diff --git a/SUMMARY.md b/SUMMARY.md index 1f695d91..5be3f662 100644 --- a/SUMMARY.md +++ b/SUMMARY.md @@ -22,6 +22,7 @@ - [Strategies and yVaults available](products/yvaults/v2-yvaults/strategies-and-yvaults-available.md) - [V1 yVaults](products/yvaults/yvaults.md) - [Earn](products/earn.md) +- [Woofy](products/woofy.md) - [Zap](products/zap.md) - [yInsure](products/yinsure.md) - [yGift](products/ygift.md) diff --git a/products/woofy.md b/products/woofy.md new file mode 100644 index 00000000..98df5191 --- /dev/null +++ b/products/woofy.md @@ -0,0 +1,29 @@ +# Woofy Finance + +The WOOFY token is the blue dog companion token of YFI. Utilizing special Woof technology, it allows two-way conversion between the two tokens, allowing holders to be exposed to YFI in a fluffier package. + +At its core, WOOFY solves two problems: YFI not being dog themed, and the price of a single YFI being too high in USD terms. + +**1 YFI = 1,000,000 WOOFY**. YFI and WOOFY can always be exchanged with one another at that fixed rate using either the [WOOFY contract](https://etherscan.io/address/0xd0660cd418a64a1d44e9214ad8e459324d8157f1#code), or the [Woofy website](https://woofy.finance/). + +## How to Woof and Unwoof + +![](https://i.imgur.com/HqfCYZX.png) + +[WOOFY](https://etherscan.io/address/0xd0660cd418a64a1d44e9214ad8e459324d8157f1) can be created ("woofed") by depositing YFI on the [Woofy website](https://woofy.finance/). It can also be redeemed ("unwoofed") for the equivalent amount of YFI at any time. + +#### Converting YFI to WOOFY + +- **Step 1**: Visit https://woofy.finance +- **Step 2**: Click 'Woof' +- **Step 2**: Approve YFI +- **Step 3**: Deposit YFI + +#### Converting WOOFY to YFI + +- **Step 1**: Visit https://woofy.finance +- **Step 2**: Click 'Unwoof' +- **Step 2**: Approve WOOFY +- **Step 3**: Deposit WOOFY + +If it's your first time holding either token after the exchange, make sure to click 'Add Token' above the token's logo so that it will appear in your wallet.