DEOR - THE FULLY DECENTRALIZED ORACLE NETWORK

Dummies guide to farming the Oracle of Oracles - DEOR

By cryptocloaker | cryptocloaker | 18 Mar 2021


DEOR

DEOR IS A FULLY DECENTRALIZED ORACLE NETWORK WITH A RANDOMIZER, REPUTATION AND SECURITY MONITORING SYSTEMS.

NB: This article assumes you already have metamask installed. If you don't then please go and get it installed from here: https://metamask.io/download

Farming DEOR is like farming any other DeFi token in ERC20 land.

First you need to load your wallet up with some Ether - do that buy either getting your mates to send you some or buying the stuff from the likes of coinbase or binance.

Note: For this example we'll assume you have 1.5 ETH in your wallet.

We're going to keep 0.5 ETH for gas fees, and spend 0.5 ETH buying DEOR.

Once you have some Ether, head to Uniswap and swap some of it for DEOR. Click here for a direct link to Uniswap with ETH & DEOR preselected. If this is your first time dealing with DEOR on Uniswap you'll get the following scary here be dragons warning message. If you trust some randomer named cryptocloaker on the internet tick the I Understand checkbox and crack on, otherwise be a good netizen and go check DEORs coingecko listing and confirm the contract address is the same as the one you see.

Trust nothing, except this. maybe.

So you clicked Import.

Now slap 0.5 in the ETH field and Uniswap will automagically adjust the DEOR value based on the current price. Hit Swap, Metamask will now popup asking you to confirm the gas fee - I affectionately refer to this as crypto mugging, click accept and wait for the transaction to process. This could be anywhere from 5 seconds to a minute assuming you didn't adjust any settings in Metamask.

NB: If this truly is your first ever uniswap experience then Metamask will ask you to approve spends first. Make sure you do approve otherwise none of this will work.

So you've now waited a bit and Metamask has told you it's spent some of your ETH and you now have some DEOR.

In order to farm DEOR, you need to first create something know as Liquidity. Watch this link if you want a grounding in all that magic.

To get our Liquidity Pool ("LP") tokens, we need to supply an equal value of ETH and DEOR (note I say VALUE, not NUMBER!)

Click here to go to the Uniswap ETH/DEOR LP page.

Click the MAX button on your DEOR balance, and the ETH value should adjust accordingly. Given we didn't spend ALL of your ETH doing this you should have plenty left over - this is super important as we need the remaining ETH for future gas fees.

If Uniswap asks, click the Approve button, then after that transaction has completed (you only need to approve once) you'll see the Supply button enable. Click Supply and again confirm the transaction with Metamask and wait a while.

Right, now we are in position of some ETH/DEOR LP tokens! Head on over to the DEOR farming page (click here) to get staking....

The website will probably ask you to connect your wallet. Do this.

Now click the select button on the DEOR-ETH pool:

Click it... go on.. click it!

Next click Approve:

d8ef84e5c3dd093fffba3336057e68c723bca50b8b2ae04310e5c9587201b482.png

Yet again Metamask makes an appearance wanting to spend more of your hard earned ETH. Click Accept. (This spend accept stuff is a truly one off affair though, if you do all this again you'll skip these bits.)

Now when you return the buttons will have changed to Deposit & Withdraw.

29d0d02249aa779a64f7ab5c230938a7ebef7aba972772e248e8cd467f18ba46.png

Click deposit, then click the Max link on the popup. This will now stake your LP tokens into the DEOR farming pool. Accept the Metamask crypto mugging and wait for the transaction to confirm....

ae2e232b294b1f95db9a5a2222031cef35fcb699b1f9de6df41a7b2186ff4f69.png

Once your transaction approves - depending on the amount of DEOR/ETH you banged into the pool - your DEOR Earned balance will start ticking up.

Those special numbers

Woohoo - you made it!

Sit back and relax, knowing that you're farming DEOR like a true degen farmer. Good effort.

Hopefully by now you'll realise how easy all this stuff is, and to claim your DEOR you simply click the Harvest button. Get mugged by the ETH miners via Metamask, wait a while and boom fresh DEOR in your wallet.

I find sites such as zapper.fi are really handy for seeing what my ERC20 portfolio is worth. Don't be alarmed that your ETH/DEOR LP tokens aren't showing up, not every site can detect them - you can use sites such as APY.Vision to see this exciting stuff - oh and you'll now have to learn about impermanent loss. Oh the pain. :-)

Enjoy, my fellow crypto nutters!

 

None of this is financial advice. Do not assume I know what I am doing. Do your own research, speak to a qualified advisor if you want to. I wish you every success in the future and hopefully this article helped shed some light on this currently crazy time we are experiencing in crypto!

Happy farming!

10bc7bf1d2e6f9de031054ba45853ec344bef628d81fec4983ac2d80a46d2154.png

cryptocloaker

If you feel like throwing me some crypto - use this wallet address: 0xb56eA43efaf3d46733247Ab77c870BBCB06A37EC - but that's your call. I write this stuff for fun and to help others.

Peace.

How do you rate this article?

6


cryptocloaker
cryptocloaker

in crypto since 2012, on earth much much longer


cryptocloaker
cryptocloaker

My random musings and potentially helpful articles on all things crypto

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.