You don’t have any prior experience with Farming on a Dex (QUICKSWAP), but you want to give it a shot. Well then keep reading!
This guide is designed to show you the ins and outs of everything you’ll need to get started.
But first, make sure you understand the impermanent loss inherent to liquidity providing.
- Providing liquidity; Users can use their tokens to provide liquidity in QuickSwap’s pools.
- Liquidity providers (LPs) are rewarded with the trading fees paid by those who swap tokens using that specific liquidity pool.
- Farming; Liquidity providers receive LP tokens. These tokens represent a liquidity provider's share in the pool.
- LP tokens received for providing liquidity for pools can be used for farming on select pairs to earn rewards paid out in dQUICK
You can access QuickSwap via a desktop internet browser or your mobile device. Always make sure you use the link: QuickSwap
Before you start, you might want to clear the cache and cookies from your browser.
*Note: I’ll be using $USDT and $USDC tokens for this demonstration. Where $USDT=A and $USDC=B*
To farm dQUICK, you must first earn A/B LP Tokens by providing liquidity to the A/B pair on QuickSwap. To learn more, keep reading.
To provide liquidity to the A/B pair, you will need both tokens to be on the polygon network and have liquidity on QuickSwap or be available via one of QuickSwap’s automatic router tokens such as USDC, QUICK, or ETH.
You’ll need some MATIC for gas fees.
Add the A/B liquidity pair. Liquidity providers (LPs) are rewarded with the trading fees paid by those who swap tokens using that specific liquidity pool. Liquidity providers earn a 0.25% fee on all trades proportional to their share of the pool. Fees are added to the pool, accrue in real-time, and automatically compound into your position, minus any impermanent losses
Farm dQUICK with your A/B LP tokens;
The LP tokens that liquidity providers receive can be staked in LP mining or dual mining on select pairs on QuickSwap to earn additional incentives, such as dQUICK, in addition to their share in a pool’s trading fees. The practice is referred to as yield farming.
A/B Pool Tokens (called LP tokens) will be given to you after providing liquidity to the A/B pair on QuickSwap. The LP tokens can be staked to farm dQUICK
On the Farms tab( Liquidity Mining), approve the DEX to use your LP tokens, then deposit and confirm the dQUICK daily earning rate.
Now you can earn dQUICK tokens! Read up on dQUICK’s features here.
QuickSwap is a permission-less decentralized exchange (DEX) based on Ethereum but powered by Polygon’s Layer 2 scalability infrastructure.
QuickSwap has all of the popular features of top DEXs, but it also has the missing key components for a completely smooth user experience.
For More Infomation: