Just curious - What exactly do you mean recycle?

[ratacat]

I am just trying to understand what this does..

[Deepcryptodive]

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:

1. Deposit DAI (or other stablecoins) into the Curve.fi y pool here, which gives you yCRV tokens.
2. Deposit the yCRV tokens into the yUSD Vault here

Both are relatively expensive (read: gas intensive) operations. By batching both, you save time as well as gas.
Still, it remains a rather expensive operation: ca. $0.45 per Gwei, or $45 at 100 Gwei.

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.

[pyramid2017]

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?

[Deepcryptodive]

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.

[pyramid2017]

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.