Skip to content

Latest commit

 

History

History
33 lines (21 loc) · 1.33 KB

yfi-and-ytokens.md

File metadata and controls

33 lines (21 loc) · 1.33 KB
Raw

YFI and yTokens

YFI

  • Yearn Governance token
  • Only 30,000 minted and already fully distributed
    • Governance can mint more, if proposal to do so passes.

yTokens

Glossary definition.

YTokens are like a deposit receipt. They represent the liquidity provided in a Yearn product.

For example, if you deposit DAI in y.curve.fi you will receive yDAI in return.

If the product you are providing liquidity to generates profit, your yTokens will increase in value, since they represent a share of that pool. That's why you might observe a price growth. When you withdraw liquidity from the pool, your yToken will be burned.

yTokens are ERC20, meaning they can be transfered and traded as any other common Ethereum token.

yUSD

  • See our doc on yUSD for detailed info
  • LP token for yearn's yCRV yVault
  • aka yyCRV or yyDAI+yUSDC+yUSDT+yTUSD
  • When you deposit yCRV into the yVault you receive yUSD**** LP tokens
  • earns interest via yCRV, fees and yield farming rewards via the vault strategy

yCRV

  • LP token for yearn's Y pool at Curve.fi/y
  • Aka yDAI+yUSDC+yUSDT+yTUSD
  • Interest earning token representing your share of the Y pool composed of DAI, USDT, USDC, and TUSD