YYAVAX
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YYAVAX

Yield Yak AVAX 2-5 years
Cryptocurrency
Website https://yieldyak.com/liquid-staking
Browser
OTH RELPs
White Paper
YYAVAX Avg Price
0.00%
1D

$ 38.77 USD

$ 38.77 USD

Market Cap

$ 1.588 million USD

$ 1.588m USD

24h trading volume

$ 251.39 USD

$ 251.39 USD

7d Vol

$ 1,304.83 USD

$ 1,304.83 USD

Circulating supply

0.00 0.00 YYAVAX

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Current Rate0

Available

0.00USD

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WikiBit Risk Alerts

1
Previous Detection 2024-11-22

WikiBit has marked the token as air coin project for we have received overwhelming complaints that this token is a Ponzi Scheme. Please be aware of the risk!

YYAVAX Price Chart

Introduction

Markets

3H

0.00%

1D

0.00%

1W

0.00%

1M

+21.55%

1Y

+67.5%

All

+84.38%

Short nameYYAVAX
Full nameYieldYak AVAX
Support exchangesTrader Joe,BENQI,Pangolin
Storage WalletMetamask, Coinbase wallet, Rainbow, WalletConnect
Customer ServiceTelegram, Twitter, Discord, DeBank

Overview of YieldYak AVAX(YYAVAX)

YieldYak AVAX (YYAVAX) is a decentralized finance (DeFi) token built on the Avalanche blockchain, designed to optimize yield farming opportunities for investors. Supported on major Avalanche-based decentralized exchanges like Pangolin, Trader Joe, and YetiSwap, YYAVAX offers users access to a robust ecosystem of liquidity pools and yield aggregation strategies. By leveraging these platforms, investors can participate in yield farming with competitive APYs, compounding their returns through automated strategies facilitated by YieldYak's integration across multiple DeFi protocols on Avalanche.

To obtain more information, you can visit their website: https://yieldyak.com/liquid-staking and try to log in or register to use more services.

Overview of YieldYak AVAX(YYAVAX)

Pros and Cons

ProsCons
  • High Yield Potential
  • Market Volatility
  • Integration with Major DEXs
  • Smart Contract Risks
  • Transparency and Security
  • Impermanent Loss

Pro:

High Yield Potential: Offers competitive APYs through automated yield farming strategies.

Integration with Major DEXs: Supported on popular Avalanche-based decentralized exchanges like Pangolin and Trader Joe, providing liquidity and accessibility.

Transparency and Security: Utilizes Avalanche's robust blockchain technology for transparency and security.

Con:

Market Volatility: Vulnerable to market fluctuations affecting token value and yield farming returns.

Smart Contract Risks: Potential risks associated with smart contract vulnerabilities despite security measures.

Impermanent Loss: Exposure to impermanent loss in liquidity pools when compared to traditional investment strategies.

What Makes YieldYak AVAX(YYAVAX) Unique?

YieldYak AVAX (YYAVAX) stands out in the decentralized finance (DeFi) landscape on Avalanche due to its focus on optimizing yield farming through a diverse array of strategies. Unlike traditional yield farming tokens, YYAVAX integrates with major Avalanche-based decentralized exchanges like Pangolin and Trader Joe, offering users access to multiple liquidity pools with competitive APYs. Its unique selling point lies in leveraging automated yield aggregation across various DeFi protocols, ensuring users benefit from compounded returns while minimizing manual intervention.

What Makes YieldYak AVAX(YYAVAX) Unique?

How does YieldYak AVAX(YYAVAX) Work?

YieldYak AVAX (YYAVAX) operates by deploying automated yield farming strategies on the Avalanche blockchain. Users can stake YYAVAX tokens into liquidity pools across platforms like Pangolin and Trader Joe, where the tokens are used to provide liquidity and earn rewards. The protocol dynamically reallocates these assets based on prevailing market conditions and yield opportunities, optimizing returns through compounding strategies.

How does YieldYak AVAX(YYAVAX) Work?

Market & Price

YieldYak AVAX (YYAVAX) is currently trading at $32.30, reflecting a 1.84% increase over the past 24 hours. With an all-time high of $71.20 recorded on March 19, 2024, the token has experienced a significant decline of 54.63% since then. Conversely, it has shown substantial growth from its all-time low of $0.3831 on January 19, 2024, marking an impressive increase of 8331.84%. The token is rated 3.2 out of 5 based on institutional ratings, indicating moderate confidence in its performance.

Market & Price

Exchanges to Buy YieldYak AVAX(YYAVAX)

YieldYak AVAX (YYAVAX) can be purchased on several prominent decentralized exchanges within the Avalanche ecosystem. Notably, it is supported on Trader Joe, BENQI, and Pangolin. These platforms offer users access to YYAVAX liquidity pools, enabling efficient and secure transactions. Trader Joe and Pangolin are well-known for their robust trading interfaces and liquidity, while BENQI provides additional lending and borrowing functionalities, enhancing the utility of YYAVAX within the decentralized finance landscape.

Exchanges to Buy YieldYak AVAX(YYAVAX)

How to Store YieldYak AVAX(YYAVAX)?

YieldYak AVAX(YYAVAX) can be stored in Metamask, Coinbase wallet, Rainbow, WalletConnect.

