The ship has landed on planet Polygon and crisp glistening $BLU pools are ready and waiting for you.
We are going to show you how to navigate this strange planet and how you can earn some of that sweet $BLU by staking $CRYSTL (Crystl Finance's DeFi token).
You can also set up your own $CRYSTL miner too!
Before you jump on in, make sure you have a Polygon Wallet ready to go.
All the details can be found here:
If you missed the rocket and don't have any $BLU on Polygon, you can still get involved!
All you need to do is buy $MATIC, Polygon's crypto token, and you too can jump into the $CRYSTL/$BLU pool.
We have it all covered in the article below:
If you already have $BLU, you will still need to get hold of $MATIC to pay for gas fees (don't worry, on Polygon these are fairly small). It's also very useful for speeding up transaction times and you can add it to a liquidity pool with $BLU.
You can then stake the LP tokens to create a $CRYSTL miner!
Who said space traversal wasn't cool!?
Swap $BLU for $MATIC
If you don't want to buy $MATIC, you can easily swap some of your $BLU. You will need this for gas fees or to speed up transactions. You will also need $MATIC if you want to create a $CRYSTL miner.
To do this, first make sure your MetaMask Wallet (browser extension) is connected to Polygon:
Now you can head over to crystl.finance to swap your $BLU for MATIC:
Add $BLU in the From field and $MATIC in the To Field.
Add the total $BLU you want in the FROM field and the estimated $MATIC you will receive will auto-populate in the To field.
Always double-check the price impact at the bottom. This is a tiny swap, so there is no price impact. If you look at the Price it's costing us 287.097 $BLU per $MATIC token.
If I added 1 million $BLU, the Price Impact would be 7.28% or 309.681 $BLU per MATIC. It simply costs us more to swap 1 million $BLU than lower values. The deeper the pool, the less Price Impact you will experience on bigger swaps (this pool is deep!).
Click on Unlock Wallet and select MetMask (or the wallet of your choice if you are not using MetaMask). Then click Approve BLU.
Your MetaMask Wallet will pop-open asking you to approve the transaction, along with confirming a small transaction fee:
Once you are happy, click Confirm and the transaction will be pending until it is completed:
You can Speed Up the transaction, by adjusting your Gas Limit / Price, feel free to try it out if it's taking too long to process and you are happy paying a little more (we may write a guide on this if you want one, just let us know!)
Once processed, a little pop-up message will show on the dex Crystl swap page:
Swap $MATIC/$BLU for $CRYSTL
You will need $CRYSTL to jump into to $BLU pool. Just follow the exact same steps on how to swap $BLU for $MATIC above
The only difference is adding either $MATIC or $BLU in the From field and $CRYSTL in to To field.
We will swap some of our $MATIC into $CRYSTL as an example:
Hit swap and then Confirm Swap (you will likely see the approve button if this is your first time. Click that first and then approve in MetaMask):
Then you need to confirm the swap again in your MetaMask Wallet.
You will see a transaction submitted message on Crystl dex and the transaction will be pending in your MetaMask wallet:
When it processes, a message will pop up on screen:
Boom! Now you have your Crystl, you are ready to dive into the pool!
Set up a $CRYSTL/$BLU pool
No dipping your toes here, let's jump right in.
Head over to the Crystl Finance Pools:
Type in $BLU in the search bar over to the top right
Expand the details over to the right-hand side, and let's take a look at what we have:
- BLU Earned - The total $BLU you have earned from this pool
- APR - Estimated APR. Click on the calculator symbol for more details
- Total Staked - Total CRYSTL staked by all users in this pool
- Ends In - Time until current pool expires (click to see time in days and hours)
- Links - Links to ApeSwap liquidity chart for $BLU, BluDAC's website and you can add $BLU to your Metamask wallet (you shouldn't need to do this). Manual means that for you to compound your interest (reinvest harvested $BLU back into the pool) you need to do this manually (harvest - swap for $CRYSTL and re-stake).
- BLU Earned - Harvestable $BLU earned (harvest button too!)
- Enable Pool - AKA, LFG!!
All we need to do now is stake our $CRYSTL tokens.
