Home Cryptocurrency News 6 Ways to Invest your AVAX/sAVAX Tokens to Get Attractive Yields

6 Ways to Invest your AVAX/sAVAX Tokens to Get Attractive Yields

Stakers can earn rewards in VTX, PTP, and QI tokens from three DeFi platforms.

Deposit AVAX/sAVAX

Decentralized finance protocol, Vector Finance, has expanded its staking offerings. The new pools are of particular interest to AVAX holders as they offer potentially huge yields.

In late April, Vector Finance announced new Avalanche staking pools with four-figure returns at the time. Therefore, in this article, you will discover how you can take advantage of Vector Finance with your AVAX tokens.

Note: the pools have been provided by the stableswap platform Platypus DeFi. Platypus is a single-sided liquidity provision platform also on Avalanche.

Vector Finance Launches New Avalanche AVAX Staking Pools
  1. Deposit and get sAVAX tokens in Benqi Finance: At the time of writing this article, the yields for each respective pool were around 13% according to the Vector platform. They are still the best performing alt-pools on the platform with around $12.7 million deposited in each.

Vector Finance touts itself as the “best yield booster on Avalanche.” Furthermore, these new pools offer additional rewards beyond those from just staking AVAX. Since sAVAX is liquid, it is like owning AVAX while also being staked at the same time, Vector explained. When staked, sAVAX grows by around 7.2% annually.

2. Deposit sAVAX tokens on Platypusdefi: Since it is liquid, it can also be used in DeFi platforms such as Platypus. The two tokens are not equal because sAVAX increases in value so will always be worth more than AVAX. Platypus provides pools enabling users to easily swap between AVAX and sAVAX.

Additionally, stakers can also earn rewards in their native token PTP and QI from Benqi Finance. Vector has taken things a step further making it extra attractive by adding VTX rewards to the mix.

3. Deposit sAVAX, AVAX or WAVAX, VTX on Vector Finance:

Vector Finance had $414 million in total value locked at the time of writing this article. Its primary VTX staking pool was yielding 17.3% APY with $6.4 million in TVL. Furthermore, the majority of the collateral locked comes from Platypus pools with stablecoin pools holding the lion’s share.

4. Mint sAVAX: The liquid-staked sAVAX tokens can be minted on the Benqi Finance platform by converting your AVAX. More info here.

5. Trade AVAX for sAVAX: Because AVAX is slightly lower in value than sAVAX, users can trade between the two for marginal gains. You can get 1 sAVAX and get 1.01 AVAX.

6. Deposit sAVAX/AVAX to get QI, PTP, and VTX tokens: Mint sAVAX on Benqi Finance and trade them on Platypusdefi or TraderJoe.

AVAX, VTX, and PTP Price Outlook

AVAX went down 0.3% on the day and is currently trading at $59. However, the token has been in a steep downtrend over the past month or so along with crypto markets. AVAX has lost 38% over the past month and is down 58% since its November all-time high of $145.

On the other hand, the VTX token has gained 16.2% over the past 24 hours. It was trading at $0.472 but has lost 71% since its all-time high last month.

Finally, the PTP token is also up 4.5% today to trade at $1.34. Meanwhile and the QI token is currently trading at $0.031 according to CoinGecko.

Get $125 for SIGNING UP with MEXC Exchange (FREE $25 in your MEXC wallet + 1-month ACCESS PRO membership (worth $99). MEXC supports U.S Traders in all trading pairs and services.

(To get your ALTCOIN BUZZ ACCESS PRO membership DM us with your ‘newly signed up MEXC UID’ and ‘Telegram ID’ on our Twitter @altcoinbuzzio)

For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.

Find the most undervalued gems, up-to-date research and NFT buys with Altcoin Buzz Access. Join us for $99 per month now.

NO COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.