Earn 100% APY and more with PIE yield farming — here’s how
The DeFiPie user reward system is finally live, and you can already start earning rewards at an API of 100%. You can even earn a positive APY when you take out a loan in PIE — no other DeFi project can boast such a feature. Here’s a quick guide to get you started on PIE liquidity mining.
DeFiPie rewards every user of our dApp — both those who lend funds and those who borrow. All the rewards are paid in our native token, PIE. The exact reward rate differs depending on which pool you join, but the overall effect is the same: your cost of borrowing (APR) goes down, while your income from providing funds goes up.
In the list of DeFiPie pools, you’ll see a red PIE icon next to those that pay rewards.
If your goal is to maximize the benefits, then choose the PIE pool. The numbers in the Deposit and Borrow columns represent the profitability of lending and the cost of borrowing with the PIE rewards already counted in. Point to or tap on an APY number to see a breakdown of the interest rate and the reward rate.
As you can see, the PIE pool offers the best rewards. You’ll earn almost 34% APY if you lend PIE, while the second-best option, Zenfuse, will earn you a bit less than 8%. But the most interesting thing happens when you borrow PIE: the APR was -67% at the time of writing. What this means is that you’ll actually make money when you borrow money. It’s hard to believe, we know, but that’s how things work with DeFiPie. We don’t know of any other DeFi app where you can earn a net profit when taking out a loan.
The most efficient way to farm PIE
The high reward rate in the PIE pool creates a unique opportunity for yield farming. Since we want you to get the maximum out of DeFiPie, we’ll give you the recipe right here:
- Deposit PIE in the pool. You’ll get 33% APY as a liquidity provider.
- Then use your PIE deposit as collateral and take out a loan in PIE. For this, you’ll earn another 67%. Your total yield is 100%.
- Repeat this as many times as you like to maximize the income: deposit the PIE you’ve just borrowed into the pool, use it as collateral to get yet another loan, etc.
How to claim your rewards
In the top right of the dApp screen, you’ll see your total PIE balance:
Click on that number to see your accumulated rewards (Unclaimed Balance):
PIE rewards accrue to your balance every time a new block is added to the Ethereum blockchain — that is, every 15 seconds on average. You can either claim the reward manually by clicking on Claim or wait for it to happen automatically the next time you interact with the dAPP (add funds, take out a loan, pay back a loan, or withdraw tokens).
Act fast: the rewards supply is large but limited
Our reward program is extremely generous, so it’s only logical that it won’t last forever. We’ve allocated 92.5 million PIE for rewards, and right now we’re distributing 3,548 PIE a day. At this rate, the reward pool will last over 26 000 days, or over 71 years. However, we might change the daily distribution rate in the future, so we still recommend that you join the yield farming program now. This way you’ll also maximize your income in the long term.
As always, for any questions we invite you to our official DeFiPie Telegram chat. Someone from our team is always on hand to explain how rewards work, how to do yield farming, and help you with any other aspect of the dApp.
