How to Farm in Bagels with Multiple Strategies? (including yield calculation formula)

Visit Bagels at https://bagels.finance/

At the upper right corner of the front page, link to your BSC wallet address.

Leveraged Farm

Currently, 11 trading pairs are provided: MDX/USDT, BTC/USDT, BNB/USDT, ETH/USDT, BNB/BUSD, MDX/BNB, MDX/ETH, MDX/BTC, MDX/BUSD, BNB/BTC, and BNB/ETH.

【High-yield Mode】

Operational Strategy: Choose trading pairs with high yield and BAGEL daily output, and choose 2.5–3x leverage

Operational process: Take BNB/USDT as an example

  1. If you deposit USDT and borrow BNB with 3x leverage. The steps are shown in the screenshots below:

Fees Description:

Deposit 200 USDT.The total value of the position will be 600 USDT with 3x leverage. Then, borrow BNB worth of 400 USDT from Bagels platform. Since BNB and USDT are automatically converted to a ratio of 1:1, there is a gap of 100 for USDT.Then,BNB is automatically exchanged for 100 USDT on Mdex. Finally, the balance is 300 USDT and BNB worth of 300 USDT,i.e. 0.6334 BNB +300 USDT.

Therefore, the necessary expenses for the whole process include: 0.3% commission and slippage when exchanging on Mdex and interest on BNB.

2. After opening a position, you can check the risk value of the position on the home page. When the risk rate reaches 100%, the position will be liquidated and controlled within 85% as far as possible. Choose “Default” when closing the position, and you can reduce the transaction fee(0.3%) and slippage of the Mdex exchange.

Tips:

1)As long as there is one of the assets can be leveraged,a trading pair can be leveraged in four ways.For instance,the BNB/USDT trading pair, the user can borrow USDT (long BNB), borrow BNB (short BNB), borrow USDT (short BNB), borrow USDT (long BNB).

2)Which asset you borrow means to short that asset. Attention: Be careful to judge the direction of long — short.

3)Loans with 2.5x and 3x leverage need to pay three kinds of fees: 0.3% transaction fees, slippage and interest on borrowing, of which 0.3% transaction fees and slippage are all Mdex.

Yield Calculation:

Factors that vary in yields include the position of principal (excluding stablecoin),and the price change of MDX and BAGEL.

【Vault Mode】

Operational strategy:hedge position(2xleverage)

Operational process:Take BNB/USDT as an example

1. Open the first position: deposit USDT and borrow BNB, 2xleverage, short BNB. The steps are as follows:

2. Open the second position right after at the same address without delay: deposit BNB and borrow USDT, 2x leverage, long BNB. The two positions are of equal value. The steps are as follows:

Fees Description:

With 2x leverage, assets are automatically converted to a ratio of 1:1.

No need to exchange assets in Mdex, so the two positions hedged only need to pay borrowing interest.

No Mdex swap fee (0.3%), no slippage, the lowest cost, and the total principal value is infinitely close to risk-free.

Tips:

1)Select trading pairs with stable coins (such as MDX/USDT, etc.) for the lowest risk.

2)2.5x and 3x leveraged loans can also be hedged, requiring more Mdex transaction fee (0.3%) and slippage cost.

3)Do not trade hedge positions frequently. Easy to increase interest costs.

4)Select “Default” when closing the position, otherwise it will also bear the swap transaction fee (0.3%) and slippage cost of Mdex.

Yield Calculation:

Factors that vary in yields include the position of principal (excluding stablecoin),and the price change of MDX and BAGEL.

Single Asset Vault Farm

Currently supported assets: MDX, USDT, BNB, BUSD, BTC, and ETH.

Take 1000 MDX as an example

Operational process

  1. Deposit 1000 MDX into the [Lend] pool to obtain the gMDX token, as shown in the following screenshots:

2. Calculate how much veBagel is required for 998 gMDX farming with the maximum acceleration multiplier of 2.5x, as shown in the screenshot:

3. Deposit BAGEL into Boardroom to get veBAGEL. To maintain the maximum acceleration multiplier for a longer time, the veBAGEL should be greater than the minimum required. The steps are as follows:

4.Deposit 998 gMDX in [Farm] pool to start farming. Acceleration multiplier and acceleration APY will be displayed when depositing. Steps are shown as following screenshots:

Yield Calculation:

1)Take 1000 MDX as an example.You should mainly look at these two number:Lending APR and Vault Farm APR to check the yield rate, namely the annual borrow rate and farming APR. Steps as shown as follows:

2)【Lend】Lending daily yield:

(e.g. : 1000 ×51.36%÷365≈1.4MDX)

3)【Farm】Farming daily yield:

(e.g.:1000÷489078×1500×2.5≈7.66BAGEL)

Tips:

1)The number of VeBAGEL decay with the remaining time of the locked BAGEL in the Boardroom. For example, if 500BAGEL is locked for 4 years, there will be 497 veBAGEL on the first day, and the veBAGEL will decrease to 373 on the 365th day and 289 on the 730th day.

2)BAGEL can be deposited multiple times at the same address, but the next Boardroom lock time must be greater than, or equal to the previous lock time, and not less than the previous lock time. When the next lock time is longer than the previous lock time, it is calculated based on the last lock time and obtain a higher Boost multiplier for vault farm.

3)VeBAGEL can share the gUSDT revenue, that is 50% of dividend from the platform revenue and the right of DAO voting and governance.

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