$6.47 -4.62%
XTZ · 2w

Some details about farming wXTZ on Tezos and Ethereum

While we are waiting for Quipuswap, here’s some stats on [Farming wXTZ on Ethereum.](https://docs.stakerdao.com/staker-stkr-farms) But first quick background for the uninitiated: Back in January, StakerDAO launched the wXTZ token and the Wrapped XTZ vaulting process on Tezos. From within Galleon wallet, XTZ holders can deposit their XTZ into a vault and borrow wXTZ against their deposit 1:1. XTZs in the vault continue to receive baking rewards and can be removed by burning wXTZ 1:1. wXTZ is an FA1.2 token and so holders previously could only trade them on Dexter. But last Friday, StakerDAO launched the [StakerBridge for wXTZ](https://bridge-wxtz.stakerdao.com/). With StakerBridge, wXTZ holders can move their wXTZ from Tezos to Ethereum (and back again). Once holders have wXTZ on Ethereum, they can become liquidity providers to the [wXTZ / ETH trading pair on Uniswap](https://app.uniswap.org/#/add/0x2A69655C22eDa32ff48d315bB26ED45f150700b4/ETH). “LPs” earn a share of the trading fees from that pair, and can then use their Uniswap LP tokens to “farm” StakerDAO governance tokens “STKR” from the [Staker Farms](https://farm.stakerdao.com/#/) deployed on Ethereum. Now this process probably seems quite complicated - and it is. We’d love to be able to let people farm STKR directly on Tezos, but until there is a DEX on Tezos that offers fungable LP tokens, we are stuck with only being able to do this on Ethereum. (Thus why we are all hoping that Quipuswap launches with liquid LP tokens). Regardless, for those who have started farming their wXTZ on ethereum this past week, they have seen very high returns. As of now (Friday afternoon PT), there is $1.5M of capital in the farm, and the return to those farmers is 375% APY. For those longing for increased yield on their XTZ, this is as good as it gets right now. https://preview.redd.it/li5bpfvl6gp61.png?width=1219&format=png&auto=webp&s=72fcd5794ebe3841749aff96aa80035a46e2ef4f I am the first to acknowledge t...
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