How to deposit and stake
With the rollout of Harvest 3, depositing into any farm has become a "one click" experience as the user no longer has to visit 3rd party sites to obtain specific collateral for deposit. The Harvest protocol does it all for you! Want to deposit into a new Curve LP pool showing high APYs, but have no experience with the Curve protocol? No worries, simply select any liquid asset in your wallet for deposit and the Harvest app, with the power of Wido, will convert your funds into the required assets needed and complete the deposit for you. And when you withdraw, you can pick any listed asset to exit to!
Harvest offers a large number of farms to deposit into, across multiple blockchains. To help you filter between options some quick selection buttons are available, including Beginner or Advanced farms, Stable Coins, Single Sided Deposits, and more!
For this example we are going to select the $APE coin farm from the list which will switch views into the dashboard, showing various statistics for this farm, and the deposit/withdraw buttons.
To deposit into this farm, we will select the Deposit button and then click Select Token to pick from the available deposit options. We will select ETH, and input 0.1 ETH for deposit. Then click deposit.
After clicking deposit, a verification screen will appear, showing you the conversation rates of ETH into APE (fAPE is the staked version of APE with Harvest). If you are okay with this conversion rate, click Continue Deposit
Side Note: Depending on the asset you are trying to deposit, there might be one extra step after clicking Continue Deposit. As an extra security layer whenever a user is interacting with an application, the user must approve a specified quantity of assets that the application is allowed to use. If the application were ever to be maliciously hacked, they would only be able to steal the amount you set as an allowance.
If your assets need to be approved you will see the below Approve X deposits button:
Clicking this Approve button will open your MetaMask browser wallet asking you to define the amount the application is allowed to use. Click Maximum to set the amount to match what you told the application you were depositing, then click Next, then Approve.
Since we are depositing ETH with our main example, no approval is needed so we can simply click Deposit:
Clicking deposit opens your Meta Mask wallet to approve the transaction. Be mindful of the network cost, especially on Ethereum where costs can exceed $100-$400 per transaction!
Congratulations, you successfully swapped from ETH into the asset needed for deposit! But now you need to stake those assets into Harvest. Click on 'Click here to go back' so we can finalize your deposit by staking your assets.
Now that your assets have been converted and deposited as fAPE, you will want to finalize your deposit and stake them into the protocol which can earn you bonus rewards in iFARM. Simply click the Max button then click Stake as shown below:
Clicking the Stake button will open your MetaMask wallet prompting you to approve use of these tokens. Click Max, then click Confirm, then click Approve on the next window prompt.
Once the Approval transaction completes, click Stake again, then Approve the MetaMask transaction that pops up. When this completes you will have finalized your deposit with Harvest Finance. Congratulations! You are now passively earning rewards on your otherwise stagnant crypto and you can already see some awards accruing!
Now that you are deposited and earning, be sure to give your crops plenty of time to grow. The rewards collection function occurs randomly to ensure maximum profitability per cycle and to prevent front running. Also remember compounding rewards takes time, and leaving the farms too early could mean you are missing out on potential earnings!