How To Farm, Stake, And Manage Rewards On Ruby.Exchange
This is the third of a three-part blog about using Ruby.Exchange. This blog details how to stake LP tokens to yield farm, stake and lock RUBY, and manage all farming and staking rewards.
Yield Farming On Ruby.Exchange
Once you’ve deposited liquidity to Ruby’s pools, you can stake your LP tokens in Ruby’s farming contract to earn rewards. Start by selecting Farm from the menu.
Then, select an entry for which you have provided liquidity. You will see your available liquidity provider (LP) tokens displayed. Enter the amount you want to stake or click Max, then Stake, and confirm the transaction when prompted by MetaMask.
After a short time, you will start to see rewards accruing. To access these, you will need to click the Vest button. This begins a three-month vesting process, after which the rewards will be available to Claim through the dashboard (Profile -> Manage RUBY).
How To Stake and Lock RUBY
Go to Profile -> Manage Ruby to manage your vesting yield farming rewards and to stake or lock RUBY.
At the top of the page, you’ll find a summary of all your farming and staking positions.
There are two options for single-sided staking:
1. You can Stake your RUBY. You will receive a share of 0.04% of every trade made on Ruby.Exchange. Your tokens can be unstaked at any time.
2. Lock your RUBY for three months to receive a share of trading fees, and additionally a share of the early-exit fees paid by yield farmers who want to access their earnings before the three-month vesting period is over.
In both cases, rewards are streamed in real time and can be accessed straight away, but if you lock RUBY then your initial capital cannot be unlocked for three months. After this period is up, your tokens will continue to generate rewards unless you withdraw them.
Simply enter the amount of RUBY you want to deposit in the relevant box, and click Stake or Lock. Then follow the prompt to confirm the transaction using MetaMask. Your RUBY will immediately begin to accrue rewards.
Accessing Your Rewards
The RUBY dashboard enables you to withdraw all the different types of rewards you can earn on Ruby.Exchange.
Locked and Vesting RUBY
The top box on the right hand side enables you to manage vesting RUBY rewards, as well as withdraw staking RUBY.
- Withdraw unlocked staked RUBY. The first entry shows the amount of RUBY you have staked. Completed farming vests are also included here. These tokens can be accessed at any time using the Claim button.
- Withdraw vesting RUBY early. The next entry displays your current RUBY vests — claims for yield farming earnings you have started but that have not yet completed the three-month withdrawal period. You can still access these by paying a 50% early-exit fee. Clicking Claim All will withdraw these rewards, as well as unlocking any completed farming vests you have, and unlocking any staked RUBY.
- Finally, if you have RUBY that has been locked for more than three months, it can be withdrawn using the Claim button at the bottom of this box.
Current Farming Vests And Locks
The next box displays all of your yield farming claims that are currently in the process of vesting, with the time and date of expiry for each. These will become available after three months, or can be accessed early by following the process above.
Below that, you’ll see entries for each tranche of RUBY you have locked, and the point at which the three-month period comes to an end.
Withdraw Claimable Fees
The last box on the right hand side displays two categories of fees that users who stake and lock their RUBY receive.
The first line is the penalty fees that users who lock their RUBY tokens receive, paid for by yield farmers who want to access their rewards before the end of the vesting period.
The second line is the portion of regular trading fees paid to users who lock or stake RUBY.
These rewards can be claimed immediately using Claim All, without any penalty.
Ruby.Exchange Is Live!
Ruby is now live in beta. Please send us any feedback you have, let us know about any bugs you find, and help us to refine the platform.
- Learn more Bridging and Swapping tokens on Ruby.Exchange
- Learn more about Providing Liquidity to Ruby’s XY=K and StableSwap pools