Using and Investing YAXIS
Protocol Governance
YAXIS stakers play the role of a decentralised portfolio manager. Staking YAXIS tokens gives holders a voice in the governance of the DAO, rate of emissions, and deployment of strategies.
In late 2021, the yAxis DAO voted via YIP-14 to remove single-sided YAXIS staking in favor of locking YAXIS (into veYAXIS). This decision re-aligned incentives for participation in governance. Going forward, yAxis Governance votes are counted in veYAXIS. Rewards were re-routed from staking emissions (50K YAXIS) and are distributed via bi-weekly Merkle Drops.
Performance Fees
On top of emissions, stakers earn a percentage of the yield farming profits from the vaults. 20% of the governance tokens farmed by the v3 vaults are taken from vault profits as a performance fee. These profits are used to support the protocol and to buyback YAXIS tokens on the open market when conditions are favorable. Buybacks are not distributed in real time.
How to Use & Invest Your YAXIS Governance Tokens
You will find the options for YAXIS tokens under the top menu, "Governance."
You have three ways to interact with the app using your governance tokens (YAXIS):
Lock & Boost: Lock them to earn a boost to your personal earnings
Distribute Rewards: Vote which strategies should earn bonus yield
Snapshot: Vote in community governance / proposals
To start, you should lock your YAXIS tokens to receive veYAXIS voting power, go to the app, connect your wallet, choose the number of tokens you wish to lock, choose the length of time you wish to lock, and click 'Lock'.
Once that is complete, your wallet will be given veYAXIS, which represents your share of the voting power within yAxis and allows you to interact with additional services.
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