Yaka Finance – the new ve(3,3) DEX and Launchpad on Sei Network (Airdrop opportunity)
There is a new kid on the block in the SEI network ecosystem. Innovative ve(3,3)DEX and launchpad, currently (as of 19th January 24) in testnet, YAKA Finance aims to tap into the untapped potential of Sei’s blockchain infrastructure.
YAKA Finance’s team, armed with a profound understanding of the DeFi landscape, identified the latent possibilities within Sei’s blockchain. The goal was clear – to empower Sei’s DeFi ecosystem by amplifying its strengths. Recognizing the unique advantages offered by Sei, YAKA Finance envisioned a strategic collaboration that could redefine the dynamics of decentralized finance.
In a strategic alliance with the Sei Foundation, YAKA Finance set out to leverage Sei’s liquidity grants and combine them with their own innovative mechanisms.
All ve(3,3) DEX explained
YAKA Finance addresses the complexities of incentivizing liquidity providers (LPs) on decentralized exchanges (DEXs) with the ve(3,3) model. This innovative approach establishes a self-sustaining system, ensuring growth and stability through predictable rewards.
In the crypto space, aligning incentives is crucial. Traditional DEXs, such as Uniswap, struggle to motivate LPs and governance token holders. The ve(3,3) model tackles these challenges with a distinctive fee and incentive system. It balances governance token rewards, reducing selling pressure and maintaining token value and APR.
Key Components:
• Motivating LPs with unlocked governance tokens.
• Redirecting trade fees to veToken holders who lock their tokens.
• Allowing flexible protocol emission distribution for targeted pool incentives.
The ve(3,3) model harmonizes incentives for Yaka ecosystem participants, including veYAKA voters, LPs, traders, and protocols.
• veYAKA Holders: Encouraged to vote for high-volume pools or those incentivized by protocols, ensuring fairness through fees and bribes.
• Liquidity Providers (LPs): Motivated by $YAKA emissions, which can be locked for additional incentives.
• Traders: Enjoy reduced slippage and efficient swap algorithms.
• Protocols: Gain access to cooperative liquidity, capital-efficient trading, and the ability to incentivize liquidity through bribes, empowering effective liquidity management.
$YAKA initial supply
Total initial supply of $YAKA tokens is 200M.
See the pie chart above? 30% community? Yes, it means AIRDROP!!! Read below and find out the initial supply split and explanation:
Community (30%)
From the initial supply, 48M (24%) – including both YAKA and veYAKA – were earmarked for consistent users of SEI Chain protocols and new participants through YAKA. Selection was based on contributions to long-term protocol stability, like locking, staking, holding, governance participation, and steadfast support through challenges.
The user airdrop is a balanced blend of 50% veYAKA, locked for two years, and 50% $YAKA, with claiming options on YAKA as follows: 30% of $YAKA is immediately claimable at launch, and the remaining 70% can be claimed linearly across four weeks. veYAKA is available for immediate claim at launch.
Additionally, 12M (6%) of the supply is reserved for the airdrop campaign, with a one-month lockup period.
Partner Protocols (40%)
We’re launching an airdrop of 50M (25%) veYAKA, targeting protocols that show a commitment to integrating with our liquidity layer. In selecting these protocols, we’ve aimed for a balanced mix of native SEI protocols and those from various other chains.
Post-launch, we reserved 30M (15%) veYAKA to distribute to our partner protocols. This allocation is designed to foster engagement within the ecosystem by providing grants to our partners.
Team (15%)
The YAKA team is allocated 15% of the initial supply, divided between vested $YAKA tokens and veYAKA, to ensure long-term dedication to the project. Core team members, receiving part of this in voted escrow tokens, will have their interests aligned with YAKA’s growth and stability. They’ll vote on core pair gauges at launch, targeting deep liquidity and minimal slippage for significant pairs like $SEI and $YAKA, a strategy essential for steering YAKA’s direction.
To prevent misuse, initial veYAKA allocation is secured under YAKA’s multisig, and balanced with vested $YAKA tokens (50% veYAKA locked for two years and 50% $YAKA vested with a six-month cliff) to ensure fair revenue distribution.
Additionally, 2.5% of emissions go to the Team address to support ongoing and future development, enhancing the Team’s ‘$veYAKA’ holdings and facilitating protocol growth and adoption.
Genesis Liquidity Pool (5%)
5% of the initial supply will be paired with $USDC and/or $SEI, ensuring substantial liquidity at launch.
Token Sale (10%)
Allocation Breakdown:
3% to investors with a 6-month cliff and 2-year vesting period.
3% for Yaka Voyager NFT minters with 30% available at TGE and the remainder over 3 months.
4% for public sale, fully available at TGE.
How to qualify for an airdrop?
As you could see over 60 million tokens will be airdropped to the community!
But how to become eligible? As of 19th January 2024 we can only speculate, no official information has been published by Yaka team.
There are currently 3 main activities how to contribute:
- Testnet on SEI testnet – https://app.yaka.finance
- Zealy campaign – https://zealy.io/c/yakafinance
- Galxe Campaign – follow to mint Galxe NFT – https://galxe.com/yakafinance
Based on previous airdrops it’s possible that some of these activities could help with eligibility for airdrop.
There may some others, very popular recently is staking of major Cosmos coins – such as $ATOM, $OSMO, $TIA or $INJ. The fact Yaka Finance closely collaborate with SEI and will be run on Sei network naturally leads to idea that $SEI stakers will get rewarded.
But like we say, all is just speculations. Let’s get surprised (this article will get updated as we get more info from the team)
So where to start?
The best thing is to start following Yaka finance on X and Discord, you can’t obviously make a mistake with other channels:
What is a key for understanding the protocol is a documentation, the docs 📚are available on Gitbook.
Happy airdrop hunting with yaka!
Disclaimer:
This article is not a financial advice and only use for educational purposes. Please always make your own research before investing in crypto projects and don’t invest unless you’re prepared to lose all the money you invest. All crypto is a high-risk investment and you should not expect to be protected if something goes wrong. .
