💰Earn
Earn passive income through holding rhoTokens!
Last updated
Earn passive income through holding rhoTokens!
Last updated
Earning through rhoTokens is easy: simply convert your stablecoins on Flurry Dapp and get corresponding rhoTokens!
It all starts from the portal below:
Earn is now live on BNB Chain & Polygon (MATIC); coming soon on Ethereum.
Currently three stablecoins and their corresponding rhoTokens are supported, namely:
USDT <-> rhoUSDT
USDC <-> rhoUSDC
BUSD <-> rhoBUSD
Learn more from the supported stablecoins from:
💲Supported StablecoinsMake sure you are on the correct network before connecting your wallet. If you are new to the crypto space. here's a tutorial on how to set up a crypto wallet: https://youtu.be/iVD6s80u4Kk
You will be able to see the numbers showing up on the page below once you have connected your wallet to the corresponding network:
Before you start using the Flurry DApp, there is a step that you should take first, which is to approve an AMOUNT that the Flurry Protocol can get access to on your wallet.
It's like the setting on your phone - you have to grant access to the application before the application can use your camera or microphone. The principle works the same on DeFi protocols.
One point to note is that if you have only approved 50 USDT (say for example) but you try to convert 100 USDT into rhoUSDT, the transaction won't be able to process.
Make sure you have approved the exact amount or more that you wish to convert.
The approval step will cost some gas fee, as this is the beauty of decentralized space - you need consensus to approve it.
Check to see if the currency unit is what you want for the conversion, and make sure you are under the page "Convert"
In this walkthrough, we will use USDT as the deposit currency as a demonstration.
You will be able to receive a notification once the approval has been processed successfully.
Key in the amount that you wish to convert. Note that the amount that you are converting should be lower than or same as the amount that you had just approved previously.
A pop-up message will show when you've converted RHO token successfully, you are all set!
The amount of newly converted rho tokens will be shown under your token balances. Interest earning will kickstart right away. If you can click on the APR numbers (the demo was done on testnet, where APR cannot be read from the testnet network), you can check out which yield farming strategies the deposits are currently on.
Click on the text "rhoUSDT" under your token balances and add RHO to your wallet accordingly. The external link icon next to it will open the contract address on another tab window.
Switch the unit option under "Convert", and all the steps should be the same as above.
The steps are the same without the approval, except that you will have to switch to the "Redeem" tab instead of "Convert" on the Earn page.
If you wish to see how the whole process goes, check out our demo video done on testnet.
