Hello, Tealswap users!
While preparing for our next milestone, we’ve been providing posts to help you understand Tealswap services.
Now, we’re excited to introduce Tealswap’s next milestone, Multifarming!
About Multifarming
What is Multifarming?
Multifarming is short for Multiple Rewards Farming. It’s a place where you can reinvest your LP Tokens, in other words, where you can farm again!
When you get LP token from adding liquidity on certain pool, you can farm your LP token and get the multiple reward.
The rewards will be determined by multiple Campaign holders and it will not be limited to a specific token.
What is a Campaign?
A Campaign is an reward event that provides crypto assets as rewards for the Farm pool. In Tealswap’s Multifarming, Campaigns have the following characteristics:
- Anyone can host campaign for Multi Farming pool
- Multiple campaigns could be held in same Farming pool
- No limit of the kind of token for Multi farm pool reward token
The Campaign host opens a Campaign on a specific liquidity pool to incentivize people to invest in Multifarming by rewarding them. This encourages investment in the liquidity pool and, in turn, contributes to the value appreciation of the tokens that make up the pool.
Let’s explore how to get started with Multifarming.
How to Invest on Multifarming
Step 1. Start on Multifarming
Choose a Farming Pool that interests you, then start your investment (farming)
Step 2. Input Amount to invest(farm)
You can not Farm if you don’t have enough LP Token
Step 3. Check the result page after Multifarming
You can see the result page after the transaction has been completed and you can also see your farm status on Portfolio menu
Step 4. Check Portfolio
You can continuously monitor the results of your Multifarming investments in your Portfolio, and any accumulated rewards can be claimed from there.
You can also check the status of your Liquidity Pool investments in your Portfolio, and you can see the proportion of your currently held LP Tokens that have been used for farming.
The LP Tokens used for farming can be withdrawn permanently after you decide to stop farming.
Let’s also take a look at how to create a Campaign.
How to Open Campaign
Step 1. Get authentication to open Campaign via Discord
For security purposes, you need authentication(Whitelisting) to hold Campaign.
The Authentication(Whitelisting) is done per user wallet(EOA) address.
Step1–1. Request Whitelisting your EOA
At Open Campaign section on Tealswap site, You can see below page if you haven’t have your EOA whitelisted yet.
If so, click the “Request Whitelisting via Discord” button to go to the place where you can request whitelisting.
Step1–2. Request Whitelist for Campaign Opening on Discord
Please create a ticket in the Campaign channel of the Tealswap Discord to request permission as a Campaign host for your EOA.
Please follow the instructions in the guidance message when creating the ticket and provide the requested information in your response.
At this point, if you visit the Tealswap Open Campaign page, you will see a screen like the one below:
[Component Description]
Campaign Requester
The current connected Wallet address will be displayed, and it cannot be modified.
Step2. Open Campaign
Step2-1. Select Pool to open Campaign
You will choose the pool in which you want to open the Campaign to provide rewards on the related Multifarming pool.
Step2–2. Select Campaign reward token to offer
You can choose any token available for swapping on Tealswap as a reward.
Step2–3. Input the amount of the token to offer this campaign
The value you enter cannot exceed the amount of tokens you hold.
Step2–4 Set the period of the Campaign
You can set the duration for which you can open a campaign.
If you have around $5K in assets, it is recommended to set a minimum duration of about 6 months.
Step2-5. Check Result
You can also view these results on the “See All Campaign” screen below.
I hope this helps you understand Multifarming better! If you’re curious about Tealswap’s upcoming milestones, please refer to the following post.
Tealswap: Unveiling the Next Milestone
Twitter: https://twitter.com/tealswap
Discord: https://discord.gg/puWxGctzpM
