Yield Farming in Farms is a great way to earn CNT rewards on PolyDEX.
Farms require you to add liquidity of two tokens to get respective LP Tokens, which you then stake in the Farm to earn rewards. This lets you earn CNT while still keeping a position in your other tokens!
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.
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 CNT-MATIC Farm will only accept CNT-MATIC LP Tokens.
To get the exact LP Token, you'll need to provide liquidity for that trading pair. So to get CNT-MATIC LP Tokens, you'll first have to provide liquidity for the CNT-MATIC pair.
It may sound intimidating, but it's not too complicated. Let's go through step by step.
Additionally, we have a migration tool in place. If you are already a liquidity provider for CNT-MATIC pair and farming on Cryption Hybrid Staking, you just need to click a button which says withdraw + migrate. More details are in Migration section.
Finding your Farm
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 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. CNT-MATIC in case you need it later.
Providing liquidity to get LP Tokens
Now that you've found a Farm to stake in, you will need to add liquidity to get your LP Tokens.
Click on the details link on a farm card.
On the right, you'll see some link. Click on CNT-MATIC
This will open the Add Liquidity page for your Farm's pair. We have a guide to adding liquidity you can follow to get your LP Tokens.
Putting your LP Tokens into a farm
Now that you have your LP Tokens, you’re ready to start staking them in a Farm and earning rewards!