At Stable Jack, we have been building the first yield-bearing stablecoin on Avalanche for the last six months. We are excited to share that we are launching on the mainnet soon!
Although the LST ecosystem has matured in Avalanche, there aren’t applications to unlock the idle LST liquidity. Stable Jack, by building on LST protocols will fill the much-needed space in Avalanche by creating a yield-bearing stablecoin and leveraged token.
When thinking about building on Avalanche, Yield Yak is one of the first protocols that comes to mind. A true Avalanche OG, Yield Yak offers many innovative products not just for traders but builders as well, starting with their swap aggregator. After connecting with the Yield Yak team, they became Stable Jack’s earliest investors and supporters, providing invaluable support that was crucial in achieving our goals.
As we prepare to launch our protocol on the mainnet, we are thrilled to announce our partnership with Yield Yak!
What does the partnership look like?
At Stable Jack, users can deposit $USDC, $USDT, $AVAX, or $sAVAX as collateral to mint $aUSD or $xAVAX. The protocol converts all assets into $sAVAX so that the protocol can generate LST yield. We will utilize Yak Swap for converting all assets into $sAVAX as it provides the most efficient swaps in the ecosystem.
In addition to this, after the mainnet launch, Yield Yak will explore the opportunity to integrate aUSD yield into their well-known yield products. This will allow Yield Yak to offer diverse stablecoin yield opportunities to their community, including $aUSD’s competitive yields.
Moreover, we will incentivize users on Yield Yak. Apart from the stablecoin yield, they will also earn Discount Tickets.
Conclusion
Stable Jack is one of the newcomer projects in the Avalanche ecosystem, and we are grateful for the support from the Yield Yak team since the beginning. We hope to bring value to the ecosystem and achieve great success together!
Let’s grow together!