🚗Auto Compounding
Last updated
Last updated
Auto-Compounding automatically reinvests your earnings to increase your liquidity position. It is a way to automatically increase your position size on a certain LP position. Learn more in this blog post on Mangata Auto-Compounding.
To set up auto-compounding for your LP positions, you must already be providing liquidity on Mangata X. This can be done via the Mangata X trading app, following the Add & Remove Liquidity guide. Liquidity can also be provided via Yield Bay's auto-compounding interface.
Auto-compounding requires creating a proxy account that reserves 5000MGX from your balance. If you cancel auto-compounding, you can get your reserved tokens back by following
Please note, your account should hold approximately 200 TUR to cover associated fees.
Go to https://mangata.yieldbay.io/ and connect your wallet. Find the LP pool you want to automate and click on Autocompound.
From the user interface, adjust your compounding settings. Select the duration, frequency, and percentage of rewards you would like to compound.
As of now, auto-compounding fees can only be paid using TUR. However, the ability to pay these fees with MGX will be introduced soon.
Once you've adjusted your settings, click confirm.
Proceed with the transaction, then sign and submit from your wallet.
Go to https://mangata.yieldbay.io/ and connect your wallet. Find the LP pool you want to stop auto-compounding and click on Manage.
Go to the bottom of the pop-up and click on Stop Autocompounding. A new screen will appear, asking if you are sure.
Sign the transaction from your wallet.
Make sure to retrieve your reserved assets by following How to clear proxy reserve guide.
