Elk Finance $ELK Strategies Now Available Nn YieldYak_

Yield Yak now offers one-click farming strategies for Elk’s Avalanche pairs. These strategies automatically compound both farming rewards and include Elk impermanent loss protection for all pool users.

Elk’s Impermanent Loss Protection

Elk is a network for cross-chain liquidity. ELK tokens are available to bridge across networks, and also serve as payment for impermanent loss protection, which helps attract liquidity.

Elk farms pay two types of rewards: farming rewards, and ILP (Impermanent Loss Protection). ILP is earned over time based on the network’s rules and is paid in case of price divergence. For example, a position might earn 10% ILP, so ILP is paid to cover the price divergence between paired assets.

Farmers who wish to optimize their positions must be very active as rewards are determined based on more factors than simply time. Yield Yak handles reinvesting the different types of rewards for its Elk farms to help its users.

Farming Rounds

What you should know: Elk uses 42-day farming rounds to issue rewards. The next round begins on October 23, 2021, at which point you should reassess and adjust your LP positions.

About Elk Finance

Elk.Finance is a decentralized network for cross-chain liquidity. ElkNet, its multi-chain bridge protocol, facilitates trading, liquidity mining, and instant cross-chain cryptocurrency transfers. Elk is live on Avalanche, Polygon, Fantom, HECO, xDAI, BSC with more coming…

ElkNet unlocks the full potential of cross-chain DeFi, supporting a full suite of financial tools, multi-chain native applications, and interoperable smart contracts — a true DeFi gateway.

Links to our website, charts & community channels can all be found here.

About Yield Yak

Yield Yak is an easy-to-use tool to earn more yield from defi farming on the Avalanche network.

Source:
https://yieldyak.medium.com/elk-strategies-fb6c864691cc

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