Deposit funds on YTs
Products > Yield Tranches > Guides > Deposit
Last updated
Products > Yield Tranches > Guides > Deposit
Last updated
This tutorial will guide users in the process of depositing new funds in Idle through the Yield Tranches on the Ethereum mainnet.
The sections Before starting and Connecting to the Idle dApp under the Best Yield strategy can be helpful to have a smooth onboarding in the Idle dApp.
Using Senior Tranches, in case of hacks or losses, users' funds will be covered by the funds deposited in the Junior Tranche.
Using Junior Tranches, in case of hacks or losses, users' funds will be employed first to cover Senior depositors' funds and then shared among Junior users.
Choose the Yield Tranches of preference by selecting Yield Tranches under the Earn section in the top-bar, then select the Senior or Junior pool. There are different assets available (i.e. DAI, USDC, USDT) offering different APYs depending on supply and demand equilibria and the tranches side chosen.
The user should click on the strategy he wishes to deposit.
Insert the number of tokens in the right panel and click on deposit. The smart contract will automatically set the gas limit based on current data.
First-time users will be asked to approve the token spending on the contract before depositing. The spending allowance can be unlimited or exact. Users can then check their spending limits on third-party tools such as Revoke Cash.
Once the approval is confirmed, the user will be able to deposit the approved asset into the YTs of choice. He will now possess IdleCDO_AA/BB tokens for the asset deposited.
By visiting the Dashboard page, the user will be able to see an overview and the performance of his deposit/s.
Please note that the gas limit should not be decreased to ensure that the transaction does not fail and it's executed promptly.
Need further help? Check further our guides list or get in contact on Discord.
