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Just curious - What exactly do you mean recycle? #3
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It deposits all your DAI, USDC, USDT, TUSD and yCRV into the Yearn.finance yVault (also calld yUSD) in one transaction. Otherwise you would have to:
Both are relatively expensive (read: gas intensive) operations. By batching both, you save time as well as gas. Why it is called a recycler? I am not 100% sure. Maybe because it bundles your scraps (standard stablecoins and yCRV) into something more useful. |
I'm interested in using this. I have 1000 USDC to invest. Are you essentially saying that including permission fee, I could expect to pay a roughly $234 gas price for that 90% yield with gwei prices at 476? |
Yes, current gas prices are making it quite prohibitive. Alternatively, you could add your USDC to the USDC Vault on https://yearn.finance/vaults for ~25% APY. This costs about $30 to deposit at 400 Gwei. Or, swap the USDC to DAI, and enter the DAI Vault on https://yearn.finance/vaults for ~65% APY. The deposit should be quite comparible in tx fee. |
So that is like $0.08 per gwei on Dai vault vs $0.45 per gwei on Y vault? Yields looks similar enough for me to look at Dai option. I wonder if this could be a way to deposit tokenized bitcoin in the future because I know I'll want to do that. |
I am just trying to understand what this does..
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