$YAY Liquidity and Farming on AVAX
Following our most recent article on how to farm $YAY on SuperLauncher, we have decided to create a similar guide showing our token holders how to stake and earn $YAY on the Avalanche blockchain.
The successful launch and listing of the $YAY token represents a huge leap forward in the development of our decentralized gaming marketplace. Thanks to the support of both the Binance and Avalanche ecosystems, we will soon have the necessary liquidity to bootstrap our GameFi ecosystem.
To the community members who wish to further support our project, we will be showing how to stake your $YAY and earn a combined 200% APR on the YAY/AVAX liquidity pools.
Pangolin is a popular DEX built on the AVAX ecosystem. It uses the same automated market-making (AMM) model as Uniswap, the worlds leading DEX.
The trading platform focuses on three critical aspects that include speed, cost-efficient trades, and community-driven support. The fast and cheap transactions, which include sub-second swaps and fees of just a few cents, are powered by Avalanche’s blockchain capabilities.
The team behind Pangolin also placed tremendous focus on developing its community. The native token of the platform, $PNG, is fully community distributed and enables trading of all tokens issued on Ethereum and Avalanche. $PNG is also a governance token, allowing community members to vote and manage the protocols.
Rewards on Pangolin
Swap fee APR 74%
PNG rewards APR 28%
Total APR 102%
How to provide liquidity on Pangolin
- To check out the available pools, go to: https://app.pangolin.exchange/#/pool
(If you haven’t connected your wallet, you will be prompted to do so. For simplicity’s sake, we’ll be using MetaMask for both versions of this tutorial. Connect and Approve your Wallet, and please make sure that you have both $YAY and $WAVAX (enough of the latter to cover transaction fees. For a tutorial on how to add AVAX to your metamask press here)
2. Once you have unlocked your wallet, you can choose to add liquidity, as seen in the picture below. (Note that you must approve your tokens before adding liquidity, so spare some $AVAX for the fees)
2.1 Once you’ve done so, you’ll now need to choose the pairs you want to provide liquidity for. In this case, we’re going with $YAY and $WAVAX, as seen below. Choose the amount of liquidity you want to provide and approve the dApp to use the $YAY token.
3. You will be prompted to accept a transaction in your Metamask wallet, allowing you to interact with $YAY tokens within this dApp. Press the Blue button and Confirm this transaction.
4. You will then be asked to confirm the supply provided. Once you do so, another Metamask transaction will appear, which must be approved on your end. Once this is done, you will receive LP tokens in your wallet. Press the Blue button and Confirm this transaction.
Now that you’ve gone through the first step for liquidity provision, it’s time for some juicy farming. Click farms on the upper left corner (or here), and you’ll be taken to the following page, where you can see the $YAY/$AVAX Farm.
5. You are now ready to stake your LP tokens and to begin farming $YAY. Simply click “Deposit” and choose the percentage of LP tokens you want to add. After approval and confirmation, another transaction will need to be confirmed by Metamask.
6. Now sit back and watch your profits grow as you provide liquidity to this nascent gaming market!
Once the process is complete, you will automatically have your position visible, allowing you to manage the liquidity by adding or removing it.
For a detailed explanation on how to manage liquidity on Pangolin press here.
Launched in 2021, Snowball has quickly become a leading decentralized finance (DeFi) protocol on the Avalanche blockchain. Snowball offers a whole suite of innovative financial services, including a StableVault that allows stablecoin swapping and staking.
Another of its core services is the auto-compounding feature, which enables liquidity pools on Pangolin to act as an automated market maker (AMM) for stable assets. Compounding means that rewards from staking are deposited and reinvested to earn even more rewards.
In practice, this results in liquidity providers having access to a higher APY thanks to Snowball auto-compounding rewards from other DeFi protocols. Although stakers from different platforms can also compound rewards, Snowball’s automates the process so users won’t have to pay any fees and can save both time and money.
Base APR — 29.13%
Compounded APY — 33.70%
SNOB APR — 169.89%
Total APY — 203.60%
How to provide liquidity on Snowball
To access their Dapp press here.
- Once you press the “Compound & Earn” tab, you can search for $YAY.
2. Press “GET PGL,” and you will be redirected to Pangolin Dex, where you will be able to choose the amount of liquidity you want to add. And confirm it!
3. You will then be asked to confirm the supply provided. Once you do so, another Metamask transaction will appear, which must be approved on your end. Once this is done, you will receive LP tokens in your wallet. Press the Blue button and Confirm this transaction.
4. Time to sit back and enjoy those lovely profits!
About YAY Games
YAY is a decentralized gaming marketplace designed for gamers, traders, and farmers that merges the gaming sector with decentralized finance.
YAY, at its core, is a gaming marketplace platform that is introducing multiple games in a decentralized way, utilizing blockchain technology to diminish the gap between games and decentralized finance.
We bring the regular gamer into the blockchain by adding innovative in-game mining mechanics, farming pools, and non-fungible tokens to casual games. Thus, rewarding the user based on the number of games played, achievements accomplished, tournaments, and more.