Opening a farming position (Basic & Advanced modes)

4 Steps to open a farming position in Basic Farming Mode

(Users who prefer to choose the amount of each asset borrowed at Step 3, should look at the user guide under the sub-section "Advanced Farming mode")
1️⃣ Select a pool
2️⃣ Supply liquidity
3️⃣ Select leverage
4️⃣ Confirm strategy
Let’s take a look into the details.

1️⃣ Select a pool

As mentioned, Alpha Homora V2 will enable leveraged yield farming of liquidity pools that are on Curve, Balancer, SushiSwap, and Uniswap. Users can select these pools on Dashboard page.
For instance, if “Uniswap’s USDC-USDT pool” is selected, the transaction will be executed on the USDC-USDT pool on Uniswap.

2️⃣ Supply liquidity

Yield farmers don’t need to have equal value of both tokens in order to yield farm on Alpha Homora v2 (similar to Alpha Homora v1), as Alpha Homora v2 will automatically and optimally swap the assets to arrive at equal value of both tokens before taking care of the yield farming process for our users. In the example below, users can supply only DAI or only USDC or USDT or all 3 of the base tokens.
Additionally, users can now supply LP tokens of the selected pool as collateral.

3️⃣ Select leverage

In basic farming mode, users only need to select the amount of leverage they would like to open the farming position with.
Automatically, the asset and amount to borrow are calculated for the users to minimize price impact from swapping assets on the AMM protocols.

4️⃣ Step 4: Confirm Strategy

Users are provided with the breakdown of the strategy in three parts:
    1.
    Part 1 shows the breakdown of assets in your position
    2.
    Part 2 shows the breakdown of APR
    3.
    Part 3 shows the breakdown of price impact and slippage
Users should read through the summary before confirming. Once confirmed, the yield farming process will be taken care of.
Note that once you have an open position, you need to monitor your positions and manage it to prevent liquidation. See how to manage your open positions here.
Last modified 3mo ago