2 Easy steps to Exit Farming Assets Position on STON.fi
Directions on withdrawing your farm assets and rewards.
Recently, I’ve made posts covering all you need to know about Farming on STON.fi and a practical guide as direction on how to get started with earning farming rewards.
As you’ve known how to set-up farming positions, there’s also need to know what to do when you’re about closing up your farming activities.
Exiting farming activities should not be confused with exiting Liquidity pools. Although they sound similar, there are subtle differences in the operations of both. However, a fair knowledge of both is desirable as it will come in handy in this post.
Just before we jump in, exiting a farming activities covers both withdrawing the rewards of the activity and withdrawing LP tokens. Remember, LP tokens are the ‘special ticket’ you have that confirm your participation in any farming activity. Also, you can choose to only withdraw your rewards, while the LP tokens are still intact, or you can exit with both the farm rewards and the LP tokens. With this in mind, I will break this guide into 2 parts —
- Withdrawing your farming rewards
- Withdrawing your LP tokens.
Let’s begin !
- Withdrawing your farming rewards in 2 simple steps
Step 1 — Go to the ‘Pools’ tab and toggle on the ‘My Pools’ button to show all your available farms. Select the desired farm you wish to exit and click on it.
Step 2 — At the bottom of the page, try to locate the ‘Farm Positions’ menu and select ‘My Positions’.
Here, your position in the farm and the amount of earned rewards are displayed. Proceed and click ‘Claim rewards’ and confirm the transaction in your wallet to withdraw only the earned rewards.
Now, we are done with claiming our farming rewards. Let’s assume you want to discontinue farming this asset, you have to withdraw your LP tokens differently.
Exiting LP tokens is the 2nd part of this guide, and here’s the easiest way to go about it.
- Withdrawing LP Tokens
LP-tokens are special ticket that confirm your liquidity provision and are locked in the smart contract during farming.
By withdrawing them, you have put a stop to farming, thus regaining your funds.
Step 1. In the ‘Farm Positions’ section we saw earlier, click the minus button beside the ‘claim rewards’.
Step 2. Click ‘the minus button’ and confirm the transaction in your wallet. LP tokens will be unlocked. As easy a pie !
However, if the ‘claim rewards’ button is inactive. It means your LP-tokens are still locked. If you are here, you can see out the remaining time until unlocking, as indicated in the tooltip. Or while choosing a farm to participate in, choose one without a lock-up period.
Withdrawing LP tokens ends farming activity, however it does not return the funds you deposited into the liquidity pool.
Check out this guide below to see how that’s done…
Key Takeaways
Exiting farming activities starts with withdrawing the farming rewards and ends with withdrawal of funds from the Liquidity pool. I have given all the directions in this post. If you need more clarity on any of the things I have talked about, comment below and I will respond swiftly.
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