MetaMask:

MetaMask is a widely used cryptocurrency wallet that supports YieldYak AVAX (YYAVAX). As a browser extension and mobile app, MetaMask offers users a convenient and secure way to store and manage their YYAVAX tokens. It provides a user-friendly interface, seamless integration with decentralized applications (dApps), and robust security features, making it an ideal choice for both beginners and experienced users in the DeFi space.

Coinbase Wallet:

Coinbase Wallet is a standalone wallet that enables users to store their YieldYak AVAX (YYAVAX) tokens securely. Unlike the main Coinbase exchange, the wallet gives users full control over their private keys. With support for a wide range of cryptocurrencies, Coinbase Wallet ensures that users can easily manage and access their YYAVAX tokens while benefiting from the wallet's enhanced security measures and intuitive interface.

Rainbow:

Rainbow is a mobile wallet specifically designed for Ethereum and Ethereum-based assets, including YieldYak AVAX (YYAVAX). Known for its vibrant and easy-to-use interface, Rainbow allows users to store, send, and receive YYAVAX tokens effortlessly. It also supports WalletConnect, enabling users to interact with various DeFi applications directly from their wallet, thus enhancing the overall user experience in managing their crypto assets.

WalletConnect:

WalletConnect is a protocol that allows users to connect their mobile wallets, such as MetaMask, Rainbow, and others, to decentralized applications (dApps) via a secure connection. By using WalletConnect, users can store and manage their YieldYak AVAX (YYAVAX) tokens on any compatible wallet while enjoying seamless interaction with dApps on the Avalanche network. This flexibility ensures that users can choose their preferred wallet for storing YYAVAX tokens while maintaining secure and efficient access to the DeFi ecosystem.

How to Store YieldYak AVAX(YYAVAX)?

Is It Safe?

YieldYak AVAX (YYAVAX) is designed with a focus on security and transparency, leveraging the robust infrastructure of the Avalanche blockchain. The platform employs automated yield farming strategies, reducing the risk of human error and ensuring optimal performance. While YieldYak integrates with reputable decentralized exchanges like Trader Joe and Pangolin, and uses well-audited smart contracts, users should remain aware of inherent risks in DeFi, such as smart contract vulnerabilities and market volatility. As with any investment, it's essential to conduct thorough research and consider employing additional security measures, such as hardware wallets, to safeguard assets.

Conclusion

YieldYak AVAX (YYAVAX) represents a compelling opportunity within the decentralized finance (DeFi) landscape, offering optimized yield farming strategies on the Avalanche blockchain. With its integration across major decentralized exchanges and a focus on maximizing returns through automated compounding, YYAVAX provides users with efficient and diversified investment options. While it carries the inherent risks of DeFi, including market volatility and smart contract vulnerabilities, YieldYak's robust infrastructure and commitment to security make it a noteworthy choice for investors seeking to enhance their DeFi portfolio.

Frequently Asked Questions

What is YieldYak AVAX (YYAVAX)?

YieldYak AVAX (YYAVAX) is a decentralized finance (DeFi) token on the Avalanche blockchain, designed to optimize yield farming opportunities. It offers users access to a range of automated yield aggregation strategies across various decentralized exchanges, aiming to maximize returns through efficient asset allocation and compounding.

What consensus mechanism does YYAVAX Network use?

The YieldYak AVAX (YYAVAX) operates on the Avalanche blockchain, which uses the Avalanche consensus mechanism. This innovative consensus protocol ensures high throughput, low latency, and robust security, enabling fast and scalable transactions.

Can YYAVAX Network support cross-chain communication?

Yes, the Avalanche network, on which YYAVAX is built, supports cross-chain communication. This capability allows assets and data to be transferred seamlessly between different blockchain networks, enhancing interoperability and usability.

What are the advantages of native cross-chain communication on YYAVAX Network?

Native cross-chain communication on the YYAVAX Network facilitates efficient asset transfers and data exchange between various blockchains. This interoperability reduces transaction costs, improves liquidity, and broadens the scope of DeFi applications that can interact with YYAVAX, enhancing the overall ecosystem.

Is YYAVAX Network compatible with Ethereum Virtual Machine (EVM)?

Yes, the YYAVAX Network is compatible with the Ethereum Virtual Machine (EVM). This compatibility allows developers to deploy and interact with Ethereum-based smart contracts on the Avalanche network without modifications.

How does EVM compatibility benefit developers on YYAVAX Network?

EVM compatibility benefits developers by enabling them to use familiar Ethereum development tools and frameworks, such as Solidity and Remix, to build and deploy decentralized applications (dApps) on the YYAVAX Network. This lowers the barrier to entry and accelerates the development process by leveraging existing knowledge and resources.

How can I acquire YYAVAX tokens?

You can acquire YYAVAX tokens on several prominent decentralized exchanges within the Avalanche ecosystem, including Trader Joe, BENQI, and Pangolin. To purchase YYAVAX, you need to have an Avalanche-compatible wallet, such as MetaMask, Coinbase Wallet, or Rainbow, which can be connected to these exchanges for secure transactions.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

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Related information

Issue Time

2022-09-20

Platform pertained to

--

Current price

$38.77USD

Market Cap

$1.588mUSD

Volume of Transaction

24h

$251.39USD

Circulating supply

0.00YYAVAX

Volume of Transaction

7d

$1,304.83USD

Change

24h

0.00%

Number of Markets

18