GMX <> YieldYak Collaboration

Why are we proposing a treasury swap?

The Yield Yak team has been the leading native yield and swap aggregator for the Avalanche ecosystem since its inception. We have worked with GLP since it deployed on Avalanche, developing both GMX and GLP Vaults on Avalanche. Moreover, Yak Swap was the first aggregator to incorporate GMX.

This treasury swap is designed to better align the two protocols, specifically Yield Yak’s GLP vault and our future GMX integrations that will help expand the GMX ecosystem.

What has Yield Yak contributed to the GMX Ecosystem, and why should GMX holders support this proposal?

Yield Yak is a yield-optimizer and DEX aggregator native to Avalanche; they have been strong supporters of the GMX ecosystem since the beginning.

DEX Aggregator:

Yak Swap was the first aggregator to integrate GMX into its trade routing. As a result, Yak Swap has routed $300,000,000 in volume to GMX, all while collecting zero fees itself in the process.

GLP Vault:

Yield Yak’s GLP vault was the first vault built on top of GLP, and the first to take the approach of auto-staking esGMX in perpetuity to boost rewards for all vault participants. Currently, with ~$800K TVL, it has the lowest fee structure of products built on GLP, with a fee applied only to yield and no entry/exit fees. Their displayed APY is net of fees.

The vault has also been integrated across the Avalanche Ecosystem; as collateral on Moremoney and Arable Finance, and with an integration underway with DeltaPrime.