Even though we are in the middle of a tough bear market, the building doesn’t stop and there are more and more options to follow in order to generate yield with our $AVAX. After the successful launch of Benqi’s sAVAX, the launch of the liquid staking by the Yield Yak protocol (yyAVAX) adds an interesting alternative to diversify your portfolio. Here are three possible strategies to follow with your liquid AVAX to squeeze that yield.
Maximise your yield with Kyberswap
Starting with the well-known sAVAX, an interesting strategy to follow is to take advantage of the high APR offered by Kyberswap’s YUSD-sAVAX pool, thanks to its collaboration with Benqi and Yeti Finance. By farming this pool, you will generate $KNC, $QI and &YETI, with an APR of over 150%, which is unusual for a relatively low-risk pool in the current state of the market. An alternative to follow with yyAVAX is to auto compound it with USDC.
Use yyAVAX as collateral in Moremoney protocol
Moremoney is a borrowing protocol, where you can provide your yyAVAX as collateral, an interesting option as, while you receive the liquid yield, you can also use your AVAX as collateral to do more complex strategies. Here is an helpful post that shows how to do it.
Diversify your strategy with aHYPE
$aHYPE is the token of the Kassandra DAO protocol, which is a Social Index that reflects the performance of a portfolio selected from the most socially active cryptocurrencies in the past 30 days, if you want to learn more click here. The recent advantage of this strategy is that now the corresponding % of the investment in AVAX, which is 70% of the token value, is now converted into sAVAX, increasing the yield that can generate, making it even more interesting than before.
These are just some of the options available, but there are surely other interesting strategies out there. Ready to get your AVAX to generate yield?
