How to farm with your Lyzi?

After creating our LYZI token, we sought to boost its ecosystem by introducing various DeFi options. We created a liquidity pool on the Quipuswap DEX, then to further enrich the experience, we launched a farming program that currently offers an annual yield of 62%. First, we will simplify the notion of farming, then we will guide you step by step on the procedure to engage your LYZI in farming.

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What is farming?

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The goal of farming is to incentivize the provision of liquidity for trading on DeFi platforms.

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Users contribute to liquidity pools by depositing their funds into smart contracts. These liquidity pools are often used to facilitate trading on DeFi platforms.

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As a reward, participants receive protocol-specific tokens, proportional to their contribution to liquidity. These rewards can be distributed based on the transaction fees generated by the pool.

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Farming incentivizes users to contribute liquidity to DeFi pools by rewarding them with cryptocurrency based on the transaction fees incurred.

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How to farm LYZI on the TEZOS Blockchain?

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First, you need to create a wallet on the Tezos blockchain, such as Temple Wallet. Since a few months you can also interact with the Tezos blockchain from your Metamask thanks to Tezos Wallet Explorer.

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Follow these steps to get started farming with LYZI:

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Step 1: Add TEZ to your Tezos wallet to cover transaction fees.

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Step 2: Make sure you have the equivalent value of your LYZI in TEZ. Check out our tutorial.

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Step 3: Go to QuiPuSwap

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Step 4: Connect your Tezos wallet to Quipuswap.

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Step 5: Deposit liquidity into the LYZI/TEZ pool to receive QPT tokens in exchange, called “LP tokens”.

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Step 6: In the farming category, "Stake" your LP tokens in the TEZ/LYZI pool.

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Step 7: After 60 days*, harvest your rewards by clicking “Harvest”.

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Step 8: To withdraw your LP tokens, simply click on “Unstake”.

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*Note that exiting the farming pool too early will not generate rewards. Leave your LP tokens in farming for at least 60 days to fully benefit from the rewards.

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