What is YFV, how to staking and farming (guide + faqs)
Disclosure: Some of the links below are affiliate links
Spanish Translation (En español): https://medium.com/@cryptonightmare/yfvalue-yfv-finance-farmeo-de-liquidez-y-preguntas-frecuentes-74ea3dfc1002
Table of content
- What is YFV + info and links
- Start staking/farming YFV
- Seed Pool (Stablecoins)
- YFV gobernance vault
- BPT Staking (Farm YFV with balancer pools)
- Eth fees resume
- Withdraw funds (Remove liquidity) on balancer pool with BPT from YFV pool
- YFV referral program
- Choosing the best pool to start farming
- I cant see my balance/stats on balancer after stake BPT!
- Wallet error: method eth_sendTransaction does not exists/is not available
- Impermanent losses information (defi farming risks)
YFV will transition and be swapped to VALUE
YFV VAULT IS ON!! go and stake → https://yfv.finance/?a=3gLCFd9DRaH2nCxzvPApP3yJKBBd
98/2 Asset/YFV Balancer pools will transition from farming YFV to farming VALUE. You will need to approve this transition.
At a later date, 98/2 Asset/YFV Balancer pools will be migrated to Value Liquid as 98/2 Asset/VALUE Liquid pools. No action needed from farmers.
1. What is YFV
YFV (YFValue) is a cryptocurrency YEarn inspired governance token that rewards to liquidy miners (yield farmers) .
YFV is the governance coin on the platform which will be used to vote on Dao decisions and can be used/traded on exchanges!
Information and links
Yfv contract: 0x45f24BaEef268BB6d63AEe5129015d69702BCDfa
vUSD contract: 0x1b8e12f839bd4e73a47addf76cf7f0097d74c14c
vETH contract: 0x76A034e76Aa835363056dd418611E4f81870f16e
vETH/USDC on uniswap: no liquidity yet
Balancer Exchange: https://balancer.exchange/#/swap/0x45f24baeef268bb6d63aee5129015d69702bcdfa
1inch exchange: https://1inch.exchange/#/ETH/YFV
Circulating: 2,366,035.85 YFV
Current Total Supply: 4,119,623.38 YFV
(updated date: 16/09/2020)
2. Start staking/Farming
We can start farming yfv on 3 diferent ways
- Seed Pool (Stablecoins): Here we can stake USDT, USDC, TUSD or DAI, here there is not risk of impermanent loss but the APY is much lower than other pools
To start staking on Seed pool we need follow next steps:
- Go to https://valuedefi.io/?a=3gLCFd9DRaH2nCxzvPApP3yJKBBd and connect your Wallet, metamask is preferred, other wallets can cause some problems
- Select the stablecoin you want to deposit and click on farm.
2. YFV staking
To start staking YFV we need get some yfv tokens, we can pursache it on uniswap, balancer or any centralized exchange
- Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0xdAC17F958D2ee523a2206206994597C13D831ec7&outputCurrency=0x45f24BaEef268BB6d63AEe5129015d69702BCDfa
- Balancer Exchange: https://balancer.exchange/#/swap/0x45f24baeef268bb6d63aee5129015d69702bcdfa
YFV Staking requisites (update)
The new voting result removed the min stake requirement and
You can only unstake tokens after at least 40 hours or with withdrawal fee of 1.92%
2.1. YFV vault, vUSD and vETH
In the new gobernance vault , we can earn vUSD, vETH and YFV , if you are on stake pool v2 you should move your stake to new vault here: https://valuedefi.io/?a=3gLCFd9DRaH2nCxzvPApP3yJKBBd
You can only unstake tokens after at least 40 hours or with withdrawal fee of 1.92%
ETH FEES: we must allow spend our yfv (0,0045 eth) and then stake (0,0179) (transaction were made at 105 gwei.
Check gwei here https://ethgasstation.info/
YFV holders can deposit their YFV into the new governance vault and then receive vUSD, vETH and shared profit in YFV from upcoming Value Vaults.
However, there is a small change that will bring tremendous value to YFV stakers. The YFV deposited will not simply sit in the pool as idle capital, but will also be used to farm other protocols for yield. The profits will be used to buy back YFV and distribute them among all YFV stakers in the governance vault. All stakers in the new YFV Governance Vault will maintain the same voting power as is in the current state of stakers in the current Staking Pool v2.
vUSD and vETH
Yfv made 2 tokens with elastic supply (vusd and veth) following ampleforth elastic supply technology, this tokens change contract supply when some market conditions happends to finally target 1 usd = 1 vusd and 1eth = 1veth.
vUSD and vETH will be used in the yfv protocol (vault, pay rewards, stake, etc), there will be a total of 1.000.00 vUSD and 1000 vETH, when farmers harvest their earning, this tokens will be harvested as the same rate.
