Yield Farming with Swerve

Swerve is a fork of Curve that just launched on the 5th of September (https://twitter.com/SwerveFinance/status/1302063258195681282)

You can earn $SWRV (https://www.coingecko.com/en/coins/swerve) by depositing into the Swerve pool (USDT, USDC, DAI, TUSD) and staking your LP tokens (swUSD) into the gauge similar to Curve. You can also boost this rewards up to 2.5x.

  1. To start go to https://bafybeiaudy7h3gh2355hbpc5rrmx6n5s6ttwxphfeuxbsa5dkqojqhnnsi.ipfs.dweb.link/#/swusd/deposit

  1. After depositing your stablecoins, you’ll get swUSD. A sample transaction will look like this:

Depositing 1,142,090.88 $DAI gets you 1,157,167.10 $swUSD

  1. Next, go to https://bafybeiaudy7h3gh2355hbpc5rrmx6n5s6ttwxphfeuxbsa5dkqojqhnnsi.ipfs.dweb.link/dao/#/ and scroll to the bottom, you’ll see this:

  1. Click on Deposit and confirm the transaction, after you do the page will update to show this instead:

  1. You can then claim your $SWRV whenever you feel like it.

Go to https://bafybeiaudy7h3gh2355hbpc5rrmx6n5s6ttwxphfeuxbsa5dkqojqhnnsi.ipfs.dweb.link/dao/#/minter/calc and see how much $SWRV you need to lock up for 4 years to get a 2.5x. (You can choose the duraton, but the longer the time the lesser SWRV needed, which is why I recommend 4 years.)

As you can see here, for a $100,000 deposit, I need to lock 10.97 $SWRV to get a 2.5x boost.

To get this $SWRV, you can either farm it (slower) or buy it from the market, Uniswap link here : https://app.uniswap.org/#/swap?outputCurrency=0xb8baa0e4287890a5f79863ab62b7f175cecbd433

After getting your SWRV, go back to https://bafybeif3jgdqimyyuyr44o7kj2lxei7zph3ftiq6r3lmjlnvof757qkzyi.ipfs.dweb.link/dao/#/ and at the top you’ll see this

Adjust the amount to the amount you found in the Calculator (10.97 for a 100,000 deposit), adjust the lock time to 4 years. At time of writing that’s 6 September 2024. Create Lock

Once the lock is created, scroll to the bottom and click “Claim SWRV” to activate the boost.

Record the APY that is shown before you click claim and after. And you’re done!

PRO TIP: Go to https://debank.com/ and connect your wallet, and proceed to Portfolio to check your real time APY. Here’s a sample screenshot

As you can see here, the APY for SWRV is 432%

1 Like

I just do not understand why the lock up time is 4 years…
Would anybody explain that, please?