SWEAT x Ref Finance: The comprehensive bridging & staking user guide
Sweat Economy, 2022 number 1 downloaded health and fitness app with more than 120 Million users, just successfully launched its TGE event on Near & Ethereum on Sept 13th. The SWEAT Token was then listed on Ref finance immediately, followed by a SWEAT-NEAR farm on Sep 14 with triple tokens rewards.
If you are a SWEAT holder, and your tokens are still on a CEX or Ethereum, or they’re still in your SWEAT app, but you want to farm with them on Ref Finance, this user guide is perfect for you.
In order to join this farm, you will need 2 tokens, which are obviously NEAR and SWEAT, and a NEAR wallet.
The NEAR Token
You can buy NEAR on most of the big exchanges such as Binance, Coinbase, Kraken etc. or you can buy via some fiat off-ramp solutions such as NEAR Pay, Moon pay, or Transak, which have been directly integrated into the Ref finance UI.
The SWEAT Token
If you are a native Near user, you can buy SWEAT directly on Ref finance; But if you’re not a native Near user, and your SWEAT tokens are on a CEX or Ethereum or they’re still in your SWEAT app, there are ways to bring them to the NEAR blockchain.
How to get SWEAT from CEXs to Near
Since the TGE, SWEAT has been listed on numerous exchanges such as OKX, Bitfinex, FTX, Kucoin, Bybit, Huobi and Gate, which makes access to it super easy.
However, not every exchange supports withdrawals to the NEAR network. As we understand, so far OKX, Kucoin, Bybit, and Huobi are the exchanges that allow users to withdraw their SWEAT to NEAR.
This time, we are going to use Bybit as an example.
After you’ve got your SWEAT tokens ready, go to your Spot Wallet, and here you can see the option to Withdraw.
On the pop-up window:
- Choose your Chain Type as NEAR( or NEP-141)
- Fill in your Wallet Address that ends with .near
- Enter the amount you want to withdraw (Notice that there will be a withdrawal fee, the amount depends on the exchange)
Hit Submit after you’ve confirmed everything.
Finish with some Verification steps and it’s done!
How to get SWEAT from Ethereum to Near
If you are a participant of SWEAT IDO on MakerDAO or you bought your SWEAT on Ethereum, check out the tutorial below.
You can bridge SWEAT from Ethereum to NEAR via Wormhole, aka Portal Bridge.
First, go to https://www.portalbridge.com/#/transfer
Choose the route Ethereum > NEAR, then connect your Ethereum wallet.
Next, choose the token we’re about to bridge, which in this case will be SWEAT.
Enter the amount you want to bridge, then hit Next
Connect your NEAR Wallet in the next step, and continue by hitting Next.
You will need to Approve Portal Bridge to transfer your tokens in the next step, you can choose to allow the bridge to spend infinitely so you don’t have to approve next time, or you can choose to approve only the amount you are about to send.
After the Approval step, it’s time to transfer the tokens. Simple hit the Transfer button, confirm the transaction in your wallet and you’re good to go.
Bridging can take quite some time, ideally around 10–15 minutes.
The final step is Redeeming the tokens, just need to hit Redeem and you are done! Easy right?
How to get SWEAT from The Sweat Wallet to Near
Sweat wallet is the app you need to download in order to manage the tokens you’ve collected from walking in the main app. If you haven’t downloaded it yet, find it here.
Hit the Transfer button, and choose Send.
Enter your NEAR address, and hit Continue.
Fill in the amount you want to transfer, and hit Continue.
Slide the glider, once you’ve confirmed everything.
And done, no sweat! :)
How to farm with SWEAT on Ref finance
In order to farm, you will first need to add liquidity to the pool to receive the LP tokens.
Here you will need both SWEAT and NEAR at a specific rate depending on the corresponding value of 2 tokens at the time you provide liquidity.
Liquidity farming is not without risks, it is strongly recommended that you should do your own research before making any decision. Ref finance has a Risk section that we recommend you give a look.
After you’ve added the liquidity, go back to the previous farm page and proceed to Stake the LP tokens, or Share
Enter any amount you like, and hit Stake.
Approve the transaction in your wallet and you are done!