3. BPT Farming with balancer pools
What is BPT? : First “Balancer Pool Token” is not the same as Balancer Token, Balancer Pool Token represent your share ownership on a balancer pool, each pool have a different BPT token with a custom contract address, you get BPT after add liquidity to any balancer pool, you can transfer that token as a erc20 token, also if you lose your BTP you will lose all your funds on the pool!.
This is a risk pool. Funds are added into a balancer liquidity pool. Your funds will be used on market exchanges and there is a possibility of impermanent loss, but you will be rewarded with swap fees too and it can reduce losses or increase your earning if all go ok. When you add funds into a balancer pool, u will be rewarded with BPT (Balancer pool token). You will use that BPT to stake on https://valuedefi.io/?a=3gLCFd9DRaH2nCxzvPApP3yJKBBd
You can learn more about impermanent losses here:
Farm with zappier.fi
Farm in balancer
You can see the list of YFV pools on balancer using this link (this link filter it for you) https://pools.balancer.exchange/#/?token=0x45f24BaEef268BB6d63AEe5129015d69702BCDfa&filter=1
As example we choose Bal/YFV pool, we need follow these steps to start staking BPT
- We select the BAL/YFV pool that is on the above link. https://pools.balancer.exchange/#/pool/0xc19e3035a4f6f69b981c7dc2f533e862aa3af496/
- Connect your metamask wallet
- Click on Add liquidity
Adding liquidity to yfv balancer pool
- First time on balancer is required create a proxy contract, is needed once for all balancer protocol and pools, to add liquidity we need unlock the token first and both actions will cost some eth fees. Check gwei !
4. With our BPT tokens we go to yfv pool on https://valuedefi.io/?a=3gLCFd9DRaH2nCxzvPApP3yJKBBd and select the pool that we choosed on balancer (previus step)
Stake BPT (balancer pool tokens) on yfv.finance page
5. Click on farm and… farming starts!
ETH Fees resume
Following examples was done with 120 Gwei
If we farm YFV we need pay more eth fees for interaction with balancer protocol
Balancer proxy contract: is required just once for all balancer protocol, it has a higher cost, around 15–25$ in eth, check gwei value here https://ethgasstation.info/
Unlock token to allow spend: is required once for each token for balancer proxy contract, each unlock have a low cost. (around 1–2$)
Providing liquidity to balancer pool need more eth fees yes..
Providing liquidity cost around 8–15$ with stable gwei cost
Stake BPT or YFV costs: Stake bpt or yfv has similar cost, but we need allow spend our token first , it cost around 2–4$, stake those tokens will cost another
Total fees can be around 40$ with stable gwei, it can be higher or lower, depends of gwei
Removing liquidity on balancer pool with BPT from YFV pool
- First you need unstake your BPT from yfv pool
- Remove liquidity from balancer
remove liquidity from balancer pool with BPT token ( wbtc-renbtc-weth pool example)
4. YFV FAQS
Where is my referral code and how referral program works
You can see your link and stats inside a farm pool. Click on view affiliate and share your link! . You can use my link to join :) https://valuedefi.io/?a=3gLCFd9DRaH2nCxzvPApP3yJKBBd
Note: You will not get earning from staking pool v2
You will earn a 1% of your referrals earnings in YFV Token, you dont need withdraw something, the earnings will be send when your referral unstake/withdraw their earnings!
What is the best pool to start farming
All YFV will be distributed along all pools as we can see in the tables. Epoch is just a time period/interval
You can see ROI on https://yfv.finance page. That roi will change frequently with total staked ammount and yfv price ,at this moment better pools are BAL-BAT-KNC (yfv returns) . You also need check swap fees return on balancer pool. Some pools give more fee returns!
I cant see my tokens/stats on balancer pool after stake BPT
After stake we wont be able to see that stats, to see stats we can use a software tool called zapper.fi ,We can connect to it with our metamask or similar wallet or with our eth address. Click on explore and balancer to check it
Wallet error: method eth_sendTransaction does not exists/is not available
Some wallets like trustwallet or metamask+ledger or coinbase give some problems when interact with contract web3js on yfv page. Until it is solved, use just metamask
Impermanent losses information (BPT and balancer)
You can learn more about impermanent losses here: https://medium.com/balancer-protocol/calculating-value-impermanent-loss-and-slippage-for-balancer-pools-4371a21f1a86
- * This post is not a financial advise!
- *This post contains some affiliate links
Tips and more!
ETH address: 0x8fd1782A9Bcdad3c4cDc120a0997a31F2C1ce3Bf
Yfv telegram: https://t.me/FinanceYFV
Author Telegram: https://t.me/sugarnightmare