Yield farming is a hot topic in the crypto-space and I believe that most of you have already heard of it or participated in Yield farming. Yield farming only hit my radar in the final days of the 'YFI' craze and I have been yield farming ever since, switching to new tokens and new pools. Some tokens ended up being extremely valuable (like 'YFII') and others tanked to 0 or have been an absolute failure. I'm writing this quick guide on how to yield farm 'YFV'.

I am yield farming this token myself and I believe that there's longterm value in this token. But please do not jump into without doing your own research first. I am not affiliates with this token nor am I affiliated with the devs. Always do your own research first!

The best place to do your own research about 'YFV' is by reading their medium articles. Yield farming is dangerous and most of the time, the smart contracts aren't even audited. There have been a few bugs in the smart contracts, but the devs are very transparent and are quick to solve the issues. This is one of the reasons why I do yield farm 'YFV' even though the risks.

Step 1. yfv.finance

In order to start yield farming 'YFV', we'll have to go to their website yfv.finance. When you arrive on their website, you will have to connect your wallet. I recommend using MetaMask.

This post is only a step-by-step tutorial on how to yield-farm. I'm not going to cover every single detail of the website. At the top of the website, you'll see how much total value is locked into the smart contracts. This is the total amount of yield farming that is being done. Next, you'll see the current price of 'YFV', the distributed supply, and total supply.

Step 2. Choose your pool

On the website, you'll see all the pools that are available for yield farming and their respective yield. Currently, the Balancer and KNC pools have the highest yield. The safest pool is the seed-pool because you don't have exposure to the 'YFV' token. The final pool (YFV pool) has a bug and needs to be resolved, DO NOT FARM THIS POOL.

I am farming in the LINK pool. I HODL a lot of LINK and I am very bullish on the price. I also don't mind the 2% exposure to the YFV token.

Step 3. Go to the Balancer pool

Once you've chosen your pool, you will have to head towards the respective Balancer pool. It's easily linked on the website and you can just click on it.

LINK/YFV Balancer pool: https://pools.balancer.exchange/#/pool/0x4B0b0bF60aBbF79a2Fd028e4d52ac393982488Ce

Step 4. Add liquidity

You will need to add liquidity to the pool. The ratio is 98% LINK / 2% YFV. You can manually add both tokens or choose to only add a single asset. When you choose to only add a single asset (LINK in this example), the pool with automatically convert 2% of your asset into YFV.

There will be a few GAS fees associated with this.

1. Unlock token: Allow Balancer to spend your token (LINK)
2. Add liquidity

Once you've added liquidity on Balancer, you will now have BPT tokens. We need to stake these tokens on yfv.finance.

Step 5. Stake your BPT

Go back to yfv.finance and click on the pool you choose. Now you just need to click on the stake button, approve the transaction and you're done! There will be two transactions. The first transaction is to allow the contract to spend your BPT and the second transaction will be to stake your BPT tokens.

Congratulations! You are now yield farming YFV

More info

A full list of actual GAS fees

1. Unlock balancer token (approve spending limit)
2. Add liquidity
3. Allow yfv.finance to spend your BPT
4. Stake BPT token
5. Claim YFV rewards (harvest)
6. Approve YFV spending limit on Uniswap (selling the token)
7. Swap YFV for ETH/LINK/USDT (selling the token)
   Total ~$25 GAS fees

Token info

• Token Adress: 0x45f24BaEef268BB6d63AEe5129015d69702BCDfa
• Uniswap: https://uniswap.info/token/0x45f24BaEef268BB6d63AEe5129015d69702BCDfa
• Coingecko: https://www.coingecko.com/en/coins/yfvalue

Article update

1. I updated step 5. There are 2 transactions taking place to stake your BPT, which I didn't clarify at first.
2. I updated the actual list of GAS fees. The old list didn't include "3. Allow yfv.finance to spend your BPT".