🚜Farms
What is Yield Farming?
Yield farming is a DeFi (Decentralized Finance) practice where users provide liquidity to decentralized exchanges (DEXs) and earn rewards in the form of tokens. These rewards are often distributed to liquidity providers and stakers who contribute to the liquidity pools
How Yield Farming Works on PlantBaseSwap
Choose a Liquidity Pool: To start yield farming on PlantBaseSwap, you need to choose a liquidity pool that aligns with your interests and risk tolerance. These pools typically involve pairs of tokens, and you can contribute assets to them.
Provide Liquidity: Once you've selected a pool, you provide liquidity by depositing an equal value of both tokens in the pair. For example, if you're contributing to the PLANT/ETH pool, you would deposit an equivalent amount of PLANT and ETH.
Earn Rewards: By providing liquidity to a pool, you become eligible to earn rewards. These rewards are usually paid out in PLANT tokens. The more liquidity you provide and the longer you stake your assets, the more PLANT tokens you can earn.
Harvest Rewards: You can periodically "harvest" your earned rewards. This action claims your PLANT tokens and adds them to your wallet. You can choose when to harvest, depending on your preference and the gas fees involved.
Staking: In addition to providing liquidity, you can stake your earned PLANT tokens in staking pools to earn even more rewards. Staking can provide additional benefits and incentives.
Available Farms:
The deposit fees collected from yield farming will be allocated towards a buyback program designed to acquire and subsequently burn PLANT tokens.
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