Penguin Finance

How to Use Igloos

A Penguin Finance Yield-Farming Guide
A great way to earn some $PEFI is by farming at the Igloos (yield farms). On this page guidance will be provided for those who want to earn $PEFI by providing liquidity pool (LP) tokens on the Igloos.
To farm at the Igloos two different specific tokens (e.g: $PEFI and $AVAX) must be staked to get LP tokens. These LP tokens can then be staked on an Igloo, awarding you with $PEFI tokens.
Please take in mind that the Igloos come with the risk of Impermanent Loss (IL). Take your time to learn more about it before moving forward.

Getting Started:

So, you've decided that you would like to earn some $PEFI and more by using the Igloos. To do so you will need some specific LP tokens to enter the desired Igloo. Each Igloo can only accepts the corresponding LP token from the corresponding decentralized exchange (a.k.a DEX).
For example, a PEFI/AVAX Igloo would require you to create an LP token using PEFI and AVAX.
It may sound a bit “tricky” but do not worry, this guide is exactly to help you with it!

Choosing an Igloo:

Prior to anything else, you want to choose the Igloo that is right for you.
Visit the Igloo page to see which pairs are available. You can then decide on which pair you would like to stake by choosing your favorite tokens or by comparing the APRs and then choosing the most beneficial one for you.
Now that you have decided on the Igloo, click it and select "Enable Farm". Followed by approving the contract on your wallet.

Acquiring LP tokens:

After the approval of the contract, the same button should change to something like the picture below. Select it to continue.
  1. 1.
    A new tab on your browser showing the Pangolin exchange "add liquidity" page should appear.
  2. 2.
    100% of each LP token will be made of 50% of one token and 50% of the other token in value. In the case of PEFI-AVAX Igloo you would need to provide both PEFI and AVAX in equal value to acquire an equivalent LP token.
  3. 3.
    After inputting your desired amount, you must approve both tokens prior to supplying them as shown on the image below.
  4. 4.
    Succeeding the confirmation of the transaction, you will have your LP tokens on your wallet ready to be staked on the Igloo and earn some sweet $PEFI and more!

Adding and Removing LP tokens to/from the Igloos:

Adding LP tokens:

  1. 1.
    Go back to the Igloo page.
  2. 2.
    The same button should now be gray, waiting for you to input your desired amount in the box above.
  3. 3.
    Select “Max” if you wish to deposit all your LP tokens in this Igloo. Otherwise you can put your own number, between 0 and your total amount.
  4. 4.
    You can then select "Confirm Staking" to deposit your LP amount on the Igloo. As shown on the picture below.
After confirming the staking on your wallet the middle window should have changed to display your stats like the picture below. Now you are all set to enjoy your awesome rewards!
If you wish to add more LP tokens you can just repeat the previous steps.

Removing LP tokens:

If you wish to remove some or all LP tokens you can select "Unstake" on the slider.
  1. 1.
    Select “Max” if you wish to deposit all your LP tokens in this Igloo. Otherwise you can put your own number, between 0 and your total amount.
  2. 2.
    Select "Confirm Withdrawal".
  3. 3.
    Now after confirming the transaction on your wallet you will have unstaked from the Igloo.
NOTE - If you add or remove LP tokens, your rewards will be automatically “Harvested”.

Collecting Rewards:

Staking rewards on an Igloo will reward you $PEFI and other tokens over time. These rewards can be collected at any time, and you can use them for whatever you want.
To collect these, you will need to go to the Igloo page and select the “Harvest” button under "Pending Rewards" of Igloo you staked in.
You will then have to pay a gas fee to harvest the rewards. Maybe consider letting your rewards grow for a while before you harvest them, so you pay less gas fees.

Auto-nesting feature:

On these special farms you can stake a portion of your $PEFI rewards on the nest automatically!
You can just select the amount of rewards that you want to deposit directly in the nest by moving the slider to the desired amount (it should be 50% by default).
Click "Modify", followed by approving the transaction on your wallet. And you have successfully personalized your Igloo farming experience!