Dec 22, 2020
Step-by-step tutorial on DUCK farming
Elegant and easy to understand long-term yield farming protocol
Our DUCK Farm is live https://farm.duckdao.io/ for pre-staking.
Innovation is complex, but not usually easy to understand. But we at DuckDao have come up with an innovation that is both simple and easy to understand.
Interested in participating in Duck Farms? Just follow these 4 simple steps:
- Step 1. How to access DUCK token via a swap on Uniswap.
- Step 2. How to provide liquidity to a pair of tokens in a liquidity pool, and earn LP tokens.
- Step 3: How to stake these LP tokens with our Duck Farms to earn Duck Tokens and other great rewards.
- Step 4: How to harvest your rewards.
Let’s get started with Step 1: How to access DUCK token via a swap on Uniswap
Go to Uniswap and connect your Metamask wallet. You’ll need to have some ETH in your balance for the transaction.
Once connected, visit https://info.uniswap.org/token/0xc0ba369c8db6eb3924965e5c4fd0b4c1b91e305f
Alternatively, click on the “select a token” button, copy + paste the token contract for the DUCK Token (add 0xc0ba369c8db6eb3924965e5c4fd0b4c1b91e305f) and click Enter.
Select the DUCK token that pops up.
Enter the amount of Duck tokens you want to buy. Click “Approve” to enable Uniswap to spend the ETH. Then, “sign” on Metamask to make it official.
You will get a popup to confirm the transaction and swap ETH to Duck Tokens.
Set the speed to ‘Average’ or ‘Fast’ to increase the chances of the transaction going through. Do not edit gas limit values, because there is a high chance of transaction failure.
Get ready for Step 2: How to provide liquidity to a pair of tokens in a liquidity pool, and earn Liquidity Provider(LP) tokens
Now that you have the DUCK token approved on Uniswap for your wallet, it’s time to turn our attention to the protocol.
Visit https://farm.duckdao.io/ to get started.
Click on “Swaps” on the top menu bar.
Select the pool you are interested in to start making your LP tokens for. Eg: “DUCK/DDIM”
For the DUCK/DDIM example, on this screen pressing on “Get Duck/DDIM LP Tokens will take you directly to the correct Uniswap contract where you can complete the action.
Once you are on Uniswap, you will need to provide both sides of the liquidity in order to generate LP tokens. In this example, simply enter the amount of DUCK you wish to add, and Uniswap will automatically fill out the DDIM side.
Click supply and confirm the transaction.
Set the gas to ‘Average’ or ‘Fast’ to increase the chances of the transaction going through on time. Do not edit gas limit values, because there is a high chance of transaction failure.
Wait for your transaction to complete and once confirmed, go back to the Duck DAO staking website.
Step 3: How to stake these LP tokens with Duck Farms to earn DUCK Tokens and other great rewards
You’ve provided liquidity to the appropriate Uniswap pair and your wallet now holds the appropriate LP tokens. To continue, go back to the DuckDAO staking website, navigate to swaps, and select your pair.
To stake your LP tokens on the platform, press the “Approve” button first.
Then you have to confirm your transaction. Check Metamask to confirm your approval transaction. Once your transaction is confirmed you can use the “Stake” Button to stake your LPs.
Enter the desired amount of DUCK and DDIM LP tokens and click “Confirm.”
You will get a popup to confirm the transaction.
Set the gas to ‘Average’ or ‘High’ for the transaction to go through faster. Do not edit gas limit values, because there is a high chance of transaction failure.
The LP token is out of your wallet and in the farming smart contract.
To verify that your LP tokens are staked within the pool look at the “Staked” amount shown in the black window on the pool swap view.
If you see the number of LP tokens there, congratulations! You are officially a DUCK liquidity provider. Your LP tokens are staked in the farming contract and will reward you with DUCK tokens and other great rewards over time.
Step 4: How to harvest your rewards
You need not unstake the liquidity provided to harvest your rewards.
Click the Harvest button and approve the transaction. The rewards will go back into your attached wallet. That’s it, you have claimed (or harvested) your rewards for supporting the network.
If you wish to unstake your liquidity, use the Unstake button.
Please note that unstaking liquidity from the pool will automatically activate the unilateral token burn feature and you will lose access to all the future rewards and farmdrops. Unstaking will automatically harvest your rewards as well.
Head over to farm.duckdao.io and start farming today. The DUCK token rewards will be launched on Wednesday and the exact block will be communicated soon.
Find Out More About DuckDAO🐥
DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.
The DuckDaoDime token is your key to unlocking all of the DuckDAO benefits. You can access DDIM here.
Who will win? One VC or a thousand ducks?
Website: https://duckdao.io
Telegram: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA
Twitter: https://twitter.com/dao_duck
CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime
EtherScan: https://etherscan.io/token/0xfbeea1c75e4c4465cb2fccc9c6d6afe984558e20
