Energiswap Yield Farming Quick Start Guide
Energi Yield Farming on Energiswap allows Liquidity Providers (LP token holders) to earn passive income, in the form of NRG tokens, by staking their liquidity position (LP tokens).
This is a quick start guide, aimed at experienced DeFi users. If you need detailed instructions on how to Yield Farm using Energiswap, kindly refer to our detailed guide at:
NOTE: While staking LP tokens through Energi Yield Farming provides passive earnings like Staking and Masternodes, one should always consider the risk of Impermanent Loss when providing liquidity to automated market makers (AMM) platforms like Energiswap.
1. Prerequisites
Please, connect your wallet service to the Energi network just as you would for Energiswap. Currently, we only support MetaMask. You can find more information about installing and using MetaMask, as well as the required network parameters, in the following guide:
You also need LP tokens associated with the specific token pair you wish to farm. For example, you must hold NRG-ETH LP tokens to stake them in the NRG-ETH liquidity pool. For more information on how to provide liquidity to a token pair, please use the following guide:
Be aware that you need to have NRG tokens apart from those allocated on your LP token pool to pay for transaction fees associated with depositing and harvesting in the desired Farm(s).
2. Staking LP Tokens
2.1. Access Energi Yield Farming and click Deposit on the Farm where you wish to stake.
2.2. Now, you will have the option to add liquidity to the pool of your choice. Click on Add XXX-YYY Liquidity ( XXX and YYY are represented by the token pair associated with the liquidity pool).
2.3. Click on Deposit at the bottom of the page. A new window will open where you will have to input the amount of LP tokens you wish to stake. Once you are done, click Deposit. A MetaMask confirmation screen will pop up. Here, you can verify the transaction and click on Confirm if you agree.
2.4. Once the transaction is confirmed, you will be taken back to the selected Farm Status page. Here, you will see the amount of LP tokens you have staked and the amount of NRG rewards earned. You should also see the option to withdraw your staked tokens at any time you wish. Please keep in mind that you will automatically claim any unclaimed NRG rewards by withdrawing your staked LP tokens.
3. Managing Rewards and Staked LP Tokens
3.1. Access Energi Yield Farming and click on Manage on the Farm where you have staked your LP tokens. You can use the “Show Only My Pools” feature to filter out the farms where you have staked your LP tokens.
3.2. On the Farm Status page, you will have the option to claim any unclaimed NRG rewards. All you need to do is click Claim. You can also completely withdraw your staked LP tokens by clicking on the Withdraw at the bottom of the page. Please keep in mind that you will automatically claim any unclaimed NRG rewards by withdrawing your staked LP tokens.