The Weekly Yax #6: The Champions Table

  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.
  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.

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