Arbitrum begins hosting Yama Finance
Yama Finance is hosted on the Fuel and Eclipse networks, among others. The list has been expanded by the addition of Yama Finance, which has announced its debut on Arbitrum as of the end of March 2023. Yama Finance is an omnichain stablecoin with the industry’s highest leverage and liquidity. Yama Finance, built in collaboration with Hyperlane, is known to be the fastest modular execution layer.
According to the announcement, users can leverage up to 17x on GLP through Yama Finance. They can simultaneously earn double-digit returns by lending their digital assets. It is estimated that the maximum leveraged collateral APY registered is 472.76%. The same can be achieved by users through the Borrow Page, where they need to click the Manage button. It appears with the collateral that users want to utilize against their borrowings.
An APY of around 15.9% can be accessed through the lending page, where they must enter the USDT amount, convert the same into a lockup token, and proceed with lending. It must be noted that Yama is offered at the time of redeeming lockup tokens.
One of the key features of Yama Finance is that funds can be moved across multiple chains only by paying the gas fees. Yama Finance is designed to be compatible with multiple chains at the same time.
The announcement of Yama Finance’s debut on Arbitrum follows the news that they had surpassed $1 million in Total Value Locked within a single day. This achievement is intriguing because of the fact that Yama Finance has surpassed $1 million based purely on its yield and not its token. Another development announced by Yama Finance is that MaiaDAO has allocated funds to the PSM of Yama Finance on Arbitrum following the approval of MIP-14.
Arbitrum has also achieved some notable advancements. Yama Finance is the most recent instance of Pyth pricing feeds going live on Arbitrum. Numerous applications, including Perpy and CAP Finance are utilizing Pyth. This announcement was made by Pyth Network, which stated that the team is eager to assist the DeFi community of Arbitrum.
It has worked fairly well for the developers on Arbitrum, granting them access to over 200 price feeds of Pyth for commodities, equities, cryptocurrencies, and foreign exchange pairs. Pyth Network has, in return, brought innovation to Arbitrum by introducing an on-demand pull model oracle. This enables users to push available prices onto the blockchain at the time when they are needed the most. This allows everyone in the ecosystem to access the data point.
Per the same announcement, Puth Network has begun powering CAP Finance, a perpetually decentralized exchange that can securely operate a keeper network for prices in real-time.
Yama Finance on Arbitrum adds to both their respective ecosystems. Arbitrum is a strong enough network for the platforms, while Yama Finance comes loaded with liquidity and the highest APY.
