Farming On SushiSwap (CELO Bridge Tutorial)

Transcript

[Music] d5 slate team [Music] it's your boy andy and welcome back to the defy slate youtube channel smash the like button on this video that really helps us out and sit back and enjoy the content thank you very much back to sushi swap my favorite decks welcome back to the defy slate youtube channel it's your boy andy back today with another video another tutorial for you guys and yes sir we are going to be farming today and you guessed it it's going to be a multi-chain farm as we've been doing and keeping up the pace with the multi-chain world i really think it's the biggest opportunity right now in d5 to get ahead i mean it's like ethereum was back in the day 2020 early

2020 when we started this channel um you know it was fun it was low gas fees high yields and really low liquidity there wasn't a lot of users ethereum's just jammed now there's so many users so much liquidity so you know for a lot of us uh people that are trying to get in there and farm with smaller amounts and you know get early early access and better yields uh we're looking to the multi-chain world and today's chain that we're exploring is the celo network so we're going to show you guys sushi swap on silo how to get access to silo how to bridge and how to farm so let's do it so first um you know you you're going to want to start with some funds in your ethereum wallet um so this this wallet has a very small amount of funds in it

um so you know we're for the point of the of the demonstration we'll just happily kind of show you what this looks like um so in this example you're gonna need a minimum of ten dollars to bridge so let's say we had one each to bridge um right it's it's only allowing us to do our smallest balance but that's okay right all you got to do here is literally come to and press silo make sure that the destination address is the same address as your meta mask and hit bridge it's that simple guys you pay the transaction fee and it'll get to your it'll get to your uh to your metamask wallet connected to the ceo network there pretty quickly i think five ten minutes uh or so this is so this is the optics.app bridge it's the bridge that i would use to get over to ceelo um so i'm

not going to walk you guys through the bridge because it's going to take us some time but it's super simple right you're able to get your assets there onto celo using the optics bridge um octix.app now what you want to do is come over to the chainlist.org and add the silo mainnet so i'm going to go ahead and add to metamask i'm going to approve i'm going to go ahead and allow it to switch all right so you can see i have zero ceilo but i am connected to the silo network through the metamask wallet and when i come to sushi i'm on silo this is it here it is and the big thing about silo is the mobile d5 so a lot of d5 right now has been through the through your computer through your laptop through

your desktop right whatever it is your d5 has been done on the computer what cielo is trying to do is do mobile first d5 which i think is going to be huge um so you know this is just to swap on celo again guys super familiar with this stuff um you know this is sushi swap right super simple um it's kind of how you get going and i mean it's as easy as it gets right so if you want to start farming what you're going to want to do is find a pool to add and in order to find those pools you can come to farm so check it out okay so these pools are pretty sweet so this is basically a stable coin pool right now at 100 a year insane here's another stable coin pool at 100 per year um and here's a silo

east pool which watch out for the impermanent loss guys there's definitely going to be some on this one um but just be careful and here's a stable coin effectively a stable euro pool with eath at 229 so if you're not frothing at the chops right now i don't know what to tell you this is a as as great as it gets for yield farming on a multi-chain world um yeah the fees are absurdly low and it's super quick as well so how i play this is i would get into a stable strategy and milk that as much as i can yes i know the market is bullish yes i know everybody is long and yes i do know that ceelo is also bullish as a token um you know and so i do understand these things but i'm telling you guys

and you when you can get a hundred percent or close to 100 yield on stables you just do it you just do it all right so um that is a good farm to start with and then i would i would probably hop into any one of these three this one being the most risky so you can think of this as basically the pool two farm you know because you're earning celo and you have that as your as your base again if you're bullish on silo long term this is a great farm to be in because as each goes up it'll pull ceelo up with it um in this trading pair you'll always be selling eth to buy silo if eath goes up so that's good um you'll be accumulating more sealant if you're bullish on ceelo long term this is definitely a good pool to be in because

