Eden Network Launches New Liquid Staking Product on Avalanche

In partnership with Yield Yak and Geode Finance, yyAVAX is a yield-bearing derivative that is awarded to AVAX token stakers, aligning incentives between blockchain protocols and users. Users can stake their AVAX right now on Yield Yak and will automatically receive yyAVAX of equal value. The product has launched with a 100,000 AVAX deposit cap to ensure the liquid staking and yield-generating infrastructure works as intended. Over time, the cap will be increased and eventually removed completely. The landmark partnership between Eden Network, Yield Yak, and Geode Finance is the first of its kind on Avalanche, and each party plays an integral role in the liquid staking product. Eden Network is responsible for amplifying yield; providing users higher returns above the standard platform staking rewards. This is achieved through Eden’s bespoke yield generation engine, which uses various strategies and products to accumulate value from blockchain ecosystems. About Eden Net...
Source : Eden Network Launches New Liquid Staking Product on Avalanche

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