Search…
Introduction
Decentralised Autonomous Organization (DAO)
Tokenization: GokuMarket Credit (GMC)
✅
How To
Unlike Pools, Yield Farming needs you to stake at least two tokens to get LP Tokens, which you then stake in the Farm to earn rewards. This lets you earn GMC while still keeping a position in your other tokens!
Participating in Yield farming requires "LP Tokens" to enter into a farm with. Farms will only accept their specific LP Token such as, for instance, GMC-BNB Farm will be able to accept only GMC-BNB's LP Tokens. To acquire the exact LP token, you'll have to supply the liquidity required for that trading pair. To get GMC-BNB LP Tokens, first, you'll be required to offer liquidity to the GMC-BNB pairing. It might sound daunting however it's not that difficult.
Providing liquidity to get LP Tokens
Now that you've found a Farm to stake in, you will need to add liquidity to get your LP Tokens. Click on the row of the Farm you've chosen from the list. It will open to show more details. On the left, you'll see some links. Click the Get (your pair) LP link. This will open the Add Liquidity page for your Farm's pair. We have a guide to adding liquidity you can follow to get your LP Tokens.
Putting your LP Tokens into a Farm
Now that you have your LP Tokens, you’re ready to start staking them in a Farm and earning rewards! Putting your LP Tokens into the Farm. Go back to the Farms page and locate your Farm. Click anywhere on the row showing your pair. It will expand to show more details. When you’re ready, click the Enable button and confirm your action in your wallet. After a short wait, the Enable button will change to Stake LP. Click it and a new window will appear. Type the amount of LP Tokens you would like to farm into the field, or just click Max to use all of your LP Tokens. When you have the amount entered, the Confirm button will light up. Click it. Your wallet will ask you to confirm your action. After a short wait, the window will close, and you will see your new staked LP Token balance in the details.
Adding or removing LP Tokens from a Farm
You may decide you would like to add more LP Tokens to a Farm at a later date or take some out of a Farm. You can do this very easily whenever you'd like. Return to the Yield Farms page. At the top of the page, you'll see a Staked only toggle. Click the toggle. You should now only see the pairs you have LP Tokens in on the list, making it easier to find your Farm. Find the Farm you have LP Tokens in, and click the row to view details. You will see a - and + button on the right-hand side. Click - to remove LP Tokens, or + to add more LP Tokens. A window will open that looks like the one you used earlier to first stake your LP Tokens. Like last time, type the amount you would like to unstake/stake or click Max to remove/add all available LP Tokens.
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.
Collecting your farming rewards
Farming will bring you GMC rewards over time. You can collect these rewards and use them to get more LP Tokens, stake them in Pools, use them to play Lottery or anything else you’d like.
Returning to your Farm to Harvest
You can harvest your Farm and Pool rewards together from the Home page. If you'd like to collect your farming rewards only, follow along. To collect your rewards, you’ll need to visit your chosen Farm and collect the GMC waiting for you. Return to the Farms page here. Find the Farm you staked your LP Tokens in, and click the row to view details. You should see an estimate of your rewards under “GMC earned”. Click the Harvest button and confirm the action in your wallet. After a short wait, the GMC will be claimed to your wallet for you to use as you like.
How often should I harvest my rewards?
How often you harvest your rewards is up to you, but it does help to remember that there is a small fee involved in harvesting. You can see this fee in your wallet when confirming after clicking Harvest.
This shows the fee for harvesting as it appears in the MetaMask wallet. Different wallets will show the information a little differently. Consider leaving your rewards to grow for a while so you pay fees less often. And that's all there is to it! You may also want to look at how to use GokuMarket Pools to earn rewards.
Happy farming!
Last modified 1mo ago