🌻Farming

The key to realizing your financial goals. Unlock financial growth through crypto farming. Plant your seeds and watch your crypto grow!

Introduction to the Concept

For a decentralized exchange (DEX) like SmarDex to function efficiently, it relies on the lending of tokens by its users. These tokens facilitate transactions between different participants. Liquidity providers, by fueling the with their paired tokens, are at the heart of this system. In recognition of their vital contribution, SmarDex rewards these contributors with (also called LP tokens), distributed proportionally to their contribution in the . These tokens not only entitle them to a portion of the fees generated from transactions within this but also offer additional rewards through farming.

The Importance of Liquidity

The liquidity of a is paramount for ensuring seamless trades, contributing to the smooth operation of the platform, which is crucial for an optimal user experience and market efficiency. To stimulate this essential liquidity, SmarDex launches Farming Campaigns to reward liquidity providers. They simply need to stake their in the corresponding farming pool to receive attractive rewards.

The Farming Process Explained

Imagine that you invest $3,000 in the ETH-WBTC on SmarDex, which has a total liquidity of $100,000. Your contribution thus represents 3% of the total liquidity of this , and you accordingly receive 3% of the corresponding LP tokens. To benefit from the rewards of the Farming Campaign, you need to go to the "Farming" section on SmarDex.io and stake your in the corresponding farming pool. By doing this, you activate your right to collect the yields promised by the active farming campaign.

How to use SmarDex protocol Farms

1. Navigate Farming Tab

Farming page

2. Connect your web3 wallet (ex. Metamask, Coinbase Wallet, etc.)

Click on 'Connect Wallet'
Select your wallet from the list and connect it

3. Make sure you're on the chain you want to use

You can change chain by clicking here, in this example we are connected to polygon

4. Select the Farm associated with the token pair you've added to the Volatility Vault

Click on the corresponding farming pool
Ready to stake LP tokens

5. Start to stake your LP token

Click on 'Stake LP'
Choose the amount of LP token you want to farm

6. Approve the LP token smart contract to interact with your wallet

Approve LP token to interact with your wallet
Set the authorized spending limit for the smart contract and click 'Next'
Approve it on your wallet

7. Confirm the farming of your LP tokens

Click on 'Confirm'
Confirm in your wallet
Your LP tokens have been successfully staked in the Farming Pool! You can verify it by checking the staked amount (here 65.02 usdc.e and 3176.48 SDEX, all worthing ~ 143$ at this time)

You can then easily harvest your rewards, unstake, or stake more LP tokens as desired

Manage your stakes

Last updated