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yUSD refers to the yVault for automating yield-earning with one’s Curve Y Pool LP. We’ve covered previously how one might deposit stablecoins into the Curve Y Pool, and then go to yearn.finance/vaults to deposit the LP token to further compound earnings. However, in the last month, Zapper released Zaps for transforming stablecoins or ETH into the Y Curve yVault, which is how we arrive today with the most cost effective way yet to gain yUSD exposure! Zapper just released a new DEX aggregator, which allows you to source trades from Uniswap and Balancer.
DeFi Dad shows us a hack to save about 75% on fees getting into yUSD (the yVault for the Y Curve LP token) vs paying huge fees to Curve and yearn.finance to enter this opportunity.
DeFi Dad walks us through the following:
1️⃣ Background on yUSD
2️⃣ How to save on fees swapping to yUSD with Zapper Exchange
3️⃣ Recap of risks
Helpful resources referenced in the video:
🛠️ Try Zapper Exchange to swap to yUSD: https://zapper.fi/exchange
🛠️ Here’s the ETH-yUSD Uniswap pool with about $5M in liquidity that enabled DeFi Dad to save with this hack: https://uniswap.info/pair/0x9346c20186d1794101b8517177a1b15c49c9ff9b
🛠️ Find recommended gas prices at: https://etherscan.io/gastracker
🛠️ Join the Zapper Discord to learn more about DeFi here: https://discord.gg/vG2gnwt
For more Bankless video tutorials, check out: https://www.youtube.com/playlist?list=PLmkdAgtxf3aiduauYPPqUWqpMmAXm2vt5
Video by: @DeFi_Dad
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For more DeFi Tutorials with DeFi Dad, subscribe to his YouTube channel at http://defidad.com/.
Disclosure, Disclaimer, & Risks: DeFi Dad is a member of the Zapper team. This is not financial advice and you should approach all DeFi applications, wallets, and protocols with caution. Please be aware there is always risk in using DeFi, including technical risks (ie smart contracts hacks), financial risks (ie liquidity crises), potentially admin risk (admin key compromise, governance vulnerabilities) and the risk of a pegged asset like a stablecoin failing. It is also risky to use leverage because you can amplify your losses with larger positions.
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