As you are getting involved in the decentralized finance sector, you might want to learn more about Ethereum and Layer 2 elements like YAXIS. But before you go ahead and buy YAX because it seems like it could go up in value, you must find out what YAXIS is and why it could be a potential long term holding.
What is y AXIS?
Y Axis is a project in the DeFi sector. It is known as a decentralized finance yield portfolio project that aims to grow your value with simple and efficient regular management. It will be a place for you to store value and move on.
Instead of having to look at the best places to go for yield, it will do it for you. All interested individuals have to do is connect their wallets, deposit their tokens, and sit back while the actively managed DeFI yield portfolio grows the value of the portfolio.
The allocations will occur through a decentralized autonomous organization where those who hold y AXIS tokens will have the ability to vote on the most profitable strategies to apply for investors like yourself.
You will now notice that y Axis tokens or YAX are governance tokens, somewhat similar to MAKER, the DAI governance token.
Why Would You Buy Y Axis Tokens?
The reason why you would want to buy Y Axis tokens is because you think that they could rise to the level of value of those like MAKER and others. You will notice that y Axis will gain value if, and only if, more people are interested in participating in the governance of the y AXIS system.
But if you are allocating money to the y AXIS system, then why wouldn’t you buy a few of these governance tokens? It only makes sense to ensure that you have a bit of a voice. So if you are interested in buying y Axis tokens, you are saying that more people will feel confident letting these decentralized fund managers do the work for them and find the best yield.
That is not a bad bet where people like to purchase ETFs and other investments that other people manage for them.
Also, the best part about y AXIS is that it lets stakers earn a part of the profits from the allocations. That is fascinating and quite likely one of the many draws of holding the token.
Y Axis Tokens
Remember that Y Axis tokens are governance tokens that gain in value as more join the system and seek to participate in decision making. Further, it is also there to enable holders of y Axis token to earn a portion of the profits earned from proper allocation strategies. The governance tokens also help individuals understand how to move forward with their projects and future products too.
Why Do People Like the y AXIS Token?
The reason why people appreciate the y AXIS token is because they get to be on the forefront of decentralized finance. Where individuals can learn all about the yield portfolio, how it works, and how they discuss yield aggregation strategies.
Remember that Yearn finance and other similar types of entities do exist.
But why y AXIS differs in that it seeks to navigate among these other entities, allowing it to have more advantages.
It has one product at the moment, and will have another that is in the works right now.
The Current y AXIS Product
The current y AXIS product is the MetaVault V2 that lets users place their stablecoin tokens that range from 3CRV to DAI into a vault that the DAO can allocate. The allocators will then allocate the tokens and earn the best yield via yield farming options available at the moment. Investors can redeem their funds whenever they want, obtain their y AXIS rewards and move on or come back and conduct the whole process again.
How Do I Buy y AXIS?
It is simple to buy y AXIS with a few steps.
- Go to Coinbase or Binance.
- Deposit funds.
- Move a portion of the right token to Uniswap or another similar exchange.
- Purchase y AXIS on Uniswap, 1inch exchange, or the Liquidity Protocol
- Hold your y AXIS in a secure wallet, hardware or software, but hardware is preferable.
- That is it!