dYFI Redeemer Light

dYFI Redeemer

Boosties offers a special public good mechanism that allows users to claim YFI directly from their dYFI without needing ETH.

The redeemer contract just needs to be approved once for users to earn YFI from their dYFI earnings. Using Yearn’s Redemption contract and by flashloaning ETH, users can more effectively acquire YFI. This process occurs asynchronously and is also gas-free for users not calling the redeemer contract.

When a user calls the redeemer contract it claims dYFI→YFI and sends YFI to all users that have already approved the redeemer contract. Anyone can call this contract as it is permissionless. Any extra ETH that is returned in excess of the minimum amount is sent to the caller to incentivize automation. Users can opt-out of the redemptions by revoking the approved contract from their respective address.

To make things easier for users, redemptions will be processed by keepers periodically.