Yield Farming on WanSwap
In the next section in the top bar, ‘Farm’, you can stake the liquidity tokens from the previous section into WanSwap’s yield farming platform.
Select the pool which you have provided liquidity, and click on “Deposit” or “Manage”. This will bring you to the management page which is seen in the next figure. Here you can deposit your WSLP tokens. Click on the deposit button.
Click on ‘Max’ to put in all the tokens. The first time you need to approve first. This will be done in your wallet. After approving click on ‘Deposit’ and confirm again in your wallet.
By depositing liquidity to the Farm, you get WASP tokens in return. The reward of WASP tokens will be calculated based on your liquidity token amount and staking time, i.e., staking a larger amount of WLSP for a longer time will get you more WASP tokens. The WASP token is at the center of the WanSwap platform and economics. It will be used as a governance token and for other purposes.
You can claim your WASP by clicking on the ‘Claim’ button. This will only claim the WASP accumulated.
If you withdraw from farming all WASP accumulated will be claimed automatically.
After withdrawing you will get back your WSLP tokens. These are needed to pull from the liquidity pool. You will now see the details of your liquidity on the pool tab again.
Yield farming on ZooKeeper
ZooKeeper also makes use of WanSwap's WSLP tokens. For some of the WanSwap farming pools you can earn additional rewards next to WASP, this token is called ZOO. You can boost the ZOO rewards by locking up the tokens for a longer time and by adding NFTs. If you want to know more about ZooKeeper and how it works you can check out their docs page https://docs.zookeeper.finance/.
Here is a guide on how to farm on ZooKeeper.
This is what a ZooKeeper pool looks like; you can see the explanation for each section by checking the text that matches the numbers in the image below.
- There will be many pools and each one will feature a different mascot. Each mascot will have an individual name associated with it. You can see a speech bubble next to the mascot highlighting the unique features of the pool in question.
- To the right of the ZOO Token icon is the current multiplier (i.e. for ZOO rewards) for that specific pool.
- The APY will display the Annual Percentage Yield of the pool to that particular time. It is worth noting that the APY is subject to change with each new block.
- The next section of the pool information displays how many tokens you have earned with the currently locked liquidity. If you haven't provided any liquidity or removed liquidity from the pool, this will show as "0.00".
- On the right of the earned tokens you'll see the “Harvest” button. If you have no liquidity in the pool this will be inactive; however, once your allocation of liquidity has been successful, you can claim your mining rewards at any time. (triggers a wallet TX)
- Next, you will see the value of the WSLP tokens you have provided. The amount will fluctuate during the time the liquidity is locked in the ZooKeeper pool. If you have no liquidity this will display as "$--".
- Under the locked value of your WSLP you can either choose to deposit WSLP for the first time or, if you have already contributed to the pool, you can add more WSLP to your current stake. Selecting either "Deposit WSLP Token" or "Top-Up" will provide more options to help you enhance your rewards. These are detailed below:
7.a If you are depositing for the first time in a pool you'll be able to select the number of days you would like to lock up your WSLP. Once locked you will be unable to remove your WSLP so choose this period wisely. However, The more days you choose to lock up the WSLP, the greater the reward boost %.
7.b If you are topping up a pool you have already contributed to you can optionally increase the boost %. By changing this the number of days in the lock period will increase.
7.c If you are adding WSLP for the first time, one of the many great main features ZooKeeper has when contributing to a pool is the ability to provide an "extra boost" to your rewards with NFT boosters (See NFT section for more info). These can also reduce the time your WSLP is locked.
7.d You will also be able to switch your NFT Booster for another if you wish to do so at any point.
7.e Once any WSLP has been added/topped up or has had an NFT added/swapped, it's essential to confirm these actions with the Approve and Validate actions.
- Next, you'll see the Token pairings. You will need to have provided liquidity into the pool before you can start farming the ZOO token. A link next to the token pair will direct you to the Wanswap Dapp, where obtaining WSLP is possible.
It's worth pointing out that when you add WSLP to a pool, you'll notice three subtle changes to the mascot card.
- The card will have a glowing border around it.
- The mascot will be wearing shades.
- The comment bubble will either change or appear to display further options to increase yield and display the NFT image you have assigned.
You'll notice the handy filtering options will enable you to find pools with the most liquidity or the most significant multipliers, view the pools you've contributed to, and which pools are currently active.