Tutorial: How to Use the Amnis Farming Pool on Liquidswap
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Amnis Finance has partnered with Pontem to launch a yield farming pool on Liquidswap. These lucrative APRs will decreaseas more people join the farm, so read the tutorial to start farming ASAP!
What is Amnis Finance?
Amnis Finance is a new secure, user-friendly, and innovative liquid staking protocol on Aptos. Only 6 days after launch, it already ranked among the top 3 projects on Aptos with $14M in TVL. (Just behind Liquidswap at$23 million) Over 2 million APT have been staked so far. Amnis’s smart contracts were audited byMovebit.
Amnis Finance even placed second at Aptos’s Hack Singapore hackathon in the DeFi & Payments category.
Unlike Tortuga and Ditto, Amnis Finance has two liquid staking tokens: amAPT and stAPT. Both are listed on Liquidswap,whitelisted on Pontem Wallet, and pegged 1:1 to APT. So how are they different?
amAPT is mintedwhen you deposit APT in the Amnis dApp, but you can also buy it on Liquidswap. amAPT is a liquid stablecoin pegged to APT that can be used for various DeFi purposes, such as farming on Liquidswap. But simply holding amAPT doesn’t earn yields..
stAPT is the vault that accumulates staking rewards. If you stake amAPT, you’ll receive stAPT and start earning interest ( 7.44% APR at time of writing). The dApp has a handy Mint & Stake option that lets you deposit APT for stAPT. An added advantage is that Amnis doesn’t charge protocol fees on staking rewards.
Amnis Finance farm on Liquidswap1) The pool is amAPT/APT
If you are holding stAPT, you’ll need to unstake and redeem your amAPT first. Liquidswap doesn’t offer a farm for stAPT yet. Of course, you can also buy more amAPT on Liquidswap. Read on for a tutorial on getting amAPT/APT LP tokens.
2) The farm will run for 30 days with a possibility of renewal
There’s an initial lock period of 7 days. After that, you can withdraw LP tokens from the farm anytime.
3) You need to start farming now to get a higher APR
The APR goes down as the amount of liquidity in the farming pool goes up. That’s because the amount of APT allocated for rewards each week is fixed, like a pie you have to divide among more people.
So it’s better to join the farm as soon as possible. For a short while, the APR can be as high as 100% or more.
4) Earn double rewards
While your LP tokens are in the farm, you’ll earn both the farming APR and the liquidity provider APR for the amAPT/APT pool. Note, however, that you won’t be earning the Amnis staking APR.
How to farm with Amnis in Hydroponic Farms on Liquidswap
1) Get some amAPT
The easiest way to do this is to buy amAPT on Liquidswap for APT. It’s a stable pool, so the price is very close to 1 amAPT for 1 APT. Liquidswap will prompt you to register amAPT in Pontem Wallet first: this is a standard security procedure on Aptos. After you’ve confirmed the registration transaction, don’t forget the swap itself, too.
You can also stake APT on Amnis Finance to mint amAPT.
2) Add liquidity to the amAPT/APT pool
On the main Liquidswap page, click Earn → Farms to go to the list of active farms. Locate amAPT/APT and click on Add Liquidity. You’ll need to deposit equal amounts of both tokens.
Once you’ve deposited liquidity to the pool, you’ll find amAPT/APT LP tokens in the wallet.
See our earlier Liquidswap farming guide for more details.
3) Deposit LPs in the farm
When you return to the active farms page, you’ll see that the button that used to say “Add Liquidity” now says “Stake”. Click it, then Balance to deposit all your LPs in the farm.
Click Stake and confirm. Congratulations – you are now farming APT with Pontem and Amnis Finance!
4) Collect rewards
You can claim your farming rewards at any point, including during the initial 7-day lock period. Simply click Claim and confirm. The minimum claimable amount is 0.01 APT. You’ll be able to withdraw any remaining rewards even after the farm expires.
How to withdraw tokens from the farm
Remember that you can withdraw your LPs only once the initial 7-day lock period is over. Head over to the My Farms tab and click on Withdraw. If the button is grayed out, it’s because the lock period isn’t over yet.
Enter the amount of LP tokens that you want to redeem. If you have an active NFT boost and you want to withdraw everything, don’t forget to check the Unstake NFT box, too.
Important: rewards are NOT claimed automatically when you withdraw LPs. You’ll have to collect them manually, and the amount has to be higher than 0.01 APT.
That’s everything you need to use the new amAPT/APT farm! We’d love to hear your feedback on Telegram, so we can make Liquidswap farms even better.
Pontem is a blockchain product studio building for Aptos and the broader Move ecosystem. We work closely with the Aptos team to produce truly innovative and secure dApps and dev tools, including the Liquidswap DEX, Pontem Wallet, the first Solidity-to-Move code transpiler, ByteBabel, and Move Code Playground, the first browser code editor for Move.