DIYFarm is the tool that allows owners and creators of projects to incentivize token holders via receiving some part of the pool through staking mechanics.
Our aim is to guide you through Dapplica’s DIYFarming concept from the standpoints of the Pool Owner and Pool User.
Owner’s Look
Briefly, the conditions to complete the pool configuration and make it active are the following:
- configure the reward token and staking token;
- set the beginning and end time of the pool (future time>start time>end time);
- click on the red dot to verify.
Closer look
Firstly, create a pool:
Next – press “Edit”:
Set up token configurations:
Staking Token – token you lock in the farming pool first.
Reward Token – currency users will receive as a reward for staking.
To install tokens, a user must specify the token contract and name – enter it exclusively for one token or for both.
Note! The number of shared tokens must correspond to the number of tokens on the user’s balance. Once a user has installed the tokens, they will return to the wallet immediately.
Deposit pool:
The owner can deposit a reward token at any time.
Within a deposit of reward token, the fee is not deducted until the pool is activated. But when the owner activates the reward pool, it allocates the commission (5%).
When the owner deposits an already active pool, the commission will be deducted from the deposit amount.
User’s Look
Get RAM first.
RAM provides the staking process. It can be purchased for WAX.
Next – enable farming by staking tokens:
The potential yield from staking is immediately displayed in WAX or any currency the pool was set up with.
Final income can vary due to the users’ activity: the more often users claim tokens, the lesser pool becomes.
The “Unstake” button will allow refunding of locked funds.
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