Single Farm - The How-to Guide
Here you can find the detailed step-by-step instruction of how to use deFarm first product: Single Farm! Let’s pick up your tools and grow your first corps!
Single Farm is a one-time DeFi Vault managed by a pro-trader that focuses on single, robust, and short-term trade executed on deFarm's partner DEXs. Learn more about Single Farm here: https://docs.de.farm/single-farm
Single Farm is now in Testnet phase, and will be available for mainnet this year. This Guide is used for both versions. The only difference is:
In the Testnet version, you will need to visit https://testnet.de.farm and connect your wallet through Optimism Goerli Network.
In the Mainnet version, you will need to visit https://de.farm and connect your wallet through Arbitrum or Optimism Network.
1. Wallet Connecting
The first step after visiting Single Farm dApp site is to connect your wallet. At the right corner, click on the “Connect Wallet” button and choose your suitable wallet
If you don’t have a wallet ready, please click on “I don’t have a wallet” and follow the instructions to create one. We recommend MetaMask, the most used wallet in the space
Normally, after connecting your wallet to deFarm Testnet, your wallet will automatically ask you to switch to Optimism Goerli Testnet. In case something when wrong, you can manually add Optimism Goerli Testnet by visiting this link and click on “Add to MetaMask”
In the Testnet phase, you will need TestUSDC and TestETH on Goerli Network to test out Single Farm.
To get TestETH, you can use any kind of Optimism Faucet available in the space. Please read this guide provided by Optimism for details. 0.1 ETH is more than enough for you to try Single Farm features.
To get TestUSDC, you will need to contact us. Single Farm Testnet uses Perp.com DEX to execute the order. Therefore, the TestUSDC is provided by Perp.com, and you can’t faucet it elsewhere.
2. How to Create a Farm
The first feature of Single Farm is to crowdfund your trading ideas! It only takes you less than 5 minutes to show your idea to the world and start raising funds. Trade using Single Farm will earn you more benefits than trading on DEXs alone. Furthermore, you can build your reputation by consistently generating good returns for investors.
At the top right corner, click on the “Create Farm” button, then choose to create a Single Farm
Next, you need to fill in all the necessary information about your trading idea. You can see the preview of your Farm on the right side.
Title: The name of your Farm. This will be the first thing people see about your Farm, so choose it wisely.
Description: The full description of your trading idea. This field is only available to view on your Farm detail page, which people need to click on to view.
Prediction: Paste in your tradingview image chart of the prediction. This will be displayed on the detail page. NOTE: you must paste in the image of the chart, not the chart itself, or else it will cause an error displaying your image.
Asset: The trading asset
Direction: Long or Short, it’s up to your idea
Entry/Target: Show people your planned entry and target. This is only the PLANNED number. You can and will have to execute the order manually later.
Leverage: Up to 10x leverage supported.
Raise fund: The minimum and maximum amount of funds you want to raise for your idea
Commision: The performance fee you will take from the investors if the trade makes profit. Up to 70%
Raising time: The maximum duration of fundraising before it is forced to close. You can manually end the fundraising period before the due time if the minimum amount reached
After everything is filled, and you are satisfied with the preview, you can create your farm and it will appear instantly on the Discover page!
How to start trading
After publishing, your Farm will start the fundraising process. If the minimum amount of fundraising has been reached, you can manually end the fundraising period and start trading. You can also choose to cancel the Farm if you think your prediction has gone South.
Go to your Farm and click the “Close Fundraising & Start Trading” button to start
You now can see the current price of your selected token. When you see the suitable entry price, you can execute your order. Enter the desired amount of funds and click the “Open Long/Short” button
After opening the position, you can see the current status of your Farm, with token price and your PnL.
There are 2 ways that the order will be closed:
1. You can manually close the position when you think the situation is right.
2. The Order will be forced to automatically close if the Stop Loss price is met.
To manually close the position, you just need to click on the “Close Long/Short” button and confirm in your wallet
After the order is closed, you can claim your invested and revenue amount (with protocol fee deducted) right at the Farm detail page.
3. How to invest in a Farm
The second feature of Single Farm is to join a Farm and let the pro traders help you have better trades with your original idea!
To choose your best-fit Farm, you just need to connect your wallet, and go to the Discover page. All kinds of Farms will be available, with different Farm Managers, Assets, Directions, etc. for you to choose. Just like a Trade Idea buffet!
On the Discover page, you can see the preview with the most important information about the Farm and the Farm Manager with the remaining fundraising time for you to join. If the fundraising period has ended, you can no longer join that Farm.
Click on a Farm will direct you to the detail page of the Farm. Here you can see more detail about the trading idea, along with the option to join the Farm (If still in the fundraising period)
If everything is up to your taste, you can choose to join the Farm with the desired amount of funds. Just enter the amount and click join, your money will be deposited into the Farm’s Smart Contract, ready for the Farm Manager to use it for trading.
After you are done depositing, you can now sit back and let the Farm Manager do the hard work. When the Farm Manager closes the position (which means the Farm is closed), you can head back to the Farm detail page to claim back your fund plus PnL (with the fee for the Manager deducted).
That’s it! With just a few simple steps, you can follow your favorite traders’ trades!
4. Bug reporting
In the process of using deFarm, if you encounter any bug or error, please report in this form. Your feedback will help deFarm become a better platform that everyone can enjoy!
You can also request our support through any of our social media channels, or directly through our email: firstname.lastname@example.org