Farming on JUMBO 🐘

Jumbo Protocol

Published in

Jumbo DEX

5 min readApr 26, 2022

А very simple user guide that teaches how to farm cryptocurrencies on JUMBO Exchange.

Connect your wallet

Jumbo is a DEX (Decentralized Exchanges) platform for exchange on NEAR Blockchain. So it’s mandatory to have a NEAR wallet connected to JUMBO to use it. If you don’t have one, you must create one. If you already have the wallet, instructions on how to connect it are below:

Open JUMBO at https://jumbo.exchange.
Click red button “Open App” at the page header (top of the page).

Click “Connect wallet” at the header.

Select NEAR in the pop-up window (yes, even though this is the only button). The browser will automatically open a new window (wallet.near.org). There if you have logged into your NEAR wallet, you will see on the screen that you need to pay a network fee allowance to continue using the platform. This is 0.25 NEAR to be spent as gas for your future transactions. Click “Connect” if it’s ok for you.

Congratulations, you have now connected your wallet and can use JUMBO! You can see the confirmation in the header, the name of your wallet is written in the upper right corner.

Farming

Yield farming (or just farming) is the process of using decentralized finance (DeFi) to maximize returns. Users lend or borrow crypto on a DeFi platform and earn cryptocurrency in return for their services. More about farming here.

First, you need to enter the pools by pressing the “Pool” button at the page header. You will see this:

Now you need to choose the pool in which you want to farm. There you can see some information about each pool. Let’s take an in-depth look at the JUMBO/AURORA pool as an example:

JUMBO/AURORA — the pair of tokens that make up the pool;
Total Staked — the amount of money in dollars that is already in the pool;
Your Stacked — the amount of money in dollars that you have already stacked in the pool;
APY (annual percentage yield) — the real rate of return earned on an investment, taking into account the effect of compounding interest. Shows the APY based on a segment of time that you can toggle under “APY Basis”, standard shows in 24 hours. So APY 10% and APY Basis 24H means that based on the data for the last 24 hours, the annual return will be 10%.
Reward Tokens — shows in which tokens you will receive the reward. In this pool, they are JUMBO tokens, as the JUMBO logo is there.
The dates at the bottom — the first says when the ability to farm in this pool was open, and the second says when the pool will be closed.
Stake — the button you need to click to start staking.

Click “Stake”. To stake your tokens in this pool you need to share some to the liquidity pool (minimum 0.00001). If you don’t have enough, click “Get share” button. If you already have enough shares, you can just go on and Stake.

Here you can add liquidity pool (to gain more shares). As you can see I already have 5.004 JUMBO on my wallet and I can share it. But I don’t have any AURORA tokens, so I need to retrieve it somewhere. For example swap any other tokens to AURORA at JUMBO Exchange.

When you have both tokens, choose the number of them and click “Add Liquidity +” and approve transaction in the automatically opened tab. Do not close this tab until the transaction is complete. When the transaction is finished, you will automatically have the JUMBO page open again.

Now if you have added enough tokens to the liquidity pool, you can enter the required amount and click “Stake +”.

You can ask “How many is enough?”. It’s a good question. Enough is 0.00001 (of what?). It’s 0.00001 NEAR. So to understand how much JUMBO, AURORA or any other tokens you need to share just convert the amount of it to NEAR. For example if:
1 AURORA = 0,5 NEAR
1 JUMBO = 0,5 NEAR
And you want 1 NEAR to stake, you need 2 AURORA + 2 JUMBO.