How to Use Farms
Find, Provide LP, Fram
Last updated
Find, Provide LP, Fram
Last updated
Yield Farming in Farms is a great way to earn CAKE rewards on PancakeSwap.
Farms require you to stake two tokens to provide liquidity and receive either a liquidity position NFT or LP Tokens, which you then stake in the Farm to earn rewards. This lets you earn CAKE while still keeping a position in your other tokens!
Yield farming can give better rewards than Syrup Pools or single token staking, but it comes with a risk of Impermanent Loss. It’s not as scary as it sounds, but it is worth learning about the concept before you get started.
Check out this great article about Impermanent Loss from Binance Academy to learn more.
Now with Universal Farm Page, you can find liquidity pairs by tokens, check their fees, volume, APRs, across all the PancakeSwap supported networks, without the need of switching networks in the wallet.
Head to: https://pancakeswap.finance/liquidity/pools to start
All the liquidity pools/pairs that are trending, or have a PancakeSwap farm attached.
All the liquidity positions you have.
All the legacy farms. If you don't find your previously staked farms in "All Pools" try searching here.
On default the page shows farms and tokens from all the supported chains. Use this drop down to filter pools by networks/chains.
Use this dropdown to filter pools by by tokens.
Use this tab to filter pools by DEX type.
Click the arrow button on APR, TVL, or VOLUME 24H to order the pools with the selected metrics.
Sections for bCAKE - farm yield booster. Learn more
Use this link to go back to the legacy farm page if you head into any issue with the new version.
Once you find a pair to provide liquidity, click to go to the detail page to check on more info like:
TVL
Volume
Fees
APR
Your Existing Positions
To create an LP, click "Add Liquidity +" and follow the instructions here:
Once liquidity is added, they will appear in the upper right table. Or in the "My Position" tab.
For V3, simply click "Stake" to stake your position and start earning CAKE. As in V3 users can create multiple positions, you can repeat the above steps to stake multiple positions with different price ranges.
For V2 and StableSwap, after clicking "Stake", you need to specify the amount of LP tokens to stake. In most cases you should stake 100% of your LP tokens to maximise your yield.
In the new Universal Farm Page, locating all your farming positions has never been easier. Simply go to "My Positions" and click "Farms only" in the top right corner. All the farming positions will be filtered, regardless of which network you are selecting.
Just like the list of pools/pairs, you may use the toolbar to filter positions by networks/chains, tokens, and DEX type.
To harvest CAKE rewards from a staked position, simply click "Harvest" and confirm in your wallet popup.
If you have multiple staked positions, you need to harvest them separately.
In V3, when staking in a farm, you can still add or remove liquidity without unstaking.
To do so, simply return to the "My Positions" page, and position you want to adjust.
Click on the position title with the token pair, and position ID to open up the position detail page.
Simply use the “Add” or “Remove” button to adjust the liquidity in the staked position.
Please note that all the unclaimed CAKE rewards will be harvested and sent to your wallet while adjusting your position.
You can unstake a position at any time.
To unstake, simply return to the "My Positions", locate the position, and click:
"Unstake" (for V3 positions)
"-" (for V2, StableSwap LPs), and then select the amount to unstake
Then confirm in the wallet pop up. After a short wait, your position NFT or LP tokens will be returned to your wallet, along with all the pending CAKE rewards.
How often you harvest your rewards is up to you, but it does help to remember that there is a small fee involved in harvesting.
You can see this fee in your wallet when confirming after clicking Harvest.
This shows the fee for harvesting as it appears in the MetaMask wallet. Different wallets will show the information a little differently. Consider leaving your rewards to grow for a while so you pay fees less often.
Happy farming!
