Home Bitcoin & Crypto Guide How to Farm and Stake Into the Raydium Platform

How to Farm and Stake Into the Raydium Platform

This guide contains detailed steps on how to use the farm, stake, and NFT launchpad features of the Raydium platform.

How to Farm and Stake Into the Raydium Platform

The Raydium platform is a famous AMM on the Solana network that allows users to perform DEX services at a cheaper and faster rate.

In the previous part of this article series, we explained how this platform is different from other AMMs, AND how you can trade, swap, and add/remove liquidity into the Raydium platform. In this part, we will discuss the farming, staking, and the NFT launchpad features supported by the platform.

Farm Pool

Raydium farm pools allow the users to deposit their liquidity pool tokens and earn additional rewards. You will find that the farm pools are either Raydium or Fusion pools. The Raydium pools offer RAY tokens as rewards whereas, in Fusion pools, users can get the project tokens as a reward. You may also find some pools that offer you dual rewards.

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Check the list of all farm pools here.

Stake in Farm Pool

To participate in any farm pool, users need to stake their LP tokens into it. We have some RAY-SOL LP tokens in our wallet that we will deposit into the farm pool.

Select the farm pool from the list that can accept your LP tokens. You will find the Stake LP button.

Click on it, and a window will pop up where you need to enter the amount of LP tokens that you wish to deposit into the farm pool.

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Confirm the process. You can see your staked LP tokens details once the transaction is done. Your rewards will accumulate and show in the Pending Rewards section. You can harvest (withdraw) it separately or withdraw automatically along with your staked LP tokens when you choose to unstake your locked asset.

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If you wish, you can add more tokens to your staked balance by again clicking on the Stake LP button.

Unstake From Farm

Users can unstake (partial/complete) their tokens from the farm pool at any time. There is no locking period.

To unstake, click on the minus sign (see above screenshot). The unstake window will open where you can enter the amount of LP tokens that you wish to withdraw.

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Confirm the process. And your staked LP token balance will reduce (partial withdrawal) or become zero (complete withdrawal) in the dashboard.

Stake RAY

RAY token holders can stake their tokens into the platform and earn a reward with an APR of 18.87% (at the time of writing the article).

To stake, just head towards the Staking section. You will find the Stake RAY button. Click on it.

Next, the application will ask you to enter the amount of RAY tokens that you wish to stake. Confirm the process.

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Once the transaction is done, you can see your deposited RAY tokens in the Staked balance.

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The earned rewards will be shown in the Pending Rewards section.

Unstake RAY

To unstake your tokens, click on the minus sign (see above screenshot). Now enter the amount of RAY tokens that you wish to withdraw and finally confirm the process.

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AcceleRaytor

AcceleRaytor is a launchpad by Raydium that allows the new crypto projects to launch their tokens on the Solana ecosystem and raise funds for their development.

The project launch generally happens via pools where eligible candidates participate and claim project tokens by depositing the funds allocated to them.

As you can see from the below screenshot, the launchpools are categorized into RAY, Community, and Private pools. Users are required to hold a certain amount of platform tokens to mark their entry into a particular pool.

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DropZone

DropZone is an NFT launchpad platform on Raydium whose goal is to promoting the growth of NFT projects on Solana. It provides infrastructure that helps and supports the launch of new collectibles. The platform will allow the NFT projects to raise funds, build communities, and distribute their collectibles.

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Migrate

The Raydium platform contains a migration portal that will help V3 liquidity pools providers to migrate their liquidity to the new V4 AMM contract in support of the underlying protocol migration. Liquidity providers of the pools RAY-SOL, RAY-SRM, RAY-USDC, and RAY-ETH can use this portal to carry out this activity smoothly.

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Users can also use the same portal to migrate the liquidity in legacy DEX2 pools to new pools to support the upgrade from Serum DEX2 to DEX3.

 

Resources: Raydium

Read More: Top 10 Use Cases Of Blockchain Technology (Part 1)

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