Join Yield Farming on PheasantSwap
We’re excited to share the long-awaited yield farming pool on PheasantSwap is now live!
Stake NULS/USDTN Ps LP to earn NULS, the farming pool has already been activated on https://pheasantswap.com/farms, users can now proceed to stake! Please also note that there is no rewards generated till 12:00 pm (UTC), April 13th.
Continue with this article to find out how to join the farm.
— Step 1:
Transfer NULS and USDT assets to ENULS network.
- Transfer NULS assets from NULS chain to ENULS network using NerveBridge : https://bridge.nerve.network/
- Connect NerveBridge with a suitable wallet, here we use Nabox Wallet for the demonstration.
- Select “NULS” as the original chain.
- Select “ENULS” as the target chain.
- Enter “amount”.
- Click “Confirm”
2. Transfer USDT assets from popular layer1 blockchains such as Ethereum, BNB Chain, Polygon, etc, to ENULS network using SwapBox’s liquidity function.
- Go to SwapBox : https://swapbox.nabox.io/swap, connect to your wallet.
- Select “Liquidity” function.
- Click “Deposit”
- Enter the amount of USDT you’re going to transfer to ENULS.
- Select “ENULS” as the receiving network.
- Click confirm, your target network should receive the assets within 3–5 minutes.
Supply liquidity for NULS/USDTN trading pair.
Yield farming allows us to stake LP tokens to earn other assets, it’s an favor returned to the liquidity providers, and possessing NULS/USDTN LP assets is your ticket to enter the staking. If you have already added liquidity for NULS/USDTN or you are currently holding a portion of LP assets from the NULS/USDTN liquidity pool, jump directly to Step 2.
- Visit https://pheasantswap.com/swap, click “Add Liquidity”.
2. Supply liquidity for “NULS” and “USDTN”.
- Enter the amount of NULS you want to supply, PheasantSwap will automatically calculate the amount of USDTN that is required.
- Enable USDTN.
- Click “Supply”.
3. Confirm Supply.
4. Check your NULS/USDTN balance.
Done supplying, your LP assets will appear on the PheasantSwap liquidity page.
— Step 3:
When you hold some NULS/USDTN LP assets in your wallet, you can now start to take advantage of them by staking.
Stake NULS/USDTN LP in the farm
- Click “Enable”
- Input password to proceed
2. Stake your LP assets.
- Click “Stake LP” to stake your LP assets.
3. Choose the amount of LP assets you are going to stake.
- In the section, you decide how much LP assets you are willing to stake.
- Click “Confirm” to finish the final step.
4. You’re now all set!
- Once you’ve done all steps, your NULS/USDTN LP assets has been successfully staked in the farm.
- Click “ — ” to remove your assets.
- Click “ + ” to stake more assets.
By providing liquidity on PheasantSwap, you share a potion of the pool’s assets. Holding these LP tokens allows you to totally control over when you withdraw your share of the pool without interference from anyone. As a liquidity provider, you are also constantly earning passive incomes from every transaction made upon the liquidity you supplied. However, it’s important that you clearly understand the pros and cons when providing liquidity on a decentralized exchange, that you earn trading fees, at the same time suffering from impermanent loss.
Enjoy your DeFi journey on PheasantSwap!