Introducing League of Stakes V2 and Project Y — Let the farming begin!

RiveX

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RiveX Foundation

8 min readOct 9, 2020

Staking with League of Stakes V2 and Farming with RiveX

Dear Rivexians!

Now that we have begun the move to Ethereum, many of you have already done the token swap and have your ERC-20 RVX sitting idle in your RX Wallet. The time has come to put those idle assets to work!

PS: If you haven’t done the swap from WRC-20 to ERC-20 RVX, please read here:

RiveX WRC-20 to ERC-20 Token Swap Details — Ethereum, here we come!

Details on the upcoming RVX token swap process

medium.com

League of Stakes V2 on Ethereum Explained (Staking)

League of Stakes has been moved over to Ethereum, allowing you to stake your ERC-20 RVX and earn rewards! You’ll need to stake your RVX in order to get the representation token rRVX, this is the yield-bearing token which will be used to farm for YRX which is explained further on in the article. Users can stake from web, or directly from within RX Wallet.

Contract address: 0x0733d47e9fca3161a443a0e16dd8c94e0059da28

Web link for Staking and Farming: https://rivex.finance/

PS: Make sure you have enough Eth for gas!

Staking Rewards

A total of 699,996 ERC-20 RVX has been allocated for the staking rewards pool. Staking on Ethereum will run for 11 weeks, rewards are not static and are dependent on how many users stake, and the quantity of RVX staked.

The flow is as follows: Stake your RVX, receive RVX as rewards, receive rRVX which can then be used to farm for YRX.

Staking with League of Stakes V2 is very similar to the old V1 Staking, we have included RX Desktop and web guides further on in the article.

Project Y Explained (Farming)

Project Y is RiveX’s community-driven farming project. It consists of three different pools, each of these pools can be used to farm for YRX.

Web link for Staking and Farming: https://rivex.finance/

What is YRX token?

YRX is the governance token for the community-driven Project Y with a total supply of 15,000 which will be fully distributed via farming. Phase one will consist of three pools as explained below.

YRX Token Specifics

Ticker: YRX
Contract Address: 0x21634b64a6915b879ad13d96418a82b2a48fcbe9
Decimals: 18

Let’s go over each of the pools below:

rRVX Pool — This is the pool you will use if you wish to Stake your ERC-20 RVX and use rRVX to farm for YRX.

Contract address: 0x1A290f8C7786Cdd3bF2ebcD6D45d58c4B9df2788

1000 YRX allocated for rewards
Duration: 6 weeks
Deposit rRVX to farm for YRX

RVX/USDT Uniswap LP Pool — This is the pool you will use if you wish to provide liquidity for the RVX/USDT pair on Uniswap to farm for YRX.

Contract address: 0xD620eeb5D41845C54ec1D27D97A0b456C6aE4bB6

4000 YRX allocated for rewards
Duration: 6 weeks
Deposit UNI-V2 LP token to farm for YRX

USDT/YRX Balancer 98/2 Pool — This is the pool you will use if you wish to provide liquidity for the YRX/USDT pair on Balancer to farm for YRX.

Contract address: (Will be updated 48 hours later)

Begins 48 hours after the above pools launch
3000 YRX allocated for rewards
Duration: 6 weeks
Deposit BPT token to farm for YRX

The remaining 7000 YRX are reserved for YRX phase two (stay tuned for more details on this!)

Staking your new ERC-20 RVX using the RX Desktop wallet

Before we begin, make sure your wallet is updated to the latest version!
Download the latest version here. Mobile update coming soon!

Click on the Staking tab on the left, then click Stake.

Enter the amount you wish to stake, then click Stake.

Set your gas fee accordingly, then click Approve. Approving only needs to be done once.

You will see “Transaction pending”. Wait for your transaction to complete.

Once your transaction has completed, click on Confirm to finish the deposit.

Wait for the transaction to complete.

Your RVX have now been deposited into the staking smart contract and you are now earning RVX as rewards. You have also received an equal amount of rRVX, the representation token which can be used for farming YRX (the Project Y token).

Farming YRX using RX Desktop wallet (rRVX pool)

In order to begin farming, you’ll need the rRVX token which you get from staking RVX as we covered above. Farming is very similar to staking, just a few extra steps. Let's go over how you can earn start earning YRX!

Click on the Farming tab on the left, then click Stake.

Enter the amount of rRVX you wish to deposit, then click Stake again.

Set your gas fee accordingly, then click Approve.

Wait for the approval transaction to complete.

Now click Confirm. Wait for the transaction to complete.

Your rRVX has now been deposited and you are earning YRX! You can see your YRX balance on the right.

To withdraw your rRVX and claim your YRX rewards, click on Unstake and Claim. On the pop-up, click on Claim. Your rRVX will be unstaked and your YRX will be sent to your address.

Staking and Farming on web using Metamask

For those of you who wish to stake and farm on web, we have included a guide on how to use Metamask. Follow the instructions below:

First off, you’ll need to extract your private key in order to import your RX Wallet account into Metamask. **YOU CAN NOT USE YOUR SEEDWORDS AS THE ADDRESS WILL BE DIFFERENT**
Click on Settings, Manage Wallets, Export Private Key, select Ethereum/RiveX, and enter your password. Click on OK.

Copy your private key from here.

Head over to your browser, make sure you have Metamask installed and setup. Click on Import Account.

Enter the private key you copied from RX Wallet here, click Import. This will import your RX Wallet account into Metamask.

Click on Connect your Wallet, then select Metamask.

If you haven’t already, make sure the correct address is selected in Metamask, and click Connect.

Click on RX on the left to enter the Staking section.

Click on Stake.

Enter the amount you wish to stake, then click Confirm.

On the Metamask popup, set your gas limit accordingly then click Confirm. **Keep in mind you may need to approve the RVX spending first, if so, click Approve and wait for the transaction to complete then wait for a second Metamask popup to Confirm the deposit**

Your RVX have now been deposited, and you are now earning RVX as rewards. You have also received the rRVX token which can be used for farming YRX.

To start farming, click on the Y logo on the right to enter the farming section.

Click the first pool (rRVX pool) then enter the amount you wish to deposit and click on Deposit.

Confirm the transaction on Metamask.

Your rRVX have now been deposited and you are earning YRX! To withdraw your rRVX and YRX rewards, click Unstake and Withdraw. Confirm the Metamask popup. Your tokens will be returned to your address.

About RiveX Foundation

RiveX is a chain agnostic interoperable layer-2 solution across different blockchain protocols. RiveX aims to empower the next generation of decentralized applications, decentralized finance and enterprise solutions. RiveX has comprehensive interoperable DeFi solutions such as RX Wallet which aims to integrate DAPPS from different blockchain protocols to enable an interoperable DeFi ecosystem within RX Wallet itself.

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