Tutorial: Farming For $FARM (Reading)
Current as of 19 May 2021
The time has finally come! You have been patiently awaiting the time when you can use your $SOIL LP tokens to farm…$FARM! This guide exists to walk you through the process of navigating our site to begin your $FARM-ing adventure. We want to provide you all the resources we can to make sure that your farming experience is as simple and interactive as possible. So grab your tractor and lets hit the $FARM!
This is not intended as financial advice. This is simply a tutorial to assist those that have decided to utilize our farming platform.
All tokens in this guide are from the Florence Testnet and not actual holdings.
To begin, ensure that you have your $SOIL tokens in the $XTZ/$SOIL Quipuswap liquidity pool, as seen in our previous guide located here. You are now ready to head over to our website and farm! Navigate to the site by heading here.
You are now at our $FARM homepage! Feel free to take a look around. The first thing you will want to do is connect your wallet to the site. This allows the site to interface with your wallet and read how many LP tokens you hold, as well as be able to correlate the $FARM tokens you have/earn with your address.
Now that your wallet is connected, you are ready to move on to the FARM page. You can navigate there by clicking on either the “Start Farming” icon or the “Farm” tab at the top of the webpage.
Now that you are at our farming page, lets go over the parts of this page to get you familiar with what you are looking at…
- Staked Balance: The current amount of $SOIL LP tokens you have staked currently on the farming site
- Staked Share: This is your % share of the $SOIL LP tokens you have staking in the farmsoil.xyz pool
- Stakeable Balance: This is the current amount of LP tokens you have available that are not currently staked
- $SOIL LP Unlocks In: This option will count down from 14 days and represents the amount of time your $SOIL LP tokens are locked into the farming contract. This is a one time thing. It never resets if you add more and after 14 days you can add and remove as you please.
- $SOIL LP Available to Unstake: This option will appear after you have staked your $SOIL LP tokens for 14 days. This is the current amount of $SOIL LP you are able to unstake from farming
- $FARM Balance: The total amount of $FARM tokens you hold on this address. *NOTE* This number does not include unclaimed $FARM tokens from farming rewards
- Claimable $FARM: The amount of $FARM token farming rewards you have ready to be “claimed”
- Total $FARM Rewards: Total number of $FARM rewards that will be available through the 16 week farming period
- $FARM Rewards Available: This is the amount of $FARM tokens available in the rewards pool remaining to be earned
- $FARM Circulating Supply: Total number of $FARM tokens currently in circulation
Now that you understand the page layout, lets show you how to use it.
Select how much of the “Stakeable Balance” amount you want to stake to earn $FARM. In our example, we used 100,0000 so we’ll input that number in the “Amount to Stake” text box. Now, click the “Stake” button. This will add those LP tokens in your farming pool for $FARM. You will notice your balance in the stakeable LP tokens area decreases and your staked LP balance increased by the amount you added to be staked.
Now that you have staked your $SOIL LP tokens, you are $FARM-ing! So let’s move on to the $FARM token area to show you the “claim” function. Let’s take the next step and accept those $FARM tokens that you have farmed. Simply press the “claim” icon and this will take all of your farmed $FARM tokens and add them to your “$FARM Balance”.
You have now staked your $SOIL LP, farmed and claimed your $FARM token rewards. Let’s say you decide that you are done farming and want to get your LP tokens back. The last part of this process is to “unstake” your staked $SOIL LP tokens. After this the total number of tokens you “unstaked” will appear in your “Stakeable Balance.” Simply add the number of LP tokens you wish to withdraw from farming and press the “unstake” button. All tokens that are not included in your “staked” amount are back in your wallet. “Unstake” will also “Claim” all remaining $FARM tokens available.
We hope that this tutorial was helpful in understanding how to use our farming platform! The site will be evolving as we add new features in the future, and at that time there will be updates to the site and our tutorials. We want to make sure you have the best resources available to use and benefit from our product. We’ll keep you up to date when we make additions and alterations to any of our services. Happy $FARM-ing!