Yield Yak is a community-driven project and a user-friendly tool to earn more yields from DeFi farming on the Avalanche network. Avalanche is a programmable and open smart contract platform designed for decentralized applications. Further, the project has its own token YAK that is powered by the community and has built and supported the economic and diverse auto compounder in the market. Auto-compounding is a process where yield farming rewards get automatically sold and re-added to the pool to achieve higher APY (annual percentage yield). Yield farming is a way of gaining interest in cryptocurrency, just like how individuals earn interest on any capital in the savings account. 

In order to support this yield framework, the project encompasses the following steps: 

Further, Yield Yak allows all farmers to gain more yield by pooling the assets and mingling the prices compounding costs. The strategy implies much more traditional compounding, which occurs automatically. Notable Yield Yak farms compound happens every few minutes or hours. Reward tokens are transformed into deposit tokens in the name of all individuals in the pool multiple times a day, delivering users with a combined price disclosure to reward assets.

According to its whitepaper, to support this entire yield mechanism of the project, the project introduced its cryptocurrency, the YAK token. The YAK is the native utility token of the project and is used for:

These utilities of the project ensure the development of a sound operational structure, which signifies the project is self-sufficient, where the community provides rewards, presents new strategies, offers key configuration updates, and contributes to growth. 

YAK has a total supply of 10,000,000,000 tokens.

We update our Yield Yak to USD currency in real-time. Get the live price of Yield Yak on Coinbase.

The current market cap of Yield Yak is $2.51M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Yield Yak is $15,482.62. This all-time high is highest price paid for Yield Yak since it was launched.

Over the last 24 hours, the trading volume of Yield Yak is $600.83.

Assets that have a similar market cap to Yield Yak include eBeat AI, Ripio Credit Network, Solana ID, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Yield Yak is 10 thousand.