Yaka Finance ($YAKA) is Sei Network’s native liquidity engine. Their airdrops (yes, several airdrops, have already been verified in detail.
Most significantly, based on our study, all community members will receive fair token distributions! This is our airdrop instruction for the Yaka Finance ($YAKA) token.
Table of Contents
Read More: What are Crypto Airdrops?
What is Yaka Finance ($YAKA)?
The native liquidity engine of Sei Network is called Yaka Finance ($YAKA). Some of Yaka Finance’s characteristics are as follows:
A liquidity hub within the SEI ecosystem:
In order to create the best possible environment for SEI trading and encourage protocol participation, Yaka Finance intends to connect the VE (3,3) liquidity flywheel with a launchpad.
A DEX with NFT utility:
In line with its long-term goals, Yaka Finance presents Yaka Voyager NFTs, which give stakers and minters a portion of the DEX trading fees and YAKA token airdrops.
A winner of the Code Sei Hackathon:
Yaka Finance proved its creativity and competitiveness by taking first place in the “Code Sei: Powering New Gaming and Defi Exchanges” hackathon and receiving awards from the ecosystem.
A protocol with a revenue-sharing model:
Yaka Finance distributes 50% of the funds earned for liquidity and liquidity incentives in addition to optimizing minting quantities and rewarding early backers with their NFTs.
What is the Yaka Finance ($YAKA) Token?
$YAKA is the native token of Yaka Finance. They are using the $YAKA token as well. Yaka Finance is going to use $YAKA as its utility token and $YAKA as its NFT-based governance token.
The YAKA token has the following uses:
Liquidity provision:
By giving the protocol’s pools liquidity, users are able to collect $YAKA tokens.
Governance participation:
$YAKA tokens, which are NFTs that can be exchanged for voting the ability to protocol revenue, are given away to users who lock their $YAKA tokens for a maximum duration of two years in a row.
Gauge voting:
To vote for the gauges, which are pools with changing rewards based on weekly allocation, users can use their $YAKA tokens. Also, third parties may bribe users in exchange for their votes.
Revenue claim:
Each epoch lasts for 7 days, during that time users can claim their share of the trading fees and bribes from the gauges they voted for.
Lockup:
To become 100 $YAKA, you need to lock up for two years. 100 $YAKA can be locked up for two years in the temporary to become 25 $YAKA.
However, the following applications are available for the $YAKA token:
Protocol revenue access:
Holders of $YAKA tokens have the power to weekly vote rights for gauges and are able to receive 100% of the trading fees and bribes for the related pool.
Governance participation:
Holders of $YAKA have a chance to vote on options for protocol adjustments and take part in governance.
Voting benefits:
Voters for $YAKA are able to receive weekly $YAKA distribution, bribes deposited for the pools they support, and trading fees generated by the pool(s) they support.
How to get Yaka Finance ($YAKA) token airdrop?
Yaka Finance ($YAKA) has listed a number of objectives that you may be able to do to be included for their next airdrop.
Time required: 50 minutes
Here’s how you can claim Yaka Finance ($YAKA) token airdrop
Download and set up your SEI Network wallet
Set up the Compass Wallet using the following link: Link your wallet to the following Link.
Connect to Yaka Finance
Link your compass wallet to link.
Get testnet $SEI tokens
Visit the site. Link your wallet and Discord account. After that request some $SEI testnet tokens. You’ll receive 5 $SEI tokens per day in your wallet as a result. Get more testnet $SEI tokens by joining Yaka Finance’s Discord channel.
Swap on Yaka Finance
Visit the site. Switch between the USDT, USDC, YAKA, and SEI testnets. You earn 10 points toward the airdrop for each transaction you complete on the testnet.
Add liquidity
Visit the site. Add assets to the pool after selecting a pool.
Galxe quest
Visit Yaka Finance’s Galxe page and finish the tasks. These tasks include engaging with Yaka Finance’s social media platforms. Be aware that one of the tasks will need you to sign up for Yaka Finance’s Discord channel at click here and get the Yaka Blast role by visiting #special-roles and selecting the crown emoji.
Obtain roles on Yaka Finance Discord
Join Yaka Finance’s Discord at Yaka Finance’s Discord and claim Yaka Blast role by clicking and going to the #special-roles and reacting to the crown emoji. After that, participate in the community to gain titles on Discord such as Meme Master, Yaka Lad, Yaka Gent, and Yaka Aquaman. To gain access to the whitelist, you must achieve these roles.
Complete Whitelist Tasks
Take part in Yaka Finance’s whitelist round after joining to guarantee a seat in the public sale. You can select from a variety of roles, including community member, meme creator, and Twitter influencer. To gain points, perform the necessary tasks for each role according to the instructions.
Engage with the Community
Participating actively in the Yaka Finance community might also assist you in earning points. Participate in other community forums or their Discord channel. Engage with other community members, offer helpful feedback, and take part in conversations. Yaka Finance rewards active members because they value community involvement.
Check your airdrop points
To check your airdrop points, connect your wallet to Yaka Finance and navigate to the “Airdrop” page.
Mint Yaka Voyager NFT
Return to their Galxe page after obtaining the Yaka Blast role, then connect your SEI wallet. Mint your Yaka Voyager NFT after that. Be aware that in order to pay transaction fees, you will require to pay some $SEI. However, it is reasonably priced.
Stake Yaka Voyager NFT
You can stake your Voyager NFT on the Yaka Finance DEX once the SEI EVM mainnet becomes live to get a cut of the trading fees and royalties from secondary sales.
Earn rewards!
There will be a set total airdrop of 6 million YAKA tokens available to holders of Yaka Voyager NFTs and stakers as $YAKA tokens. Furthermore, a portion of the trading fees for the YAKA DEX will be distributed to Yaka Voyager NFT stakers.
Yaka Finance ($YAKA) Airdrop Review
There are a few things to take into account when checking an airdrop. First, what chance is it that the project will actually carry out an airdrop? Next, look at the project’s set up token allotment to airdrop campaigns and the problems related to airdropping tokens. Examining the token’s utility is also an important step for making sure that there is an actual need to join the airdrop in the first place. Lastly, when there is a lockup period on the airdropped tokens, that is something to take into account when checking the airdrop.
Airdropped token allocation:
Yaka Finance has announced that they will set aside 12 million tokens, or 6% of their total token supply, for an airdrop campaign, subject to a month’s lockup.
Likelihood of airdrop:
The airdrop for Yaka Finance ($YAKA) has started!
Airdrop difficulty:
Participants in the Yaka Finance airdrop must engage with their testnet and finish easy social tasks on their Galxe page.
Token utility:
Yaka Finance’s ($YAKA) token will be used for governance, reward entitlement, and liquidity provision.
Token lockup:
After the Token Generation Event, airdropped Yaka Finance ($YAKA) tokens will be locked for one month.