COSIMO X Backs yAxis for Easy Yield Farming
Brand Story
18 Jun 2021, 05:15 GMT+10
COSIMO X, the world's first tokenized fund, is now backing yield farming solution yAxis. Yield farming is one of the most popular investment strategies in the Crypto DeFi sector and enables investors to lock their idle assets into protocols that offer attractive returns. The top four aggregators that provide these strategies as a service have reached a total value locked (TVL) of over $6 billion.
The project is set to be the single point of entry into DeFi
The decision to back yAxis is motivated by the need for a platform that gives investors simplified access to these aggregation services. The project consists of a decentralized autonomous organization (DAO) that determines and approves optimised strategies to allocate investors' funds across the various yield farming aggregators. Holders of the yAxis governance token earn a performance fee for designing and recommending strategies in their role as fund managers. Meanwhile, yAxis users receive all the benefits from a single, easy-to-use and inexpensive entry point.