How to use farm
Last updated
Last updated
Unlike staking, Farms require you to stake two tokens to provide liquidity and receive the LP Tokens. These LP Tokens are then staked in the Farm to earn rewards. This allows you to earn CAB while retaining a position in your other tokens!
Yield farming can offer better rewards than staking, but it carries the risk of Impermanent Loss. It’s not as scary as it sounds, but it is worth learning about the concept before you get started.
Take a look at this informative article about Impermanent Loss from Binance Academy to delve deeper into the topic.
Getting set up to farm
Before farming with LP Tokens, you need to set up your wallet and connect it to CabbageSwap, you also need:
Some ETH for gas fee.
The LP tokens which our farm support: CAB-ETH-LP, CAB-USDC-LP, CAB-USDT-LP
Learn how to get start here
Get LP token (if you don't already own them)
Farms can only accept their own exact LP Tokens, the CAB-ETH Farm will exclusively accept CAB-ETH LP Tokens. Therefore, you'll need to first provide liquidity for the CAB-ETH pair.
Now, you just need to follow this guide to add LP.
How to farm
Unlock your wallet and connect to the app by clicking the "Connect wallet" button.
Find the pool you wish to stake in (ensure you own the LP token for that pool).
You need to enable the contract first, Once a contract for the LP token is enabled, you can stake it by clicking the "Stake LP" button.
A popup will show up, where you can input the desired staking amount and then click the "Confirm" button.
Your wallet will request confirmation for the transaction. To authorize the transaction in your wallet, click "Confirm."
After a brief moment, the window will close, and you will see your updated staked LP Token balance in the details.
Your staked LP tokens are continuously earning you CAB tokens as rewards as well as trading fees every second. You can harvest farming yields any time by click the "Harvest" button.
Whether you intend to stake additional tokens or unstake, simply click on the (+) symbol to stake more and the (-) symbol to unstake.
Make sure your information is correct. When you are ready, click the Confirm button and confirm the action in your wallet.
After a short wait, your new balance will show in the details section of your LP Token pair. If you've unstaked your LP Tokens, any unharvested rewards you had will automatically have been collected
