GLP Trove Deposit
Please review all protocol documentation and our DISCLAIMERS: RISK OF USING PROTOCOL page before using the Yeti Finance protocol and/or interacting with YETI or the YUSD token.
How is GLP different than other collaterals?
GLP will have a slightly different process for depositing compared to other assets. You will need to first mint the GLP vault token, then you can deposit it into your trove. There is a maximum of $500k GLP to be deposited before collateral gating kicks in. If that limit is hit, this page will be documented with more information on collateral gating.
For other collaterals, your asset is automatically deposited for you. But GLP has a two-step process. The Yeti Vault GLP represents an increasing amount of underlying GLP. The ratio will increase over time based on rewards accrued from GMX. The balance shown on the "Mint GLP" page is the amount of GLP you have. The balance shown on the dashboard/borrow page is your Vault GLP balance. The general flow is: GLP -> Vault GLP -> Trove.
Steps to deposit GLP into your trove:
- 4.Open the mint modal
- 5.Approve and mint Vault GLP
- 6.Approve and Deposit Vault GLP into your trove.