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 #4 Key Takeaways

  1. The Great Harvest (GH) Components:
  2. The Winter Stash: 200k YAXIS boost to staking and LP rewards for the autumn and winter seasons of Era 1, which is currently live.
  3. The Merkle Drop: 200k YAXIS to be shared by eligible addresses relative to their staked amount at the time of the drop in August.
  4. Era 2 Gauges: 600k YAXIS boost distributed proportionate to the time stakers choose to lock in Era 2.

The GH is funded by Era 1 buybacks and the flexible allocation in the Project treasury.

  1. Motivation, Goals, and Value Proposition for GH: The motivation and goals for the GH are to reward early supporters, help grow their YAXIS stack, and generate opportunities to compound these rewards in future Eras by earning a larger share of yield farming profit. The value proposition for the Project is to help limit selling pressure, support the token price, and attract even more TVL in v3, driving revenue for holders.
  2. Eligibility for GH:
  3. Winter Stash: Any LP or staker through the end of Era 1.
  4. Merkle Drop: Only stakers, as they govern the Vaults and the Drop represents a boosted distribution of yield farming revenue, who staked by 11:59 pm UTC on May 15th through July 17th and do not withdraw from the address, sell YAXIS or sell YAXIS rewards of any kind. Attempts to game the system with late transfers or otherwise can expect to be excluded.
  5. Gauges: Only stakers with a time-lock component starting in Era 2. The time lock simulates vesting. More details to be released closer to launch.
  6. Bottom Line for GH: The GH presents a unique opportunity to grow your stack and leverage these gains in future Eras, especially with the game-changing nature of Canonical Vaults launching in Era 2. Follow the Merkle Drop eligibility guidelines provided and stay within the spirit of the program, and you will be rewarded.
  7. Sneak Peek at the Road Ahead: Questions discussed during this episode provided a sneak peek into the yAxis Partner Programme, which will help drive Vault TVL, and built-in vault deposit insurance, which will offer higher yield to those depositors willing to secure the deposits of others. More details on these initiatives will be communicated closer to their respective launches.

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

yAxis Project Stats of the Week

  1. MetaVault TVL $131 million, earning 38% APY.
  2. YAXIS staking 1,414% APY (273% APR) and LP 2,112% APY (353% APR).
  3. Over 2,920 YAXIS bought back with MetaVault revenue this week for distribution in The Great Harvest.

Community Content Spotlight

This week’s community content spotlight goes to haradasiegel. Haradasiegel is building a query to help track staking addresses still eligible for The Great Harvest Merkle Drop over the course of Era 1 based on how many addresses withdraw or sell YAXIS. Only the strongest hands will survive. A big thank you to haradasiegal from the yAxis community! We’re excited to see how this effort evolves.

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 fourth edition of The Weekly Yax. Thank you for reading and looking forward to many more!

Onward and upward, Yax Herd!

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