The curve yield has fallen a lot due to the recent decline of DeFi coins.
So, in search of a high yield, I tried to withdraw USDC to DAI and mine YFII.
YFII is a forked version of YFI that is still being mined, and the annual return of DAI/YFII of Balancer is currently over 120%, so even if YFII is at rest, it is calculated that if it is mined for only one week, it is calculated that the main battle will be carried out.
How is it? Is it simple?
Now~ Then it starts now.
I. Exchange for stablecoin DAI
II. Supplying liquidity to Balancer Pool DAI/YFII (98:2)
To provide liquidity to the balancer pool, 100% DAI is converted to 98% DAI and 2% YFII.
I swapped DAI only by 2% YFII at https://1inch.exchange/#/DAI/YFII .
(You can get YFII from the exchange or you can get YFII from another DEX)
Click unlock, approve the gas fee, click swap now, and approve the gas fee, then YFII will enter your personal wallet (1.87% slippage occurred)
Go to https://pools.balancer.exchange/#/pool/0x16cac1403377978644e78769daa49d8f6b6cf565/ to add liquidity.
When you click Add Liquidity in the upper right of the screen, a pop-up appears. After clicking unlock each token, you approve the gas fee.
Then, enter the appropriate quantity in the Deposit Amount and click Add Liquidity at the bottom to approve the gas cost.
By this point, you will have BPT tokens in your personal wallet.
III. Staking BPT Token YFII
It's all over. It's just over 5 days left until the next half-life.
YFII tokens can be claimed at any time and converted into cash, or if you think it will go up, you can leave it.
Gas bills were spent in total of 0.1283 ETH ($47 USD).
If you access https://yieldfarming.info/yfii/yfii_dai/, you can check the real-time revenue status.
The week 2.4983 divided by 7 is the daily rate of return. When it comes to meaningless annual income, it is 129%^^
This time, I had to work on both Balancer and YFII, and I wandered once because I didn't have any prior knowledge.
By depositing in the wrong place, gas and useless expenses are incurred, and some assets are tied up.
I had to settle in one place for a long time, but the rate of return changed too quickly, so I became a migratory bird.
This is not an investment recommendation, and you know that you are responsible for the investment, right?^^
Please read it lightly as an investment review and ask for a vote if it helps.
