Yield Farming Public Test: A Guide for Participants
We’re delighted to announce that our Yield Farming public test is underway! In this material, we have prepared concise instructions on how to participate in it.
What is Yield Farming?
Yield Farming is a cryptocurrency investment strategy, widely used to bootstrap liquidity in DeFi protocols. It involves staking your assets in a liquidity pool to earn rewards. The rewards are paid out in the form of additional tokens, allowing you to earn a passive income on your investments. Yield Farming has become increasingly popular in recent years, as more investors look for ways to maximize returns in the volatile crypto market.
Before launching this option, we want to do some public testing so that everything is stable at the time of launch. And for you, it’s also an opportunity to learn about the feature and get a chance to earn an SPF reward.
Learn more about YF on the user guide: https://docs.spectrum.fi/docs/user-guides/yield-farming/
How to Participate in the Yield Farming public test
To participate in the Yield Farming public test, you’ll need to connect your Ergo wallet and get some test tokens on https://ergofaucet.org.
Once you’ve made this, you’ll need to select one of 3 test pools to join and then to stake your assets to start earning rewards.
There will be 3 test programs: tERG/tSPF, tERG/tSigUSD, tERG/tSigRSV
These are test tokens and don’t have any monetary value.
You need to:
- Stake any amount of test liquidity;
- Unstake any amount of test liquidity;
- Receive farming reward at least one time;
If you will find issues there will be a reporting form.
During the testing period, the team will be monitoring the performance of the Yield Farming program to ensure that all operations are working smoothly. This includes staking/unstaking, reward calculation, and other issues. We’ll also be collecting feedback from participants to help us improve the program and make it more user-friendly.
How to request test tokens
Go to the ErgoFaucet and enter your Ergo wallet address. You will get the required test tokens to participate in Yield Farming!
Rewards for Participants
To thank our community for their participation in the testing, 10 participants who successfully completes all steps will be rewarded with 1000 SPF tokens each.
The winners will be selected randomly and the results will be announced on our social media channels after the testing period is completed. So, stay tuned for updates.
To summarize
All the steps can be reduced to this little cheat sheet:
- Connect your Ergo wallet on Spectrum Finance;
- Request test tokens to submit wallet address and receive test tokens here;
- Stake any amount of test liquidity in all farms;
- Receive farming reward at least one time;
- Unstake any amount of test liquidity;
- You can also provide us with your valuable feedback via reporting form.
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