As you may already know, Harvest’s Arbitrum section is now up and running, and a few farmers have already taken the step to these new farmlands.
At the moment of writing, Harvest offers some good APY you can enjoy on various token pairs :
So, you may be wondering “How do I go there❓”. This is what this tutorial is about.
How do I go there?
There are various ways of bringing your assets from Fiat or even from any other chain (Ethereum, Polygon, …).
First, let’s take a look at the Arbitrum portal which will provide us information on which platforms are available on the network.
From Fiat 💵
You can find on this page some of the platforms that offers Fiat On-Ramp. This guide won’t cover this part as it is straightforward: you buy your tokens on those platforms and they are transferred to your wallet after. Simple as that!
From another chain 🔗
Bringing tokens from one chain to another is called bridging. Bridges are protocols that handles the transfer between your wallets through chains.
Once again, let’s head over to Abitrum portal to see which platforms are available for us :
As you can see there is a lot! You can find the bridge that most suits your needs here, but as always in the crypto world, Do Your Own Research! It’s very important you chose a reliable bridge since it’ll be responsible of moving your tokens from a chain to another. One smart thing to do is to first send a small amount the be sure you understood well how it works before sending the whole amount.
That being said, I chose ChainHop to bridge my tokens mainly because it allowed me to transfer most of the token I had to Arbitrum handling the swapping unlike most of the other bridges that only transfer their tokens or the chain’s tokens, so I’ll use this platform as an example for the bridging process.
How to bridge my tokens? 🌉
- Go to ChainHop and connect your wallet
- Select your origin chain (Ethereum in this example)
- Select your origin tokens (USDC in this example)
- Select Arbitrum as your destination chain
- Select the token you want to obtain on Arbitrum. Keep in mind you will need a small amount of ETH to pay the transactions once on Arbitrum.
- Confirm the transactions
- Your tokens will be transferred to your Arbitrum address, in less than 1 hour most of the time. Congrats! Your tokens are now available on Arbitrum.
How to farm on Harvest on Arbitrum? 🚜
You now have some tokens on Arbitrum! The hardest part is done, now this is a piece of cake. Go to https://harvest.dolomite.io/; although this part of the protocol is not yet hosted on the classical website, it is still controlled by Harvest, in collaboration with Dolomite.
Once on the home page, you’ll have to choose a vault to farm. It is up to you to do your own research and evaluate the risks. For this tutorial, we will use the Sushiswap ETH-DAI vault as example.
Find the card, and hover the icon under “Vault details”, you’ll find here the here the information on the tokens, the APY breakdown and finally where to deposit your tokens.
- Click on the link “Arbitrum Sushi”.
- You’ll lend on Sushiswap Onsen page, listing all Sushiswap pools.
- Find WETH-DAI pool and click on it.
- On the popup that appears, fill the fields with an equivalent amount of ETH and DAI, it should autofill one field while you are editing the other.
- Confirm the transactions, you’ll receive liquidity provider tokens proving you deposited in that pool.
- Go back to Harvest, find the ETH-DAI vault, and fill the field “Balance Sushi_ETHDAI_arbitrum” with the amount of LP tokens you want to provide. Alternatively, if you want to deposit all of them, you can hit “Max” button.
- Click on “Deposit”, leave the checkbox “Stake for rewards” if your want to earn even more tokens on vaults that are eligible!
- Confirm the transactions (you should have 4 transactions to confirm in a row, 2 for the deposit, 2 for the staking).
- Congratulations 🎉! You are now farming ETH-DAI on Arbitrum!
What’s next? ➡️
You are now earning a passive income, and you can claim additional rewards if you staked and if the vault is eligible. You can withdraw your fund at any moment, it will be almost the same steps as before, in reverse, and you want to “withdraw” instead of “deposit”. Keep an eye on the homepage, new vaults may appear at any moment 👀.
If you need additional help, if you have questions, or just want to say hello, don’t hesitate to visit our Discord server, there is always someone that can chat with you.
About Harvest Finance
Harvest is an asset management platform that maximizes yield for assets deposited by users. Harvest reduces gas costs and develops cutting-edge strategies to become the stop-shop of yield farming in DeFi.
Connect with Harvest: Website — Twitter — Discord
I am not a financial advisor, and the present tutorial is not intended to be anything else than a learning ressource. Do your own research before investing your money.
