🧑🌾Harvest Farms
Introducing Harvest Farms
Harvest Farms is a yield farming mechanism. Analogous to a traditional bank deposit, it allows a user to receive rewards for providing liquidity to ENEX.SPACE DEX via Pools for a given period of time. The rationale behind Harvest Farms is to have users keep their liquidity in pools, thus enabling trading on the DeFi platform.
A user can stake in a farm for a preset duration (determined in blocks) the liquidity provider tokens received after staking tokens in a Pool. Rewards are paid out in tokens set by Farm creator.
| Object | Description |
|---|---|
Stake-Earn | Staked liquidity provider token (LP_TKN) and reward token |
Status | Amount of blocks remaining until the farm's expiration |
Earned | Amount of tokens earned |
APY | Annual percentage yield, i.e. the compounded return per year in percentage points |
Liquidity | TO BE EXPLAINED It is the manner in which assets are converted to cash quickly and efficiently, avoiding drastic price swings |
Reward Per Block | Reward to be received for a block |
Details | Information about your staking and earnings |
There is a function called "status" in the window. Active paused and finished statuses will be shown there. You can also choose to show all statuses.
How To Use Farms
Setting Up a Farm
(**to be added? parameters in addition to the farm's time to live in blocks and the award fund to be distributed? **)
Providing Liquidity to get LP Tokens
To get started with Harvest Farms, you need LP tokens. Refer to Pools for details on adding liquidity and obtaining LP tokens.
Putting your LP Tokens into the Farm
To add LP tokens to the farm, click Stake LP_TKN button. The following window appears:
Type in the amount of LP Tokens you would like to farm or just click MAX to use all of your LP Tokens. When you have entered the amount, the Confirm button lights up. Click Confirm. Your wallet will request the confirmation of your action.
After a while, the window closes, and you will see your new staked LP Token balance in the Details section.
Adding or removing LP Tokens from a Farm
You can add more LP Tokens to an existing Farm or to remove some tokens out of a Farm at any moment.
To do this, use - and + buttons below your tokens. Click - to remove LP Tokens from the Farm, or + to add more LP Tokens.
The window that opens looks like the one used to stake LP tokens into the Farm for the first time. Type in the LP token amount you want to add to or remove from the farm or click MAX to add or remove all available LP Tokens.
Check that your information is correct. When you are ready, click Confirm button and confirm the action in your wallet.
After the confirmation, your new balance will show up in the Details section of your LP Token pair.
Collecting your farming rewards
Farming will bring you rewards over time. You can collect these rewards and use them to get more LP Tokens, stake them in Pools, or for anything else.
Click Harvest and confirm the action in your wallet. The reward tokens will be transferred to your wallet for you to use as you like.
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