@carisdaneym2 8 October 2021 edited

How to FARM on MistSwap: NEW DEX on SmartBCH

If you are in the state of diving into Defi world, this article might help you especially on farming. But before we start doing the step by step procedure, let me give you a brief description of how farming works, how can you earn and what are the risks of doing it. Also, let me introduce the new decentralized exchange on smartBCH, the MistSwap.fi What is MistSwap? Like any other dexes on different chains, MistSwap is allowing you to trade your tokens, farm and stake it on pools, the only difference was dex is built for SmartBCH Network and they offer different APR (Annual Percentage Rate) and more features that makes it unique compared to any other dexes out there. *"MistSwap provides greater incentives for token holders by distributing a portion of all fees to people who stake MIST, as well as an overall improved fee structure which reduces impermanent loss from liquidity providers. We also have many farms, a staking system, and a SLP redemption system." - @kasumi* MistSwap Website https://mistswap.fi/ Conversion of MIST-SLP to MIST- SEP20 https://lake.mistswap.fi/ Discord https://discord.gg/xFTnQEzu9T Telegram https://t.me/MistSwapOfficial Twitter https://twitter.com/mistswapdex How providing liquidity and yield farming works If you are new to crypto and the DeFi space, you are possibly confused about how liquidity mining and yield farming work, as well as their good strengths and weaknesses. Liquidity mining is the process of earning tokens by providing liquidity. It also allows you to earn native tokens (in Mistswap dex, MIST is the native token). On the other hand, yield farming transfers liquidity across several DeFi platforms to optimize the return. By doing so, yield farming will reward users with LP tokens. Despite the risks of impermanent loss, both yield farming and liquidity mining provide considerable rewards to their users. One of the most notable benefits of both systems is that they allow users to make money passively. Besides, the system rewards every movement of the user’s assets. (Choose a good pair!) **Alright, Let's Start Farming Now!** For you to start farming, you need to provide liquidity on the pair you wanted to be on farm i.e BCH/MIST or BCH/FlexUSD pair. (Depends on what do you want) **Step 1: Visit the** **website** **and connect your wallet.** https://app.mistswap.fi **Step 2: Provide Liquidity.**

Go to **Liquidity tab**-> **choose a pair** and then approve and confirm it to your wallet. (In my example, I chose BCH/FlexUSD pair.)

Once you provide liquidity, you will have ****LP tokens**** that can be use in farming.

**Step 3: Choose your Farm Pool** Mistswap offers lots of pools to stake your tokens while farming MIST. (remember, you will earn MIST if you put your bch and tokens to the pool)

**>**Select the pair you provided on your liquidity. **>**Input the amount. **>**Approve the contract and confirm the transaction.

***Note:*** *For first-time staking, you need to approve the token's contract in your wallet. (i. e Metamask)* **Step 4: Stake your Pool Tokens**

And after approving the contract you are now ready to stake it.

**Step 5: you may leave your staked Pool Tokens once you are done and unstake it anytime. (JUST CLICK THE UNSTAKE BUTTON)** How to Harvest the Rewards (MIST) >Go to the **Farm Page**, select the **pool** your are farming and **click harvest**. **ALL DONE!** Maybe this is the reason why most of the users are diving into Mistswap Dex, More pools to farm. We all know that BenSwap exists but as of this writing, BenSwap had some issue with $CATS and remove the farm pool there, BenSwap had some issue with AXIEBCH as well and Mistswap offers better deal and High APR that might be the reason for them to leave BenSwap. *(I don't intend to write in favor, this is only based on what I've seen on their progress and issues)* Attention: Just remember, this is NOT a financial advice. Make sure to do you OWN research (DYOR) before investing your money. **Reference:** https://read.cash/@kasumi/mistswap-defi-on-bitcoin-cash-a6300f5f ****Related Articles:**** Helpme.cash https://helpme.cash How to setup smartBCH Network on Metamask and smartBCH-CoinFLEX Bridge https://read.cash/@carisdaneym2/how-to-set-up-smartbch-network-on-metamask-and-smartbch-coinflex-bridge-7f64c443 Staking on BenSwap https://read.cash/@carisdaneym2/staking-on-benswap-the-first-dex-on-smartbch-c7a19a92 $CATS and swapping tokens on Benswap https://read.cash/@carisdaneym2/i-got-free-1-million-cats-worth-03-bch-did-i-swapped-them-all-or-not-d9dac806#swapping-cats-to-bch-vice-versa-besnswap-smartbch BCH Argentina on smartBCH https://read.cash/@carisdaneym2/bch-argentina-token-on-the-smartbch-network-35425ae9 CandyMan token on smartBCH https://read.cash/@carisdaneym2/candyman-token-on-smartbch-network-d4d6ba81 **Author's Note:** **Article #103 (October 08, 2021)** 💜💜💜 Hi! Welcome to my humble abode. Thank you for sincerely reading my content and I really appreciate your visits, likes, upvotes, comments, and subscriptions so thank you so much. I hope this article helps you in a little way. Any violent reaction is open to the comment section. **💜Find me on my Socials!💜** https://read.cash/@carisdaneym2/torum-a-social-media-platform-that-connects-crypto-enthusiasts-across-the-world-7176ed9a#find-me-on-my-socials ****Noise.cash**** **|** ****Twitter**** **|** ****Torum**** **|** **Reddit** **|** ****PublishOx**** **|** **medium****|** **Wordpress****| Facebook| memo.cash | Club1BCH |** **Telegram****|** https://noise.cash/u/Carisdaneym https://twitter.com/carisdaneym?s=09 https://www.torum.com/u/carisdaneym https://www.reddit.com/u/carisdaneym?utm_medium=android_app&utm_source=share https://www.publish0x.com/settings https://medium.com/@carisdaneym2 https://carisdaneym.wordpress.com/ https://t.me/cutiecaris **My Communities** Noiseristificationism Channel: **Let's write it up and make some noise** https://noise.cash/c/noiseristificationism-x3lzmr71 Juunglers: **Talks about Juungle NFT Marketplace** https://noise.cash/c/juunglers-8xl8kn14 Read.cash Channel: **read.cash community** https://noise.cash/c/read-cash-community-301vjw18 **Club1BCH:** ****Hodl, spend, replace and spread Bitcoin Cash!**** https://noise.cash/c/club1bch-9x107x5l Facebook page by Yen **Bitcoin cash Nueva Ecija** https://web.facebook.com/BCHNE Facebook group by bmjc  **Bitcoin cash Earn and** **learn** https://web.facebook.com/groups/237769798056371