Avalanche Treasury firm AVAX One (NASDAQ: $AVX) says its working with Treehouse to help boost yield on its staked Avalanche (CRYPTO: $AVAX) holdings.
The Florida based company has deployed more than 800,000 AVAX into tAVAX, Treehouse’s liquid staking function that runs on the Avalanche blockchain.
“Part of our broader Avalanche treasury strategy is to utilize our AVAX Holdings as productively as possible,” said Jolie Kahn, Chief Executive Officer of AVAX One. “By deploying a portion of our holdings with Treehouse, we are taking advantage of an opportunity to both further expand and diversify our yield potential.”
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According to the release, the company said it expects to generate an annual yield of approximately 6%. This strategy supplements the firm’s existing validator infrastructure, which already stakes more than 90% of its treasury.
AVAX One, which recently launched a $40 million share repurchase program, said that if results of this initial 800,000 AVAX deployment hit the mark, it may consider moving more of its AVAX tokens to into Treehouse’s staking platform.
Shares of AVAX One are trading at 84 cents on the Nasdaq stock exchange.
