Farming
Another exciting way to earn tokens on BitDealz Exchange!
In the BitDealz Exchange, farming enables users to earn tokens for free and support the platform by staking LP tokens.
Note - It is suggested to learn about Farming before starting to Farm
How to Calculate Farm APR?
APR of Farming is calculated based on the following formula.
LP Rewards APR - Receive while supporting liquidity.
Farm Base Rewards APR - Received while staking LP tokens in Farm.
When you stake LP tokens, you provide liquidity to the pool, and LP rewards are given.
Total Farm APR = Farm Base APR + LP Rewards APR
Farm Base APR = Total amount of BCoin distributed to the Farm
LP Rewards APR are calculated based on the below steps
For instance, let's consider the following values
Liquidity: $387.42M
Volume 24H: $96.97M
Volume 7D: 709.73M
Fee share of liquidity providers in the pool (based on 24h trading volume) = 24h * 0.17/100
Yearly Fees earned by the pool (Projection) = Fee share * 365
LP Rewards APR % = (Yearly fee/ Total Liquidity) * 100
How Does Farm Work?
In the BitDealz Exchange, Farming is the best way to earn BCoin rewards. In Farms, the user should stake two tokens to provide liquidity for which they receive LP tokens. Deposit LP tokens into the Farm to earn rewards like BCoin.
A liquidity position is required to enter the Farm. Note that Farm accepts liquidity positions from its own and exact trading pair with the same fee tier of choice.
For instance, BCoin-BNB 0.30% Farm accepts only BCoin-BNB liquidity positions with a 0.30% fee tier selected.
To create an exact LP position, provide an exact trading pair with the same fee rate selected. For instance, for BCoin-BNB 0.30% LP Positions, provide liquidity for the BCoin-BNB pair with the 0.30% fee tier.
Step-by-step to enter the Farm
1. Locate the right Farm, based on APR and reward rates, and note the trading pair (BCoin-BNB) & fees rate(0.30%).
APRs are calculated globally for each position and may vary based on price rate settings
2. Provide Liquidity to the Farm, to get LP tokens. On the selected Farm section, click the Get LP (Your Pair) link.
3. Add liquidity to the Farm and earn rewards. For this, click the Farms section and locate your Farm. Click on its row and select Enable.
4. Then, click the Stake LP button.
5. A pop-up will appear, where the amount of LP tokens to be deposited into the Farm should be entered, or click Max to stake all LP tokens. Next, click Confirm, and the wallet requests you to confirm the action.
How to add Liquidity to the Farm?
To add Liquidity to the Farm, go to the Farm page. Click the Staked only toggle. Now, the pairs with LP tokens appear on the screen.
Image Showing Farm Page
Select the Farm where you’ve staked LP tokens and click its row.
A pop-up will appear where the amount of LP tokens to be deposited into the Farm should be entered or click Max to add all LP tokens. Next, click Confirm, and the wallet requests you to confirm the action.
After a short time, a window shows the new LP token's balance details. Note if you prefer to unstake tokens, any unharvested rewards are collected automatically.
How to Collect Farm Rewards?
Harvest or collect the Farm rewards from the Farm page. To do this, click on the Farm page, visit the chosen Farm, and collect BCoin.
Next, go to the Farm page, locate the Farm where you’ve staked LP tokens, and click its row. The estimation of total rewards will be shown under the BCoin Earned tab.
Now, click the Harvest button, and the wallet requests you to confirm the action. Then, the BCoin is sent to the wallet.
Note there is a small fee for harvesting which is shown when the wallet requests you to confirm the action.
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