yyJOE to JOE 1:1 Redemption Now Available Yield Yak have depl | Yield Yak [Announcements]

yyJOE to JOE 1:1 Redemption Now Available

Yield Yak have deployed the redemption contract to manually unwind your yyJOE into JOE at a 1:1 ratio. This means that you can complete your redemption now in a few simple steps by using Snowtrace.

Before you start, if you were in the yyJOE auto-compounding pool on Yield Yak, you will need to withdraw from that pool.

The following steps outline how to get your yyJOE token balance in wei, approve yyJOE, and redeem yyJOE. You will receive JOE tokens at a 1:1 ratio.

Step 1: Get yyJOE Balance (in Wei)

- Head to: https://snowtrace.io/address/0xe7462905B79370389e8180E300F58f63D35B725F#readContract

- Enter your wallet address under Category #6 (balanceOf) and click ‘Query’ to get your yyJOE balance (in wei). Retain this number which you’ll need.

Step 2: Approve yyJOE

- Switch to the Write tab and connect your wallet using the “Connect to Web3” button

- In Category #1, fill out both fields:

Spender: 0xF137c69c12e48c9e556dc56cAaefa387BbBeEfa7

Amount:

- Click on ‘Write’ to initiate transaction.

Step 3: Redeem yyJOE for JOE:

- Head to: https://snowtrace.io/address/0xF137c69c12e48c9e556dc56cAaefa387BbBeEfa7#writeContract

- Connect your wallet again

-Go to Category #2: “Redeem” and for Amount: enter your balance in wei from Step 1

- Click on Write and this transaction will redeem your yyJOE for JOE at a 1:1 ratio.

You have now redeemed your yyJOE for JOE!

Deciding what to do with your fresh JOE?

For all JOE enjoyers, remember that Yield Yak’s sJOE farm auto-compounds USDC rewards for more JOE, with no deposit or withdrawal fees.