you're getting a bunch of sushi and sealer rewards i love this pool i love sushi i like silo a lot do you guys notice the difference there it's funny um and so yeah i mean i think this is a really cool pool you just gotta watch out for the impermanent loss um which basically means if eath goes up a lot and ceelo lags or if silo goes way up or and you know eth pulls back you can kind of get some impermanent loss a really cool way to um find out what your impermanent losses is to go to the netlify impermanent loss calc so this is a really cool app and it'll show you like okay so like for example um let's say we have celo and wrap the ease and the pool weights are 50 50. and so

let's say c lo goes up 200 percent and eth only goes up you know 45 so you would lose 6 of your position less so than if you just held the equal amount of silo and eath but but you're getting this so this is going to cover any impermanent loss in my opinion unless something crazy happens where you know ceilo goes up 200 or what would be more likely would be sela goes down you know 20 percent 20 and east goes up 100 and you're like wait how did that happen you know then you would get a bigger impermanent loss but in my judgment if ether is going up 100 that means the entire market is about to go insane um you know and i would expect ceilo to go up somewhere

like 150 or something like that right and so in that case you're getting plenty of yield rewards plenty and you're not really worried about impermanent loss now in these in these cases with the c your pair and the c usd pair when you come to the calculator you can always assume that this is going to change by zero so no matter what there's going to be impermanent loss so if you're kind of neutral on price action right now you don't really know if it's going to go up or down these are some good pools to be in see your cusd rap teeth you know because if if eath goes up 10 you know sure there's a tiny bit of impermanent loss 20 percent you know a little bit but you're protecting your downside and you're definitely getting quite a bit of yield right so i would totally check out

impermanent loss on the baller app and just kind of see what you're doing now let's also have a look at ceilo to kind of see what what we're looking at here so price looks bullish up 12 today it really looks like it's it's rising right now um so definitely something to you know note as you as you kind of see and explore uh what's happening with the yield opportunities right so you know the price does rise um you know in the last few days you can buy these on these exchanges but guys you know what you can really do is just go on to sushi swap and bridge over using d5 um let's see sushi in here i don't see sushi okay that's no worries um what what you can do is you can go to sushi swap and just bridge over some

eath and then all of a sudden you know you you you have yourself your silo you don't have to go through any centralized exchanges um and so yeah this is the stable coin silo dollar market caps still relatively low so you you would assume that the slippage on sushi might be a little bit um i guess what we can do is we can go to um the analytics let's see where we can find the analytics here um tools vesting um dev open source docs ceilo is there a charts let's see um pool no i don't i don't i'm i'm i'm not seeing where we can see the analytics

but what you can do is you can see the silo block explorer as well this is going to be a really good tool for you guys to kind of make sure that you're watching out what's happening um you know it shows you the chart it shows you what what's going on some of the tokens available um so there might be some alpha in this ubiswap looks interesting let's check out ubiswap real quick um oh ceelo dex look this is it mobile first d5 this is going to be huge guys um it's going to be absolutely huge so let's see what the app looks like all right basically a uniswap clone so there's quite a few wallets you can use here um you know we have the metamask account connected on silo

and here we go okay okay all right all right some decent yields here but nothing really compared to what we saw in sushi swap um definitely some decent deposits here as well yeah so i mean pretty decent apy here um doesn't compare to swap just a little bit less um here's another good one uscc celos you're kind of in between pretty good yield there um yeah so that's that that's interesting i think there's definitely some alpha here guys if you want to look at some at some of these tokens you know kind of getting early in to some of these with not a lot of holders yet i think um there's gonna be an interesting kind of play here you

notice how there's only you know a few thousand a few hundred holders for some of these on silo so um definitely early to see low chain uh check out sushi swap to start check out those farms that we showed um the bridge is the optics.app bridge super simple guys um and the baller app will show you the impermanent loss um and of course you guys can check out coingecko um and the ceilo ecosystem all through coin gecko um yeah pretty small guys pretty new um but silo looks still looks good looks pretty good so keep your eyes out all right and uh good luck out there farming be careful only bridge what you can afford to lose quote unquote um you know no financial advice here but we do enjoy uh what we're looking at

here on sushi swap and i think i think it's going to be a good play so