Deposit funds on Ethereum
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This tutorial will guide you in the process of depositing new funds in Idle through Best Yield strategy on Ethreum mainnet.
To ensure yourself a smooth onboarding on Idle be sure to have the following items ready:
- A supported Ethereum wallet (Metamask, Coinbase wallet, Portis, Fortmatic, Authereum);
- Tokenized assets (DAI, USDC, USDT, SUSD, TUSD, WETH, WBTC, RAI);
- Ether (ETH) to cover network fees (i.e. gas).
- 1.From the idle.finance homepage click on "Go To Dashboard".
- 2.Click "Connect", choose ‘Ethereum Wallet’, then select your supported wallet type from the list. In this guide, we will use the Metamask browser wallet.
- 1.If you have multiple addresses in your wallet, select the one you are planning on using to make a deposit and click "Next" and "Connect".
- 3.If the connection is successful, in the top left corner you will see the connected wallet, as well your $IDLE balance (this will be shown as zero for new users).
- 1.Choose the "Best Yield" strategy in the sidebar on the left-hand side (you can learn more about Idle strategies by visiting each Product page, Best Yield and Perpetual Yield Tranches). Here, we will use the Best-Yield strategy. There are different assets available (DAI, USDC, USDT) offering different APYs depending on supply and demand equilibria.
- 2.Click "Deposit" next to the asset you wish to deposit.
- 1.If you do not currently possess any of the respective assets you will be given the option to purchase them via the built-in on-ramps or conversion partners.
- 3.Click "Approve", then "Confirm" the transaction in your wallet to approve your fund deposit. You can click on "Edit" to increase the gas price if the network is busy (visit https://www.blocknative.com/gas-estimator for current rates) and speed up the transaction completion.
- 4.Once the approval is confirmed, you are now able to deposit your approved asset into the Idle Strategy of choice. You will now possess IdleYield or IdleRisk tokens for the asset you deposited depending on the strategy you chose. By clicking on your wallet, you can see your current portfolio assets and $IDLE balance.