How to Farm on SarosFarm
1. Set up Wallet
At the moment, users can connect Saros using 3 wallet apps: Saros Wallet, Coin98 Wallet and Phantom.
You need to download and set up a Multichain or Solana wallet to use this feature
Kindly refer to this guide on Download and set up wallet
Gas fee and SPL standard
It should be noted that Saros Finance is on the Solana chain, which means that you can only farm tokens in SPL standard.
Saros uses SOL (SPL standard) as transaction fees; therefore, you should prepare SOL before any transaction on Saros.
2. How to use SarosFarm
Access to SarosFarm: https://saros.finance/farm
If you already installed Coin98 Extension, Coin98 Extension will automatically connect to the corresponding Solana Wallet.
On Saros, hover your mouse over Earn section, then choose Farm in dropdown menu
How to farm on SarosFarm
Step 1: Before staking, you must have LP tokens in your wallet. To own LP tokens, you can refer to “How to add liquidity on Saros Finance”
Step 2: On the Active tab, choose your desired pool -> Click Stake. This tutorial will take the C98-USDC LP as an example.
Note: You must read the information carefully before staking:
APR (Annual Percentage Rate): the number of rewards you will receive if farming this LP token in one year. The bigger the number, the more rewards you will receive in the pool.
Notice: Yield farming can give high APYs/ APRs rewards, but it comes with a risk of Impermanent Loss. It is 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.
Earn: The token reward you will earn from farming LP in the pool.
End at block: Once the pool has reached that block, the rewards for that pool will stop being distributed.
Liquidity: Total liquidity currently deposited in the pool.
Step 3: Select the amount of LP Token you want to stake, check the gas fee -> Click Stake Now.
Step 4: Wait a few minutes for the system to process. After processing successfully, the system will display a notification and your staked LP Token will be shown as below.
Note:
The rewards will be real-time updated, you can harvest anytime by clicking “Harvest”
You can stake more LP tokens by clicking the “+” button.
Otherwise, you can unstake by clicking the “-” button.
How to unstake
There will be no lock-up period when you stake in SarosFarm, so you can unstake anytime.
Step 1: Choose the pool you want to unstake. To unstake, click the “-” button.
Step 2: Select the amount of LP Tokens you want to unstake, check the gas fee -> Click Unstake LP Tokens.
Step 3: Wait a few minutes for the system to process. After the unstake process is successful, the amount of Unstaked LP tokens will be recorded in your initial pool.
To remove the LP tokens, you can refer to How to remove liquidity
Note: If you Unstake the LP tokens on the farm, the Rewards will not be automatically harvested, you must harvest them yourself.
Last updated