How do I deposit in a Yield Automation vault?
This visual guide will walk you through every step in depositing and staking funds in a vault.
How to deposit into Ethereum vaults
Open our app by connecting your wallet and click through to the Strategies page. The vaults you are able to deposit into will show when the appropriate assets are in your connected wallet.
2. Choose which vault you want by clicking DEPOSIT
Click the DEPOSIT button to load the deposit module and enter the amount of assets you wish to deposit into the vault.
3. Approve then Deposit and receive xToken
Depositing for the first time requires making two transactions, one approval, and one deposit. Approval is one-time, subsequent deposits can be made in a single transaction. Please ensure there is ETH in your wallet to cover the gas cost on Ethereum.
- Approval (first time only)
- Enter from 1 to 100% of your wallet balance then click DEPOSIT
- Confirm the approval transaction in your wallet
- Deposit
- Enter from 1 to 100% of your wallet balance then click DEPOSIT
- Confirm the deposit in your wallet
The xToken you receive is your share of that asset in the vault. The amount of xToken in your wallet will remain constant over time but the value of it will increase as the vault earns returns.
The amount of xToken you receive will be less than 1 per the amount token you deposited because the xToken is worth less than 1 of that asset.
For example, if at the time of depositing, if the xToken was equal to 1.044 of the asset you deposited and you deposited 100 that asset, you would have received 95.78 xToken (100 / 1.044).
How to deposit into Polygon vaults
The process to deposit into a vault strategy on Polygon is similar to the steps for our vaults on Ethereum. The main difference is you must have your Web3 wallet connected to the Polygon Network and have MATIC tokens to execute transactions on Polygon. For more info on how to setup your Web3 wallet or bridge your assets to Polygon read How do I bridge assets to Polygon?.
Open our app by connecting your wallet and click through to the Strategies page. The vaults you are able to deposit into will show when the appropriate assets are in your connected wallet.
2. Switch networks to the Polygon Network
At the top left of our app there is a button to switch from the Ethereum Mainnet to the Polygon Network.
3. Choose which vault you want by clicking DEPOSIT
Click the DEPOSIT button to load the deposit module and enter the amount of assets you wish to deposit into the vault.
3. Approve then Deposit and receive xToken
Depositing for the first time requires making two transactions, one approval, and one deposit. Approval is one-time, subsequent deposits can be made in a single transaction. Please ensure there is MATIC in your wallet to cover the gas cost on Polygon.
- Approval (first time only)
- Enter from 1 to 100% of your wallet balance then click DEPOSIT
- Confirm the approval transaction in your wallet
- Deposit
- Enter from 1 to 100% of your wallet balance then click DEPOSIT
- Confirm the deposit in your wallet
The xToken you receive is your share of that asset in the vault. The amount of xToken in your wallet will remain constant over time but the value of it will increase as the vault earns returns.
The amount of xToken you receive will be less than 1 per the amount token you deposited because the xToken is worth less than 1 of that asset.
For example, if at the time of depositing, if the xToken was equal to 1.044 of the asset you deposited and you deposited 100 that asset, you would have received 95.78 xToken (100 / 1.044).
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Contents
How to deposit into Ethereum vaults
1. Navigate to https://forcedao.com and connect your wallet to our app
2. Choose which vault you want by clicking DEPOSIT
3. Approve then Deposit and receive xToken
How to deposit into Polygon vaults
1. Navigate to https://forcedao.com and connect your wallet to our app
2. Switch networks to the Polygon Network
3. Choose which vault you want by clicking DEPOSIT
3. Approve then Deposit and receive xToken