Hi everyone! We're excited to share what's happening over at yAxis and our plans for the next 6 weeks; It's an important period coming up. All hands on deck!
Our flagship product: The MetaVault, is a meta yield aggregator. Users can deposit funds into a multi-strategy, split-strategy vault to control risk at a granular level. You can find a first version over at yaxis.io
DeFi is rising fast, but still today only 3% of digital assets are locked in. Our aim is to bring a simpler experience to investors that makes it easy to understand and benefit from DeFi: One-click in, one-click out.
To do that, we'll be:
1) Focussing on user-centric development, community and team structure;
2) Bringing awareness, then engagement through content creation and outreach campaigns;
3) Implementing security and insurance features that boost confidence when depositing funds on our platform.
yAxis Project: "Aggregator of aggregators" - Multicoin Capital
The next upgrade of MetaVault code is ready. The main iteration is the ability to have seamless switching between strategies, or even weighted split-strategies based on a DAO-directed vote. Any combination from any available strategy is possible.
We could allocate 80% to Strategy A, and 20% to Strategy B.
We can also apply caps. For example, limit $10m of deposits in a high performing strategy, with overflow going to the CRV 3pool.
Through this level of control, we can diversify and accurately spread risk across the DeFi landscape.
This gives the MetaVault an aspect of a traditional fund which investors deposit into. The fund manages risk and allocates resources. The 'fund managers' are the DAO, doing the time and research needed to seek optimal returns.
We're thrilled to have our rockstar product designer @Vinrock as part of the team, who's created a sleek new UI/UX. Pleased to see that design go into production which will take ~6 weeks.
A hint is the new yAxis logo you can see across our channels. We'll be releasing a few 'sneak peeks' over the holidays.
An audit is underway from a well-known security company. We'll be conducting QA testing in advance of launch and writing a broad menu of strategies to choose from.
We're considering a bounty for additional strategy writers to speed up this process.
Team & Structure
We've expanded and strengthened the team with several key people. They'll be helping out across the project from product and design, to marketing and community. Say hello to.....
@Mr.G, @Vinrock, @transferAndCall, @bobbyEK, @draukan
A big push for content creation has started at yAxis in the build up to launch. We want to produce a backlog of material; videos, guides, infographics, decks, stories, AMAs etc - that can be released strategically in a run up to launch.
@MrMister is helping coordinate this effort and on the #community-content channel on our Discord. Ideally we'd have skilled members of the community join in and we'd like to work with a range of people.
We've set up a content calendar, and publication timeline, setting up calls, writing scripts and getting stuff done.
We'll also be creating "The Weekly Yax", a publication to help keep the community updated and engaged!
The objective is to bring awareness to grow the $YAX community, and then engage potential users of the MetaVault to attract deposits.
A lot of this content will eventually be hosted on the new landing page, serving as a focal point for marketing and using the app.
Earn more from your assets - with YAX - your first step into DeFi
Security & Audits
Security is of course hugely important to us. Currently we're in a pure curve strategy after the $PICKLE last month; MetaVault prioritises long-term safety over short-term gains.
Our users value stability. We'll be getting multiple audits of the MetaVault, as well as the strategies deployed - whilst establishing security policies and procedures.
MetaVault doesn't allow for smart contract deposits or withdrawals, so flash loan or re-entrance attacks aren't possible.
The team is setting up a shared contact list for notable events, where we can pull together into immediate action.
Risks are high in DeFi. Despite good intentions, young protocols often don't have the ability to offer meaningful clawback given the size of their AUM compared to Market Cap.
Insurance in the space is evolving. Continued collaboration, and more eyes on code will help strengthen the ecosystem as a whole and ultimately benefit everyone.
Here at yAxis, we want to introduce an insurance policy and provide comfort to our users. We're still ideating the best way forward with view to implement in the New Year.
I'll end on this note: At time of publication, we're back up to 56% of YAX supply being staked. A strong signal.
Thanks for reading and happy holidays!
The yAxis, MetaVault and $YAX team