No. Someone else will press it for you to earn the reward.
How does it work?
The reinvest button takes all pending rewards from a pool, converts them into the farm asset, and reinvests them back into the pool to compound deposits for everyone in the farm.
There is a variable reward to incentivize users to press that button. Whoever is first to press the button, earns the reward and compounds everyone's deposits.
When should I press it?
The reinvest button is optional. You do not need to press it. However, you might be motivated to press it to earn the reward.
If your goal is to net gain in AVAX, then you need to consider the reward token / AVAX price ratio, transaction cost for reinvesting for that particular pool, the transaction cost for swapping the reward token into AVAX, etc.
You do not need to participate in the pool to be able to receive the reinvest reward. Anyone pressing the button and completing the transaction will receive the reward. With that in mind, it can be competitive, so be sure to be quick.
Example of the Reinvest Process
So for example, let's say you're in the below pool (Pangolin ETH-AVAX / PEFI).
By participating in this pool, you have provided liquidity on Pangolin in the form of ETH and AVAX and you have deposited those LP tokens in the Yield Yak farm. Those LP tokens are then being deposited on Penguin Finance and the rewards for this pool are given in PEFI.
A reinvestor presses the button when there is a pending balance of 100 PEFI.
The reinvestor collects 3 PEFI (given a 3% reward)
The treasury collects 5 PEFI (given a 5% fee)
The remaining PEFI are reinvested
The remaining PEFI are sold for ETH and AVAX, added to Pangolin LP tokens and then deposited back in the pool.
The reinvest function contains a protection mechanism in order to limit how quickly two reinvests may happen in a row. By design, the second transaction (which receives almost no reward) should fail at a very low gas cost (~0.03 AVAX) instead of being executed with the full gas usage.
If you receive almost no reward because someone else was slightly faster and your transaction was successful, please suggest a change to this configuration to our team.
If you encounter a transaction failure after pressing the reinvest button, this is normally for one of two reasons:
Somehow you managed to submit a transaction when the token reward was below the minimum threshold. The fee (gas) is relatively low, however. (~0.03 AVAX).
Somehow the default gas limit for reinvest is not sufficient for the transaction. You may need to manually increase the gas limit. Failure due to this may end up costing you the entire default gas limit.
Fees are collected each time a farm is compounded, from the reward tokens.
Fees are usually between 5-10% of the reward tokens. Fees are variable and change with network conditions to optimize rewards. There are three categories of fees:
Reinvest Reward - paid to reinvestor who presses the button
Admin fee - paid to network
Developer fee - paid to developer who wrote the strategy
Yield Yak enforces no deposit or withdraw fees (although the underlying farms may).