Yield Farming
When you access the 0xFi Dashboard, you'll encounter a dedicated section for Yield Farming that you can enable through the provided filter.
This filter serves as a gateway to explore various integrated opportunities for profit, primarily through providing liquidity on decentralized exchanges (DEXs) and receiving rewards in the form of LP tokens, which you can subsequently use for yield farming.
The yield farming pools listed typically consist of pairs comprising a native token and its corresponding Liquid Staking token. Rewards are typically distributed in the LP token native to the respective DEX, such as CAKE on PancakeSwap.
Here are the steps for key actions in yield farming:
1. Deposit Liquidity:
Click the "Deposit" option next to the pool of your choice.
Upon redirection to the DEX, connect your wallet.
If there are multiple pools listed, select the desired pool.
Enter the quantity of tokens you wish to contribute.
Complete the deposit by following the provided instructions, usually via a "Deposit" or "Add Liquidity" button.
2. Withdraw Liquidity:
Access the pool page.
Navigate to the "Withdraw" tab.
Input the quantity of tokens you intend to withdraw.
Execute the withdrawal process, typically through a "Withdraw" or "Remove Liquidity" button.
3. Yield Farm:
Visit the pool page.
Claim your rewards, which are the liquid pool tokens earned for supplying liquidity to the pool. This can typically be done through a dedicated "Rewards" tab.
Stake your LP tokens to start earning yield. This can often be accomplished via the "Stake" button found on a designated "Stake LP" tab or the "Deposit & Stake" button on the main pool page.
4. Withdraw Yield-Farming Rewards:
Go to the pool page.
Initiate the withdrawal of your LP tokens, along with the accrued yield gains. This is generally done through a "Withdraw" button, either on a dedicated "Stake LP" tab or the main pool page's "Withdraw" button.
Last updated