How to Use Yield Trees
Yield Treeing on ChimpySwap is easy!
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Yield Treeing in Yield Trees is a great way to earn CHIMPY rewards on ChimpySwap.
Unlike Chimpy Jungles, Yield Trees require you to stake two tokens to get LP Tokens, which you then stake in the Yield Trees to earn rewards. This lets you earn CHIMPY while still keeping a position in your other tokens!
Yield treeing can give better rewards than Chimpy Jungles, but it comes with a risk of Impermanent Loss. It’s not as scary as it sounds, but it is worth learning about the concept before you get started.
Yield treeing takes a little work to get set up.
You’re going to need some "LP Tokens" to enter into a Yield Tree with. Yield Trees can only accept their own exact LP Token; for example, the CHIMPY-BNB Yield Tree will only accept CHIMPY-BNB LP Tokens.
To get the exact LP Token, you'll need to provide liquidity for that trading pair. So to get CHIMPY-BNB LP Tokens, you'll first have to provide liquidity for the CHIMPY-BNB pair.
It may sound intimidating, but it's not too complicated. Let's go through step by step.
Before you proceed, you'll want to choose a Yield Tree that's right for you. Visit the Yeild Trees page and you’ll see a list of available Yield Trees.
CHIMPY-BNB and BUSD-BNB are pinned to the top of the list with the default Hot sorting. After the pinned Yield Trees, Hot will show other Yield Trees in order of how new they are.
You can choose another sorting option if you like, such as by APR for the Yield Trees with the highest reward rate currently.
When you find a Yield Tree that you'd like to use, note down the trading pair, e.g. CHIMPY-BNB in case you need it later.
Now that you've found a Yield Tree to stake in, you will need to add liquidity to get your LP Tokens.
- 1.Click on the row of the Yield Tree you've chosen from the list. It will open to show more details.
- 2.On the left, you'll see some links. Click the Get (your pair) LP link.
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This will open the Add Liquidity page for your Yield Trees pair. We have a guide to adding liquidity you can follow to get your LP Tokens.
Now that you have your LP Tokens, you’re ready to start staking them in a Yield Tree and earning rewards!
- 1.Go back to the Yield Tree page and locate your Yield Tree. Click anywhere on the row showing your pair. It will expand to show more details.
When you’re ready, click the Enable button and confirm your action in your wallet.
- 1.After a short wait, the Enable button will change to Stake LP. Click it and a new window will appear.
Type the amount of LP Tokens you would like to farm with into the field, or just click Max to use all of your LP Tokens.
- 1.When you have the amount entered, the Confirm button will light up. Click it. Your wallet will ask you to confirm your action.
- 1.After a short wait, the window will close, and you will see your new staked LP Token balance in the details.
You may decide you would like to add more LP Tokens to a Yield Tree at a later date, or to take some out of a Yield Tree. You can do this very easily whenever you'd like.
- 1.Return to the Yield Trees page. At the top of the page you'll see a Staked only toggle. Click the toggle.
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You should now only see the pairs you have LP Tokens in on the list, making it easier to find your Yield Tree.
- 1.Find the Yield Tree you have LP Tokens in, and click the row to view details. You will see a - and + button on the right-hand side. Click - to remove LP Tokens, or + to add more LP Tokens.
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- 1.A window will open that looks like the one you used earlier to first stake your LP Tokens. Like last time, type the amount you would like to unstake/stake, or click Max to remove/add all available LP Tokens.
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- 1.Make sure your information is correct. When you are ready, click the Confirm button and confirm the action in your wallet.
- 2.After a short wait, your new balance will show in the details section of your LP Token pair. If you've unstaked your LP Tokens, any unharvested rewards you had will automatically have been collected.
Farming will bring you CHIMPY rewards over time. You can collect these rewards and use them to get more LP Tokens, stake them in Chimpy Jungls, use them to play Lottery, or anything else you’d like.
You can harvest your Yield Tree and rewards together from the Home page. If you'd like to collect your farming rewards only, follow along.
To collect your rewards, you’ll need to visit your chosen Yield Tree and collect the CHIMPY waiting for you.
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- 2.Find the Yield Tree you staked your LP Tokens in, and click the row to view details. You should see an estimate of your rewards under “Chimpy earned”.
- 1.Click the Harvest button and confirm the action in your wallet. After a short wait, the CHIMPY will be claimed to your wallet for you to use as you like.
How often you harvest your rewards is up to you, but it does help to remember that there is a small fee involved in harvesting.
You can see this fee in your wallet when confirming after clicking Harvest.
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This shows the fee for harvesting as it appears in the MetaMask wallet. Different wallets will show the information a little differently. Consider leaving your rewards to grow for a while so you pay fees less often.
And that's all there is to it! You may also want to look at how to use ChimpySwap Syrup Pools to earn rewards.
Happy treeing!
Last modified 6mo ago