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, or the Woofy website.
WOOFY can be created ("woofed") by depositing YFI on the Woofy website. It can also be redeemed ("unwoofed") for the equivalent amount of YFI at any time.
- Step 1: Visit https://woofy.finance
- Step 2: Select 'Woof' above the swap interface
- Step 3: Enter the amount of YFI you would like to convert
- Step 4: Approve the YFI
- Step 5: Click 'Woof' below the swap interface
- Step 1: Visit https://woofy.finance
- Step 2: Select 'Unwoof' above the swap interface
- Step 3: Enter the amount of WOOFY you would like to convert
- Step 4: Click 'Unwoof' below the swap interface
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.