What Is Farming?

What Is Farming?

To answer the question «what is farming» very briefly, it is, first of all, an opportunity to make money. Are you interested? Then it makes sense to read this article entirely and carefully. Let’s figure out how to make money on farming and what cryptocurrencies are available for this on the first Free TON exchange.

The farming program on TON Swap, which worked from the start of the project until August 28, 2021, has been extended. It is now possible to invest in the liquidity pool and get up to 170% per annum.

Yield farming

Yield farming is when you send cryptocurrency as grains into the ground (to the decentralized service liquidity pool) and then reap the fruits grown (interest).

This is because a decentralized exchange is designed to exchange one token for another. Anyone who wants to exchange their cryptocurrency can use the exchange and do it for a small fee by choosing a suitable pair from the pairs offered for exchange. But for the exchange to be available, there must be those who will provide the exchange with such a token pair by sending them to the exchange account. 

So, those cryptocurrency holders who will invest a couple of tokens in the exchange liquidity pool for a while getting a reward from the exchange. This reward is a kind of marketing program aimed at attracting depositors and increasing the liquidity of the asset. The latter is farming.

TONSwap.io — exchange pairs

As of today, the following cryptocurrencies are available for exchange at the first operating decentralized exchange TONSwap.io of the Free TON ecosystem: ETH, BTC, USDC, USDT, and UNI.

WTON is a «wrapped» TON Crystal that can be sent to other blockchains with which Free TON has a bridge. TON to WTON is converted by sending crystals to a specific wallet address in a 1:1 ratio.

After converting TON to WTON, WTON appears in your wallet. And then, it can be transferred to other blockchain wallets or sent to the exchange liquidity pool along with another cryptocurrency from the available pairs.

To farm on the TON Swap exchange, you need WTON and any other cryptocurrency listed on the exchange. The token pair is then converted into exchange tokens and transferred to the liquidity pool.

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