Click the Enable Button over to the right. MetaMask will pop up asking for permission for crystl.finance to spend your $CRYSTL, along with a small transaction fee:
Once confirmed and the transaction has processed, a message will pop-up saying that you can now stake. The Enable button will now change to Stake:
Hit stake and enter how much CRYSTL you want to stake.
In this example, we will add our MAX amount of $CRYSTL:
MetaMask will pop up again, asking to confirm the transaction, along with gas fees that are paid in $MATIC.
The transaction will process and that's you done! You will now see your total $CRYSTL staked and you will start earning $BLU instantly. Just look at that $BLU rolling in!
That's all there is to it! You can Harvest your earned $BLU at any time, just keep in mind that you will pay a gas fee each time so it's probably best to harvest in batches.
Remember if you want to compound your earnings, harvest your $BLU, swap for $CRYSTL and re-stake back into the pool.
Set up a $CRYSTL Miner
You can also set up a $CRYSTL miner! This is great as you could use the mined $CRYSTL to stake back into your $BLU pool.
To do this, head back over to the swap exchange.
Select the liquidity tab and choose $MATIC in the first Input field and $BLU in the second Input field.
You can use either $MATIC or $WMATIC. $WMATIC is wrapped $MATIC, you wrap/unrwrap when you swap for $MATIC/$WMATIC. If you want to keep it simply, stick with $MATIC.
Connect your MetaMask wallet by clicking on 'Unlock Wallet'.
Just for demonstration purposes, I'll add 1 MATIC to the pool. This shows us that we need 1 $MATIC and 286.562 $BLU.
We always need a fair split of $MATIC & $BLU based on the values of each token.
Let's say we had zero $BLU and we wanted to provide 50 $MATIC tokens for liquidity.
First, would want to swap 25 $MATIC for $BLU. That would give us 7,145.71 $BLU tokens (you can learn more about swaps further up the article) and still have another 25 $MATIC.
Now we can switch back to the Liquidity tab and add 24 $MATIC which would mean that we would also need 6,877.5 $BLU which now we have (note you can't get a perfect 50/50 split due to fees. Also remember to keep $MATIC aside for gas fees). Now we can successfully provide liquidity.
To give a very basic example, I'll supply 1 $MATIC & 286.563 $BLU to the pool. Just hit Supply one you have the total amount you are willing to provide.
You can see that we will receive 16.9156 MATIC/BLU Pool Tokens for our contribution (a very small 0.002259% share of the pool!).
Click Confirm Supply and approve the transaction in your MetaMask Wallet that pops out.
Your transaction will remain pending in your MetaMask Wallet until complete:
Once the hamster has ran through it's wheel for you, your LP tokens can be seen on Crystl Finance:
Cool! Now we are ready to create our Crystl Mine!
Create your Crystl Mine
Head over to the Mines section on crystl.finance and search for BLU in the search bar:
Expand the details over to the right and let's take a look at what we have!
- Earned - The total $CRYSTL you have earned from this pool
- APR - Estimated APR. Click on the calculator symbol for more details
- Liquidity - Total dollar value provided within this pool
- Multiplier - A base rate of 1 CRYSTL per block (this pool receives 12 CRYSTL per block thanks to the 12X multiplier)
- Deposit Fee - Fee for staking your LP, currently at 0% (woohoo!)
- Links - Links to ApeSwap liquidity charts for token pair, BluDAC's website, contract info and a link to provide liquidity (defaults to $WMATIC).
- CRYSTL Earned - Harvestable $CRYSTL earned (harvest button too!)
- Unlock Wallet / Enable Farm - AKA, LFG!!
To get mining, click the Enable button & grant permission to Crystl Finance in your MetaMask Wallet (along with the small fee):
Once processed, the Enable button will change to Stake LP:
Click Stake LP and you can now select how much of your BLU-MATIC LP tokens you want to stake. We will go with our Max (big spenders, clearly!):
Hit Confirm and approve the transaction in your MetaMask Wallet.
Once processed, you will see your LP tokens staked and you will start earning CRYSTL!
If you want to add/remove your LP tokens, simply use the plus/minus signs:
Just remember when you are adding, you will need to get more LP tokens.
That covers most of it for now. As always, I will continue to update the article to make it even more useful.
Welcome to Planet Polygon!
We will be your mission control when BluDAC blasts off!
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arodie.com articles are not financial or investment advice.