A programmatically adjusted aggregator of loans, an arbitrator and optimized farmer yield. Yearn smart contracts are seen as easier and less risk than their counterparts in yVaults. In contrast, smart contracts from yVaults are considered more complex and higher risk but prefer to produce higher ROI in return.
A user must hold a given unit of yLand required to interact with yVault.
Chose a yVault and define how many tokens to deposit.
Approve the contract through the UI of your wallet.
Confirm the deposit transaction which will include the total amount of tokens you will deposit.
Check that transaction is successful.
Sit, relax, and let the ROI bring your passive income in.
Let 's take curve.fi/y LP yVault as it is a multi-step method to deposit into this highly performing vault and it covers simpler case.
First | You will need Fiat to Crypto:
For this, we would recommend registering on Bitpanda or Binance. Note that different fiat <-> crypto exchanges have different regulatory requirements for different regions.
Second | What you have to do:
Deposit stable coins (DAI, USDC, USDT, TUSD) into the liquidity pool of the Y Curve, which in return sends a token that reflects your deposit to your wallet.
In return, you will receive a number of yDAI / yUSDC / yUSDT / yTUSD tokens in your wallet (you will need to add this custom token to your wallet).
Then you need on your wallet one of the above stable coin as the Liquidity Pool input. You can get these stable coins from:
DEX and DEX aggregators such as 1inch.exchange
By providing collateral and borrowing via MakerDAOs Oasis App or Instadapp, a stable coin such as DAI that aggregates features from multiple Defi apps and enables you to get DAI from a collateral such as ETH.
Third: Now you can acces "curve.fi/y LP" located in yVault
You will need to connect your wallet for this to be shown.
Now you can select the percentage of your yCRV tokens in your wallet you would like to deposit in the yVault
After the quantity has been determined, click on the Deposit. Your wallet will ask you for permission and then ask you to "confirm" the transaction.
After succesful transaction you will see your yCRV (LP tokens from the Y CRV liquidity Pool) as deposited