How to use Vaults
Now that you know all about Reaper Farm, here is how you can use it to maximize your own compounding interest. Here are the basic steps to enter any vault.
Step 1: Acquire relevant tokens (LP, single stake, etc.) from your choice of DEx.
Step 2: Deposit relevant tokens (LP, single stake, etc.) into the Reaper vault.
Step 3: Relax while Reaper’s Harvest-Bots automatically collect rewards and auto-compound them back into the vault.
Step 4: Withdraw your Reaper riches whenever you want.
Note: you can skip step 1 by zapping-in to most vaults.
The Reaper team have developed innovative zapper technologies to allow users to enter vaults with any one of the underlying assets and exit into another. Deposit one asset into a vault, and smart contracts will automatically route that asset through the respective exchange and their own smart contracts to produce LPs on your behalf. This means users no longer have to interact with external protocols to make LPs before entering vaults. Users can also withdraw their assets via the zapper to break their LPs and route underlying assets through the exchange to withdraw one type of asset.
For example, a user could zap-in $100 worth of FTM into a FTM-USDC vault, which would route the FTM to produce $100 worth of LPs (less fees and slippage), and deposit those LPs into the vault and start auto-compounding. Should the position grow to a value of $200 worth of LPs, the user could zap-out $200 worth of USDC (less fees and slippage), and the vault will split the LPs and convert the FTM to USDC on the user’s behalf.
We are developing a video walkthrough of how to use Reaper vaults.