About

yAxis is an ethereum-based DAO (Decentralized Autonomous Organization) for meta yield farming. Investors deposit stablecoins into yAxis's MetaVault. These funds are invested into aggregators like yearn yVault, APY.finance, and Pickle pJars; these protocols do the actual farming, the DAO is simply a mechanism for sharing knowledge on pools and cheaply and conveniently transferring liquidity to those farms. In other words, yAxis is a DAO for farming the farmers.

History

History yAxis launched with ultimate goal of bringing yield farming to non-crypto native users in the most seamless way possible, with as little gas as possible, and without sacrificing any of the benefits of active strategy management. The anonymous team behind yAxis launched its DAO on September 15, 2020 and its v1 vaults in November.

YAX, the yAxis governance token, was fair-launched (no pre-mine, no VCs) with a fixed cap of 1,000,000 and was swapped to YAXIS on April 2021.

Meta Farming yAxis deposits are placed in the MetaVault. In return for depositing coins into the vault, investors receive the MetaVault token (MVTL); the MVTL represents a stake in the MetaVault for the deposited assets. MVLT’s in theory will appreciate in value as the stablecoins deposited are utilized to yield farm other protocols. The rewards for farming other protocols are split between YAX stakers and the MVTL – 20% of the harvested governance tokens goes to voters and 80% goes to the MVTL pool, which is automatically compounded. 100% of the underlying strategy's reward goes to the vault.

By building on the layer above yield aggregators like yVault the DAO acts as a decentralized fund manager to the portfolio, able to switch and split funds between projects on the layer below. Currently 7 strategies are available at launch to select from, but more are planned.

If a better farming opportunity is identified, funds from the MetaVault are converted into the appropriate asset and deposited into the new yield aggregator. Users wishing to withdrawal their funds simply swap MVTLs for their assets plus interest. Withdrawers can withdraw funds into any stablecoin.

2021 Roadmap: Although the MetaVault is stablecoin denominated, MetaVault plans on expanding its portfolio listings. V2 is a stablecoin MetaVault. yAxis v3 Canonical Vaults that allow for any additional single-token strategies are expected by the summer of 2021, starting with ETH, LINK and tokenized BTC vaults. Canonical Vaults have the added advantage that they can implement single-asset borrowing from the likes of Aave and MakerDAO as well as yield farming strategies.

In order to make the investing process seamless for non-native Ethereum users, yAxis is planning a BTC bridge as well as in-dApp fiat on-ramps in the near future.