The farm contract facilitates the staking of blue chip DeFi LP tokens, which represent the liquidity provided to various decentralized exchanges (DEXs) by the user. Blue chip DeFi projects refer to well-established and reputable projects in the DeFi space that are considered to be relatively stable and secure investments. By staking their LP tokens in the Steam Room contract, users can earn BATH tokens, the native token of the Bathtub ecosystem.
Staking Process: To participate in the farm contract, users need to follow these steps:
Obtain LP tokens: Users must first provide liquidity to a blue chip DeFi project's pool on a decentralized exchange, such as Uniswap or Camelot. In return, they will receive LP tokens representing their share of the pool.
Stake LP tokens: Next, users need to connect their wallets to Bathtub and navigate to the farm page and stake their LP tokens in the corresponding farm. Once the tokens are staked, the user will begin to accrue BATH rewards proportional to their staked amount and the duration of the stake.
Claim BATH rewards: Users can claim their BATH rewards at any time by visiting the farm page and clicking on the "Claim Rewards" button. The BATH tokens will be transferred to their connected wallet. Users can also withdraw or deposit more at any time.
A 4% deposit fee is applied to all LP tokens staked in the farm contract. This fee is sent to the DAO treasury and to a maintenance wallet;
The DAO treasury uses the funds to farm yield-bearing assets in various DeFi platforms. The generated yield serves as a real income source for the Bathtub ecosystem, ensuring its sustainability and growth.
The maintenance wallet will provide the project with funds for admin salaries, research, development and advertising, and for future expenses such as audits.