How to Use Farms
Last updated
Last updated
High income in the farm is a good way to get CONE rewards on CoinOneSwap.
Unlike the pool, the farm requires you to pledge two tokens to get LP tokens, and then you stake them in the farm to get rewards. This allows you to earn CONE while still having a place in your other tokens!
It's as scary as it sounds, but it's worth understanding the concept before starting. Check out this wonderful article on impermanent loss by Binance Academy for more information.
Yield agriculture needs some work to be established.
You will need some "LP tokens" to enter the farm. Farms can only accept their own exact LP Token; for example, CONE-BNB Farm will only accept CONE-BNB LP tokens.
To obtain the exact LP token, you need to provide liquidity for the trading pair. Therefore, to obtain CONE-BNB LP tokens, you must first provide liquidity for the CONE-BNB pair.
This may sound daunting, but it is not too complicated. Let's take it step by step.
Before continuing, you need to choose a farm that suits you. Visit the farm page and you will see a list of available farms.
CONE-BNB and BUSD-BNB are fixed at the top of the list and are sorted by default. After the popular farms are fixed, other farms will be displayed in the order of the new farms.
If you want, you can choose other sorting options, such as sorting the farms with the highest current reward rate by APR (annualized rate of return).
When you find the farm you want to use, please write down the trading pair, such as BNB-CONE, in case you need it later.
Now that you have found a farm where you can buy shares, you will need to increase liquidity to get your LP tokens.
1.Click on the farm row you selected from the list. It will open to display more detailed information.
2.On the left, you will see some links. Click the Get (your pairing) LP link.
This will open the Add Liquidity page for your farm pair. We have a guide to increase liquidity that you can follow to get your LP tokens.
Put your LP tokens into the farm
Now that you have LP tokens, you can start putting them on the farm and earn rewards!
Put your LP tokens into the farm
1.Go back to the farm page and find your farm. Click anywhere on the line that shows your pairing. It will expand to show more details。
When you are ready, click the enable button and confirm your actions in the wallet.
2.After a while, the enable button will change to Stake LP. Click it and a new window will appear.
Enter the number of LP tokens you want to cultivate in the field, or just click Max to use all your LP tokens.
3.After entering the amount, the confirmation button will light up. click it. Your wallet will ask you to confirm your actions。
4.After a while, the window will close and you will see your newly mortgaged LP Token balance in the detailed information.
You can decide to add more LP tokens to the farm in the future, or withdraw some from the farm. You can easily do this at any time.
1.Return to the yield farm page. At the top of the page, you will see a mortgage-only switch. Click to switch。
You should now only see the pairings where you have LP tokens in the list, making it easier to find your farm。
2.Locate the farm where you own LP tokens and click on the row to view the details. You will see a-and + buttons on the right. Click-to delete LP tokens, or click + to add more LP tokens。
3.A window will open that looks like the window you used to stake your LP tokens for the first time. Like last time, enter the amount you want to cancel the mortgage/mortgage, or click Max to delete/add all available LP tokens。
4.Make sure your information is correct. When you are ready, click the "Confirm" button and confirm the operation in your wallet.
5.After a while, your new balance will be displayed in the details section of your LP token pair. If you have cancelled your LP tokens, any unreceived rewards you have will automatically be collected。
Over time, agriculture will bring you CONE rewards. You can collect these rewards and use them to get more LP tokens, put them in the pool, use them to play lottery, or anything else you want.
You can harvest farm and pool rewards together from the homepage. If you just want to collect agricultural rewards, please continue.
To receive the reward, you need to visit the farm of your choice and receive the CONE waiting for you。
1.Return to the farm page here
2.Find the farm where you pledged your LP tokens and click on the row to view the details. You should see an estimate of your reward under "CONE Earned".
3.Click the "Harvest" button and confirm the operation in your wallet. After a while, CONE will be put into your wallet for you to use at will.
How often you receive a reward is up to you, but it really helps to remember that you will charge a small fee when you harvest.
When you confirm after clicking Harvest, you can see this fee in your wallet.
This shows the harvesting fees that appear in the MetaMask wallet. Different wallets will display information in different ways. Consider allowing your rewards to grow for a period of time so that you can reduce your payment fees.
this is all! You may also want to learn how to use CoinOneSwap Pools to get rewards.
Happy farming!
