Yak Intern🔺️

Yak Bottom of the Block Backrunner! 🐂 🤝 🤖 As part of Flashbots' Crucible Hackathon @zeroXbrock and I built POC for bottom-of-the-block backrunning using YakSwap(@yieldyak_). collective.flashbots.net/t/crucible-hac…

GM #AVAX 🔺 Prices may be down today, but the yield for staking $YAK on @yieldyak_ is continuing in the right direction 👀 Currently at the highest it's been since last February, it's been trending upwards since moving to distribute 100% of platform fees to $YAK stakers 📈

Looks like the vote to distribute 100% of @yieldyak_ platform fees to $YAK stakers is having the desired effect 👀

🫡 Saluting $COQ / $AVAX @CoqInuAvax LPs casually earning 500% APR on @TraderJoe_xyz V1 positions thanks to @AvalancheFDN and Memecoin Rush 🏂. Let's dive into the full suite of Memecoin Rush farms listed in order of TVL thus far...👇

🐃 Historic week for $YAK: proposal to move 100% of platform fees to YAK stakers. Let's dive into the background and context for the vote and what it means for YAK holders... It's rare in this industry that protocols provide tangible ways to take part in their growth, or meaningfully share its success with holders. From the very beginning, Yield Yak was a little different: 🪂 The Airdrop YAK was deployed in 2021 with the initial distribution heavily weighted towards early users, with figures you don't frequently see today from a project that was generating significant fees: 70% of Supply Airdropped 💰 50% Early Depositors 🦸 15% Reinvest pushers 👪 5% Community (early Telegram users) Plus: 🏦 15% Treasury 👷 15% Team (these tokens are now fully vested and not a single YAK has ever been sold) YAK's initial split 🗳️ From Day 1, YAK provided platform governance with key decisions voted on by the community. 💸 It also has transparently shared platform fees, split equally between stakers, Treasury, and Contributors (33% / 33% / 33% split). This helped bolster the Treasury and onboard new Contributors, some who still remain today. ~8 months later, a vote was passed to increase stakers share of fees to a new split of 70% stakers, 15% Treasury, 15% Contributors. This was reflective of the Treasuries fast growth in good market conditions, and in this same vote the first Core Contributors were chosen who would begin to earn vested YAK. This started to reduce the burden on platform fees to reward Contributors. Self-Sustaining Treasury 🏦 Fast forward to 2024: the Treasury has carefully navigated turbulent market conditions thanks to excellent management and savvy strategic investing which has come to bear fruit. In light of this, the Treasury can now support both its own self-sustaining growth and cover platform expenses including for marketing and community contributors. The first ramification of this came last week when the Treasury withdrew their entire staked YAK position (~8% of supply), reducing dilution and increase the share to community holders. And now... Moving to 100% to YAK stakers 📈 A proposal has been made to move 100% of platform fees to stakers. Voting begins at 18:30 UTC today, and the is expected to complete and (if approved) executed by the end of this week. This would mark a significant milestone towards the original vision: to build a self-sustaining DeFi protocol with no VCs or outside investment that would be truly managed by its Community & Contributors. This proposal takes Yield Yak meaningfully closer to this vision 🙌. Snapshot Vote: snapshot.org/#/yakherd.eth/…