Farm $RAZOR on Dfyn Network
A step-by-step guide to farming your $RAZOR on Dfyn Network
We are delighted to announce that Razor Network is launching two exciting farms on Polygon (Matic) powered AMM platform — Dfyn Network. Razor Network will participate in Ecosystem and Dual Farm with liquidity pairs $RAZOR-$ETH and $RAZOR-$DFYN, respectively.
Total farm rewards; 240,000 $RAZOR + 11K $DFYN tokens:
- $RAZOR-$ETH Ecosystem Farm with 120K $RAZOR reward.
- $RAZOR-$DFYN Dual Farm with 120K $RAZOR + 11K $DFYN reward.
There is no TVL limit, and both the farms will run for 30 days from the announcement date.
If you’re new to this and need help getting started, the rest of this article will serve as a guide. We will walk you through from A to Z and have your farm-producing yield in no time.
Let’s get started!
Note: this guide assumes Metamask is already installed and you have funds on the Ethereum mainnet. If you don’t have Metamask installed, read these FAQs to get started.
Step 1: First, you need to add the Matic mainnet to your wallet.
To do this, navigate to https://chainlist.org/ and search “Matic” in the search bar. We want to add the Matic Mainnet, which is the option with Chain ID 137.
Next, click “Connect Wallet” and then “Add To Metamask.”
Approve the Metamask alert, and you are ready to move on to the next step!
Step 2: Next, you need to move funds from the Ethereum Mainnet to the Matic Mainnet.
Navigate to https://wallet.matic.network/bridge/ and connect your wallet. Make sure your Metamask is set to Ethereum Mainnet.
Click on Metmask and Sign the notification.
You should now see the following dashboard:
Click the “Move funds from Ethereum to Polygon” button near the top right of the screen. It will take you to the Bridge. Select the asset you would like to transfer. In this example, we are moving $RAZOR. Be sure to have ETH on Ethereum mainnet to pay for the transaction fees.
Once you have specified the asset you would like to transfer, click the “Transfer” button. It will open a notification window pictured below:
Click “Continue.” You will now see a Transfer Overview window that estimates the gas costs for the transaction.
Note: transaction costs will vary depending on network demand. To see current gas prices, click here. If you are happy with the transaction price, click “Continue” on the Transfer overview (pictured below). Otherwise, wait for gas prices to come down.
Once you have initiated your transaction on Metamask, and the transaction completes, your funds have officially moved from Ethereum to Polygon! Your balance should be updated on your Metamask.
Step 3: Change Metamask Network to Matic Mainnet.
The previous step should have been done in the Ethereum mainnet. Now that your funds are on Polygon, we will need to switch to the Matic mainnet.
Click on your Metamask extension icon and open the dropdown menu near the top of the window. Select “Matic Network.” After switching, your wallet should say “Matic Network” at the top, like what is shown below:
Now that you’re using the Matic Mainnet, you will need some Matic tokens to pay transaction fees. Don’t worry; fees are much lower than on Ethereum. If you need some Matic to get started, try using this faucet.
Step 4: It’s time to farm your $RAZOR
Moving funds onto Polygon was the hard part. Now you are ready to add liquidity to the Dfyn farms. First, you need to make sure you have the right assets. Remember, you are adding liquidity into the $RAZOR-ETH & $RAZOR-DFYN pool.
These pools work with equal liquidity in pairs; for instance, if you decide to participate in $RAZOR-$ETH ecosystem farm, you need to provide liquidity in 50% $RAZOR and 50% $ETH, which means you need an equal value of each asset in the pair you chose to add liquidity and earn farming rewards.
Navigate to https://exchange.dfyn.network/#/swap and equate the value of both the assets you will farm. For example, if you want to provide $1000 worth of liquidity, you need to have $500 of $RAZOR and $500 worth ETH/DFYN depending on the chosen pool.
Navigate to DFYN exchange and click on “Farms” and choose Ecosystem Farms. Then search “RAZOR”
Next, click on “Deposit” enter the amount you would like to farm, and then click on supply. After confirming supply, your tokens will be added to the farm, and you will be eligible for farming rewards.
Navigate to DFYN exchange and click on “Farms” choose Dual Farms. Then search “RAZOR” or simply click on the direct link to the farm. Other steps remain the same as other farms, enter the amount you would like to farm, confirm the supply, and your farm is ready to yield rewards.
Now, you are officially farming $RAZOR. Sit back and enjoy your farm yields!
Do not forget to check out our August 2021 development newsletter. Stay tuned to our official social media handles to be up-to-date with the latest news from the land of Razor Network.