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Newly launched farms are popping up left and right in DeFi. Were here to keep you guys ahead of the crowd!
CompliFi is a newly launched derivatives protocol with a innovative token distribution.
As a new sponsor of ours, we are ardent supporters and have been farming for about 24h (inner circle linked in the P.S. knew about this).
In todays post, we outline how you can get started.
A step-by-step guide to start farming $COMFI. This is definitely RISKY and anytime you see insanely high rates be careful of everything, DYOR and make sure you are playing smart.
NOTE: CompliFi IS a sponsor of DeFi Slate as of recent and we are owners of $COMFI tokens and are currently staking in the ETH/COMFI LP pool. DYOR before investing anywhere.
P.S. We’ve just launched our DeFi Degen Community, think of it as an inner circle to getting in early and being on top of all things DeFi. DeFi literally changed my entire career path and life. Read about my story and how you can join us…Its starting to grow steadily…read about it here.
🙏 Big Ups To Our Great Sponsor Aave: Earn Interest & Leverage Your Assets with Aave; a non-custodial money market protocol leading the #DeFi charge.
ALPHA LEAK: CompliFi Farming Launch
Step 1: Educate yourself on what CompliFi is & what is happening
In order to start farming, you need to deposit your tokens at app.compli.fi/farm. We are choosing to do the LP pair, so COMFI-ETH pair. So you’ll need to accumulate COMFI & ETH, otherwise you can choose to get into the derivatives pairs. FWIW we think the ‘Up’ tokens are a decent bet, but hey Up or Down tokens.
So first you have to setup proxy at the top left corner (semi-gas intensive $100 at current 36 gwei level):
Step 3: Head over to the COMFI-ETH LP pool (IF YOU WANT TO DO THIS POOL, IT DOES CARRY RISK OF IMPERMENANT LOSS)
Step 4: Click the COMFI-ETH pool link, this will bring you to Uniswap info page. Make sure you have an equal amount of COMFI:ETH to LP so say 1 ETH & 95 COMFI tokens. You can click the ‘Trade’ button to trade some ETH for COMFI.
Step 5: After obtaining equal amount of tokens, click the ‘Add liquidity’ button to add the equal amounts of tokens on Uniswap.
Step 6: After you approve COMFI, and add liquidity head back to the CompliFi website and approve/deposit the LP tokens into the pool.
And that is it, you can claim your 1/3rd rewards at the top of the website when you are ready, then you can compound your LP position or take profits! Enjoy!
👀 Sponsor Update: mStable provides an autonomous and non-custodial infrastructure for pegged-value crypto assets. Earn maximal APY on mUSD and mBTC by collecting fees generated on lending protocols!
It’s harvest season. Farm like a pro on mstable :)
⚠️ DISCLAIMER: Investing into cryptocurrency and DeFi platforms comes with inherent risk including technical risk, human error, platform failure and more. At certain points throughout this post, we might get commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.
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