Soon after, DinoSwap announced that they are launching the Orbs Fossil Farm and Extinction Pool!
DinoSwap is an advanced DeFi protocol that interfaces directly with the ORBS-USDC pool on QuickSwap. We are very excited about this special integration with DinoSwap as it is expected to strengthen the ties of Orbs to the Polygon DeFi ecosystem, increase ORBS liquidity, and also increase exposure of the Orbs project to the Polygon user-base.
In this blog post you will find a short tutorial of how to use the Orbs pools on DinoSwap.
The Orbs Fossil Farm interfaces directly with the QuickSwap DEX-AMM on Polygon. Orbs users will need 2 basic things in order to be able to interact with the Polygon network:
Set up MetaMask wallet for Polygon. This is a very simple and easy process as explained in this short guide.
On the Polygon network, MATIC is the currency used for conducting transactions. Each transaction costs a very small fee to process, and that fee is paid in the form of gas with a MATIC token. If you do not have any MATIC in your wallet, then you can not send any transactions! You can get initial MATIC to get you started on Polygon for free here. After that, you can always swap more MATIC tokens on any DEX for ongoing transaction fees
Now you are all set to start!
Here is a short tutorial and a summarized process flow for using the OrbsFossil Farms & Extinction Pool on DinoSwap:
And here is the basic flow you'll need to do:
1) Bridge Orbs tokens onto Polygon
2) Add liquidity on QuickSwap
Next, you’ll need to add liquidity to the ORBS-USDC pool on QuickSwap. After adding liquidity, you will receive ORBS-USDC LP tokens which you’ll need to use in the next step. Here is a short guide for using Orbs on QuickSwap.
To add liquidity, you will need ORBS and USDC in equal parts in terms of USD value. To achieve this you can bridge USDC to Polygon, or simply swap some of your ORBS for USDC.
3) Stake in DinoSwap’s Fossil Farms
The next step is to stake your ORBS-USDC LP tokens in the Orbs Fossil Farm on DinoSwap. Once the LP tokens are staked you will start to earn DINO tokens. Claiming these DINO tokens is done by pressing the “Excavate” button.
4) Excavate Orbs in the Extinction Pools
The final step is to stake your DINO tokens in the Orbs Extinction Pool and earn ORBS tokens rewards. Note that by entering these pools, you should understand that 100% of your deposited DINO will be burned to earn the reward tokens over the remaining duration of the pool.
Use of DinoSwap, QuickSwap, Polygon bridge and the other platforms and services described above carries significant risk. Digital assets, decentralized finance products, especially those that utilize margin or leverage, are, by their nature, highly risky, experimental and volatile. Such platforms and services may be subject to security and economic risks and exploits and transactions may be irreversible, final and without refunds. Such use carries a risk of substantial losses. In particular, the use of products that utilize margin or leverage magnifies exposes you to a risk of liquidation and full loss of your position.
Any use of any platform, application and/or services described above is at your own risk and you are solely responsible for all transaction decisions. You should do your own research and independently review any third-party services and platforms and any applicable information terms, conditions or policies applicable to such platforms and services.