While we are expecting for Quipuswap, here are fascinating stats on Farming wXTZ on Ethereum. But the initial immediate environment for the inexperienced:
Back in January, StakerDAO started the wXTZ token and the Wrapped XTZ vaulting method on Tezos. From inside Galleon wallet, XTZ owners can collect their XTZ into a safe and borrow wXTZ upon their collateral 1:1. XTZs in the vault progress to get baking rewards and can be eliminated by burning wXTZ 1:1.
wXTZ is a FA1.2 token, and so owners before could simply trade them on Dexter. But last Friday, StakerDAO started the StakerBridge for wXTZ. With StakerBridge, wXTZ holders can propose their wXTZ from Tezos to Ethereum (and final again).
Once holders have wXTZ on Ethereum, they can fit liquidity providers to the wXTZ / ETH trading pair on Uniswap. “LPs” receive a percentage of the trading charges from that pair and can then apply their Uniswap LP tokens to “farm” StakerDAO governance tokens “STKR” from the Staker Farms deployed on Ethereum.
Now, this method apparently appears pretty tricky - and it is. We want to be ready to let somebody farm STKR directly on Tezos, but till there is a DEX on Tezos that allows fungible LP tokens, we are stuck with just being ready to do this on Ethereum. (Thus why we are all expecting that Quipuswap starts with liquid LP tokens).
Although those who have begun producing their wXTZ on ethereum this past week have seen massive returns, as of now (Friday afternoon PT), there is $1.5M of capital on the farm, and then return to those farmers is 375% APY. This is as good as it grows right now for those longing for improved yield on their XTZ.
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