Peg Token Farming
Last updated
Last updated
The absolute simplest strategy is to invest in the peg token LP, in this case OWL which is pegged to MOVR. To do this, you will have to take some MOVR and swap half of it to OWL on .
The next step is adding to the OWL-MOVR liquidity pool, as explained .
After that's done you'll have OWL-MOVR LP tokens in your wallet. On the Athena website, navigate to , then click VIEW under OWL-MOVR LP. you'll be able to approve spending for your LP token and then stake it to earn OSHARE rewards.
Now you're earning on your LP tokens and the only thing left is to decide what to do with the OSHARE you receive as rewards. A classic strategy is to cash out some amount as profit and reinvest the rest in order to compound and increase your farming yield.
For example, to take 20% as profit, you would claim your earned OSHARE, swap 60% of it to MOVR, the remaining 40% to OWL, then add liquidity to the OWL-MOVR pair just as you did at the start. This way your rewards are divided up as
40% OWL + 40% MOVR -> 80% OWL-MOVR LP
20% MOVR profits
Add your new LP tokens to your stake and you should enjoy increased rewards next time you harvest.