How to use the Metafarming Tab
In this guide, we will show you how to use the 🔹Metafarming Tab to earn from the R-Planet tokens you own. There are two ways to do this here.
The first is to add liquidity to trading pairs — AETHER/WAX and RDAO/WAX on DEFIBOX.
Before you go forward you should know that you will transfer to the DEFIBOX platform, both tokens of the chosen pair in the proportional quantity, according to the current exchange. Yet when you claim them back the number of tokens can differ: during price fluctuations the amount of the first token can increase while the amount of the second token decreases and vice versa. This is called “Impermanent Loss”. You should do some more research on this if you are unsure as to what it is.
As a confirmation of your action, and a guarantee that later you will be able to get your tokens back, Dexibox will distribute you a certain amount of LP tokens (Read more here). You can think of this as a “receipt” of sorts.
Next you’ll stake those LP tokens in the R-Governance Metafarming Tab and receive a reward in RDAO. Let’s check how to do it step by step.
- To add liquidity go to https://wax.defibox.io/ and choose a necessary pool, for example, RDAO/WAX
2. Choose the Liquidity Tab, top right.
3. Press “Add Liquidity”
4. Choose a number of tokens you would like to add to liquidity (the amount of paired tokens will be changing automatically, according to the exchanging rate).
5. Go to Metafarming on the R-Planet website, https://rplanet.io/lpmining, choose an appropriate pool there, in our case it’s RDAO/WAX Farming, to add your LP tokens.
6. Fill in a number of LP tokens you would like to stake and confirm the action.
That is all, now your LP tokens are mining RDAO for you. Do not forget to claim your RDAO regularly and stake it right here in the Metafarming Tab into the RDAO Staking pool.
If you remember, we’ve allocated around ~900к WAX to the Fund of rewards for RDAO holders. So be sure to get your part!