How to Start Farming
Prerequisites
Before you begin farming with Jewel Scallop Yield Farm, ensure you have:
1. Sui Wallet
Sui Wallet: Download Slush Wallet
Suiet: Download Suiet
Other Compatible Wallets: Any wallet that supports Sui network
2. SUI Coins
For Transaction Fees: You'll need SUI coins to pay for gas fees
Minimum Amount: At least 1 SUI coin for initial transactions
Where to Get: Purchase from exchanges
3. Collateral Coins
Choose one of the supported collateral coins:
SUI USDT: Most popular option
SUI USDC: Alternative stablecoin option
SUI: Native Sui coin
Other coins
Step-by-Step Guide
Step 1: Connect Your Wallet
Visit the Platform: Go to the Jewel Scallop Farm website
Click "Connect Wallet": Look for the wallet connection button
Select Your Wallet: Choose from the supported wallet options
Authorize Connection: Approve the connection in your wallet
Verify Connection: Ensure your wallet address is displayed
Step 2: Choose Your Farming Pair
Select the assets you want to farm with:
Popular Farming Pairs
SUI USDT → USDC: Most liquid and stable
SUI USDC → USDT: Alternative stablecoin pair
Considerations
Liquidity: Higher liquidity pairs have better rates
Volatility: Stablecoin pairs have lower risk
Rewards: Different pairs may have different incentive rates
Step 3: Deposit Collateral
Select Amount: Enter the amount you want to deposit
Review Details: Check the collateral value and borrow capacity
Approve Transaction: Approve the deposit transaction in your wallet
Wait for Confirmation: Wait for the transaction to be confirmed
Deposit Amount Guidelines
Minimum: $10 for meaningful returns
Recommended: $1,000+ for better fee efficiency
Maximum: No hard limit, but consider risk management
Step 4: Configure Borrowing (Optional)
The protocol will automatically:
Calculate Borrow Capacity: Based on your collateral and collateral weight
Borrow Debt Tokens: Up to the maximum allowed amount
Supply to Lending Market: Earn lending yield on borrowed tokens
Step 5: Stake VeSCA for Boosted Rewards (Optional)
Navigate to VeSCA Section: Find the VeSCA staking interface
Select Amount: Choose how much VeSCA to stake
Choose Lock Period: Longer locks provide higher multipliers
Approve Transaction: Confirm the staking transaction
Step 6: Monitor Your Position
Once your position is active, you can:
View Position Details
Total Value: Current value of your position
Deposited Amount: Amount of collateral deposited
Borrowed Amount: Amount of debt borrowed
Current APR: Real-time APR calculation
VeSCA Boost: Current boost multiplier
Track Performance
Daily Rewards: Rewards earned per day
Total Rewards: Cumulative rewards earned
Position Health: Risk metrics and health factor
Market Conditions: Current market utilization and rates
Understanding Your Position
Position Components
1. Collateral
Amount: Your deposited collateral tokens
Value: Current USD value of collateral
Weight: Collateral weight (typically 65%)
2. Debt
Amount: Borrowed debt tokens
Value: Current USD value of debt
Interest Rate: Current borrow rate
3. Supply
Amount: Tokens supplied to lending market
Value: Current USD value of supplied tokens
Interest Rate: Current lending rate
Share System
Deposit Shares
Your Share: Your proportional ownership of total deposits
Total Shares: Total deposit shares in the farm
Share Value: Value per share
Debt Shares
Your Share: Your proportional ownership of total debt
Total Shares: Total debt shares in the farm
Share Value: Value per share
Supply Shares
Your Share: Your proportional ownership of total supply
Total Shares: Total supply shares in the farm
Share Value: Value per share
Yield Sources
1. Lending Yield
Source: Interest earned from supplying tokens to lending markets
Rate: Variable based on market conditions
Payment: Automatically compounded
2. Borrow Incentives
Source: Rewards for borrowing activities
Tokens: SUI, SCA tokens
Rate: Variable based on market conditions
VeSCA Boost: Up to 4x multiplier with VeSCA staking
3. Protocol Fees
Source: Share of fees collected from other users
Rate: 70% of total yield distributed to position holders
Payment: Automatically distributed
Risk Management
Understanding Risks
1. Liquidation Risk
What It Is: Risk of losing collateral if position becomes undercollateralized
When It Happens: When collateral value drops below liquidation threshold
How to Avoid: Monitor position health and maintain sufficient collateral
2. Interest Rate Risk
What It Is: Risk of changing interest rates affecting profitability
When It Happens: Market conditions change utilization rates
How to Manage: Monitor market conditions and adjust position if needed
3. Smart Contract Risk
What It Is: Risk of bugs or exploits in smart contracts
Mitigation: Protocol undergoes regular audits and security reviews
Best Practice: Only invest what you can afford to lose
Risk Management Tips
1. Position Sizing
Don't Over-Leverage: Keep leverage within comfortable limits
Diversify: Don't put all funds in one position
Start Small: Begin with smaller amounts to learn the system
2. Monitoring
Regular Checks: Monitor your position regularly
Set Alerts: Use price alerts for significant market movements
Stay Informed: Keep up with protocol updates and market conditions
3. Exit Strategy
Plan Ahead: Have a plan for market downturns
Partial Withdrawals: Consider partial withdrawals during high volatility
Emergency Exit: Know how to quickly close positions if needed
Troubleshooting
Common Issues
1. Transaction Fails
Insufficient Gas: Increase gas limit or add more SUI tokens
Slippage: Adjust slippage tolerance for volatile markets
Network Congestion: Wait for network congestion to clear
2. Position Not Showing
Refresh Page: Try refreshing the page
Check Wallet: Ensure wallet is connected and on correct network
Wait for Confirmation: Some transactions take time to process
3. Rewards Not Updating
Wait for Epoch: Rewards update at protocol compounding
Check Position: Ensure position is active and healthy
Contact Support: If issues persist, contact support
Getting Help
1. Documentation
User Guides: Comprehensive guides for all features
FAQ Section: Answers to common questions
Video Tutorials: Step-by-step video guides
2. Community Support
Discord: Real-time support and discussions
Telegram: Community chat and announcements
GitHub: Technical support and bug reports
3. Direct Support
Support Ticket: Submit a support ticket for specific issues
Email: Contact support team directly
Social Media: Reach out on Twitter or Discord
Congratulations! You've successfully started farming with Jewel Scallop Yield Farm. Remember to monitor your position regularly and stay informed about market conditions. For more detailed information, check out our Position Management and SUI/Gauge guides.
Need help? Check out our FAQ or join our Discord community!
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