JRT-ETH pool with auto-compounding is live on Beefy.finance!

JRT-ETH Sushiswap liquidity providers on Polygon can earn compounding yeild using Beefy.finance vaults.

Beefy.finance auto-compounding vault

Beefy is a leading yield aggregator deployed on multiple chains. A yield aggregator aims at increasing your yield on an asset (a token or a LP token for example) by harvesting automatically your rewards and selling them to buy more of the said asset, in order to generate compounded yield (APY).

Compounded yield are higher than the basic yield (APR) that you are earning since the principal used for generating the yield constantly grows. Beefy charges a performance fee of 5% for this service.

Visit the Beefy polygon app: https://app.beefy.finance/#/polygon

JRT-ETH auto-compounding vault.

Beefy has already launched 3 auto-compounding vaults on Polygon: the jEUR-USDC, jGBP-USDC and jCHF-USDC KyberDMM’s pools. Beefy harvests and sells the AUR-0112 token to buy more jFIAT and USDC and reinvest them in the pool. This creates more selling pressure on the AUR token, and more buying pressure on both the jFIATs and USDC, which create arbitrages opportunities for traders.

This results in a higher yield: without compounding, LPs are earning around 30% APR, vs around 50% APY on Beefy.

Beefy’s jFIATs-USDC auto-compounding vaults

To participate to this new vault, user must visit https://app.beefy.finance/#/polygon and follow these instructions:

1. Click on Buy Token to buy JRT and ETH on Sushiswap if you do not have any or enough of them
2. Click on Add Liquidity to add JRT and ETH to the Sushiswap liquidity pool.
3. After having added liquidity, your liquidity token (JRT-ETH SLP) will appear here.
4. Approve the smart contract to interact with your SLP tokens, and then deposit the desired amount.

SOURCE: https://medium.com/jarvis-network/jrt-eth-and-jfiats-usdc-pools-with-auto-compounding-are-live-on-beefy-finance-f306376143ce