How to Farm ADX: A Step-by-Step Tutorial

This article was first published on The AdEx Blog - Medium
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We’ve prepared neat tutorials for earning ADX rewards while providing liquidity on Uniswap and Balancer

Earlier this week we announced AdEx farming: a great way to earn ADX rewards while providing liquidity on Uniswap and Balancer. Here’s how to participate.

Before You Farm

If you are familiar with liquidity mining and yield farming, this is nothing new for you; but if you’re new to the DeFi world, the process may seem a bit complex. This is why we created this tutorial for you.

Important: Before engaging in farming, make sure to understand how it works by checking out this article by Coinmarketcap, this explainer of the risks by Binance or this video on impermanent loss. Being a liquidity provider is much riskier than staking, and if you’re not familiar with it, we recommend staking instead.

If you feel comfortable enough to participate in AdEx farming, continue reading this tutorial.

Step 1: Provide Liquidity

In order to get ADX farming rewards, you need to provide liquidity to any of the participating pools on Uniswap or Balancer.

To decide which pool to go into, you have to look at multiple factors, such as total staked funds in the pool, total rewards allocated to that pool, what assets you’re currently holding, etc. — some of this information is accessible on our Farm page.

When you become a liquidity provider, you will receive a special LP token that represents your share in the given pool. This is the token you’re going to stake on our portal. You do not need to add this token to Metamask — the staking portal is going to detect it automatically for you.

Uniswap

To add liquidity to ADX-ETH on Uniswap, you need to go to the ADX-ETH pool there, then click on “Add liquidity” and follow the steps.

Please note that you ...

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To keep reading, please go to the original article at:
The AdEx Blog - Medium

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