> For the complete documentation index, see [llms.txt](https://docs.apyx.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.apyx.fi/product-overview/apyx/yapyx.md).

# yAPYX

### What is yAPYX?

yAPYX is the dividend-bearing APYX staking vault.

Users deposit APYX into the vault and receive yAPYX in return. As protocol revenue accrues, the vault accumulates apxUSD and distributes it to yAPYX holders as dividends.

In simple terms:

> Stake APYX. Earn dollar-denominated dividends in apxUSD.

yAPYX is designed to extend the core Apyx model, a dividend-backed protocol, directly to APYX holders.

## How yAPYX Works

1. Stake APYX
2. Receive yAPYX
3. Protocol revenue accrues to the vault
4. Revenue is accumulated in apxUSD
5. apxUSD is distributed to yAPYX holders as dividends

Unlike xAPYX, where rewards compound in APYX itself, yAPYX distributes yield in dividend-backed dollar form.

## Why Stake Into yAPYX?

yAPYX may be best suited for users who want:

* Predictable dollar-denominated yield
* Exposure to protocol cash flow
* Dividends instead of APYX compounding
* Long-term APYX governance participation while generating income

This makes yAPYX the natural option for users who prioritize cash flow generation over maximizing APYX exposure.

## yAPYX vs. xAPYX

Apyx offers two staking vaults for APYX holders:

| Vault | Yield Denomination | Best For                                        |
| ----- | ------------------ | ----------------------------------------------- |
| xAPYX | APYX               | Users who want compounded APYX exposure         |
| yAPYX | apxUSD             | Users who want dividend-backed dollar dividends |

Both vaults receive exposure to protocol revenue.

The difference is entirely about:

* **How rewards are paid**
* **What type of exposure users want**

Users bullish on APYX appreciation may prefer xAPYX.

Users seeking predictable digital credit cash flow may prefer yAPYX. 

## Transferability

yAPYX is designed to be transferable across DeFi.

Apyx plans to integrate yAPYX across:

* Lending markets
* Collateral venues
* Pendle
* Additional DeFi applications

This allows users to maintain productive staking positions while still participating across the broader DeFi ecosystem.

## Cooldown Period

yAPYX includes a 7-day cooldown.

Users entering the vault commit to a one-week unbonding period when exiting in exchange for access to protocol revenue sharing.

## Governance Rights

Staking into yAPYX does not reduce governance participation. yAPYX holders maintain voting power based on the amount of APYX staked in the vault. The decision between xAPYX and yAPYX is about yield preference, not governance rights. 

## Protocol Revenue & Staker Alignment

At launch, more than 50% of total APYX supply is intentionally non-staking by design.

This includes:

* Foundation allocations
* Undistributed future airdrops
* Growth reserves

These allocations do not participate in staking rewards.

As a result, the portion of protocol revenue allocated to stakers is shared among a smaller active staking base, increasing the effective share earned by participating stakers.

## Summary

yAPYX is the dividend-bearing staking vault for APYX holders.

Stake APYX, receive yAPYX, and earn protocol revenue distributed in apxUSD.

For users who want dividend-backed dollar-denominated cash flow backed by the growth of onchain digital credit yield, yAPYX is designed to be the natural staking choice.


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