Yield farming on Proton
At Proton, we believe that everything you do with cryptocurrency should be fun and easy. That’s why we’ve made yield farming as easy as we possibly could. The process of yield farming your cryptocurrency with us is very simple, here’s how it works:
Step 1 — Create a Proton wallet account for free by downloading the Proton wallet app from the Apple App Store or Google Play Store.
Step 2 — Deposit your cryptocurrency into your Proton wallet account. See a helpful guide here for more information.
Step 2.1 — If you don’t have Proton (XPR) or USDC yet, you’ll need to swap whatever you’ve deposited for some. Don’t worry, there are no gas fees for making swaps on Proton — see our quick guide for swapping here.
Step 3 — Provide liquidity to the USDC/XPR liquidity pool at protonswap.com/pools. Make sure the two amounts you enter are equal to each other in value. For example: if the current exchange rate for 1 USDC is 135 XPR, and you want to add 10,000 USDC, then you also need to add 1,350,000 XPR. Once you’ve added the funds and confirmed the transaction, you’ll receive LP Tokens. The amount of LP tokens will be determined by the amount you contribute and will represent your share of the transaction fees generated by that pool. You can read more about providing liquidity on Proton Pools here.
Step 4 — Go to protonswap.com/farms and stake the LP Tokens for a variable APY paid in XPR. When you click “Harvest,” your earned XPR will be moved to your wallet.
As you can see, yield farming your cryptocurrency on Proton is about as easy as it gets. Powered by the Proton blockchain, everything you do in our ecosystem is instantaneous, verified by your unique @name, and without any gas fees at all. This means fast transactions, without paying ridiculous fees.
Ready to learn more about Proton? Check out our blog to see past articles, new updates, and everything else there is to know about the ecosystem we’re building. Be sure to follow us on social media to stay up to date on the latest happenings in our world.
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