protocols which may affect users. This update covers:

• Aave single-asset pools
• Balancer LST pools (sAVAX, ggAVAX, yyAVAX)
• Glacier YAK-AVAX
• Benqi Qi-AVAX

Read on for more information.

Aave Single-Asset Strategies

Avalanche Rush incentives have now ended on Aave. This means there are no incentives for Yield Yak to auto-compound, however deposits continue to earn interest and deposits and are optimised to maximize interest rate earnings. Yield Yak takes no fee on these pools. Currently Supply APY at time of writing:

• $USDT - 4.13%
• $USDC - 4.1%
• $BTC.b - 0.01%
• $sAVAX - 0%

$AVAX - this asset has currently been paused for new deposits following this recent announcement from Aave:

What does this mean for my deposits?

• Deposits are still accruing yield, but less so than before. Yield Yak offers similar single-asset pools (such as from Benqi) which users may wish to consider.

Balancer LST Pools

Avalanche Rush rewards have ended recently, impacting yield. $BAL rewards have also recently been added from Balancer, however BAL liquidity on Avalanche is extremely thin at the moment. New versions of Yield Yak Balancer Pools have been deployed which take into account the newly added BAL rewards. Old versions would not be accruing any BAL  Current situation:

sAVAX / AVAX :

• Earning $QI and $BAL rewards
• New pool: https://yieldyak.com/farms/detail/0xDea8843f3DF355A2f24c6e36525075b6990C525D

ggAVAX / AVAX:

• Earning $GGP and $BAL rewards
• New pool: https://yieldyak.com/farms/detail/0xC6B2a17Ca7527c382e8f49DfC5A1a4Eb8B872262

yyAVAX / AVAX:

• No longer earning rewards. Yield Yak's Treasury have stopped incentivising this pool as it explores other options.

IMPORTANT NOTE: Balancer’s fee model takes 50% of the underlying native liquid staking token yield.  For example, if sAVAX is earning 6%, your sAVAX LP'd on Balancer will earn 3%, with the other half taken by Balancer.

This fee is reflected in Balancer's advertised APRs, however note that the APR also includes the native staking yield (in above example it would include the 3% on sAVAX).

What does this mean for my deposits?

• sAVAX and ggAVAX depositors may wish to migrate to the new Yield Yak Pools earning BAL rewards. To do this you simply need to withdraw from the old YY pool and deposit into the new one.
• yyAVAX LPs may wish to withdraw from Balancer given the reduction in APY likely will not outweigh Balancer's fees.

Glacier YAK-AVAX

Glacier Finance have recently relaunched as Pharoah Exchange. Users have been urged to withdraw their Glacier Finance positions.

This impacts YAK-AVAX LPs on Glacier and deposits in Yield Yak's auto-compounding version of the pool.

What actions should I consider?

• YAK-AVAX LPs are no longer earning rewards, and LPs are urged to withdraw.
• Options for users breaking their LP: you can stake YAK to earn protocol fees directly on Yield Yak's site.

Benqi QI-AVAX

Benqi recently announced the migration of rewards for their Pangolin QI-AVAX pool to Trader Joe:

This means users in the existing QI-AVAX auto-compounding pool on Yield Yak are no longer earning rewards:

What actions should I consider?

• Users are encouraged to withdraw from Yield Yak's Pool
• If users are looking to continue to LP QI-AVAX and earn rewards, see above message from Trader Joe on how to continue doing so.

What if I have more questions about this?

The only official place for support is opening a Support Ticket in the Yield Yak Discord.

NFA. None of the above is financial advice, and provided for informational purposes only.