This space is hosted by FortiFi_
Space Summary
The Twitter space explored the journey of Yield Yak, a leading DeFi project on the Avalanche network, showcasing its rapid ascent in popularity, innovative features such as flexible Vaults and staking options, and the pivotal role of community feedback in influencing its development roadmap. The project's dedication to transparency, upcoming partnerships, and ambitions to expand to multiple chains beyond Avalanche illustrate its strive for wider market penetration and sustained expansion. Yield Yak's focus on creating lasting value and continuous community involvement differentiates it in the competitive DeFi landscape, reflecting broader trends in the evolving crypto ecosystem.
Questions
Q: How did Yield Yak gain its popularity within the Avax DeFi community?
A: Yield Yak gained popularity through its innovative features, community engagement, and transparent approach, resonating with Avax DeFi users.
Q: What innovative features does Yield Yak offer to users?
A: Yield Yak offers innovative features like flexible Vaults and single-staking options, providing unique opportunities for users.
Q: How does community feedback influence Yield Yak's development roadmap?
A: Community feedback plays a significant role in shaping Yield Yak's development roadmap, guiding decisions and priorities for the project.
Q: What principles guide the team behind Yield Yak in their interactions with the community?
A: The team behind Yield Yak values transparency, responsiveness, and community input, ensuring a collaborative approach and addressing concerns promptly.
Q: What were some key milestones in Yield Yak's journey discussed during the Twitter space?
A: Key milestones included the successful launch of Yield Yak, growing community participation, and plans for ecosystem expansion through partnerships and multi-chain support.
Q: What partnerships are being considered to enhance Yield Yak's ecosystem?
A: Partnerships with other projects are being considered to enhance Yield Yak's ecosystem and broaden its market reach, fostering growth and innovation.
Q: In what ways does Yield Yak plan to expand beyond the Avalanche network?
A: Yield Yak plans to expand support for more chains beyond Avalanche, aiming for broader market accessibility and ecosystem resilience.
Q: What values does Yield Yak prioritize to differentiate itself in the DeFi space?
A: Yield Yak prioritizes sustainability, long-term value creation, community engagement, and innovation to differentiate itself in the competitive DeFi landscape.
Highlights
Time: 01:52:00
Introduction and Tone Setting, The host initiates the discussion, welcoming participants and setting the tone for the conversation.
Time: 04:10:00
Speaker Introduction: Dylan aka Ravageur, Dylan, also known as Ravageur, introduces himself and his role within Yield Yak.
Time: 05:19:00
Platform Updates Rationale, Insight into recent updates on the Yield Yak platform and the reasoning behind those changes.
Time: 12:33:00
Impact of Treasury Management Changes, Explanation of alterations in treasury management leading to increased yields for Yak stakers.
Time: 17:35:00
Deep Dive into GLP Farm Strategy, Detailed breakdown of Yield Yak’s GLP farm strategy, emphasizing its uniqueness and efficiency.
Time: 30:12:00
Product Wind-Down Decision Process, Insight into the decision-making process behind winding down specific products and the role of governance in the process.
Time: 41:10:00
Enthusiasm for Delta Prime Collaboration, Exciting discussion surrounding the Delta Prime project and its potential impact on the Avalanche DeFi ecosystem.
Time: 42:18:00
Conclusion and Future Plans Preview, Final reflections on future plans, community involvement, and an invitation for continued engagement in future sessions.
Key Takeaways
- Yield Yak gained significant popularity within the Avax DeFi community.
- The project offers innovative features like flexible Vaults and single-staking options.
- Community engagement and feedback play a crucial role in shaping Yield Yak's roadmap.
- The team behind Yield Yak emphasizes transparency and responsiveness to community concerns.
- The discussion touched on the project's successful launch and continued growth.
- Partnerships with other projects are in the pipeline to enhance Yield Yak's ecosystem.
- The team aims to expand support for more chains beyond Avalanche.
- Yield Yak's focus on sustainability and long-term value creation sets it apart in the DeFi space.
- The evolution of Yield Yak reflects the dynamic nature of DeFi projects in the crypto space.
- Plans to host more Twitter spaces on Avax DeFi in the near future were discussed.
