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Yield Farming is the process of using DeFi protocols to generate interest on your cryptocurrency assets. There are various forms of yield farming, such as providing liquidity, staking or lending and each option comes with different user considerations before participating. For the purposes of this page, we will focus on yield farming via providing liquidity.
- Yield farming can be a lucrative way to earn extra rewards, such as trading fees or tokens
- Improve your assets capital efficiency by utilizing idle tokens sitting in your wallet
- By yield farming you are also supporting the DeFi ecosystem you are participating in
- Connect and confirm your wallet
- Locate the farm you wish to deposit your LP
- You are now viewing the 'Farm' page
- This contains the Farm details including Liquidity, Pool APR, NETT APR, and bonus APR
- If you don’t have LP tokens yet, select 'Get xxx - xxx NLP'
- This will take you to the token-pair’s liquidity pool eg (Metis+NETT)
- Once you have supplied tokens into the pool and received your LP tokens, return to the farm
- On the middle section of expanded panel, enter the amount of LP tokens you wish to stake
- Press Approve or Stake (or both) and confirm the transaction in your wallet
- Congratulations, you are now earning Farm rewards!
- You can harvest farm rewards at anytime
- Simply press the Harvest button and any pending rewards will be added to your wallet.
- Any bonus rewards accrued, will be held in the smart contract waiting for you to harvest
- LP APR: Fees collected by liquidity pools, paid on top of your position when you withdraw
- NETT APR: NETT Tokens that can be collected by pressing harvest
- Bonus APR: Bonus reward tokens that can also be claimed by pressing harvest