Thread by @Darrenlautf

The y-pool on Curve has gone crazy again🤯 and it's because of $YFI (coingecko.com/en/coins/yearn…), which is the governance token of yearn.finance. Here's a guide on how to farm it!

There's 3 pools to farm $YFI:
yearn - needs y-curve tokens, gets $YFI
balancer - needs $YFI and DAI, gets $YFI and $BAL
Governance - needs $YFI and y-curve, gets $YFI, $BAL, $CRV

Read more here medium.com/@andre_54855/p…

Step 1 : Getting y-curve tokens

Go to curve.fi/iearn/deposit

Input the amount and choose deposit and stake. Confirm all transactions

Tip : do it before Asian waking hours for cheaper gas fees

Step 2 : After deposit and stake go to ygov.finance/stake, connect your wallet and click on stake and then yearn. By right it should show you a 0 for your balance (mine shows 116.02) and an amount for your currently staked (0.81)

After a while, you can claim rewards : $YFI

Step 3 : After getting $YFI (buy 💰 from balancer using DAI/y-curve tokens /farm🧑‍🌾)

Check yieldfarming.info to see which pool gives you the better APY, right now pool 2 gives you the most APY.

So how do I farm pool 2?

Pool 2 is a 98% $DAI/2% $YFI pool. To see how much $DAI/ $YFI you need, first go to pools.balancer.exchange/#/pool/0x60626…

Click Add liquidity, and input the amount under deposit amount (don't use Max), unlock the token (2 txns) and add liquidity (1 txn)

You'll get $BPT from this.

With your $BPT go back to ygov.finance/stake, choose the Balancer pool and stake your tokens. After successful, your currently staked amount will update. After a while you'll get $YFI to claim, you can sell this or stake it (later)

But what if you want $CRV tokens too? Then you need to farm using pool 3: Governance. (98% y-curve (refer step 1), 2% $YFI)

Go to pools.balancer.exchange/#/pool/0x95C4B…, unlock tokens and add liquidity, get BPT in exchange

Note : $CRV isn't out yet.

After getting the BPT from this, go back to ygov.finance/staking and select Governance. Stake your BPT and your currently staked will update, you can then earn $YFI and $CRV and $BAL!

Note : BPT for this pool and pool 2 are different. Make sure it's the right pool.

Is that all? Kinda yes, you can just claim your $YFI and enjoy financial freedom but what if you want to do more?
What if you want the platform to be better?

Go to ygov.finance choose vote and you can see all the proposals here, read more on gov.yearn.finance

If you like or don't like a proposal, you can just click Vote For or Vote Against.

Note : Voting will lock your tokens in the Governance pool around ~3 days until vote ends.

But wait why the heck would I lock my tokens??😡

Well for rewards duh 💰

After voting, go back to ygov.finance/stake and choose fee rewards, you can then stake your y-gov tokens (that you get from Pool 3) and earn more rewards (system fees) ~$54,288 USD over next ~7 days

And that's it.

Note : this is not financial advice, please only put in the funds you are willing to use. If you feel this is sketchy, you can always not use the platform, I'm just writing a guide, there's risks so DYOR. Anyways to those that want to do this, enjoy your yield :D #freealpha

Here's a good read on $YFI by @Cooopahtroopa @DeFiRate defirate.com/yfi-governance…

Useful links:
yearn.finance
coingecko.com/en/coins/yearn…
$YFI Etherscan etherscan.io/token/0x0bc529…
Y-curve Etherscan
etherscan.io/token/0xdf5e0e…
Balancer balancer.exchange/#/swap/0x0bc52…