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How to do Cronos Yield Farming with VVS Finance in Crypto.com - VVS Finance Tutorial Learn How to Stake in Liquidity Pools

By Charles Gune | cryptoguru | 23 Nov 2022


I will show you how to Yield farming on VVS Finance on Cronos Chain and Earn 40% APY on CRO-USDC liquidity pools.  Cronos (CRO) is the native cryptocurrency token of Cronos Chain — a decentralized, open-source blockchain developed by the Crypto.com payment, trading and financial services company.

Cronos Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data and protecting users’ identities. The CRO blockchain serves primarily as a vehicle that powers the Crypto.com Pay mobile payments app. Cronos is a project based on Cosmos SDK. So it is interoperable with Cosmos ATOM chain.

What is VVS Finance?
VVS is a simplest DeFi platform for users to swap tokens, earn high yields. VVS Finance used native VVS is a CRC20 Token native to the Cronos Chain. VVS and xVVS tokens are VVS Finance's native tokens. They are the utility, governance, and reward tokens with applications throughout the VVS platform.

xVVS is VVS Finance’s yield-bearing governance token. You can only get xVVS by staking VVS. Deposit in to xVVS Vaults to earn more VVS

CRC20 tokens for trading:
CRC20 is a token protocol closely resembling Ethereum's ERC-20 for interoperability
Except for Native CRO, all other tokens are CRC20 tokens
Tokens native to other blockchains are wrapped into CRC-20 tokens (eg. WBTC, USDC, ETH)

Cronos (CRO) Token Bridge
Cronos is a project based on Cosmos SDK. So it is interoperable with Cosmos ATOM chain. The Cronos Bridge can be found at https://cronos.org/bridge. The Cronos Bridge is a inter-blockchain bridge to transfer assets from other blockchains to and from Cronos.

Currently, the bridge only supports Crypto.org Chain, Cosmos, and Akash chain to Cronos for CRO tokens. However, the Ethereum to Cronos bridge will be coming soon and it will support ETH, WETH, WBTC, USDC, USDT, DAI at launch.

You connect your Keplr wallet or Crypto.com Defi Wallet. In my case, I connect my Keplr wallet. I Select From Chain as Cosmos because I have few Cosmos Atom token that I will be bridging into Cronos chain that I purchased from CoinEx Centralized Exchange. CoinEx supports CRO tokens as well only problem is withdrawal fee for CRO tokens from CoinEx is like 28 CRO tokens (or $2.8) because of high ERC20 Ethereum token gas fees on Ethereum Network. Withdrawal of ATOM tokens from CoinEx is 0.0024 ATOM at ATOM at $10 at today rate it is like 2.5 pennies. There are no fees associated with using the Cronos Bridge, but network gas fees will be incurred on both the origin chain and destination chain. The transfer will take approximately 1 minute to complete.

ATOM transfer is on Beta. Check your destination wallet for your funds; it may take up to 1 hour. I am transfering Cosmos's Atoms tokens into Cronos network. I have 1.2 Atom tokens, I am going to transfer into Cronos chain. I select Maximum Atom tokens keeping fraction for gas. It allows 1.11 Atom tokens out of 1.2 Atom tokens. I pay gas with lowest fees. I select the lowest fee. I click Transfer Assests. Now you need to add cros Address into your Metamask wallet. Go to Coinmarketcap. Look for Cosmos token. Now scroll down to search for Cronos chain token address. Click the copy icon next to Cronos chain address. Now go to Metamask wallet. Click import token. Paste this token address. Now you can see 1.1 Atom Tokens in Cronos chain on Metamask wallet. Next, you need to Swap this Atom token into CRO token. For this you need CRO tokens in your Metamask wallet. When I try to send few CRO tokens directly from the Coinex Exchange they charge 28 CRO withdrawal fee and it is send as ERC20 tokens on Ethereum Mainnet not on Cronos Chain. This will not work because you need CRO tokens in CRC20 token not ERC20 tokens. Without this CRO tokens in CRC20, I cannot swap anything to CRO tokens. I wish Cronos chain have a faucet on mainnet. They do not! That is why I had to use Elk Finance Bridge to bridge tokens from Fantom Chain into Cronos chain and get CRC20 CRO tokens.

Elk Finance Bridge to Cronos
Learn how to use Elk Finance Bridge to bridge dozen chains into Cronos chain.
I will use Elk Finance to Bridge Tokens in Fantom chain to Cronos chain. Go to app.elk.finance. Elk Finance supported Bridging chains are Arbitrum, Avalanche, BNB, BitTorrent, Elastos, Etherum, Fantom, Fuse, Gnosis, Heco, HSC, Hamony, IoTeX, KCC, Kava, Moonriver, OKC, Optimism, Polygon, and Telos. I am going to connect my Metamask wallet. First, I am going to Swap Few Fantom tokens into ELK tokens at $0.12 each. According to Elk Finance's Cross-chain Transfers called ElkNet, transfer fee to Cronos is 2 ELK tokens. So, I am going to have more than 4 ELK tokens on my wallet. Only supported Transfer tokens is ELK. Click Swap $ELK 1 for gas. All you do this bridge is to make sure you have CRO tokens on Metamask wallet to pay for gas fees. The transfer is very fast. It takes only few seconds as soon as the transaction is approved it shows up on the Cronos chain. Switch your Metamask wallet to Cronos Chain inorder to see your bridged CRO tokens in Cronos chain from my Fantom chain.

