yAxis is a meta yield aggregator.
Simply put, first yAxis sources yield from across DeFi’s top opportunities. It then provides depositors with easy and passive access to these returns through a streamlined, user-friendly platform.
Take note accordingly, as yAxis leveled up in a big way this week via its new v3 protocol upgrade. This upgrade’s optimizations turn yAxis into a DAO-directed, multi-asset yield maestro that’s dependable for both DeFi novices and DeFi veterans alike.
What’s new in yAxis v3?
At the heart of the new yAxis system is its v3 vaults. Built for retail and institutional investors, these vaults have been designed to reliably source returns from a range of high-yielding DeFi opportunities.
That said, a major advancement of the v3 system is the ability for users to personalize their vault APRs. This comes thanks to the YAXIS token, which yAxis v3 vault depositors currently earn as rewards alongside the vaults’ base yields.
As such, users can sit back and passively earn yield + YAXIS, or they can lock up their YAXIS to receive voting power tokens called veYAXIS. The more YAXIS you lock and the longer you lock it for, the more voting power you receive.
This locking system allows users to earn up to x2.5 yield boosts on their vault deposits plus a portion of the yAxis v3 vaults’ performance fees. It also allows lockers to vote on which vaults earn how much of the ongoing YAXIS reward distribution. Want higher rewards for your vault of choice? Vote for it!
Exploring the new yAxis UI
Along with the v3 upgrade, the yAxis team has released an optimized UI to make its DeFi services that much easier to use.
To check out the new-and-improved platform, you can head over to app.yaxis.io. You’ll be greeted with a welcome prompt introducing the v3 updates and asked to connect your wallet. At this point, you’ll also be offered the opportunity to migrate over an older yAxis position if you have one.
Once you’re in you’ll land on the yAxis Overview page, which displays key stats like the YAXIS price, your deposit sums, and your accrued voting power. Note that the top of the app provides links to the Vault, Liquidity, and Governance dashboards.
The Vault dashboard, partly pictured above, lets you deposit or withdraw funds from the yAxis v3 vaults, which are the Canonical USD, BTC, ETH, LINK, and YAXIS vaults to start. This area of the platform is also where users track and claim their YAXIS rewards.
Next, the Liquidity dashboard provides a simple interface where people can easily add or remove liquidity from the incentivized Uniswap V2 YAXIS-ETH pool. You can stake your ensuing LP tokens here, too, after you’ve allowed yAxis to use them with an approval transaction.
Last up is the Governance dashboard. This is the command center for locking YAXIS, personalizing your vault APRs, voting on YAXIS distributions, and voting on yAxis Improvement Proposals.
The big picture
With yAxis v3, the choice is up to you when it comes to going turbo or keeping things simple and passive with your DeFi yield activities. And keep in mind that the new system is just getting started. Going forward, the yAxis team has plans for multi-chain deployments, new vaults, a metaverse project, and more. In the meantime, stay up to date on the project by following yAxis on Twitter or hopping into the yAxis Discord.
Disclosure: This post is part of our paid promotional DeFi Pulse Drop series; We’ve partnered with yAxis to help educate and inform the community about their yield aggregator services. As always, we’re committed to providing the entire community with quality, objective information, and any opinions we express are our own.