The Ultimate Guide to Farm Assets on STON.fi

Farms pools are open for CATI, follow this guide to share in the impressive reward pool!

Abasido Tom

Published in

Coinmonks

6 min read2 days ago

What’s behind Play2earn’s popularity?

From the evidence we’ve gathered over the years, it’s safe to say that the most important thing in any technology is the User experience — whether a web2 or 3 technology. For the length of time Web3 has been in use, what we have also come to realise is that users are largely motivated by 3 things;

The money — in the industry and what they can make from it,
The fun and,
The ideology behind the technology.

On a scale of importance, the money and the fun rank higher than the ideology. That’s not to belittle the effect of ideology in this industry. All the innovations as we know today are a direct product of ideology, but the downside is that ideology is complex and is not a suitable fit for newcomers and users with basic knowledge.

Any innovation that can combine Money and fun is certain to onboard the next 100M newcomers and basic knowledge users to web3. TON through its games has come up with a creative way to combine money and fun. There are a lot of funny pictures and videos on the internet of people playing these games at unusual times and places just for the money and fun. Thus, the reason for user surge in the Blockchain is as clear as day.

Unarguably for a long time, this is the most I have seen people have so much fun while making money in web3.

However solidifying play2earn games in the mainstream requires a joint effort from other TON-based protocols. Just as there’s no development in isolation, collaborative effort through incentivized programs from fellow projects are a key to converting random play2earn users to loyal ambassadors of the TON ecosystem.

Introducing $CATI Farms

$CATI is the native token of Catizen, a Telegram mini-app game. Catizens is the 1st Binance Labs-funded Telegram project and has garnered a substantial user base of over 25 million players generating over $31 million in revenue.

In line with its token launch a few days ago, I showed how easy it is to acquire these $CATI tokens from STON.fi DEX. Now it’s time to use these tokens to participate in the ongoing STon.fi event.

What’s so special about CATI farms?

At the time of this writing, there are 25 active farms on the STON’s pool page.

So what makes CATI farms stand out from the rest?

First, the rewards of the event stand at $86,000. Currently, 2 pools are available in this event — CATi/TON and CATI/USDT for each pool there’s a reward of $43,000. If not for any other thing, this incentive is enough to grab your attention!
Second, the Liquidity pool tokens of both pairs is not locked in a smart contract, i.e. you can withdraw your liquidity at any time.
Third, both pairs are in the top 5 pools based on 24-hour APR.

For clarity, APR stands for Annual Percentage Rate. This number shows you the annual yield of the pool based on the past 24 hours of data. Think of it as an estimate of how much you might earn if things stay the same throughout the year.

Earning a part in this $86,000 reward pool is as simple as -

Supplying into the Liquidity pool to gain LP tokens
Farming on your LP tokens and,
Claiming your share of the reward pool, anytime!

Now, let’s take these steps together -

Step 1 — Supplying into the Liquidity pool to gain LP tokens

Prerequisite — own CATI, USDT or TON tokens depending on the pool you wish to participate in. Remember to keep some TON for transaction fees.

For this guide, we will participate in the CATI/USDT farm.

Launch the Ston.Fi App and select pools.

Proceed to connect your wallet with any TON compatible wallet like MyTonWallet, TonKeeper, TonHub. If you don’t have account, learn how to open one here.

Select the CATI/USDT pools and click the ‘add liquidity’ button

Now, you should something like this.

Input the amount of $CATI you are willing to supply to the pool. The algorithm will automatically calculate the amount for the USDT. That way, an equal value of both pair of tokens is in the Liquidity pool.

Click ‘Preview Liquidity provision’, and confirm transaction from your connected wallet.

Done! We have completed the first step of providing liquidity. By doing this, we’ll immediately start receiving a share of fees from each transaction in this pair. And more importantly, we’ll also receive rewards in LP tokens — special tokens from the DEX confirming our liquidity provision.

Step 2 — Farming on Our LP tokens

Go to the ‘Pools’ tab and toggle on the Farming switch to show all available farms. Select and click on it.

Remember, in this guide, we are using the CATI/USDT pair.

Click on the highlighted ‘farm’ option, by the right side of the image.

Because we already have this asset pair in our liquidity pool, this means we can start farming! Just go ahead and Click the ‘Farm’ option and preview the details on the drop down menu.

Confirm the transaction in your wallet, and Congratulations, your transaction is successful !

At this point, we are done with the primary task of farming our LP asset. Ignore the volume I used for this exercise, I kept it small because it is a guide. Ensure to check in on your assets in this farm regularly. Every time you do this, you should something like this.

Step 3 — Claiming your share of the reward pool.

After a few days precisely October 4, when this event comes to an end, Revisit the STON.fi app.
Navigate to the active pools, just like we did above. Here, your position in the farm and the amount of earned rewards are displayed. Proceed and click ‘claim rewards’ button, enter MAX to claim all the rewards.

Note — claiming rewards doesn’t mean you have exited the liquidity pool. If you wish to exit the liquidity pool, follow this easy guide.

Key Takeaways

The CATI farming $86,000 farm is ongoing. This ultimate guide is all you need to position yourself to make the most from this event. Remember, the higher your farm valus, the larger share of rewards you’ll recieve.

This guide is not only limited to CATI/USDT farming, anytime you want to participate in a farm on STON.fi, or you know anyone who wants to, this guide is perfect to serve the purpose.

Enjoyed reading this article? Please clap and follow me as a show of your support! To learn more about STON.fi

Head over to the Website: https://ston.fi/
Check out Crosschain SDK at https://github.com/ston-fi/
Follow on Twitter: @ston_fi and Telegram: @stonfidex