How To Farm
Last updated
Last updated
You can put your LP Tokens to work by staking them in HunnySwap Farms.
Your LP Tokens will earn you 0.17% of all trades on your LP pair proportional to your share of the pool. Stake them in Farms to earn additional rewards in XOXO.
Staking your LP Token gives you additional rewards, but it comes with a risk of Impermanent Loss.
It is important for you to learn about the concept before you get started. Check out the article on Impermanent Loss from Binance Academy.
Before you can start farming, you will need "LP Tokens" to enter a Farm. Each Farm has its own LP Token that you can use.
Farms can only accept their own exact LP Token; for example, the XOXO-AVAX Farm will only accept XOXO-AVAX LP Tokens from HunnySwap.
To get the exact LP Token, you'll need to provide liquidity for that trading pair. So to get XOXO-AVAX LP Tokens, you'll first have to provide liquidity for the XOXO-AVAX pair. You may refer to Adding/Removing Liquidity for more information.
Before you proceed, you'll want to choose a Farm that's right for you. Visit the Farms page and you’ll see a list of available Farms.
XOXO-AVAX are at the top of the list with the default Hot Sorting. You can choose another sorting option if you like, such as by APR for the Farms with the highest reward rate currently.
When you find a Farm that you'd like to use, note down the trading pair, e.g. XOXO-AVAX in case you need it later.
Now that you've found a Farm to stake in, you will need to add liquidity to get your LP Tokens.
1. Click on the row of the Farm you've chosen from the list. It will open to show more details.
2. On the left, you'll see some links. Click on Get (your pair) LP link.
This will open the Add Liquidity page for your Farm's pair. We have a guide to Adding/Removing Liquidity you can follow to get your LP Tokens.
1. Go back to the Farms page and locate your Farm. Click anywhere on the row showing your pair. It will expand to show more details.
When you’re ready, click the Enable button and confirm your transaction in your wallet.
2. After the transaction is completed, the Enable button will change to Stake LP. Click on the Stake LP Button to proceed.
Enter the amount of LP Tokens you would like to farm with into the field, or just click Max to use all of your LP Tokens.
3. When you have the amount entered, the Confirm button will light up. Click it. Your wallet will ask you to confirm your transaction.
4. After a short wait, the window will close, and you will see your new staked LP Token balance in the farm details.
You may decide to add more LP Tokens to a Farm at a later date or to take some out of a Farm.
1. Return to the Farms page. At the top of the page, you'll see a Staked only toggle. Click the toggle.
You will now see all the pairs you have LP Tokens in on the list, making it easier to find your Farm.
2. Find the Farm you have LP Tokens in, and click the row to view details. You will see a - and + button on the right-hand side. Click - to remove LP Tokens, or + to add more LP Tokens.
3. A confirmation pop-up will appear, enter the amount you would like to stake/unstake or click Max to add/remove all your available LP Tokens.
4. Check that your entered detail is correct. Click on Confirm and confirm the transaction in your wallet.
5. After the transaction is complete, your new balance will show in the details section of your LP Token pair. If you've unstaked your LP Tokens, any unharvested rewards you had will automatically have been collected.
When you unstake your LP Tokens, any unharvested rewards in your farm will be automatically collected for you.
Farming will give you XOXO rewards over time. You can collect these rewards and use them to get more LP Tokens or anything else you’d like.
To collect your rewards, you’ll need to visit your chosen Farm and harvest the XOXO waiting for you.
1. Return to the Farms page.
2. Find the Farm you staked your LP Tokens in, and click the row to view details. You should see an estimate of your rewards under “XOXO earned”.
3. Click the Harvest button and confirm the transaction in your wallet. After the transaction is completed, the XOXO will be claimed to your wallet.
