Simple Handbook of farming on Harmony & Sushiswap

Welcome to the farming Handbook of Harmony & Sushiswap!

Harmony is one of the most innovative public chains, aiming at scaling Ethereum applications and cross-chain finance. Harmony (token “ONE”) ranks the 90th with $850M market cap according to CoinGecko at the time of writing.

Sushiswap is one of the most popular decentralized dex among multi chains with over $3B TVL(Total Value Locked).

Recently Harmony announced the coorperation with Sushiswap and planned to subsidy $4M to the liquidity providers. And now (July 6th, 2021) the farming party has begun!

Next we will show the detailed handbook to help you transfer token (take USDC as an example) from Ethereum to Harmony.

Step 1

Go to the Harmony official bridge https://bridge.harmony.one/. Log on your Metamask and switch to Ethereum network. Select ETH — ONE bridge and choose ERC20 and USDC. Then type the amount you want to transfer and use the same address in Ethereum (as Harmony is EVM-compatible, you can use the same address).

Step 2

Click “Continue” button and move on to next page. “Confirm” the gas limit and amount again.

Step 3

The Bridge website will revoke Metamask to “Confirm” the “Approve USDC spend limit” and “Transaction fee”. It should be noted that you need to pay twice gas fee, about $20–40 in total.

Step 4

Wait for about 5 minutes and Congratulations! You have finished the token transfer by Harmony Bridge. You could add the transferred token into Metamask-Harmony network. In this example, the harmony-type USDC is named “1USDC” and shown as “USDC” in Sushiswap. You could look up in the blockchain explorer to see more details.

Step 5

Go to https://app.sushi.com/swap and remind you should do the liquidity mining with Harmony network. Swap, Add, Stake and Farm as on other public chains.

If you have anything to ask, pls contact Telegram@jimmy_Yin9.

If you are interested to discuss which pool is the best on Harmony & Sushiswap, taking account of trading fee, staking rewards and impermenant loss, welcome to join https://t.me/joinchat/eZLR-LgrFAU4MDg1.

One more thing

If you want to transfer USDC from Polygon, you could use the third party bridge with coorperation with Harmony, like https://izumi.finance/bridge, as there is no official bridges between Polygon and Harmony for now.

izumi Bridges only takes you about 1 minute and less than $0.1 gas fee to transfer USDC token.