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Copy file name to clipboardExpand all lines: how-to-guides/how-to-participate-in-a-yvault.md
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### 6. Click “Deposit”
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### 6. Approve and Deposit
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Depositing for the first time requires making two transactions, one approval, and one deposit. Approval is one-time, subsequent deposits can be made in a single transaction. Please ensure there is **ETH in your wallet** to cover the gas cost on Ethereum.
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Click on **25%, 50%, 75% or 100%** to deposit the corresponding proportion of your wallet into the Vault.
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- Approval (first time only)
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- Enter from 0 to 100% of your wallet DAI balance then click "Deposit"
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- Confirm the transaction in your wallet
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- Deposit
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- Enter from 0 to 100% of your wallet DAI balance then click "Deposit"
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- Confirm the transaction in your wallet
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Or click “Deposit All” if you would like to **deposit 100%** of the chosen digital asset from your wallet into the Vault.
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:::info
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Please note before you make a deposit that there is a **0.5% withdrawal fee**. The longer you leave the deposit to earn returns in the Vault, the more likely your returns will exceed the withdrawal fee.
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:::
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**Please note:** Depending on the vault you deposit into, fees may be applied. For more info see the [relevant section in the FAQ](../faq.md#what-are-the-fees).
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### 7. Approve yearn.finance to spend your DAI token (first time only) and then click “Confirm” again to approve the deposit
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You need to pay a **transaction fee in Ether (ETH)** to approve yearn.finance to spend your DAI.
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Make sure there is **enough ETH in your wallet**.
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### 8. Receive your yToken (in this case it would be yDAI)
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### 7. Receive your yToken (in this case it would be yDAI)
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The yDAI you receive is your **share of the DAI Vault**. The amount of yDAI in your wallet will **remain constant** over time but the value of it will increase as the DAI Vault earns returns.
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The amount of yDAI you receive will be less than 1 per DAI you deposited because yDAI is worth more than 1 DAI.
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For example, at block number 10611372 yDAI was equal to 1.044 DAI. Therefore had you deposited 100 DAI, you would have received 95.78 yDAI (100 / 1.044).
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### 9. Track your earnings
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### 8. Track your earnings
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[Yearn Party](https://yearn.party/) shows an approximate running total for how much you have earned in the Vault.
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