How to: yield farm with SWEAT on Ref Finance

From Wed 14th September, Ref Finance is launching one of the most impactful liquidity farming programs ever seen on NEAR Protocol. The pool has a huge amount of extra rewards available to farmers in the first two weeks!

Anyone can buy SWEAT and NEAR, become a liquidity provider to the pool, and earn. By participating, you will earn in two ways:

• Your liquidity position will generate you swap fee revenue
• For the first two weeks, Ref Finance will distribute the following rewards to farmers of this pool: 5.2M $SWEAT, 15K $NEAR, 20K $REF

Liquidity provisioning is a way of depositing your tokens with a decentralized exchange (DEX), where they are used to provide liquidity to people looking to swap tokens. In return for this, liquidity providers receive yield and rewards.

Don’t worry if you don’t have the required crypto yet — you can buy SWEAT (make sure it is NEP-141) and NEAR on many exchanges.

NOTE: liquidity provision on DEXs can result in impermanent loss of assets.

Step-by-step guide

1. If you haven’t already, create a NEAR wallet at wallet.near.org, although it is expected that MyNEARWallet will carry on the role of NEAR’s web wallet, so it may be wiser to use this service. Alternatively, use Sender. Both MyNEARWallet and Sender are available on app.ref.finance WalletSelector.
2. Connect a NEAR wallet to app.ref.finance and visit the SWEAT:NEAR pool
3. Click ‘Get LP tokens’ — and then ‘Add liquidity’ — you need to add enough liquidity of each token so that they ‘balance’ each other at the spot price when you are deploying the liquidity.

4. Click ‘Farm in v2’ to return to the farm page, and then…

5. Click ‘Stake’ — you can choose how much you would like to stake. Below this, you will see your number of LP tokens, and the shares you have in the farm — this determines the % of the overall farm’s revenue from swaps you can receive. You may see it referred to as ‘Your Power’, which is simply your staked LP tokens.

6. An alternative to the above process: go to ‘Pools’ in the navigation bar > choose SWEAT-NEAR > provide liquidity > then go to ‘Farms’ (make sure it’s v2) > choose SWEAT-NEAR > stake LP shares

7. The final screen has an ROI calculator — it will show you how much SWEAT, NEAR, and REF you will receive, its value, and the % ROI (return on investment) this equates to.

8. Authorize the transaction in your NEAR wallet!

If you have any further questions, please read Ref Finance’s guide to farming. Also, reach out to the Ref Finance Telegram.

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