Sierra Protocol launches the first Liquid Yield Token with dynamic rebalancing on the Avalanche network. Backed by stablecoin reserves, tokens accrue yield immediately. Users can receive permissionless access to the Liquid Yield Tokens immediately by swapping their USDC holdings with any wallet on the protocol’s web app or on Avalanche (AVAX)’s DEX LFJ, previously known as Trader Joe. After purchasing the token dubbed SIERRA, it will start generating yield immediately.