Yield Farming with YFII

YFII is a fork of Yearn.finance YFI with YIP 8 implemented

Currently, you can farm YFII using 2 pools:

  1. Yearn

  2. Uses y-curve tokens

  3. Current APY (671.1141%)

  4. https://yieldfarming.info/yfii/ycrv/

  5. Balancer

  6. Uses 98% DAI and 2% YFII

  7. Current APY (1061.7382%)

  8. https://yieldfarming.info/yfii/yfii_dai/

Yearn pool

  1. First, you need to get y-curve tokens. To do this go to https://www.curve.fi/iearn/deposit

  1. Fill in the amount you wish to deposit. Note : Maximum amount is automatically selected for you.
  2. Click on deposit, you’ll need to confirm spending of your stablecoin and then you can deposit your stablecoin
  3. After the transactions confirm you will get y-curve tokens, the transaction will look like this:

In this transaction, I deposited USDT and got Y curve tokens.

  1. With your new Y curve tokens, go to http://yfii.finance/ and click stake and click on yearn

You will see your y curve tokens amount show under “Your Balance”

  1. Click on Stake Tokens and confirm the transaction that pops up.
  2. You will then start to earn YFII! After you have enough, you can click Claim Rewards to get your YFII.
  3. To exit from the yearn pool, click on “Exit: Claim and Unstake”, you will then receive your y curve tokens back.
  4. To convert these y curve tokens back to your original stablecoin, go back to https://www.curve.fi/iearn/withdraw and select whether you wish to withdraw in a combination or in DAI/USDT/USDC/TUSD specifically. There will be two transactions to confirm too.

Balancer Pool

  1. To participate in the Balancer Pool, you’re going to need YFII. To get this, you can follow the earlier steps for the Yearn Pool or you can purchase it from https://balancer.exchange/#/swap/0xa1d0e215a23d7030842fc67ce582a6afa3ccab83 using DAI.

  1. Instead of buying it here, you can also provide liquidity as a single asset. By doing this, it’s the same as buying the token. Go to https://pools.balancer.exchange/#/pool/0x16cAC1403377978644e78769Daa49d8f6B6CF565 and click on Add Liquidity and Choose Single Asset. Remember to click on the red box on the bottom left which agrees to the terms.

  1. After adding liquidity, you will receive Balancer Pool Tokens (BPT), which are specific to the pool. The transaction will look like this:

  1. With the BPT, go to https://yfii.finance/#/staking and click on Balancer, and click on Stake Tokens

  1. After the transaction is confirmed, you balance under “Currently Staked” will update. You will then start to earn YFII.
  2. To exit, just click on Exit: Claim and Unstake to get back your BPT.
  3. With your BPT, go to https://pools.balancer.exchange/#/pool/0x16cAC1403377978644e78769Daa49d8f6B6CF565 and click on Remove Liquidity, you can then choose to withdraw it all in DAI or YFII or a 98% DAI 2% YFII split.
  4. Done!