Earning DES through QuickSwap’s DES Dragon’s Syrup pool: A Tutorial
We’re super excited to announce that Despace is launching our very own farming pool on Dragon’s Syrup — QuickSwap’s new ultra capital efficient farming platform. In this article we’ll explain how you can start putting your DES to work to earn even more DES w.
Keep in mind that while there’s a few steps involved in this process, they’re all very simple, and due to QuickSwap’s near-zero transaction fees the entire process can be completed at next to no cost.
How to start earning DES on QuickSwap
1. Go to the Quickswap Exchange and navigate to ‘Pool’ at the top of the site.
2. To begin earning QUICK tokens, provide DES as liquidity in the DES/QUICK pool. As your QUICK rewards start rolling in, make sure to claim them to continue.
3. With your earnt QUICK token in your wallet, now hover over ‘Farms’ and click on LP Mining.
4. Click on ‘Manage’ in the Dragon’s Lair section of the page.
5. From here deposit your desired amount of QUICK to receive dQUICK. You will need to click ‘Deposit’, ‘Approve’ and then ‘Deposit’ to finalize the transaction. *Note: as you earn more QUICK, you can return here to swap it for more dQUICK.
Figure 1: Please note that the percentage of dQUICK you receive for your QUICK will depend on the APY% at the time of staking and that this will also apply if you eventually swap your dQUICK back to QUICK.
6. With your dQUICK in your wallet, you can now start earning DES.
7. Navigate once again to the ‘Farms’ tab on Quickswap, but this time select Dragon’s Syrup.
8. Scroll through the available assets until you find the DES pool, and click Deposit. Enter the amount of dQUICK tokens you’d like to stake to start earning DES on. Click ‘Approve’. When the transaction is confirmed, click ‘Deposit’.
9. Hey presto! You’re earning DES on your dQUICK — which can be withdrawn at any time. Congratulations!
10. To compound your yield, transfer your earnt DES into the DES/QUICK pool to earn more QUICK, which you can use to earn more dQUICK and in turn more DES.
And so the cycle repeats. We’re truly witnessing the future of DeFi unfold before our very eyes. Thank you for helping the DeSpace ecosystem grow!
About QuickSwap
QuickSwap is a next-gen Layer 2 DEX powered by Matic Network that lets you trade at lightning-fast speeds with close-to-zero gas fees. Learn more about QuickSwap on their Medium.
About DeSpace Protocol
DeSpace Protocol is the most advanced DeFi and NFT navigation tool to date. We empower users with a range of DeFi and NFT products from around the crypto ecosystem, including our own products, all from a single interface. DeSpace is supported by DeChain, our Layer-2 blockchain solution that connects the disparate chains and allows easy transactions across a number of bridges. Every time a user transacts, they are rewarded with DES, our native token which also unlocks a massive amount of utility within the platform.
DeSpace takes the best of DeFi and NFTs and combines them into a single, easy-to-use platform that rewards users.
Learn more about DeSpace Protocol👇
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