In the fullest version of the legend, King Gradlon builds the city of Ys at the request of his daughter Dahut, who loves the sea more than the land — a beautiful city of marble palaces and gold, kept dry only by great dikes and a bronze floodgate whose golden key Gradlon wears on a chain around his neck, never removing it. Dahut, wilful and drawn to pleasure, takes a series of lovers each night, and in some tellings murders each of them by morning, casting their bodies into a cove still known locally as Poul Dahut — "Dahut's hole."
The city's downfall comes when Dahut is seduced — by a mysterious lover who is, depending on the telling, the devil himself — and persuaded to steal the key from her sleeping father's neck. She opens the gate herself, or gives the key to her lover to open it, and the sea pours in. Gradlon, warned by the monk-saint Guénolé, flees on his magical horse Morvarc'h with Dahut riding behind him — until Guénolé commands him to cast his daughter into the waves to lighten the horse's load and save himself. Gradlon does so, and Ys is lost forever.