Starting Wednesday, September 14th, Ref Finance will launch one of the most impactful liquidity farming programs ever seen on NEAR minutes. The pool holds a huge amount of additional rewards for farmers in the first two weeks!
Anyone can buy SWEAT and NEAR, become a liquidity provider for the pool and earn. By participating, you earn in two ways:
- Your liquidity position generates you income from swap fees
- For the first two weeks, Ref Finance will distribute the following rewards to farmers in this pool: $5.2M SWEAT, $15K NEAR, $20K REF
Liquidity provision is a way of depositing your tokens with a decentralized exchange (DEX) where they are used to provide liquidity to people who wish to exchange tokens. In return, liquidity providers receive returns and premiums.
Don’t worry if you don’t already have the required crypto – you can buy SWEAT (make sure it’s NEP-141) and NEAR on many exchanges.
NOTE: Providing liquidity on DEXs may result in temporary asset losses.
- If you haven’t already, create a NEAR wallet at wallet.near.org, although it’s expected that MyNEARWallet will take over the role of the NEAR web wallet, so it might be wiser to use that service. Alternatively, you can use Sender. Both MyNEARWallet and Sender are available on app.ref.finance WalletSelector.
- Connect a NEAR wallet to app.ref.finance and visit the SWEAT:NEAR pool
- Click ‘Get LP Tokens’ – then click ‘Add Liquidity’ – you need to add enough liquidity to each token so that they ‘balance’ at the spot price when you deploy the liquidity.
4. Click on “Farm in v2” to return to the farm page and then…
5. Click on “Bet” – you can choose how much you want to bet. Below that, you can see your number of LP tokens and the stake you have in the farm – this determines the percentage of the farm’s total income from swaps that you can receive. It may be referred to as “Your Power”, which is simply your wagered LP tokens.
6. An alternative to the above process: Go to Pools in the navigation bar > select SWEAT-NEAR > provide liquidity > then go to Farms (make sure it is v2) > select SWEAT -NEAR > insert LP shares
7. The final screen contains an ROI calculator – it shows you how much SWEAT, NEAR and REF you will get, its value and the percentage ROI (return on investment) it represents.
8. Authorize the transaction in your NEAR wallet!
If you have more questions, please read Ref Finance’s guide to farming. Also contact Ref Finance Telegram.
For the latest news, join us on Twitter, Discord, Telegram, and Reddit.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.