Guide to Maximize Yield on Notes.Finance
Follow the 4 simple steps below to maximize yield on your stablecoins!
1. Buy noteUSD, flexUSD or Note Tokens (Yield)
2. Withdraw to your own ERC20 wallet
3. Go to notes.finance website and add liquidity to the target pool (Yield+Yield)
4. Stake the Liquidity Provider (LP) Token in the FARM page to farm FLEX (Yield+Yield+Yield)
Step 1: How to buy noteUSD, flexUSD and Note Tokens?
For flexUSD and noteUSD
- Go to coinflex.com/flexassets
- Mint flexUSD with USDC in the ratio 1:1
flexUSD is an interest earning stablecoin where you can earn yield by simply holding it in your CoinFLEX account or in your own ERC20 wallet. Interest is paid on chain 3 times a day and the rate is derived from our repo markets. For details, see here.
noteUSD is a combination of flexUSD (20%) and an aggregator of all the existing note tokens (80%). It comprises the interest-earning powers of flexUSD + Note Tokens to create 3 yield-earning avenues daily.
For Note Tokens
- Go to coinflex.com/notes
- Select the note token(s) you want to buy
- Insert the amount and click “Subscribe”. The conversion rate of note tokens is 1:1 flexUSD/USDC
Note Tokens are a tokenised loan issued on CoinFLEX to a trading firm actively market making in crypto. Note token holders will receive a fixed interest rate between 8–10% APY plus 30% of the firm’s trading fees on CoinFLEX.
Step 2: How to withdraw to ERC20 wallet?
In order to generate a deposit address for the token, you have to add the token to your wallet first.
- Click the token you want to deposit/withdraw below
noteUSD | flexUSD | GrapefruitUSD | MountainVUSD | EfrontierUSD | NibbioUSD | FolkvangUSD - Copy the token contract address
- Paste the address to the “Add Token” section in your wallet (Metamask in this example)
- Withdraw from CoinFLEX to your ERC20 wallet!
Step 3: Add liquidity to the pools on Notes.Finance
By adding liquidity you are putting the token into the liquidity pool and making them available for other users to swap. We call this being a ‘liquidity provider (LP)’ and in return you will receive a respective amount of LP token (e.g. noteUSD3CRV-f) as a proof of becoming one of the LPs. For this you get rewarded and earn money from the trading fees that other users pay to swap their coins.
- Go to notes.finance and connect to your wallet
- Go to Liquidity page. Select the pool you want to deposit to and insert the amount
- Click Deposit, approve the transaction on your wallet first and then confirm the transaction
- After depositing, you should have automatically received a respective amount of LP tokens (noteUSD3CRV-f) in your wallet
- If you are not seeing the LP token in your wallet, please manually add it (See Step 2 above). You can find the contract address by clicking the button at top right of the page
Step 4: How to farm FLEX?
Stake your LP token to start ‘farming’ FLEX. Depending on the amount staked in the pool you can earn over 500% annualized interest! You start earning FLEX immediately after staking and you can unstake at anytime. Farming is on a linear vesting schedule, meaning you can earn much more FLEX for staking two full months than stake for less than 2 months.
- Got to FARM page. You can view the farming stats here
- Go to DEPOSIT section. Insert the amount of the LP token you want to stake
- After clicking Deposit, you will have to firstly approve this transaction by clicking the Confirm button in your wallet
- Lastly, “Confirm” the transaction and start farming!
- Check out the staking status in the CLAIM section. You can claim back your LP token plus FLEX rewards at anytime!
FLEX Coin is the coin that powers the CoinFLEX exchange and the cornerstone of the CoinFLEX ecosystem. Holding FLEX Coin entitles you a wealth of benefits and privileges such as lower trading fees and fees rebate.
