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How to withdraw the original tokens from an LP token on VVS Finance using the Crypto.com Defi Wallet
Disclaimer: This is not financial advice and is my own experience. This is purely for entertainment only. I am not associated with Crypto.com and you should do your own research before making any decisions. At the time of producing this video, I do hold CRO on both the app and the exchange. Don't invest anything you can't afford to lose.
In this video, we continue on with Cronos defi, exploring how to convert an LP token from VVS Finance back into the two original tokens that were deposited to create the LP. I am using a VVS-FER LP token in this example. VVS Finance Crystal Farms are dual asset liquidity pools where you earn a reward derived from swap fees charged by the DEX to users who are swapping between the two tokens. Note that due to impermanent loss, you may receive a different quantity of each of the two tokens from the LP than what you put in.
In this video, I assume you have a VVS Finance LP token in your Cronos wallet as well as CRO tokens to pay the network fees.
I will also be using the Crypto.com Defi Wallet app. If you haven't got a Crypto.org chain Defi wallet yet, check out this video on how to set one up in the Crypto.com Defi Wallet mobile app: https://www.youtube.com/watch?v=stlGozGNQD0
You might also be interested in:
How to claim VVS Crystal Farm LP rewards: https://youtu.be/IHV2RdFhzIs
How to stake CRO to a validator in the DeFi wallet: https://youtu.be/JzS88XCvDEc
How to stake VVS to get xVVS: https://youtu.be/0_vk9ohx-vs
How to stake xVVS in VVS Glitter Mines: https://youtu.be/F3lwBUQc00k
Cake DeFi: https://youtu.be/_fadhL5YAdA
If you don't already have a Crypto.com account, you can signup and get a USD $25 bonus in CRO when you stake for a Ruby card or higher by using my referral link: https://crypto.com/app/h9tfssd364
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Follow me on Publish0x: https://www.publish0x.com/@matthewbrown?a=w9aAn8APbv
Follow me on Twitter: https://twitter.com/MattTalksCrypto
Checkout my blog: https://matthewbrown.id.au
Gear I use and recommend: https://www.amazon.com/shop/stillaslife
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Paystring: matthewbrown$paystring.crypto.com
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