Finance.vote has just launched it's latest yield farming dApp - the resident pool in yield.vote. The yields at peak are 200,000% or more, making it one of the juiciest APE-PY. Read on if you want to know how to do it.
Unlike conventional yield farming where the yield is constant, the resident pool uses pulse mining reward system where the yield will peak at starting and starts to decay following a slope curve. It will then restart back at the peak at the end of the cycle. At the time of writing, each cycle is about two weeks. This parameter can be voted by the FVT Eth ID holders.
There are only 50 Slots available in the resident pool. There's no minimum but a maximum LP of 1000. Depending on the burn rate and reward rate some yield are at a APE-PY of 250,000% level!!
Let's show you how you can join in yield farming in the resident pool.
1. Goto http://yield.vote . Click on "take me to the dApp"
2. Click on "pool detail" at the resident pool
3. this is the main page of the resident pool. The graph shows the current FVT distribution rate per block.
To provide LP, you will need to have both FVT and ETH in equivalent value. Don't forget to have some extra eth to be use as gas fee.
Click on the "Stake LP tokens" to deposit LP for yield farming. If you do not have any LP token , goto step 4. Otherwise skip to step 5
4.Skip this if you already have provided the FVT/ETH LP in sushiswap. To get the LP token, you will first need to go to sushiswap.
Prepare FVT + ETH (equivalent in value). Click on "confirm adding Liqiudity" , system will then prompt you to approve ETH spending, approve FVT spending , then lastly "Add Liqiudity". If you do not have FVT, you can click on the swap tab to swap some FVT first.
At the time of writing, 1 unit of LP is about $11.82
5. After you press "Stake LP tokens", system will show the following page. You will need to first choose your slot. It can be empty or occupied slot.
After that, you need to enter the LP amount and Burn Rate. The burn rate is a Harberger tax, think of it as the amount of LP you are willing to loose to get the FVT reward. Suggest to set a burn rate of at least 0.01%, anything less will cause the display to show infinity.
If the slot is occupied, you will need to deposit a higher LP or same LP but with higher burn rate.
If it's empty, you can set your own LP and burn rate.
Press "occupy slot" and system will ask you for approval and then deposit LP token on metamask
6. After providing the LP token, you can view your LP by clicking the "My lots".
7. Monitor your lots as it maybe occupied by others that are willing to provide higher LP and higher burn rate. Go forth and enjoy your insane APE-PY
If you want to see how much is the total LP worth, goto https://apy.vision/#/
My other articles:
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How to Vote and claim directly via Binance Smart Chain (BSC) Contract https://www.publish0x.com/financevote/financedot-voting-and-claiming-directly-via-binance-smart-ch-xnqogve
how to vote and mint identity in finance.vote (Eth Chain) https://www.publish0x.com/financevote/how-to-mint-identity-and-vote-in-financevote-xpnmewr
how to claim reward in finance.vote (Eth Chain) and check it in etherscan https://www.publish0x.com/financevote/how-to-claim-your-voting-rewards-for-financevote-and-checkin-xqkoodj