YFII is a fork of Yearn.finance YFI with YIP 8 implemented
Currently, you can farm YFII using 2 pools:
Uses y-curve tokens
Current APY (671.1141%)
Uses 98% DAI and 2% YFII
Current APY (1061.7382%)
- First, you need to get y-curve tokens. To do this go to https://www.curve.fi/iearn/deposit
- Fill in the amount you wish to deposit. Note : Maximum amount is automatically selected for you.
- Click on deposit, you’ll need to confirm spending of your stablecoin and then you can deposit your stablecoin
- 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.
- 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”
- Click on Stake Tokens and confirm the transaction that pops up.
- You will then start to earn YFII! After you have enough, you can click Claim Rewards to get your YFII.
- To exit from the yearn pool, click on “Exit: Claim and Unstake”, you will then receive your y curve tokens back.
- 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.
- 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.
- 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.
- After adding liquidity, you will receive Balancer Pool Tokens (BPT), which are specific to the pool. The transaction will look like this:
- With the BPT, go to https://yfii.finance/#/staking and click on Balancer, and click on Stake Tokens
- After the transaction is confirmed, you balance under “Currently Staked” will update. You will then start to earn YFII.
- To exit, just click on Exit: Claim and Unstake to get back your BPT.
- 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.