The Weekly Yax #6: The Champions Table

yAxis Project
4 min readMay 30, 2021

The Weekly Yax is the easiest way to keep up with the yAxis Project.

Every Sunday, we highlight major news and developments, alongside key takeaways from the week’s episode of Ya Herd?

Major News & Developments

Ya Herd? Week #6 Key Takeaways

  1. Motivation for the Champions Table: The Champions Table serves to complement The Great Harvest by offering largely non-financial incentives for all members of the yAxis ecosystem — stakers, LPs, and MetaVault users. Based upon community feedback, the Champions Table is open to all Herd members, regardless of when they joined the Project.
  2. Champions Table Components & How to Get Involved: The Champions Table will consist of two main components: (1) End of Era Awards, designed to reward top community contributors, Herd members who have “done the impossible” on-chain, and users of the Canonical Vaults in celebration of Era 2 and (2) Design Contests, in which community members can create and vote on various designs for merchandise, artwork, NFTs, etc. Winners will receive Champions Table prizes. The first design contest is the “Cointest,” in which Herd members are encouraged to submit designs for the minting of the first-ever physical yAxis coin.
  3. yAxis Project Marketing Strategy: The yAxis marketing strategy to date has been multi-faceted, utilizing Twitter and social media engagement statistics to broaden its reach, assembling partnerships, integrations, whitelists, and research outlet coverage to target to crypto native capital, incentivizing grassroots community engagement, contributions, and contests/quizzes to drive awareness and build organic support, and pitching yAxis’s security features and v3 developments to potential institutional partners.
  4. Canonical Vault Delegated Strategy Risk Management: Delegated strategies in v3 Canonical Vaults will replicate Yearn’s delegated vaults (i.e. yaLINK vault) as strategies. These strategies will, upon every interaction, determine their health factor to recognize if they can borrow more funds or need pay off loans to mitigate liquidation risk. This approach combined with Chainlink’s keepers will keep the funds safe even during market drawdowns.

The full recording of this week’s episode can be found here.

yAxis Project Stats of the Week

  1. MetaVault TVL $58 million, earning 36% APY.
  2. YAXIS staking 585% APY (193% APR) and LP 983% APY (264% APR).
  3. Over 1,230 YAXIS bought back with MetaVault revenue this week for distribution in The Great Harvest.

Community Content Spotlight

Flashback to week 3 of the Weekly Yax, where we highlighted Bakou’s efforts to help yAxis communicate the buybacks from MetaVault revenue. Thanks to Bakou’s hard work, the buyback tracker is now complete and integrated into the yAxis Project Discord.

Pop in the #buyback-tracker channel to see the tracker in action. An example message is shown below. The yAxis Project is lucky to have such an engaged community committed to driving its growth and future success.

Join Us: Bounties & Jobs

Coordinated by the yAxis Champions Programme, the yAxis Bounty Board lists requests for proposals (RFPs), where community members can respond to specific Project needs and receive compensation upon task completion. See the current opportunities below and check the Bounty Board frequently as more opportunities will be added over time.

If none of the current opportunities appeal to you, but you would still like to contribute, reach out to waali@yaxis.io. You have the opportunity to shape the next era of yAxis.

That concludes the sixth edition of The Weekly Yax. Thank you for reading and looking forward to many more!

Onward and upward, Yax Herd!

--

--