Guide to Yield Farming Euro on Polygon for Maximum APY
The following guide walks you through each and every step involved in this workflow that allows you to make significant use of your $PAR in new liquidity pools.
The High Level
The goal of this guide is to get you started in all the platforms and programs recently launched on Polygon using $PAR.
- We start with opening a wBTC Vault in Mimo and minting $PAR
- Depositing $PAR into the new Curve 4eur Pool to receive the LP Token: 4eur-f
- Staking 4eur-f into Jarvis’ 4eur DEN-0121 Liquidity Mining Program
- Or, we can add liquidity to KyberSwap and use Harvest to farm automatically in DEN-4EUR
The process is simpler than it sounds if you follow along with this guide and the video going through the entire flow.
Step 1: Opening a Mimo Vault
Mimo’s vaults are entirely yours. Give the protocol your crypto assets (wBTC, wETH, or USDC) and receive a fully decentralized stablecoin pegged to the euro as a result.
We’ll start by opening a vault — in this example, we’re using wBTC as the Vault’s collateral since it currently offers the highest APY. After creating the Vault, depositing your cryptoassets, and minting $PAR, your Vault should look like this.
In this example, we’re minting 131.36 $PAR which we will use to fund all the following steps in this tutorial.
Step 2: Deposit $PAR into Curve.fi’s 4EUR Pool
On Polygon, navigate to Curve’s 4EUR Pool and choose the amount of $PAR you’d like to deposit. After going through this confirmation you will receive Liquidity Pool Tokens we will use for staking in the following steps.
Step 3: Add Liquidity Into Jarvis Using LP Tokens
Navigate to Jarvis’s DEN-0121 Liquidity Mining Program and choose Add Liquidity with the amount of tokens you wish to stake.
If you wish to ultimately stake within Harvest.finance, skip this step and go to step 4.
Step 4: Add Liquidity Into KyberSwap Using LP Tokens
Navigate to KyberSwap’s 4EUR-F/DEN-0121 DMM and add 4eur-f tokens here.
This is for the purposes of step 5 where we’ll be staking in Harvest. as laid out here.
Step 5: Deposit & Stake for Rewards in Harvest
Navigate to Harvest.finance and choose the max amount of jarvis_DEN_4EUR to deposit.
After depositing, ensure to stake all fjarvis_DEN_4EUR for maximum claimable rewards.
That’s it! You’ve gone through the entire flowchart and participating in the best euro staking programs in the DeFi ecosystem.
Again, you have the option of stopping at step 3 or skipping it and taking the alternative route for greater APYs. Please be sure to find us on Twitter or Telegram and we’d be happy to help and answer any questions.