How to make money with VERSA-farming
In this article we will tell you how to put your money into farms and get a high APR from it.
APR (annual percentage rate) is how much your initial contribution will increase over one year. For example, at the time of writing, the VERSA farm has a VERSA-BEAST APR of 3.293.6%. That is, in a day you will earn 9% of your initial deposit! Your tokens during this time will provide liquidity of our exchange, allowing you to exchange some tokens for others — for this you will receive interest.
- Go to https://versa.finance/farms.
- Confirm adding or changing the network to AstarNetwork in your Metamask Extension. If you still don’t have any network tokens, you can find out how to transfer them there in our first article.
- Go to the Farms tab and select the farm you are interested in. Remember the pair of tokens written above the APR. You now need to buy these tokens to add liquidity to the farm.
Warning. If the price of one of the tokens changes significantly, you may lose some money due to impermanent loss. You can read about impermanent loss here. If you are not ready to take this risk, use stablecoin farms (USDC, DAT, BUSD, etc).
4. Go to the Swap tab and select the tokens you are interested in. You will have to buy them in a ratio equal to the price of tokens relative to each other. For example, If BEAST costs $0.250, and VERSA $0.500, you will need 2 times more BEAST tokens than VERSA.
5. Go to the Liquidity tab, click Add Liquidity. Select the number of tokens you want to add to liquidity. Here you can see the prices of the tokens relative to each other and your share of the total liquidity. Click Supply and wait for the tokens to be added to liquidity.
6. Go to the Farms tab and click Approve Contract under the farm you are interested in. After Metamask confirms your transaction, click Stake LP. Here you can select the number of liquidity you are adding. You can use the MAX button and select all the purchased liquidity at once. Confirm the addition.
7. Congratulations! Your tokens now bring % to the farm. You will be able to pick up your reward with the Harvest button anytime you want.
8. After you withdraw liquidity tokens from the farm, you will be able to exchange it back for tokens also on the Liquidity page. Select your liquidity and click Remove Liquidity. Select the % of liquidity you want to sell or click Max. Approve the sale, then click Remove. Done, you can swap your tokens again in the swap page or send them via Metamask.
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