YAxis launches Its V3 Canonical Vaults On Ethereum Mainnet.

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Dec 6, 2021

  • yAxis launches its v3 Canonical vaults on Ethereum mainnet.
  • V3 vaults are DAO-directed, multi-asset, meta yield aggregators.
  • Gas-free auto-compounding on the highest, trusted yields available. 
  • Deposit digital assets into yAxis vaults to earn base yield and YAXIS rewards.
  • Five asset-based vaults (ETH, BTC, USD, LINK YAXIS) supported on launch with many more to follow. 
  • V3 vaults introduce DAO-directed mechanisms that personalize APR & “BOOST” $YAXIS rewards. 

With the v3 protocol upgrade, yAxis have fundamentally changed the way their protocol generates yield.

A key component of this is the introduction of mechanisms that personalize APR and “Boost” rewards.

Personalized APR boosts are achieved by locking up YAXIS into the protocols voting contracts. In return, users receive voting power or veYAXIS, (voting escrow YAXIS). It is the veYAXIS that enables users to:

  • Boosts vault yields by up to 2.5x
  • Receive a cut of vault performance fees
  • Vote on which vaults receive how much YAXIS rewards

Simply put, the v3 vaults have transformed the YAXIS token into a governance token on steroids!

V3 Vaults are a great extension

In addition, the V3 vaults further increase yield by auto-compounding funds on the user’s behalf.

This v3 feature is of huge importance considering the current, often prohibitively high costs of transacting on the Ethereum mainnet.

Another key component and protocol differentiator is an emphasis on Vault security. In the lead-up to the v3 vault launch, the yAxis team employed a staggered-multifaceted audit approach, in which they combined a community-driven competitive smart contract audit run by Code4rena with that of a more conventional audit from top tier auditors Haechi. 

Multiple audits, coupled with the associated buildout of advanced yAxis security features, have created one of the most robust and dynamic cybersecurity solutions in the industry.

With the successful release of V3, the yAxis team has now shifted its focus to the next phase of their roadmap.

This includes rapidly expanding the number of vaults available to users, L1 – L2 multi-chain deployment, and the rollout of a recently audited borrow – lend feature that will let users deposit interest-bearing collateral, in order to borrow stablecoins in return.

Find out more about yAxis and the v3 vaults

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PR Manager

Press release about recent ICOs, announcement from startups, new cryptocurrency launch by firms and unlike.

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