How to Use Farms
Yield Farming on FusionX is easy!
Last updated
Yield Farming on FusionX is easy!
Last updated
Yield farming on FusionX is a straightforward way to earn FSX rewards. By providing liquidity to a specific trading pair, you can earn rewards while keeping your position in other tokens. Here’s a step-by-step guide to help you get started.
Farms allow you to stake two tokens to provide liquidity, creating either an LP token or an NFT representing your liquidity position. You’ll then stake this in the Farm to start earning FSX rewards.
Yield farming can give better rewards, but it comes with a risk of Impermanent Loss. It’s not as scary as it sounds, but it is worth learning about the concept before you get started.
Check out this great article about Impermanent Loss from Binance Academy to learn more.
You’re going to need a liquidity position to enter into a Farm with. Farms can only accept liquidity positions from their own exact trading pair with the exact fee tier of choice; for example, the WMNT-USDT 0.05% Farm will only accept WMNT-USDT liquidity positions with the 0.05% fee tier selected. It will not accept:
Other pairs, like FSX-USDC
Same pair but with other fee tiers: like WMNT-USDT with a 0.25% fee rate
To create the exact LP position, you'll need to provide liquidity for that trading pair with the correct fee rate selected. So to get WMNT-USDT 0.05% LP positions, you'll first have to provide liquidity for the WMNT-USDT pair with the 0.05% fee tier selected.
It may sound intimidating, but it's not too complicated. Let's go through it step by step.
Before you proceed, you'll want to choose a Farm that's right for you. Visit the Farms page to see a list of available Farms.
You can choose another sorting option, such as by APR, for the Farms with the highest reward rate currently. Please note that the APRs are calculated globally for individual positions; it may vary depending on their price range settings.
When you find a Farm you'd like to use, note down the trading pair and its fee rate, e.g. WMNT-USDT and 0.05%, in case you need them later.
Now that you've found a Farm to stake in, you will need to provide liquidity:
1 - If you don’t have any position available, you will see a “Add Liquidity” button, simply click it to open up the “Add Liquidity” window without leaving the Farm page.
2 - Alternatively, you can click on the row of the Farm you've chosen from the list. It will open to show more details. Or with card view, click “Details” to expand for more details. Click the “Add XXX-YYY LP” link within the detail section to add liquidity.
After finishing adding liquidity. You should see your position listed under the farm you want to use.
If you have multiple positions, you may click “View All” to view them in a new pop-up window.
Click “Stake” on the position listed, and your wallet will ask for confirmation.
After a short wait, the window will close, and you will see your staked position in the details.
You can repeat the above steps to quickly stake multiple positions with different price range configurations. Each position will earn FSX and need to be harvested separately.
In Farm V3, you can stake multiple positions on the same farm. Each staked position will earn FSX and need to be harvested separately.
To harvest FSX rewards from a staked position, simply return to the Farm page, and locate the farm and position you want to harvest. You can use the “Staked Only” toggle to quickly filter the farms you are currently staking.
If you have multiple staked positions, you may click “View All” to view them in a new pop-up window.
Click “Harvest” on the position, and your wallet will ask for confirmation. After a short wait, the FSX rewards will be sent to your wallet.
When staking in a farm, you can still add or remove liquidity without unstaking from the farm.
To do so, simply return to the Farm page, and locate the farm and position you want to adjust. You can use the “Staked Only” toggle to quickly filter the farms you are currently staking.
Click on the position title with the token pair, fee rate, position ID and the “>” arrow. You will be taken to the position detail page.
Simply use the “Add” or “Remove” button to adjust the liquidity in the staked position.
Please note that all the unclaimed FSX rewards will be harvested and sent to your wallet while adjusting your position.
You can unstake a position at any time.
To unstake, simply return to the Farm page, and locate the farm and position you want to unstake. You can use the “Staked Only” toggle to quickly filter the farms you are currently staking.
If you have multiple staked positions, you may click “View All” to view them in a new pop-up window.
Click “Unstake” on the position, and your wallet will ask for confirmation. After a short wait, your position NFT will be returned to your wallet, along with all the pending FSX rewards.
Yield farming takes a little work to get set up.
You’re going to need some "LP Tokens" to enter into a Farm with. Farms can only accept their own exact LP Token; for example, the WMNT-USDT Farm will only accept WMNT-USDT LP Tokens.
To get the exact LP Token, you'll need to provide liquidity for that trading pair. So to get WMNT-USDT LP Tokens, you'll first have to provide liquidity for the WMNT-USDT pair.
It may sound intimidating, but it's not too complicated. Let's go through step by step.
Before you proceed, you'll want to choose a Farm that's right for you. Visit the Farms page and you’ll see a list of available Farms.
You can choose another sorting option if you like, such as by APR for the Farms with the highest reward rate currently.
When you find a Farm that you'd like to use, note down the trading pair, e.g. WMNT-USDT in case you need it later.
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.
Now that you have your LP Tokens, you’re ready to start staking them in a Farm and earning rewards!
1 - 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.
2 - After a short wait, the Enable button will change to Stake LP. Click it and a new window will appear.
3 - Type the amount of LP Tokens you would like to farm with into the field, or just click Max to use all of your LP Tokens.
4 - When you have the amount entered, the Confirm button will light up. Click it. Your wallet will ask you to confirm your action.
5 - After a short wait, the window will close, and you will see your new staked LP Token balance in the details.
You may decide you would like to add more LP Tokens to a Farm at a later date, or to 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.
Farming will bring you FSX rewards over time. You can collect these rewards and use them to get more LP Tokens, or anything else you’d like.
You can harvest your Farm 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 FSX waiting for you.
1 - Return to the Farms page here.
2 - 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 “FSX earned”.
3 - Click the Harvest button and confirm the action in your wallet. After a short wait, the FSX will be claimed to your wallet for you to use as you like.
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. Consider leaving your rewards to grow for a while so you pay fees less often.
Happy farming!
