v2 Farms

Version 2 NFT farms are the ones that you create at https://waxdao.io/v2/create-farm

It should be noted that "Version 2" was a bad naming convention that has resulted in some confusion. They should really be called "Version 3", since we had previously released some "advanced Version 1" farms, that were being referred to as "Version 2".

When we speak of Version 2 Farms in this documentation, we are strictly referring to the ones that require you to type "I understand how the new farms work" before you can create them. At waxdao.io/farms, if your farm does not say "V2", it is not what we are referring to as Version 2 here.

FAQ

What is the benefit of creating a Version 2 farm, instead of a Version 1?

Version 2 farms allow "unlimited NFTs" to be staked in them.

They do not require any external scripts to process, so there are never any delays in payouts updating.

They allow up to 3 different reward tokens.

They are more efficient for users who stake in them, compared to Version 1.

They are more efficient for the WAX Blockchain as a whole, consuming less resources - which is good for everyone.

I can't find the page to edit my Version 2 farm.

If you can't find it, all you need to do is change "/farm" to "/edit-farm" in the URL. For example, if your farm page was waxdao.io/v2/farm/waxdao, all you would have to do is change it to waxdao.io/v2/edit-farm/waxdao

Can I kick people out of my Version 2 farm?

No, only version 1 farms support this feature. Version 2 farms are meant to provide an extra level of security for the people who stake in them, which means you can not kick people out of them.

Note: you can kick people if the farm is expired, or hasn't started yet.

Can I change the payouts after the farm is in progress?

No, but you can change the staking reward amounts BEFORE the farm opens, or AFTER it expires. To do this, you first need to make sure the farm has no one staking in it. If (AND ONLY IF) the farm is already expired, you can kick all the stakers from the farm in order to make changes to the reward structure. People will need to re-stake after you open the farm back up.

How do I kick people/change the payouts?

See "how do I re-open my expired farm" below.

My farm expired, do I need to pay again or can I re-open it?

No, all you need to do is make sure no one is staking in the farm, deposit more rewards (if necessary) and then change the expiration date of the farm. If you need to change the payout amounts, make sure to do so before setting the new expiration date.

How do I "re-open" my expired farm?

Note: For v2 farms, if you want to extend the farm, it's always best/easiest to extend BEFORE it expires. Otherwise the process gets a bit annoying for everyone involved.

If you have a v2 farm that expired and you want to extend it again:

Step 1

You must "close" the farm here:

https://waxblock.io/account/farms.waxdao?action=closefarm#contract-actions

Step 2

You must kick all users from the farm. We added a "bulk kick" option here:

https://waxblock.io/account/farms.waxdao?action=kickmany#contract-actions

Step 3 (optional)

If you want to make any adjustments to staking values, which assets are stakeable etc, NOW is the time! You won't be able to remove/modify stakeable assets after you open the farm and people start staking.

Step 4

Make sure you deposit enough rewards to cover however many NFTs you plan on letting people stake in your farm.

Step 5

Use the "openfarm" action to reopen your farm. This should be available on the UI, but if you're having issues there, you can do this directly on waxblock:

https://waxblock.io/account/farms.waxdao?action=openfarm#contract-actions

The expiration is a timestamp, you can calculate it at epochconverter.com if you need to.

"Human date to timestamp" > copy/paste the 10 digit "epoch timestamp"

Someone tried to stake in my farm, but got this error: "Needs xxxxx but has xxxxx." What's wrong with the farm?

The issue here is that the farm creator has not deposited enough rewards to cover the NFTs that the user is trying to stake. The solution is for the farm owner to deposit more rewards to the farm.

How do I determine how much rewards I need to add to my farm?

All you need to do is determine how much rewards each NFT that gets staked will earn by the expiration date of the farm.

For example, if the farm is set to expire in 100 days, and each NFT can earn 1 WAX per hour.

24 hours * 100 days * 1 WAX = 2400 WAX per NFT.

If you deposit 2400 WAX, only 1 NFT can be staked. If you deposit 4800 WAX, 2 NFTs can be staked. And so on.

Can I add more than one reward token to a farm?

Yes, you can add up to 3 reward tokens. However, you must enable these tokens when you create the farm. You can not add new reward tokens after the farm is created. For example, if you set up a farm and only enable WAX as a reward token... if you later decide you want to reward with WAX and LSWAX, you would need to start a new farm and enable both tokens.

Keep in mind that you don't have to give rewards for each token you enable. You can set up a farm and enable WAX, LSWAX and WAXDAO for example. During the first "staking period", maybe you only reward LSWAX. Then after the farm expires, you decide that you want to reward people with all 3 of the enabled tokens. This is totally acceptable, but you can only change reward tokens/amounts BEFORE the farm opens, or AFTER it expires.

Can I close my Version 1 Farm and get a free Version 2 Farm?

No, Version 1 and Version 2 are on separate smart contracts. Development of Version 2 also took a lot of time, effort and funding from our team; we think it is fair that upgrading to a Version 2 farm should incur a cost. That cost is still very cheap anyway (less than $10 usually), so it should not be a major issue for anyone.