Sierra Protocol has launched SIERRA, the first dynamically rebalanced Liquid Yield Token (LYT) on the Avalanche network. This innovative token offers DeFi users passive, risk-adjusted yield through a diversified portfolio of real-world and on-chain assets. Users can acquire SIERRA via the Sierra web app or by swapping USDC on LFJ, Avalanche's largest decentralized exchange. The SIERRA token's reserve portfolio is managed using Sierra's proprietary Risk Framework, featuring a mix of investment-grade real-world assets and blue-chip DeFi protocols. Sierra collaborates with OpenTrade to oversee its reserve strategy, which includes U.S. Treasury money market funds, commercial paper, and DeFi protocols such as AAVE and Morpho. A Transparency Dashboard provides real-time insights into performance and portfolio composition.