Hubble Exchange Partners with Yield Yak to Integrate Yak Swap
Hubble Exchange has partnered with Yield Yak to integrate Yak Swap. The integration allows traders and makers (LPs) on Hubble Exchange to swap between collaterals within their margin account and settle their negative hUSD balance using their collateral.
Yield Yak provides tools for DeFi Users on Avalanche. Yak Swap, its liquidity aggregator and swap tool, provides the best prices for swaps on Avalanche with the deepest liquidity coverage and zero aggregator fees. This makes Yap Swap a highly competitive aggregator, providing Hubble Exchange’s traders and makers the best execution route when they need to settle their hUSD debt with the protocol.
“It’s an honour to integrate and work with Yield Yak. They are OGs in the Avalanche-Ecosystem and have a strong track record of building very relevant products. This integration marks the beginning of our relationship with Yield Yak and we look forward to exploring more synergies to grow the derivatives landscape on Avalanche together.“
Why does Hubble Exchange need to integrate an exchange aggregator?
Hubble Exchange is a multi-collateral Perpetual Futures Exchange. Traders and Makers can add assets such as AVAX and ETH as collateral for their positions. The PnL from these positions is reflected in Hubble Exchange’s unit of account: hUSD. When a position/account is profitable, users have a positive hUSD balance. However, when the market moves against their account/position, users experience a negative hUSD balance. A negative hUSD balance prevents users from withdrawing their collateralized assets, until the hUSD debt is settled.
In the past, traders had to deposit fresh USDC to Hubble Exchange to mint hUSD in order to clear their hUSD debt. With the implementation of this integration with Yak Swap, traders and makers are enabled to settle their hUSD debt by selling the collateral that is already deposited within Hubble Exchange to clear their debt.
What’s more? Trade within your margin account.
While your assets are collateralized on Hubble Exchange, you can trade with them to switch your exposure between any of the listed collateral assets. Example: if you have Ethereum in your margin account, collateralizing your trades and/or LP position and your view on Avalanche has switched to bullish. If you’d like to maintain exposure to AVAX as opposed to Ethereum, you can swap to AVAX from within your margin account, powered by YakSwap.
This is a giant leap forward in providing a dFTX experience to our community.
On-Chain invitation to Yield Yak holders to join the Hubble Exchange DAO
The Hubble Exchange DAO would like to take this opportunity to invite Yield Yak holders to join the Hubble Exchange DAO. The first 50 will be eligible to claim their Hubble Space Cat — an NFT used to govern the Hubble Exchange DAO.
Criteria for eligibility:
- Hold at least 0.25 YAK.
Note: staked, auto-compounding, and YAK / AVAX LP’d versions of YAK are eligible.
To claim, you must:
- Trade on Hubble Exchange.
- Claim your HSC on spacecats.hubble.exchange.
The HSC must be claimed before the end of 2022.
About Yield Yak
Yield Yak builds tools for DeFi users on Avalanche. Yield Yak Farms auto-compounds rewards for you. Yak Swap funds the best price execution for dex trades. yyAVAX is Avalanche’s highest yielding liquid staking token.
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About Hubble Exchange
Hubble Exchange is a decentralised platform for trading perpetual futures on Avalanche. Utilising Avalanche’s low fees and highly scalable infrastructure, Hubble aims to offer a Avalanche-native experience for trading perpetual futures with its multi-collateral, cross-margin design.
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