FAQ

Frequently Asked Questions

Overview

General

Is it safe to invest money into the vaults?

yAxis vaults were designed with security as a top priority. The MetaVault has been audited by several independent firms. Audits do not nullify smart contract risk, however. Before making a deposit, research and understand the risks involved.

Will yAxis be available on any other blockchain networks or layer 2 solutions?

yAxis is launching on Avalanche in March of 2022. It will be expanded to additional L2 and blockchain networks in the future.

Token

What is YAXIS?

The YAXIS token serves as the governance token of the yAxis DAO. Stakers play the role of a decentralised portfolio manager. This earns them a percentage of the yield farming profits from the vaults.

What is the supply of YAXIS?

A maximum of 1 million YAXIS tokens was generated through the initial token swap from YAX. The supply will rise to a cap of 11 million over the course of a year, with the vast majority of the tokens being mined for community distribution. The current circulating supply can be found on our analytics dashboard.

Why is a token called YAX sometimes referenced for yAxis?

Earlier in the yAxis lifecycle (early 2021) a token swap was conducted, from YAX to YAXIS. The original YAX token has no utility within the current YAXIS space.

Which wallets support YAXIS?

  • MetaMask

  • Trust

  • Argent

  • Status

  • Coinbase

  • Fortmatic

  • Lattice

  • Frame

  • Authereum

  • Magic

  • Portis

  • Torus

  • Ledger

  • Trezor

Governance

How can I participate in governance?

Simply locking the YAXIS token is enough to participate in governance. Votes are determined by your locked YAXIS (which is represented as veYAXIS (voting escrow YAXIS), and voting is held on Snapshot and announced in advance on social media channels like Discord, Telegram, and Twitter.

Using yAxis

Where can I buy YAXIS?

The YAXIS token is available on Ethereum at Uniswap.

The YAXIS token is available on Avalanche at Trader Joe.

How do I stake my YAXIS?

Instructions for investing your YAXIS can found here.

Rather than traditional staking, yAxis provides you the ability to lock up YAXIS into governance in order to participate in weekly votes for bonus emissions/interest on your investment.

How do I provide liquidity?

Instructions for providing liquidity and staking LP tokens can be found here.

Can I bridge my YAXIS from Ethereum to Avalanche?

Yes you can. Note that fees apply. You can use the Multichain dAPP to move tokens to Avalanche or back to Ethereum. Note there is a minimum fee of 0.1% or 11 YAXIS (whichever is greater) to bridge using Multichain.

If you still have questions, please watch this video or contact us in Discord.

Setup a Metamask Wallet for Avalanche

Your first option is simply to try connecting to the yAxis dAPP (yaxis.io) on Avalanche. To do this you can visit the app, and click on the upper right. By default it will show the Ethereum diamond symbol. This will open a "chain selection" menu, where you can select Avalanche.

This will prompt you with a screen that looks like the one below.

Note: In our testing this showed a possible "error" from MetaMask saying the Chain ID is not accurate, but as long as it says 43114 you are fine. 43114 is the correct Chain ID.

If this looks good, you can click "Approve," which will add the Avalanche information to your wallet. You are now ready to use yAxis on Avalanche!

You have a section option, if you aren't comfortable letting Avalanche auto-configure your wallet. You can manually input the settings and it only takes a minute to complete.

Log into MetaMask -> Click the Network drop-down -> Select Custom RPC

If you still have questions, please watch this video or visit us in Discord.

ETH Users: How do I get the Curve tokens to invest in yAxis?

This is a frequent question. Curve is a brilliant DEFI protocol and it's ecosystem with Convex is industry leading, which is why yAxis on Ethereum focuses heavily in bringing value to their strategies. But the Curve web app and interface is a little confusing.

In the simplest terms, you need to "Deposit" the underlying tokens into Curve's app and it will return those as a Curve token that you can invest into the yAxis vaults. Below are the steps to complete this action, using ETH as an example:

1.) In this example you want to invest in the Convex vault on yAxis. The token required to do so is called CVXETH To obtain the CVXETH token visit Curve's deposit page for CVXETH here: https://curve.fi/cvxeth/deposit.

2.) Once there, you will deposit the underlying tokens that combine to create a CVXETH token - Convex and Ethereum. Once you select the number you want to create, you select "Deposit."

3.) Do not select "Deposit and Stake." That will stake your tokens into Curve directly, which means you will not get any of the perks that come from staking through yAxis.

4.) Once you have your CVXETH tokens, you return to yaxis.io and "Deposit" your tokens into the vault. This is the same process for any token.

Resource Links

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