Behind the Mic
Hello everyone and welcome to another episode of forkast we are very excited for another episode I'm joined here by my lovely cohost meta onions it's a me and today we have a very special guest on the line a very dear friend of mine someone that I respect a lot dylan from yield yak and today fam on the line with him can't wait to kind of hear what's going on over at yield yak and a lot of the developments they've got in the pipeline there's been a lot changing both in the near term and the long term for I yield yak and they're just constantly building super excited to just get dive into it so dylan is specifically yield yak's director of defy strategy and today those that are listening if you could feel free to also hop in share the space we'll invite you up to speak later on but we'll just dive right into it so dylan do you want to say hello let everyone know what's up hey hi everyone really glad to be here super excited for this conversation today awesome yeah same so yeah we love starting with kind of the basics for anyone here that might not be familiar with yield yak can you explain kind of what yield yak is at its fundamental level I can take a ride so fundamentally yield yak is it's an auto compounder focusing on max so we provide tools for users who just want to invest in some farms want some yield exposure to different parts of avax projects and we try to make this as efficient as possible including things that running the strategies on chain these kinds of things so we really try to lower the cost for users to find exposure to eat different interesting farms we're always looking to help people with their defy exposure in a seamless kind of way yeah awesome I think it's amazing I think IAVJARQ as a yield aggregator has, achieved quite a lot we've seen, just auto compounders, auto harvesters even in pure ethereum v mixed which is kind of unique in its own sense yeah and I personally used yield yak multiple times and absolutely love it and I know quite a few people, that are here are avid, yield yak farmers themselves so to kind of jump right in, kind of wanted to take a time machine back to when you first started yield yak I know you probably won't rehash much of this but myself in the audience really do always think it's interesting to think about the time when someone got started especially during the market and current situation what was really the first thinking of building yield yak and then how did it kind of gain traction over time did it lead into something initially or was it just something that you were like oh you know what I've got an idea let's just do it and then see what happens there so I wasn't fully around when when things first originally kicked off but the idea was you know during the DeFi summer there was a lot of inefficient solutions around you had to go to different protocols to try and get your maximum yield and sometimes it wasn't regular compounding of interest and it can just be very time consuming having to manage lots of different strategies so they simply wanted to try and optimize it and it was also tied into avax because avax back in the early days was looking for use cases for the chain you can see sort of other projects springing up around there and it was all very a community grassroots initiatives in the first place it's really refreshing now to see how vibrant avax and avalanche ecosystems grow into and the role that yak still plays in that within that ecosystem so it was the time that they thought was right and I think they hit on a very good idea in terms of efficiency for users, definitely I think the numbers speaks for themselves you know tvl still one of the leading tvl protocols on avax in this current current market is absolutely killer usually an indicator a project's more legitimate compared to others you know looking back at kind of the first days growing pump chart what was one of the biggest challenges I think you guys had to face if you look at the yield fork space it's very saturated and you have a lot of different offerings everyone kind of specializes in something so I'm kind of curious what was one of the biggest challenges you guys maybe has to overcome to reach this level now you know it's actually a I think it's kind of interesting how should I phrase this I think when you talk about challenges you also have to talk about advantages in one sense so you've identified the space around yields very cash rated but yak was very early to market on avax so they were the dominant player and they grew as more and more avax projects they had the experience of managing a large protocol during those times in the way that deltas were moving around various issues coming up to do with bridging etc and they're also very weather tested in that sense perhaps what was more challenging is being there for the long term and growing a team we've tried to really branch out to other chains we'd like to work more cross-chain we're here for the long term and having a motivated basis of yak holders was very important to us our community is very active very passionate what yak offers for them so we want to retain that those are probably the biggest challenges but um we're very proud of how it's going so far the vibrant community around us and they're always helping out by showing up with lots of enthusiasm definitely well said um I guess if we're kind of looking forward what's on the horizon for you guys are you guys moving down narratives focused more on um you know cross chain or what what is uh what is like the next year or two for you yak look like um in in more high level view okay yeah so you hit the nail on the head there cross-chain is really important there's lots of different chains popping up everywhere now and different chains will have different dominance types of chains for different assets for example we're also looking up at ways of increasing the granularity of the product in terms of what we can offer so beyond traditional farms yields and joining it to other products we're investing our time and resources into so this means whatever your outlook is on the market what your investments are we can tailor that exposure for you via yak's products we really want to try and offer best solutions for everyone's investments looks like that's going to be a bit of research and development but that's going to be our focus fantastic I am super stoked for that and it's nice to hear that um yield yak is still building and thriving outside of the initial chain um so between doing a lot of multi chain plays do you guys see yourselves kind of moving into new forms of vertical integration with those chains or just kind of sticking to uh what you guys have most trusted in most of all um it's a good question so I'll start to say uh uh we'll take anything seriously if it looks like it's starting to gain traction with the community we will consistently pay attention but what we do want to do is we really like a vast ecosystem we're very much aligned with their vision so any new chains within that ecosystem coming up we're going to be immediately looking at if there's any any products that start growing up around avalanche we can start looking at integrating those straight