3. Farm
Last updated
Last updated
There are two farms available on Luxy to reward users that provide liquidity for the Luxy ecosystem: $LUXY x USDT and $LUXY x $SYS.
The $LUXY x $SYS Farm is still under development, and will be launched early next 2024!
To use the farm, you can follow the steps described below!
The first step to being able to stake your position is to have provided liquidity on the $LUXY Liquidity Pools on Pegasys! You can reference our Provide Liquidity documentation for a guide on how to do so! Now that you're all set, you're ready to earn rewards!
1) Head ou to https://luxy.io/finance and scroll until the Farm section:
2) Select which position you'd like to stake on the farm from the drop-down field.
3) Click on Stake!
4) You will be prompted to sign a transaction on your wallet app, and then wait for a few moments while Luxy identifies the transaction!
5) After the transaction is confirmed, you will be all set! You can see the details of the rewards after your token is staked!
There are two types of rewards:
1) Pending Rewards are the rewards from the tokens you previously staked. These are ready to be harvested and brought back to your wallet!
2) Locked Rewards are the rewards related to your currently staked tokens. These will increase as you leave your tokens staked on the farm for longer. To harvest these rewards, you'll have to unstake your tokens.
1) Click on the Unstake section above the drop-down selector and select which token you'd like to unstake.
3) Click on Unstake
4) The unstake process is two-fold: we first need to unstake your tokens, and then withdraw them back to your wallet address. Both of these are smart contract interactions, so you will be prompted to sign two transactions with your wallet, and then wait for a few moments while Luxy identifies the transaction!
5) After the transaction is confirmed, you will be able to see your rewards in the Pending Rewards section! From there, the only step left is to click on Harvest! Once again, you'll be prompted to sign a transaction on your wallet. Once this is done, once Luxy identifies the transaction was confirmed on the blockchain, you'll receive your rewards directly in your wallet!
