APY rates are flexible, and can change depending on the market conditions. You can see current rates for yXLM on this website, but we also publish APY rates on blockchain, so you can further verify on explorer. We always aim to provide better APY rates and thus can switch between different trusted service providers to ensure best yields.
You’ll need a Stellar wallet to store yXLM and receive daily rewards. Any Stellar wallet would work as long as it allows you to add trustlines. We recommend LOBSTR for mobile devices, StellarX for desktop. It’s always a good idea to use a hardware wallet such as Ledger or Trezor, especially if you plan to store significant amounts.
Ultra Stellar provides anchoring service that enables 1:1 conversion between yXLM and XLM. Follow the instructions on this website, the whole process only takes a few minutes.
Further on, we will continue to investigate other options for revenue generation, including providing loans. Any changes to the model of revenue generation will be communicated in advance on our social media channels and on the website.
Even though Ultra Stellar takes a small fee for management of the funds, there's a chance that yXLM will provide better returns and higher effective APY than using the same CeFi/DeFi provider directly. The additional savings are possible because we can often reduce fees (network, deposit, withdraw) when operating with larger amounts.
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