How to Use WigoFarm
Stake Wigo-LP tokens to earn.
Using the farms on WigoSwap is an amazing opportunity to earn WIGO. The way WigoFarm work is different from that of WigoBank. While in WigoBank users need to stake a single asset to benefit from the rewards, in WigoFarm they have to provide the Wigo-LP tokens received by staking a pair of tokens in the liquidity pools. This way, users are able to earn WIGO without the need to disrupt their other positions.
Setting foot on a farm requires some LP tokens. WigoFarm operates in a way that they only accept the Wigo-LP tokens that exactly match the specific farm. For instance, WIGO-FTM farm only approve WIGO-FTM LP tokens. The Wigo-LP tokens could be obtained by adding liquidity to the pool related to a specific pair of tokens. For the sake of clarity, a step-to-step guide is provided:
First and foremost, you need to select the farm that fulfills your desire. You can see a list of available farms here. You can sort the farms based on APR, Multiplier, etc. When the first step, namely finding the desired farm, is done you can proceed to the next step.
In order to acquire Wigo-LP tokens, you need to provide the token pairs with liquidity.
1. Select the specific farm from the list.
2. Among the connected links you can select “Get (e.g. FTM-WIGO) LP”.
A comprehensive guide to adding liquidity and getting Wigo-LP tokens can be found here:
Staking the Wigo-LP tokens into their related farms leads to earning rewards;
2. After a while the Stake button will activate. Click on it.
3. You can determine the amount of Wigo-LP tokens you want to use in the farm by entering the amount manually, or by clicking the balance amount to add all of your Wigo-LP Tokens.
4. The above operation also have to be confirmed in your connected wallet.
5. Finally you can view the total amount of Wigo-LP Tokens you have staked into a farm.
Whenever you decide to add more Wigo-LP Tokens to a farm or remove some from a specific farm, you are able to do so by following some simple steps:
2. Once you’ve found the farm involving your Wigo-LP tokens, use the + and - buttons to add/remove Wigo-LP tokens.
3. Then you have to go through a process similar to the one by which you staked your Wigo-LP tokens. Enter the amount of the Wigo-LP Tokens you want to stake/unstake, or use the balance amount to enter the entire amount you hold.
4. double-check the details of the action and confirm the operation in your wallet.
5. Finally, you are able to view the new amount of Wigo-LP tokens you hold for a certain pair. In case you’ve decided to unstake your Wigo-LP tokens, the rewards have been added to your balance automatically.
By participating in the farming process, you obtain WIGO as the reward. WIGOs can be used to earn more Wigo-LP Tokens, stake in WigoBank, etc. Claiming the rewards earned through the process of farming is possible by following the mentioned steps:
2. From the list, select the farm that contains you Wigo-LP Tokens. The amount of WIGO you’ve earned through the process of farming is there for you to see.
3. Click on the Harvest button and confirm the operation in your wallet. You can see the WIGO balance updated in your wallet after a short time.
The frequency of harvesting the rewards is a personal matter. However, you should keep in mind that the process of harvesting the rewards include a small amount of fee. The fee involved in the process is shown in your wallet when harvesting the rewards. It is worth noting that the way wallets illustrate the aforementioned fee might be slightly different. All in all, it’s a good idea to let your rewards grow before harvesting them so that you pay fees less frequently.