How to convert and revert
Last updated
Last updated
Below is a video walk-through built by a Harvest core contributor. Additionally, a text-based version of the same is further down this page. If you experience any issues with converting or reverting, please reach out via Twitter or Discord.
With the rollout of Harvest 4, converting into any farm has become a "one click" experience as the user no longer has to visit 3rd party sites to obtain specific tokens. The Harvest protocol helps perform the converting for you! Want to start farming a new Curve LP pool showing high APYs, but have no experience with the Curve protocol? Simply select any liquid asset in your connected wallet for converting and the Harvest app, with the power of Portals.fi, will convert your funds into the required assets needed and complete the converting for you. And when you revert, you can pick any listed asset to exit to! (Depending on the asset selected there may be slippage in the entry/exit swap)
Harvest offers a large number of farms to convert 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 pools, 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 convert/revert buttons.
To farm into this farm, we will select the Convert button and then click Select Token to pick from the available convert options. We will select ETH, and input 0.1 ETH for convert. Then click convert.
After clicking convert, 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 converting rate, click Continue Converting
Side Note: Depending on the asset you are trying to convert, there might be one extra step after clicking Continue Converting. 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 convert 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 converting, then click Next, then Approve.
Since we are converting ETH with our main example, no approval is needed so we can simply click Convert:
Clicking convert 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 fToken converting! But now you need to stake those assets into Harvest to receive additional rewards. Click on 'Click here to go back' so we can finalize your convert by staking your assets.
Now that your assets have been converted as fAPE, you will want to finalize your converting 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 converting with Harvest Finance. Congratulations! You are now yield farming with your otherwise stagnant crypto!
Now that you have converted into fTokens and started earning, be sure to give your crops plenty of time to grow. The rewards collection function occurs randomly to ensure maximum profitability per cycle. Also remember compounding rewards takes time, and leaving the farms too soon could mean you are missing out on a harvesting cycle resulting than lower than expected yields.