Swapping tokens to create liquidity VVS Finance
You can use VVS finance or PhotonSwap Finance. Just like VVS Finance. In this video, I am going to use VVS Finance. Go to vvs.finance . I am going to connect my Metamask wallet to the VVS chain. You can connect native CRO wallet as well. As soon as I connect Metamask wallet into VVS. It says wrong chain. I have been keeping my Metamask wallet on Polygon Chain. Click on Wrong Network button. Click Switch to Cronos Chain. Metamask will ask for Allow this site to add a network. Click Approve. This will add Cronos chain as a supported chain to Metamask. I am going to swap half of my CRO tokens for USDC. I am going to deposite equal amount of CRO and USDC. I am going to Trade and click Liquidity. I am going to deposit to CRO-USDC liquidity pool.

VVS Finance Boost Calculator
Using VVS Finance Boost Calculator you can calculate how much additional rewards you will earn from boost farming. You can invest on xVVS token where VVS token is the native token of VVS finance. X stands for staked tokens. Go to Earn tab and click xVVS. Stake VVS for xVVS to receive a share of platform profits. Deposit xVVS in one of our vaults to boost your earnings! As of shoting this video, xVVS staking apr is 29%. 1 xVVS = 1.11 VVS. VVS and xVVS tokens are our platform's native tokens. They are the utility, governance, and reward tokens with applications throughout the VVS platform. If you own No Miner Moles NFT from minted.network you can also get a boost. Currently 1 VVS Miner Mole sells for 4777 CRO or approximately $345 for price of 0.07 per CRO token.

Creating liquidity on VVS Finance
Go to VVS Earn. Click on Farms. I am targeting CRO-USDC currently at 41% un boosted and 50% with boosted. Click on the left link that says Get CRO-USDC LP. Here you need to deposit equal amounts of CRO and USDC. If you do not have equal amount, you have to manually swap one to the other. I prefer the Flash CRO-USDC LP link on the left. I can deposit directly my CRO and it will convert equal amount of CRO and USDC and deposit it.

Staking Liquidity in Farm on VVS Finance
Next, I will show you how to stake liqudity in the farm in VVS. Without staking LP tokens, you will not earn those juice 40% APY farm rewards in the farm in VVS. Last step we created CRO-USDC Liquidity token. Now we going to deposit it into this CRO-USDC farm. First you need to enable farm. Click Enable and pay CRO gas. Make sure you keep at least 5 CRO tokens for Gas. So when you are depositing CRO with Flash method into the CRO-USDC tokens in previous step, make sure to keep at least 5 to 10 CRO tokens for gas fees. You can as before click on Simulate your boost calculation and see how much more APR you get by staking VVS as xVVS or staking NFT and gettign the boost.

Harvesting rewards and un-staking on VVS Finance
Next, I will show you how to harvesting rewards and un-staking on VVS Finance. After a while you will see Earned rewards as VVS tokens and Harvest button turned blue. Wait until you get few VVS tokens before you pay CRO tokens as gas fees to collect your rewards. Make sure you have more tokens than gas fees you going to pay before click the harvest. There might be Beefy finance or other that do yield aggregation where they automatically collect yield and taken 8% of yield as a cut for them for providing that service.

Swap VVS rewards back to CRO
Next, I will show you how to Swap VVS rewards back to CRO. You want to convert those inflationary VVS protocol token into relatively stable CRO Layer2 tokens. Just go to the Swap tab of VVS. Convert VVS tokens into CRO. You always want to take out your rewards and put it away to limit your risks on the protocol.

Risk rewards on VVS Finance
You need to worry about Rug pulls. There is also risk of Impermance loss. CRO could experience collapse like FTT token on FTX exchange. There is risk that all pegged stables like USDC on CRO might lose pegged with a hack or liquidity crunch on a bear market. Cronos (CRO) Token Bridge is not that user friendly for not having a faucet for those you bridge tokens from Cosmos or Akash networks. The gas fees on Cronos chain is very high in terms of CRO tokens like 0.25 CRO for approve and 1.25 CRO to deposit. I love Fantom because gas fees during non congested times is very low as 0.002 FTM tokens. In summary use ELk Finance to bridge your tokens from other chains into Cronos chain. I would not use Cronos bridge because of limited chain support.

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Charles Gune
Charles Gune

I love anything about cryptocurrencies. I am avid follower of cryptocurrencies. I follow trends on crypto. I am small scale cryptocurrency miner with my private farm.


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