The Contrax Vaults are where you can stake your ETH or other tokens for rewards in a few clicks.
Farming means exchanging your crypto into the one or two tokens of the liquidity pool in order to provide liquidity for trades.
Your crypto will essentially be the tokens listed in the vault. For example, if you zap your ETH into the dual WETH-USDC vault, your holdings will be similar to 50% ETH and 50% USDC. For providing liquidity, you earn an APY (annual percentage yield) on your holdings. The APY is not set by us and may vary over time. Contrax combines all your rewards back into the vault token for maximum rewards.
Users can enter and exit almost all vaults with just ETH thanks to our zapping contracts. Advanced users can enter and exit with the single token or the LP token if they wish.
How to join a vault
- When you go to Earn, this is what you’ll see. There is an APY column which shows the yearly increase at the current reward rate, the deposited amount if any, and the earned amount (coming soon). Note that you can switch between single and dual tokens with the toggle at the top.
- To enter a vault, go to the vault you want and click it open. You will see the USD value of your ETH balance. You can switch to seeing the actual token amount with the “USD” drop down next to “Max.” To deposit, just tap “Max” (or type in your USD value to deposit) and click “Deposit”. If you have a web3 wallet, confirm your transactions. Otherwise, just wait while it zaps, and you’ll see “Deposited!” within a few seconds.
- That’s it. Once deposited, you’ll see the USD amount under the “deposited” column. You can also see that “Max” does still leave behind some ETH to pay gas fees for transfers.
- You also go to the “Dashboard” and you can see your vault positions there too.
How to Withdraw
To withdraw, just toggle to “Withdraw” next to deposit, click “Max” and then withdraw. It will take a few seconds. If you have an external web3 wallet, confirm all transactions. Once done, your ETH balance will auto-update on the vaults page and on the dashboard.
To see more details about your staked and unstaked positions, the TVL of the vault, and your pool share, just click “More Details” on the Earn page. Note you can also toggle between zapping in with ETH and depositing/withdrawing with the actual LP. Do not do this unless you know what you are doing. If you do, you will have to deposit back LPthe same way in order to withdraw as ETH.