yyAVAX

yyAVAX is reward-bearing AVAX liquid staking derivative on the Avalanche network. On top of unlocking yield for AVAX stakers securing the Avalanche network on the P-Chain, yyAVAX will receive yield earned by Validator yield-generating opportunities such as supporting Avalanche Subnets. The Validator yields will be generated by the Eden Network of Avalanche Validators. Eden Network receives 5% of yyAVAX yields in exchange for providing these services (running validator network, supporting subnets, returning additional yield generated to yyAVAX holders). Many Avalanche liquid staking tokens require that you wait a 15+ day period to move from the liquid staking derivative back into native AVAX. Alternatively you could use an AMM and potentially suffer serious slippage and swap fees which eat into any gains and benefits of holding the derivative token. It is currently an under-reported problem that many users purchase and sell liquid staking tokens and unintentionally eat up all of their yield (and then some) when moving in and out of the token. Imagine a Typical Liquid Staking Token with a daily yield around 0.02% - Swap costs 0.3%, plus slippage - Lose 15+ days of yield per trade With yyAVAX, we expect losing closer to 2 days of yield per trade via its dynamic withdrawal pool. The dynamic withdrawal pool allows users to redeem yyAVAX for AVAX at minimal slippage. And no need to wait 15 days if you wish to return to native AVAX. Medium Post:

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