Tutorial on How to Farm/Stake on Ubeswap

A detailed guide on farming/staking on Ubeswap.

Ubeswap serves both as an automated market maker (AMM) and a decentralized exchange (DEX) protocol for Celo assets. Through Ubeswap, Celo users and other crypto enthusiasts can trade between any two ERC20 tokens.

In this piece, we will go through the steps required to farm/stake on Ubeswap.

Before you can farm on Ubeswap, you should already have liquidity in the pool you choose. Below is a quick guide on how to provide liquidity.

Providing Liquidity

Step 1: Visiting Ubeswap’s official website

Visit Ubeswap.org then click on Launch App.

• On your phone’s application, open the Pool tab
• Click the Connect to a Wallet button.

A pop-up window will appear with various supported wallets for you to select. For this guide, we’ll be working with Metamask.

Once you select your preferred wallet, follow the instructions on the prompt to connect it to Ubeswap.

• Once done, you will be redirected to the Pool tab. Click on Add Liquidity.
• On the page that opens, specify the token pair that you’d like to provide liquidity too. For this example, we’ll assume the Celo/cUSD pair is chosen

After picking your preferred pair, enter the amount of tokens you want to provide. Please note that you must deposit an equal amount of tokens on both sides of the pool.

• After confirming that you have enough tokens, you can then supply liquidity by clicking on Approve. After approving, click the Supply button.
• A second confirmation button will pop up to help you double-check the details provided. After you’ve verified that all information is correct, click Confirm Supply.

Once done, you’ll get a link to help you view the status of the sent transaction.

How to Farm/Stake on Ubeswap

Step 1: Joining a Yield Farm

• On the Ubeswap application, go to the Farm tab and choose the pool you want to join.

Since you’ve already provided liquidity to your chosen pool from the steps above, we can jump to the next step.

Step 2: Depositing Tokens

• After choosing the preferred pool, click on the Deposit button. With the right LP tokens on the yield farming pool, you’ll be able to see them on the Farm tab and deposit them directly in the pool. You can specify the number of tokens you wish to deposit or click MAX to deposit all the available tokens.

Note

If this is your first time depositing LP tokens in this farm, you’ll be prompted to approve the transaction and then hit Deposit to finalize the process.

Step 3: Getting Rewards

• After your LP tokens are deposited in the pool, you’ll start earning rewards immediately. Also, you can claim these rewards any time, at your own convenience.

Note

Please consult a tax professional before claiming these rewards.

Additional Information

You can visit the ‘Farm’ any time to see your active pools. Each pool will have the rate of your reward earnings at the bottom, in addition to the value of your stake.

Rewards are accrued while yield farming and are added to the pool in real-time. You can claim these rewards by withdrawing your liquidity.

With such seamless services, users are guaranteed real-time rewards. Visit https://app.ubeswap.org/ and start earning with Celo assets.