User Documentation

The Yield App is available at

Using the Yield App, you can borrow or lend Dai at a fixed rate for a fixed period of time. You may also use the Yield app to provide liquidity to earn fees from other users looking to borrow and lend.

All borrowing and lending in Yield settles at one of a group of pre-determined maturity dates. Think of these as being similar to USD Treasury maturities. Each maturity date corresponds to a separate fyDAI token. Thus, one fyDAI token with maturity at December 31st 2020 may be converted to one DAI after December 31st 2020. Until then, it may trade freely in the market.

Yield Protocol provides 6 maturity dates, listed below. The number was kept small so as to give enough options for users deciding how long to borrow or lend their Dai, while preserving liquidity in a few concentrated maturities. For each maturity month listed, maturity occurs on the last day of the month at the end of the day.

October 2020
December 2020
March 2021
June 2021
September 2021
December 2021

As a user you may do the following actions using the Yield App:

  • Borrow DAI against your ETH at fixed interest rates, depending on chosen maturity
  • Lend your DAI for fixed yield
  • Provide liquidity to earn liquidity provider fees

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