Three ways to earn with Beefy, VVS Finance, and Cronos
You might have already heard that the Beefy Cow is grazing new pastures on the Cronos network. There are plenty of projects to explore, and VVS Finance is just one of our new partners on our tenth blockchain. There are three exciting ways to earn, so get your $BIFI, $VVS, and $CRO tokens ready to generate interest while you sleep!
What is VVS Finance?
VVS Finance is an Automated Market Maker (AMM) and Decentralized Exchange (DEX) on the Cronos network. It works similarly to Uniswap on Ethereum or Binance Smart Chain’s PancakeSwap. Users can swap crypto pairs from pools of tokens and coins, similar to how you would use a bureau de change.
VVS also has its native utility, governance, and reward token, $VVS. You can use the token to stake and earn rewards and take part in community votes. For a detailed guide on using the VVS ecosystem, check out their handy Getting Started guide.
How can I earn rewards with Beefy, VVS Finance, and Cronos network?
There are three ways to earn even more crypto with Beefy, VVS, and Cronos. First, you can earn $BIFI by staking $VVS. Second, you can stake $BIFI to earn $CRO or more $BIFI. Third, you can stake $BIFI-$CRO LP tokens to earn more $VVS or more LP tokens. Let’s take a look at each one and see exactly how they work.
Stake $VVS and earn $BIFI
If you already have $VVS in your wallet, you can easily earn $BIFI by staking your $VVS in a Glitter Mine. A Glitter Mine on VVS Finance lets you lock up a single coin and earn interest in the same coin or another.
By heading to the VVS Glitter Mines and connecting your crypto wallet containing $VVS with the [Connect Wallet] button, you can start staking. You could use MetaMask or your Crypto.com wallet extension, for example.
Stake $BIFI and earn $CRO or $BIFI
On our Beefy Cronos Vaults, you can stake $BIFI with a single click to earn $BIFI rewards.
You can also use the Boosted Vault to earn $CRO. You’ll need to make sure your $BIFI is bridged to the Cronos network first. Follow the How to bridge BIFI cross-chain guide for exact steps on moving your $BIFI to the Cronos network from different blockchains.
Stake $BIFI-$CRO LP and earn $VVS
If you have $BIFI and $CRO in your Cronos wallet, you can stake them together on VVS’s Liquidity Pools to create $BIFI-$CRO LP tokens and then earn $VVS with their Crystal Farms It’s a two-step process:
1. Head to the $BIFI-$CRO Liquidity Pool, connect your wallet, and deposit $BIFI and $CRO in equal monetary amounts. You’ll then receive $BIFI-$CRP LP tokens. Make sure you save some $CRO for transaction fees.
2. Open the VVS Finance Crystal Farms, connect your wallet, and stake your $BIFI-$CRO LP tokens from step one. You’ll then earn $VVS rewards you can harvest manually from the Crystal Farm.
Stake $BIFI-$CRO LP and earn more LP tokens
To earn more LP tokens, follow step one from the previous section. Next, head to the Beefy Cronos Vaults and search for the $BIFI-$CRO LP Vault. Stake your LP tokens and begin to autocompound your interest for more $BIFI-$CRO LP tokens.
You can also use the Zap feature if you only have $BIFI, $CRO, or $WCRO in your Cronos wallet. This lets you enter the vault without needing to manually stake in a liquidity pool. See our Beefy Zap guide for more details.
Closing words
There's always an opportunity to earn with Beefy and explore new blockchains at the same time. Make sure to learn more about VVS Finance before making any investment decisions and following the steps in our guide.