We will tell you how to make a profit on farming in the Ethereum network using the Free TON↔Ethereum bridge.
Yield Farming (income farming, profitable farming) is one of the types of income for cryptocurrency owners. They provide a couple of tokens to the DEX or bridge liquidity pool and freeze them there for a while. During this period of time, their tokens are available for exchange to other users, which allows performing operations with tokens constantly, without waiting for the desired currency to appear.
Tokens And Wallets Required For Farming
In what wallets, applications, and with what currency we will work
We will provide a smooth token exchange for the Ethereum↔Free TON bridge, so we need wallets that support cryptocurrencies from both ecosystems:
- Crystal Wallet, updated to the latest version, from the Broxus team, which will store TON Crystal and WTON. It is Broxus that is working on creating a bridge with Ethereum.
- MetaMask wallet for ETH and USDT. You can use any other wallet where ETH storage is available.
We use two applications as well:
- Ethereum↔Free TON Bridge
- Uniswap — the first Ethereum decentralized exchange to launch WTON trading.
Be sure to get acquainted with the work of the bridge and the exchange.
TON and WTON — how to purchase
WTON is a wrapped TON, that is, a TIP-3 token in the Free TON network. Its value corresponds to the value of TON Crystal in a 1:1 ratio.
Initially, we send TON Crystal tokens to the Crystal Wallet in any way:
- transfer TONs to the Crystal Wallet address from any other wallet;
- buy TON through the Chatex chatbot;
- buy TON on an exchange (for example, CEX.IO).
After TON appears on the balance of your wallet, transfer the part of it to WTON:
Step 1. Select Send in the wallet in the TON tab
Step 2. Fill in the fields in the appeared window
- address — specify the address of the WTON pool smart contract:
- amount — specify the desired amount of WTON with an increase of 1 TON intended for commission payment;
- confirm sending — Send TON;
- wait for the TON to be sent and WTON to appear on the account. It takes about a minute.
Step 3. Refresh the main panel in the wallet and verify the successful transfer and the appearance of a new icon with appeared on the balance WTON
How to send WTON to MetaMask wallet
When the Crystal Wallet account has WTON, tokens can be sent to the Ethereum network by topping up the MetaMask wallet balance:
Step 1. Select WTON Crystal Wallet on the main page and then Send
Step 2. Fill in the lines in the appeared window. The recipient address is the address of your MetaMask wallet.
Step 3. Go to MetaMask and add a new WTON token manually: select Add token/Custom token and enter the token address:
Click Next. In the next window, confirm the adding of the WTON token.
Step 4. Go to the Ethereum↔Free TON bridge site and connect the bridge to the MetaMask wallet
Step 5. Complete the sending of WTON in Crystal Wallet and confirm the transaction by clicking Execute in the list of completed transactions
Step 6. Go to the bridge page with the connected MetaMask wallet and select Check and broadcast to Ethereum
Step 7. Select Execute and pay the commission in ETH for the transfer from the MetaMask wallet. To do this, the wallet balance must have the required amount of ETH. How to purchase them, we tell in the next section
Step 8. The WTON token sent from your Crystal Wallet appears on your MetaMask wallet balance.
How To Connect A Wallet To The Exchange
To access farming, we need a pair of currencies USDT and WTON, as well as ETH — to pay the commission of the Ethereum network. All of them can be stored in the MetaMask wallet.
Buy the required amount of ETH and USDT on the CEX.IO exchange or through the Chatex chatbot.
Connect MetaMask to the Uniswap exchange, for which we select Use Uniswap on the main page of the exchange, and Connect to a wallet in the appeared window. Select MetaMask from the list of wallets. Finally, go to the MetaMask wallet and allow the connection to the site.
The exchange page displays a part of your wallet address and the token balance.
Adding liquidity to the Uniswap pool
Send your WTON and USDT tokens to the Uniswap exchange liquidity pool.
Step 1. On the exchange page with the MetaMask wallet connected, in the upper left corner from the list of actions, select Add and then Add liquidity
Step 2. Select the WTON/USDT pair and specify the amount to send to the pool. Below is the ratio WTON/USDT and USDT/WTON, so fill in either of the lines (WTON or USDT), and the second will be calculated automatically. It is clear that both tokens will be sent to the pool
The commission for sending tokens to the pool will be deducted in ETH, so you must have the necessary amount on the MetaMask wallet balance.
Confirm actions in MetaMask, allowing Uniswap access to a pair of tokens from your wallet.
Step 3. If the operation is successful, the Supply button will become available. Click and confirm the sending of a pair of tokens to the exchange liquidity pool.
After some time required to process transactions, your WTON and USDT tokens are added to the liquidity pool. They are visible on the page of the exchange and in the wallet.
You get LP Uniswap-V2-USDT-WTON tokens, your position in the liquidity pool is also reflected. The token address is
Yield farming: making it more profitable
If you leave the LP tokens on the Uniswap exchange, the earnings on farming will be less than if you send them to the Free TON network. Therefore, new LP tokens need to be transferred across the bridge in order to earn from farming the bridge’s work.
Step 1. Go to the Free TON↔Ethereum bridge page, select ETH-TON and Uni-V2, specify the number of tokens to transfer. Click Next.
Step 2. Copy the address of the TON wallet to Crystal Wallet, enter it in the required field on the bridge page, click Next.
Step 3. Go to the sending confirmation page, select any of the proposed options, click next and confirm the sending to MetaMask.
Step 4. On the Check and Execute page, select Transfer tokens. Click on the Open Crystal Wallet page and go to the wallet.
Step 5. In the opened window, confirm the actions and receive tokens on the balance of your wallet. In the opened window, confirm the actions and receive tokens on the balance of your wallet.
Step 6. Send tokens to Yield farming smart contract address — 0:
Step 7. After the end of the farming, the return of tokens to the wallet is carried out by sending 1 TON to the address of the farming smart contract — 0:
cef1ddfd105b28e188be6787952507328eedb304c53cda9d5319497d96d59039with the comment — te6ccgEBAQEABgAACBL0A3A =
You will get back LP tokens, TON, and the commission earned from farming.
A step-by-step guide to Yield farming is also available in video format.