away we don't want to be a case of always chasing every narrative in market but if it benefits our community and our users we're going to be very interested in doing that I think I would like to ask you specifically because your director of defi strategy what currently do you think is the biggest hurdle that defi in general has right now this doesn't really have to do anything specifically yield yak but just in the macro lens what do you think defi space kind of has to overcome in the long run to really move to that next level of adoption sure okay lots of different things that come up here so I'd say that defi goes for markets it's very retail orientated at the moment and those users are very able to understand it very adept but catching the next wave of benefactors of whose holes within DPN defi space what you'd like to be able to do so we're talking more traditional finance firms etc actually recently it's it's refreshing to see trad fi takes a more serious look at defi space and they're seeing the transparency and how we can benefit them it's a very slow way but it's all helping slowly i think defi can also be looked at in the way that a lot of these tools for retail are designed for quite easily grasping the mechanisms for staking for these larger players it needs to be catch up for example so alignment here is important the final thing I touch on is just a general environment for a lot of defi projects managing regulation and legislation this is an area moving around with politicians it's what I'm really interested in as you see different countries providing different legislative frameworks we really want to show how defi can benefit wider society but we also want to act within the bounds that politicians and authority set for us so it's a multilateral playing ground we need to balance those three outcomes basically very thoughtful thank you for that another question for you might be an obvious answer but for you being a project uniquely on avax what would you think kind of makes the avalanche space special compared to others oh really good question so I'll start off with what initially drew me to avalanche and that was the speed of finality no one's really interested in the things that uh take minutes to process and then along with that talking of the validator set it's really diverse we may have covered instances with liquid staking tokens but the chain for decentralization I was very happy with that so on a practical level um there's the speed of finality the validators doing well and then passing that that ethos of how we can very much build bottom-up for users I think avalanches ethos is very much aligned around efficiency cost effectiveness and it's just going to help grow defi as a whole compared to some other chains I'm not going to throw shade but you're happy to experiment on avax and get things much faster that's my take authority yeah I absolutely agree and it's a kind of good set way or trend way transition into kind of the other things yak is involved with so can you kind of give us a run through and walk through of the yak ecosystem just by itself on avax and then over cross chain and how it's kind of been performing over the last let's say six months to a year sure okay so obviously we have the yield farming features many compounding moving very well we're looking to automate these very low cost for users the vaults cover various different strategies low medical pleb exposure but then recently what we launched is our LST projects so that's liquid stake derivatives you've probably had a lot about those gives people exposure to the staking it was really important for people to because not everyone will launch their own validators they can keep liquid while still staking at the validator on the back end covers them by the minimum amount of holdings beyond that as well we've been looking a little bit at single sided staking mechanics for some things you probably heard of there's been doing well it's also about looking at partnerships with various other protocols on avax i think that's going sort of long term we want to develop this kind of granularity of exposure you mentioned earlier why shouldn't we just look at what's beyond then i think the lst project is going to be very interesting it's going to grow and we're very excited on behalf of all the users a defi strategy myself following along with a lot of leg work through the team but that's bearing a lot of fruits honestly well said i think um it's tremendous i think as lsd token specifically that's staking derivatives i think uh it was a great feature for you guys um you know off the top of my head um i don't remember the specific staking derivative currently but i do remember reading about it and i do remember being excited about it um something about auto harvest and burning um that was like a crazy feat for any lst on any chain and the fact that was done so efficiently with more money back in the day was just incredible kind of had a good little run for a while yeah, it was a lot of fun, but, yeah so thank you for diving through that with us i do want to say we are getting close to the end of the space if anyone wants to hop up and ask some questions you're more than welcome to i see we have a very large crowd but i appreciate everyone coming through today probably our biggest crowd for a fork cast and deservingly so for yield yak so thank you everyone for coming yeah good to see some similar phases yeah, it's a crowd full of Avax ogs, which is always fun, I guess kind of like, last question, or I'll give you the Floria is there anything we didn't discuss today that you want to share we really hit on a lot of good points but anything left you'd want to share with the community we have yeah sure I guess I'm thinking of the things that might be next so what have we talked about ecology yep no I think thank you very much for your time i guess all that's left to say is that our next 6-12 months are going to be focusing on actual integrations building new features and also beyond that i think growing the community having got into yak this year building something for the long term ike fyu guys basically align with our ethos like we'd be more than happy to welcome you and our community is ready for anyone who wants to get involved so thanks for having me today awesome well thank you for coming you've been an awesome guest and yeah we'd love to have you again in the future and kind of get another update anytime some of your new exciting features drop sounds good particularly expansion and how that's going yeah yeah definitely we'll be around and again super proud and thank you for coming uh thanks for the opportunity looking forward to anyone who wants to chat more come along on discord and let's uh let's get yakking amazing well dear friend is there um i'll give you guys lattice thoughts anything else you wanna say before we close up awesome okay see you on the timeline folks yeah it's been fun um sweet yeah so we'll share the space with everyone um you know it's time for the weekend we'll probably catch y'all next week with another episode of forecast so good avax OG it's nice being around see y'all see you guys happy weekend everyone bye bye bye
