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League of Ancients is the first F2P and P2E MOBA (Multiplayer Online Battle Arena) crypto game.

MOBA is a fan-favorite video-gaming category and has hugely famous titles linked to itself. As the game is based on P2E, players earn tokens upon winning battles and wars against opposing teams.

The game is based on players battling each other in an arena and is part of an extremely popular genre. It also incorporates an eSports system, as the players work to build their teams and strengthen them over time.

The crypto tokens used in this game are called $LOA. As players progress through the ranks, the number of coins earned increases to reward their loyalty to the game. Users can also purchase NFT skins and combine them to create unique skins to sell later at a higher price.

About Yield Farming

League of Ancients announced that Yield Farming would be released very soon on their website on Friday, May 27th. And two days later, the developers released a detailed tutorial about the basics of staking-unstaking in Yield Farming.

Initially, after launch, the game will mainly operate two farms:

  1. $LOA-BUSD 

APR: $650000%

Tokens Released Monthly: 2142856.8

Rewards: $LOA +LP Fees

  1. $LOA Single Staking

APR: 150000%

Tokens Released Monthly: 535714.2

Rewards: $LOA

The staff will keep launching new farms as time progresses, allowing more and more users to stake and earn rewards. 

What Is Yield Farming? How Does It Work?

Yield farming is a crypto practice of lending or staking your assets in order to gain higher rewards in return in the form of valuable cryptocurrencies. This is done over a long period of time. It is an investment approach based on DeFi or decentralized finance platforms.

This phenomenon is also known as liquidity farming or liquidity mining. It functions when Liquidity Providers (LP) provide capital to Liquidity Pools in unrestricted liquidity protocols.

Simply said, liquidity pools bind collections of crypto tokens within vaults or smart contracts. They allow trades on a Defi platform while reassuring liquidity. Users lock away their crypto-assets safely in liquidity pools to earn passively from interest generated on cryptocurrencies.

Tutorial Details 

League of Ancients released a detailed tutorial on how farming will work on the platform. It began with instructions on how to acquire and stake $LOA-BUSD liquidity tokens. Moreover, the guide included steps on how to unstake from the liquidity pools and remove the liquidity altogether.  

The developers also released information about the second farm, $LOA Single Staking. Finally, they discussed how farming will bring you rewards as you progress through the game and how to harvest those gains.

League of Ancients has been unveiling several updates and releases. With the Yield farming and staking feature’s launch nearing, players are excited and awaiting the launch announcement. 

The team asked its community to wait patiently for the announcement on their social media accounts and stay up to date with the game’s affairs. This is because the first few users to take advantage of the feature can enjoy up to 650000% APR!

Not sure about you, but I think it’s a great deal! Follow them on social media right away to be one of the firsts. 

 

Any investment/financial opinions expressed by Play to Earn Diary are not recommendations. Our content is for educational purposes only. If you plan to invest in any game or cryptocurrency then please do your own research and only spend what you can afford to lose.

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