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Using the dYFI Redeemer

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Approving

Users only need to approve the dYFI Redeemer contract once to participate in dYFI→YFI redemptions. Once the dYFI Redeemer contract is approved users will asynchronously start redeeming YFI for dYFI every time the Redeemer contract is called.
1

Navigate to the YFI tab on Cove.
2

Select Convert YFI to find the dYFI Auto Converter.
3

Toggle the ⚙️ to approve dYFI for conversions. Submit one transaction to approve the dYFI Auto Converter to redeem your dYFI→YFI.
Redemption is permissionless so any user can redeem if they wish to and are periodically processed by keeper bots.

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Revoking

Users can revoke the dYFI Redeemer contract to stop participating in dYFI→YFI redemptions at any time.
1

Navigate to the YFI tab on Cove.
2

Select Convert YFI to find the dYFI Auto Converter.
3

Toggle the ⚙️ to revoke dYFI permissions. Submit a transaction to revoke the dYFI Auto Converter privileges.