Last week we announced the full-stack partnership with Harmony, including the $4M in incentives for liquidity mining and Kashi lending. Not to mention, the $1M in Hackathon incentives which will focus on onboarding software engineers from traditional finance to DeFi. Today, we will show you how to participate in the upcoming liquidity mining event on Harmony.
This post will break down how you can:
- How to add the Harmony Network to your Metamask
- How to use the Harmony Bridge with Sushi
- How to Yield Farm on Sushi via the Harmony network
We’ve also included a simple infographic to use as a quick reference, here.
In order to access the incentives from Harmony, you will need to ensure that you are connected to the Harmony network. Your cryptocurrency wallet will normally default to connecting to the Ethereum network, but can function with multiple. For the purpose of this tutorial, we will focus on the Metamask wallet.
Step 1: Go to app.sushi.com
Step 2: Connect your wallet
Step 3: Click the button that says “Ethereum” in the top right-hand corner
Step 4: Select the Harmony Network and if you don’t see it, complete the steps below
Step 5: Approve the switch in your wallet, and done!
As most with most L2 Solutions, Harmony offers the opportunity to the Ethereum network’s Dapp powerhouse at a fraction of the transaction speed time and price. This means faster transactions for you, at a much cheaper price. Your Ethereum assets will not automatically switch to L2 chains, unfortunately. To use your existing Ethereum assets on L2 solutions, like Harmony, you have to transfer them to the new network via a network bridge.
If you’d like to use your existing assets on Sushi via the Harmony network, please use the following steps as a guide to successfully transfer your Ethereum cryptocurrency tokens to Harmony.
Step 1: Access the Harmony Bridge: https://bridge.harmony.one
Step 2: Click on the button ‘Connect Metamask’
Step 3: A pop-up page should appear for you to confirm which wallet you want to connect from. Selected the desired wallet and click ‘Next’
Step 4: Click ‘Connect’ and you’re done!
You can now bridge your assets to the Harmony network!
Step 1: Go to app.sushi.com
Step 2: Switch your wallet’s network to Harmony — see the first part of this tutorial if you do not know how to do this
Step 3: Click the ‘Yield’ tab to check which farms are available on the Harmony network that you would like to join
Step 4: Click the ‘Pool’ tab
Step 5: Select the tokens for a valid token pair you wish to add liquidity to *Note, when adding liquidity to a pair, both sides of the pair need to have exact monetary value
Step 6: Add the amount of tokens you wish to add to the pool of the first token. The Sushi platform will automatically add the equal monetary value of liquidity to the second asset, given there is sufficient balance
Step 7: Approve Sushi to access your tokens from your wallet
Step 8: Click ‘Supply,’ then ‘Confirm Supply’ in the popup
Step 9: Approve the transaction and relevant fees from your wallet, you will now receive your liquidity pair or LP tokens
Step 10: Once the transaction approves, click the ‘Yield’ tab and click the yield farming pair you wish to join, you should see your ‘Wallet Balance’ now displays your received LP tokens
Step 11: Input the amount of LP tokens you wish to add to the farm or click ‘MAX’
Step 12: Click ‘Approve’
Step 13: Allow Sushi to spend your SLP tokens from your wallet
Step 14: Click ‘Deposit’
Step 15: Confirm the transaction and the relevant fees from your wallet and you’re done! Welcome to the farming life 👨🌾👩🌾🍣1️⃣🤍