Q: yAxis is a DeFi yield portfolio that grows digital assets deposits through active management by the DAO. What are the special features of yAxis and how does it differ from its competitors?
yAxis is a DAO-directed meta-yield aggregator that features the Curve-inspired ve- token-locking mechanism. Locking YAXIS into veYAXIS provides users with up to 2.5x APR boost on their vault earnings. Voting with veYAXIS allows users to steer even more rewards to their vault(s) of choice.
veYAXIS holders are also entitled to revenue share, which is drawn from each Harvest. yAxis uses the Harvest function to automatically compound earnings on behalf of the user and takes a small percentage of the earnings as revenue to eventually distribute to veYAXIS holders. Our yAxis Harvest & Auto Compound feature will soon be transitioned to use Chainlink’s Keepers DevOps automation tools.
Q: Can you introduce your team to the readers? What relevant experience does it have and what projects have inspired you in your designs of yAxis?
The team is fully sourced from within the yAxis DAO.
| Team | Responsibilities | Experience |
| GainGoblin | Back-end development | An experienced back-end developer launching and maintaining successful tech companies |
| Haz | Back-end w/ frontend support | An all round developer with experience running a number of successful protocols |
| Gouda | Front–end development | A senior front end developer with experience across all industries |
| Bobby | Advisor (yield strategies, emissions control, institutional knowledge) | Experience in advising, launching and running successful companies in the crypto space |
| MrMister | Marketing, POC | Experience launching and leading tech startups as well as over a decade of full-stack marketing chops. |
| Waali | Procurement, finances, ops | Consultant with global experience working with top blue chip organizations |
| Mr. Papi | Community management, engagement, content creation | Decades of experience in community and project management, and content creator. |
Q: How did you achieve your funding requirements, was it from a token sale exclusively or a private funding? When was it?
Fair launch from the beginning. V1 launched in Oct 2020.
Q: yAxis currently offers 8 vaults on Ethereum. Are there plans to add more vaults and expand to other chains?
We are launching yAxis v3 this week on the Avalanche network with 4 vaults. We currently offer 8 vaults on Ethereum, with plans for more vaults and considering other chains (alt L1s and L2s).
Avalanche will launch with support for JOE, AVAX/WAVAX, TRICRYPTO, and 3CRV.
Q: Through which platforms do you invest the funds? Can you say what the breakdown across the platforms looks like?
We are currently focused on routing our yield strategies through Convex on ETH. But are branching out to the likes of TraderJoe and Aave on Avalanche.
Q: How do you see the future of meta yield farming? What are the biggest hurdles?
The future of meta yield farming is certainly bright. The biggest hurdles currently are the expectations for massive yield without consideration for long-term project health and sustainable, reliable earnings. We see the future of yield farming becoming more focused on capital discipline and healthy growth, which are tenants that yAxis has been built upon since day 1.
Q: What is the main use for the yAxis token? Is it governance or does it have additional features?
The YAXIS token is primarily used as a governance token with added utility. The token can be used to boost both personal yield as well as global vault yield.
We are currently exploring NFT and metaverse integration. In our opinion, 2022 is the year where DEFI services and NFT projects truly converge.
Q: What made you switch to ve tokenomics? Is it following back on Curve Finance’s sustained success?
We were indeed inspired by Curve’s success with the ve tokenomics model. The incentive-alignment across various user constituencies and the protocol itself, which aligned well with our capital discipline approach to token issuance and lock rates.
Q: How secure is yAxis? Have you been audited and if so by whom? Are the audit results available for public reading?
yAxis has been through a bevy of audits since v1. Our v3 architecture has been double-audited through both Haechi (Tier 1 centralized audit firm) and CodeArena (Tier 1 distributed smart contract audit). This multi-faceted leaned on CodeArena’s army of specialized smart contract security researchers to highlight issues ranging from best practices to gas optimizations to high-risk findings.
After addressing the issues found in the C4 audit, we ran our code through Haechi Audit and found only 1 material issue remaining.
This approach to security slowed down our deployment timeline, which drew some criticism from users expecting faster-paced development. However, we believe this approach makes our battle-tested vault architecture more secure, which is more important than speed of delivery.
Q: How many users are currently using yAxis?
We currently have about 2,200 users.
Q: Are there any exciting updates, announcements, or partnerships coming for yAxis in the immediate future that you can disclose today?
We’re super excited for the launch of yAxis v3 (vaults, veYAXIS, 2.5x APR boost, voting to distribute additional rewards to vaults) on the Avalanche network.
Shortly thereafter, we will be launching our self-repaying loan feature that offers higher LTV vs the competition. We’re excited for this feature as yAxis’s core v3 architecture is positioned to support the yield required to offer higher LTV and reasonable repayment timelines.
Beyond that, we’re looking toward a decentralized leveraged trading product. We’ll be talking about this more in the near future.
Q: Where is the best place for the community to interact with you?
We’re active on Discord, Telegram, Twitter, Forum. We would love to invite everyone to join the conversation at:
- Twitter: https://twitter.com/yaxis_project
- Discord: https://discord.gg/yaxis-project
- Forums: https://yaxis.discourse.group/
- Telegram: https://t.me/yaxisofficial
- Medium: https://yaxis.medium.com/
Q: Why is Staking Rewards the best partner for your project?
With our variety of supported assets and multiple options for generating yield through staking, we see StakingRewards as a priority partner to help us increase awareness for our protocol. We’re big fans of StakingRewards’ clean UX and deep insights throughout the DeFi ecosystem and are looking forward to a strong, continued partnership.