yAxis v3 Launches On Avalanche Network (AVAX)
Today, yAxis takes its first step along the path to becoming a multi-chain protocol with diverse revenue streams. Today, we launch the yAxis v3 DAO-directed, multi-asset, meta yield aggregator onto the Avalanche blockchain!
Our transition to a multi-chain platform is incredibly exciting. Why? Because, we not only give current users additional yield generating opportunities but we also get to introduce our core product to a whole new audience.
The good news is there’s really nothing to learn in order to use yAxis v3 on Avalanche. The UI is largely unchanged and all core functionality works the same on ETH as it does on AVAX. That means you will see familiar vaults, YAXIS locking for APR boost up to 2.5x, and veYAXIS voting to steer additional emissions to the vaults of your choice.
So, what’s new?
yAxis ETH <> AVAX UI Updates
Starting today, yAxis users will notice a new “Network Switch” button alongside the dark/light mode toggle button. The Network Switch allows users to seamlessly switch between Ethereum Mainnet and Avalanche C-Chain — and will automatically switch your MetaMask wallet on your behalf. Note that you will need to configure your wallet for Avalanche beforehand, but we provide you that information below or in the yAxis Resource FAQ.
Users will also notice the “Bridge” button in the Network Switch dropdown box. Clicking it takes you to the Multichain bridge that enables you to send YAXIS on Ethereum over to Avalanche.
Of course, if you’d prefer to buy your YAXIS on Avalanche directly, you can always use our “Get YAXIS” button on the Overview page.
And that’s everything you need to know to get started using yAxis v3 on Avalanche!
Avalanche and DeFi
The Avalanche Blockchain is EVM (Ethereum Virtual Machine) compatible, and it also supports Solidity (the most popular programming language for writing smart contracts). This means developers from Ethereum can quickly build and launch their protocols there.
The Avalanche ecosystem already boasts an impressive list of the “who’s who” of DeFi heavy weights, including Aave, Curve, Sushi, Trader Joe etc.
This is fantastic news for fans of DeFi, because the Avalanche versions of popular protocols are functionally the same and aesthetically similar as their Ethereum brethren.
However, some users might not be familiar with the Avalanche blockchain or they might not be acquainted with the nuances of navigating and interacting in a multichain environment.
The specter of moving assets between chains, new UI’s and distinct blockchain protocol features might sound daunting. Don’t worry, because yAxis is here to guide you, and below are a few tips to help you transition into the exhilarating world of multi-chain DeFi and the Avalanche ecosystem.
At any point if you have questions,
- Resources page and FAQ: https://resources.yaxis.io/faq
- Discord: https://discord.gg/a4Sd7Env87
- Additional links at the bottom of this article.
Bridge YAXIS From Ethereum To Avalanche
So, you’re ready to go multichain! First let’s talk about bridges.
What exactly are bridges in crypto and why do we need them?
Blockchain bridges, otherwise known as cross-chain bridges, are software that connects two blockchains and allows users to send cryptocurrency and or data from one chain to the other.
Now that that’s clear, how do we bridge our favourite tokens? Well, in fact, the process of bridging is really quite simple.
While detailed instructions are provided in the yAxis Resources FAQ and below, you may already be familiar with the process. For advanced users you need to do the following:
- Configure your web 3.0 wallet to use Avalanche network
- [Optional] Bridge tokens from Ethereum using multichain.org
- [Optional] Buy tokens on Avalanche, using traderjoe.xyz
- Set your wallet to Avalanche network and visit and log into yaxis.io
1. Setup MetaMask For Avalanche Network
Avalanche is unique in that it actually consists of three blockchains.
- X-Chain — the exchange chain
- P-Chain — Platform chain and
- C-Chain — contract chain.
It is the C-Chain where Avalanche deploys smart contracts and dApps, such as yAxis. As their names suggest, each of the three blockchains specialize in different tasks within the broader Avalanche ecosystem.
This means that if you have an Ethereum wallet address, you already have a “MIRRORED” or identical address that resides on the Avalanche blockchain.
In order to prepare Metamask for use with the Avalanche blockchain, all you’ll need to do is follow a few simple steps.
- Open Metamask
- Click on the Network selection dropdown box
3. Click on “Custom RPC” or “Add Network”
4. Enter the following information in the subsequent screen
- Network Name: Avalanche Network
- New RPC URL: https://api.avax.network/ext/bc/C/rpc
- ChainID: 43114
- Symbol: AVAX
- Explorer: https://snowtrace.io/
Once the information has been entered and then “saved” users are able to seamlessly switch between the Ethereum and Avalanche blockchains using Metamask.
2. How To Use Multichain Bridge
If you would like to transfer YAXIS to Avalanche from Ethereum, follow the instructions listed below.
1. Open https://app.multichain.org/#/router make sure you are connected to the ETHEREUM network.
2. Connect your wallet of choice
3. In the “From” section, select YAXIS and ETHEREUM MAINNET
4. In the “To” section, select YAXIS and AVALANCHE MAINNET
5. Click “Swap”
6. Click “Confirm” in the Multichain dApp.
7. Confirm and execute the transaction using your wallet of choice.
8. Check on Snowtrace for confirmation of the transaction.
Bridging YAXIS, is literally that easy.
3. Start Using yAxis v3 On Avalanche!
Now that you have your digital assets bridged onto the Avalanche blockchain, it is time to have fun, enjoy high TPS, low fees and to experience DeFi how it was originally envisioned. Accessible, inclusive, and convenient.
Did we hear someone shout yAxis?
Additional Resources
- YAXIS token address on Avalanche
https://snowtrace.io/token/0x91A1700835230B8b3B06B5B3DD1Fe70D48ACbd91 - YAXIS-WAVAX LP address on Avalanche
https://snowtrace.io/address/0xa3268e6d1aef5dfb3eb345d35d925cd2a64c5e87 - Buy YAXIS on Avalanche via Trader Joe
https://traderjoexyz.com/trade?inputCurrency=0xb31f66aa3c1e785363f0875a1b74e27b85fd66c7&outputCurrency=0x91A1700835230B8b3B06B5B3DD1Fe70D48ACbd91#/ - Multichain URL
https://app.multichain.org/#/router - Snowtrace Blockchain explorer
https://snowtrace.io/
