The Pangolin DEX, built on Avalanche, makes fast and cheap transactions. Furthermore, it offers various forms of passive income. This includes liquidity pooling, farming, staking, and bonds. However, you can find the best yields on their farms.
It will come as no surprise that many pairs are with AVAX. Therefore, in this article, we look at the PNG-UST pair that currently gives a 115% APR in Pangolin.
Farm PNG-UST in Pangolin to Get 115% APR.
Pangolin is currently one of the best Avalanche DEXs. Although there are tokens that makeup to 350% APR, we explain how you can farm the Pangolin UST pair in their new Super Farm. Two easy-to-get tokens with a high yield on their farm.
Let’s take a look at where the highest yields are in Pangolin. For instance, staking PNG gives a 6% interest. On the other hand, liquidity pools give up to 20+% on a daily average.
FARMING IN PANGOLIN
In @pangolindex, you can farm with PNG – UST pair
✨Total Saked: $507.3K
✨Swap Fee APR: 3%
✨Super Farm APR: 150%
✨Total APR: 153%#TerraAnalytics #Farming #DeFi #cryptocurrecy pic.twitter.com/79lgCWQJxy
— Terra Valley (@terra_valley) April 2, 2022
For starters, follow these steps:
- Connect a wallet, like MetaMask. Make sure you connect it to the Avalanche Network. Here’s a link on how to set up MetaMask and add AVAX.
- Choose the PNG-UST pool, You must provide two tokens equally in the pool. So, of any amount of AVAX you have, you can swap 50% into PNG and 50% into UST. Make sure to adjust your gas fees in MetaMask. In our case, the PNG-UST farm is currently 115% APR.
- Provide liquidity to a pool, This will give you the Pangolin Liquidity Provider or PGL tokens. You need these to enter the Super Farms. Here’s an explanation of how to add liquidity. Click on the top of the page the ‘pool’ tab and once on the page, click ‘add liquidity’. Now you will see a list of pools, and you look for your preferred pool.
4. Receive the PGL tokens. They represent your share in the PNG-UST pool.
5. Deposit PGL tokens. Click on deposit PGL tokens and enter how many tokens you want to add. Approve the transaction and sign it. Now click deposit and confirm the transaction.
6. Withdraw tokens. Look for your preferred farm and press the “withdraw” button. Then, the contract will claim the PNG tokens for you. As the picture shows. You can take your PNG tokens also out without having to withdraw your PGL tokens.
In addition, this is all explained in this tutorial by Pangolin. Also, it tells you how to deposit the PGL tokens.
Source: Pangolin DEX
PNG Price Outlook
On the other hand, During the last 24 hours, the price of PNG was down by 4.4%. As a result, the token is trading at $0.2188. Also, about a year ago, in February 2021, PNG saw its ATH with $18.85. That means it’s currently down by almost 100%.
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