Expanding to New Worlds: Yield Yak joins Arbitrum Ecosystem
Yield Yak has (officially) expanded its suite of DeFi tools to Arbitrum.
TL;DR
- 34 Active Pools for Arbitrum are live with strategies for all portfolio types covering GMX, Trader Joe, Silo Finance, Balancer, Wombat, Synapse, and more. Strategies are being regularly released as Yak Contributors sink deep into the Arbitrum DeFi ecosystem.
- Yak Swap, the zero-fee 100% on-chain DEX aggregator is now live. This includes Yak Swap’s innovative GLP router, which takes GLP mint & redeem fees into account to ensure you get the most for your GLP
- $YAK is now an Omnichain Fungible Token (OFTv2) using LayerZero technology to ensure cheap and seamless cross-chain functionality. YAK can be bridged to and from Arbitrum here.
- YAK's fully distributed token supply of 10,000 is unchanged.
- 100% of all platform fees on Arbitrum go to YAK. Simply deposit your YAK into the auto-compounding pool where all $ETH fees are distributed.
Background
Yield Yak’s mission since inception has been simple: build useful tools for DeFi users. This started three years ago with the launch of auto-compounding farms, and quickly expanded to include single-click leveraged strategies on top of lending protocols like Aave. Next came yield-boosted strategies built to support platforms such as Trader Joe, and Yield Yak were proud to be the first protocol to build a strategy on top of GLP, which remains the largest GLP vault on Avalanche.
Yak Contributors have built other DeFi tools as well, including Yak Swap, a zero-fee DEX aggregator with >$2.5B in trade volume which has saved users over $75M to date. Yak Swap has unique features like a GLP router and functionality to mint liquid-staking tokens if cheaper than market-buying.
Yield Yak’s strategies have been battle-tested with the protocol reaching over $750M TVL during peak market conditions, and has never suffered any exploits. Yield Yak’s auditors are CoinFabrik.
Why Arbitrum?
Arbitrum’s vibrant DeFi ecosystem has been the leading candidate for some time. There are several projects Yield Yak has already built strong relationships with on Arbitrum, including GMX, Trader Joe, WooFi and others. Arbitrum has a vibrant DeFi ecosystem and is currently home to TVL exceeding $2B.
How will Yield Yak succeed as a multi-chain protocol?
Gaining adoption in a new competitive ecosystem presents new challenges. Yield Yak is a contributor-run self-sustaining protocol with zero investors, VCs, and a fully distributed token supply which was airdropped to early users.
Yield Yak’s strategy has always been simple: build products for real DeFi users in a collaborative way which benefits the entire ecosystem. Yak has remained agile to the quickly changing landscape and stayed true to its strong community, and Yield Yak is bringing this same ethos to Arbitrum.
It’s worth noting that Yield Yak is one of but a few DeFi protocols which operate in a self-sustaining manner with zero emissions and 100% of fees collected and distributed transparently on-chain.
The $YAK Bridge
YAK tokenomics are not affected by the availability of a bridge. Only 10,000 YAK can ever exist with the fixed-supply accounting handled on Avalanche.
- YAK must be locked on Avalanche before it can be minted on Arbitrum
- YAK must be burned on Arbitrum before it can be unlocked on Avalanche
Yield Yak has partnered with LayerZero to turn YAK into an OFTv2 (Omnichain Fungible Token) which facilitates seamlessly moving YAK between chains. YAK can be sent to & from Arbitrum for zero fees (save gas costs).
Token Details
- Chain:
Arbitrum - Name:
Yak Token - Symbol:
YAK - Decimals:
18 - Address:
0x7f4dB37D7bEb31F445307782Bc3Da0F18dF13696
YAK Staking
On Arbitrum, YAK earns 100% of platform fees. These fees are distributed to YAK’s Arbitrum staking contract every time a pool is reinvested.
To start earning Arbitrum fees with your YAK, once bridged to Arbitrum, simply deposit into the YAK pool. This pool reinvests rewards earned by the YAK staking contract multiple times per day.
$YAK Liquidity
Liquidity for YAK on Arbitrum has already been seeded across multiple Arbitrum Decentralised Exchanges. You can buy & sell $YAK on Arbitrum using Yak Swap to ensure you get the best price.
How you can get involved
Yield Yak is fuelled by its community, and we look forward to welcoming new members who share the same passion for DeFi (and yield). Every month, Yield Yak rewards contributors who take action to help Yield Yak’s growth there, which can take many forms, be it as a developer, 3rd party integrator, or content creator. If you have any questions on how to take part, jump into our Discord community and our contributors will be there to welcome you.
About Yield Yak
Yield Yak builds tools for DeFi users on Arbitrum and Avalanche. Yield Yak farms auto-compound rewards for you. Yak Swap finds the best price execution for dex trades.