Happy to announce the launch of the farming pools along with a collaboration with Increment Finance – SDM Farming on Flow! IncrementFi is a one-stop Defi application that brought a liquidity engine for fungible tokens and yield solutions to the Flow ecosystem.
To spell out the event, we are going to delve into the basis of its mechanics.
Getting down to the idea of farming, we usually consider liquidity mining as a core – i.e. lending SDM tokens to a decentralized IncrementFi exchange for providing liquidity to token pair and earning yield.
The engaged pair will be SDM – USDC provided with a certain amount of USDC for 30 days.
Farming Setup on IncrementFi
Firstly, log in with Blocto Wallet to the IncrementFi platform.
Go to IncrementFi Swap and get a Liquidity Provider (LP) Token by choosing the SDM-USDC currencies pair. Make sure you have sufficient balance both of SDM and USDC.
Then go to IncrementFi Farm and stake token. Just after users stake SDM, the “unstake” button will be activated and they will be able to get their tokens back.
After locking tokens in the liquidity pool, the rewards will be accruing. IncrementFi farming does not imply reward auto-withdrawal. Hence, the user has to claim it on the platform.
According to IncrementFi’s user guide, APR data is reflected by APR from the rewards and APR from trading fees.
Plus, the platform assists in evaluating ROI per 1 day, week, month, and year which is quite handy in calculating farming performance. Nevertheless, developers underline that ROI calculation is based on current APR rates, and by no means represents guaranteed returns.
Farming on the WAX blockchain through DIYFarm
To make the first step towards farming on WAX, buy SDM on Alcor DEX and create Liquidity Pool.
- Go to the website (“Markets” tab);
- choose trading pair WAX/SDM;
- choose limit trade and set all necessary numbers;
- Click “Buy SDM” – a successful transaction will be displayed on Bloks.io account’s contract.
The next step – adding liquidity to the token pool.
- Go to Alcor Swap;
- switch to the “adding liquidity” tab (+ liquidity);
- setup pair of tokens for liquidity pool WAX/SDM;
- provide liquidity.
New liquidity pool info is depicted on the right side of the Alcor Swap page including the perks and pool share.
After the progress with liquidity pools, go to the DIYFarm website and choose Pool 2 to stake WAXSDM. Farming is available for 30 days from start. SDM will accrue every 15 minutes from the beginning of staking. More info on how DIYFarm works get here.
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Thank you for checking out what we’ve been working on, we look forward to seeing you battling out in the Dark Country soon! We hope you are enjoying the game.
Dark Country Team 🧛♂️
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