Yield farming is a method to get rewards by supplying liquidity provider tokens to a liquidity pool. PinkSwap liquidity providers deposit funds into the liquidity pools and earn rewards in return. Yield farming on PinkSwap is when you provide liquidity to one of our various pools. Your reward for being a liquidity provider is that you earn $PinkS
In this tutorial, we’ll take a look at how to farm PINKS-BNB LP to earn $PinkS token on PinkSwap, using Metamask on Desktop.
After adding liquidity to the PINKS-BNB farm you’ll have some PINKS-BNB LP tokens. These are the tokens you put into the Farm. If you’ve already completed this, good work! Feel free to go straight to step 3.
5. Wait until the “Enable” button changes to the “Stake LP”. Once that’s done go ahead and click on it.
6. Input the amount of PINKS-BNB LP Tokens you would like to supply to the Farm (or just click on “Max”). Press “Confirm” once you are ready. If you don’t have any LP tokens, the “Confirm” button will become unclick able.
7. Authorize the action in your wallet.
8. After confirming your action in the wallet, wait until you see the LP Tokens balance on the page and that’s it! You’ve supplied LP tokens to the Farm. Happy Farming! Sit back and enjoy your $PinkS rewards!
Adding/removing LP Tokens in a Farm
You can add more or remove your LP tokens from a Farm anytime you’d like as they are not locked in. To visualize this let’s take the farm PINKS-BNB as an example, if you want to add more LP tokens, you’ll need to provide liquidity first.
2. There will be a “-” and a “+” buttons. Click on the “-” button to remove your LP Tokens, or click on the “+” button to add more LP Tokens to the farm.
3. Input the amount of PINKS-BNB LP Tokens you would like and you can choose whether you would like to remove or add more of them. Then go ahead and click on “Confirm”. One example for adding more LP tokens:
4. Authorize the action in your wallet.
5. Wait until you see the new LP Tokens in your balance.
Side note: If you remove your LP tokens and had rewards unharvested they will automatically be placed into your wallet. No fuss easy and simple!
Harvesting your farming rewards
This is the best part! To collect your $PinkS rewards from the Farm, follow these steps below:
2. Click on “Details” to view more. Once that’s done you can see the amount of $PinkS rewards under the section “PINKS EARNED”.
3. Click the Harvest button
4. Authorize the action in your wallet, once you’ve completed that you’ll be prompted to pay a small harvesting fee, the amount depends on the BSC network at the time of your transaction. We recommend not to harvest all day and night as your rewards may be less than the transaction fee! Our suggestion would be to leave your rewards to grow until at least you can afford the transaction fee, so you will pay less in fees. But feel free to do whatever works for you!
You can use the reward tokens from a Farm to help you make other LP tokens to use in the other Farms to earn more rewards and so on. For example, you can farm with PinkE-BNB at first (with the same steps above) to get $PinkS, then you can use $PinkS to farm in PINKS-BNB to get even more $PinkS! Awesome farming opportunities await!