A veJOE boosted $BUSD – $AVAX farm featuring native BUSD by @traderjoe_xyz is now open for deposits on Yield Yak.
Current APY of 89% ( at the time of writing ) thanks to the veJOE boost, with plenty of bandwidth available for more TVL.
What Is Trader Joe?
Trader Joe is a comprehensive AMM decentralized finance protocol built on the Avalanche blockchain, supporting Avalanche C-Chain tokens. Trader Joe combines DEX and DeFi lending to provide leveraged trading and bring users a perfect trading experience with high speed and low cost.
Currently, there is a limit on the number of AMMs that can operate on the Avalanche Network, which means that the threat of competition for Trader Joe is very low.
BUSD-AVAX
This strategy has returned 78.66% APY on JLP based on recent performance.
- 5.56% from swap fees
- 73.10% from farm rewards
Without compounding effects or swap fees, this strategy has returned 54.94% APR on JLP from farm rewards. The figure is extrapolated over a year based on recent performance. Over other time periods:
- 0.15% per day
- 1.06% per week
- 4.58% per month
Yield Yak calculates returns based on actual performance, and includes factors like platform fees and trade slippage. Returns are variable and you may not realize the full impacts of APY if a farm stops emitting rewards or other factors change.
How To Start Earning
- Step 1 – Visit the BUSD-AVAX farm page here
- Step 2 – Fund your wallet with JLP created from the Native BUSD and Avax here
- Step 3 – Deposit Your JLP to YieldYak to start farming! ( Highlighted Below)
To Withdraw your JLP, simply visit the withdraw tab under “My Account”
How does Yield Yak work?
Yield Yak auto-compounds yield farm rewards.
- Each farm is a pool of deposits from Yield Yak users
- Farms earn reward tokens (like $PNG)
- Farms reinvest all rewards, compounding everyone’s deposits
All depositors benefit from the very high frequency of Yield Yak compounding.
Website | Twitter | Telegram | Medium | Discord
