Yield Farming on IMPLS.Finance: Step by Step
Hey guys, thanks for tuning in. In this article I’m going to give a step by step guide on how you can start earning farming rewards from the IMPLS yield farming opportunity.
IMPLS offers several opportunities which we will fully detail in future articles. In this guide we’re discussing the core protocol farm. 60% of daily emissions are sent here, and the other 40% are spread among the auto-compounding vaults, making this a great way to earn and take part in IMPLS project. This farm is located on the Stake page and uses the IMPLS/PLS PLP token:
The first step we need to do is to create the PLP token from our IMPLS and PLS. If you haven’t gotten any IMPLS you can purchase on PulseX swap here and use that to pair with your PLS to get you started. You can use the “Pool Page” link on the farm to get to the Add Liquidity page and create your PLP.
One you are ready to create your LP token there will be two transactions if this is your first time.
#1) You will need to Enable IMPLS and approve spending so that PulseX can use your tokens to create the LP tokens. And
#2) will be to Supply. After these two transactions, you will then have the PLP tokens in your wallet.
After clicking supply you will be presented with another transaction, and once that finishes you will have received the IMPLS/PLS Pool Tokens required for the farm.
Now when you open the farm on the stake page you will see your balance of PLP tokens showing up! The next step is to approve spending of your PLP tokens so that you can deposit them into the farm. Simply click on “Approve Spending” and accept the transaction.
Now the last and final step before you start earning. You can click the [Max] button or input the number you’d like to deposit, and then click Deposit to start the transaction. Once this transaction goes through you will be earning IMPLS rewards!
I hope this helps some users that are looking to understand Crypto and DeFi projects and maybe haven’t experienced yield farming before. This is one of the best ways to earn and be part of the IMPLS project, we’ll be doing more guides in the future on our Vaults, and Revenue Share, if you’d like a guide done on any particular DeFi subject, feel free to drop us a comment and we’ll be sure to help where we can.
