PolyCrystal Yield Cycle: Maximize Your $CRYSTL Earning Potential 💎💲
Strategy for making the most of your $CRYSTL yield farming.🚜
$CRYSTL Farming 💎
PolyCrystal has quickly become one of the biggest yield farms on the Polygon Network, and thousands of users have bought and staked $CRYSTL in our many $CRYSTL farms and pools. 💧
However, a lot of users aren’t using their $CRYSTL to it’s maximum potential. $CRYSTL isn’t a speculative asset such as Bitcoin or Litecoin; it is instead a yield generating asset. By using the method described below, you can greatly increase your $CRYSTL earnings by cycling your yield farm earnings. This is just one strategy of many available and not financial advice, but it is helpful for many new DeFi users. 😁
Yield Farm Cycle 🔃
In short, the purpose of this strategy is to create a cycling flow of $CRYSTL earnings that goes into a non-native asset $CRYSTL staking pool ($ETH in this example) that in turn earns more $CRYSTL to further continue the cycle and further increase rewards. The best part about this process is that it doesn’t require the selling of any of the tokens farmed and doesn’t create any sell pressure on the native asset.
Step by Step
- You will first need to create an ApeSwap LP through app.apeswap.finance and stake the LP in a PolyCrystal Mine (full walkthrough: https://kingofcrystals1111.gitbook.io/polycrystal-finance/product-information/farms/farm-walkthrough).
- Next, you harvest the $CRYSTL from your mine and add it to the $CRYSTL manual pool (full walkthrough: https://kingofcrystals1111.gitbook.io/polycrystal-finance/product-information/pools/usdcrystl-pool-walkthrough)
- The earnings from the $CRYSTL pool are then put into the $ETH $CRYSTL staking pool for your $CRYSTL to earn $ETH (Note: this can be done with any $CRYSTL staking pool, but $ETH was used for this example).
- Take the $ETH yields from this pool and stake them in the $ETH Gem Pool for your $ETH to earn $CRYSTL.
- You then take the earned $CRYSTL and stake it back in the $CRYSTL manual pool to earn even more $CRYSTL
- Repeat the process to drastically increase your $CRYSTL rewards over time
Why Use this Strategy?
Using this cycle allows you to generate $CRYSTL and $ETH at a compounding rate while keeping your principle LP secure, which is perfect for stable pools, without having to sell any of your assets! 💲💎
For any other questions on PolyCrystal, please see our documents page: https://kingofcrystals1111.gitbook.io/polycrystal-finance/