Earn
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Last updated
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One of the most popular use cases for DeFi collateralized lending protocols is yield farming. In order to maximize the yield, you can repeat the process of depositing and borrowing to increase your position. However, this requires you to repeat multiple transactions and pay high gas fees. Exiting the position also requires multiple transactions.
BiFi X Earn lets you maximize your leverage for yield farming in a single transaction. It also lets you monitor the performance of your position and exit your position in a single transaction.
If you deposit 1 ETH and select 4X boost, BiFi X adds 4 ETH in flash loans to deposit and make the total deposit 4 ETH (4X). It then borrows 3 ETH to repay the flash loan. You end up with 4 ETH in deposits and 3 ETH in borrows — earning BiFi rewards for 7 ETH worth, instead of 1 ETH you started with. Read below to see how you can start a Earn position.
Allocation of BiFi Reward is calculated based on the total liquidity of the market. Check the current rates here.
Final amounts of deposit and borrow may vary depending on the fees and slippage.
You can easily start a leveraged position for yield farming. To start, click Earn on BiFi X.
Deposit APY
Current APY for deposits
Borrow APY
Current APR for borrows.
BiFi Reward
Current BiFi Reward APY for deposit and borrow.
Net APY
Net APY of deposit, borrow, and BiFi reward APYs, relative to your principal.
Net LTV
Loan-To-Value Ratio (LTV) of your position, which is the ratio of the value of your deposits to the value of your borrows.
1. Select the asset.
Click on the token symbol to select the asset you want to use for yield farming.
Only one asset is used to create deposit and borrow. This is the safest way to do yield farming, because it eliminates the risk of liquidation from price fluctuations. With single asset yield farming, the risk of liquidation is only from borrow interest becoming bigger than deposit interest, which takes a long time.
2. Set amount.
Input the amount you want to deposit. You can see the value of your deposit in USD based on the current price.
3. Set boost.
Select the level of boost you want.
Maximum boost is determined by the collateral ratio of a particular asset. See Boost Multipliers by Collateral Ratio.
4. Review expected results.
Once you set the asset, amount, and boost, you can see the expected result.
5. Start position.
Click Start Earn.
If BiFi X detects a possible revert in the transaction, it will not let you send the transaction. There are several reasons for a revert.
6. Manage position.
Once the transaction is confirmed, you can now manage your position.
