Redeem YLA
You can redeem YLA via PowerIndex in two ways. Instant with high gas costs and slow, but with low gas expenses.
With ZAP, user's transactions batch together and fees are paid out of the protocol treasury. To do so, ZAP transactions are triggered every 24 hours or every 500k YLA are deposited into the ZAP contract.
Approve your tokens and confirm transaction.
- Approve: Approve spend for a limited amount of USDC.
- Infinity Approve: Approve spend for USDC token as a whole. Preferred option if you plan to mint more USDC later.
After the Approve transaction is confirmed, the Redeem button will light up, press it and confirm the transaction to proceed.
After the redeem transaction went through, you will see the countdown until distribution (estimated time until USDC will be deposited into your wallet).
⚠️ Release deposited USDC will cancel your redeem transaction.
When everything is done, status will be changed to Success and you will see USDC in your wallet.
First, visit this page and chose ERC20 tab.
Approve your tokens and confirm transaction.
- Approve: Approve spend for a limited amount of USDC.
- Infinity Approve: Approve spend for USDC token as a whole. Preferred option if you plan to mint more USDC later.
After the Approve transaction is confirmed, the Redeem button will light up, press it and confirm the transaction to proceed.
⚠️ Note: This transaction requires substantial gas expenses, as several staking transactions are executed in the backend on your behalf. In our case, the final transaction cost was above $400.
You need to check the box to agree or consider using ZAP function to save on fees.
Shortly after you press Redeem and confirm your transaction, USDC will be displayed in your wallet.
Last modified 2yr ago