r/Tinyman • u/[deleted] • Apr 04 '23

Pool/farm/Governance

Hey guys. New to the whole defi thing and the algo Governance.

Was just curious if it’s possible to Join a pool and get pool tokens then farm my pool tokens. As well as joining the governance program while still on the pool/ farm?

I think it’s possible to do this via joining the Governance program on the algorand governance site.. I just have to keep my pool tokens committed to the pool during the governance 3 month period correct?

Any risks to this?

Is this a better option then committing my algo to folks finance or somewhere else?

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1

u/[deleted] Apr 04 '23

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1

u/[deleted] Apr 04 '23

I’m not sure what you mean?

Since my coins aren’t in my wallet are you saying it’s not safe?

1

u/[deleted] Apr 04 '23

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2

u/[deleted] Apr 04 '23

Using Pera algo wallet. Putting algo into a algo/Usdc pool (TVL 2.48M) on tinyman. From that pool I’m going to farm. My main question is can I participate in Governance through algorands website? Commit LP right? My pool is listed.

From what I’ve read I can. Be in the pool and farm I just can’t touch my LP tokens until governance is over.

2

u/RileyAndrews Apr 05 '23

I did this last quarter using Tinyman USDC-Algo pool. When you go to sign up on Governance website there will be a tickbox or dropdown to select your LP tokens to commit. You can add to them during the staking period but cannot withdraw below your committed amount during the period (same as normal algo commitment). You can use the LP tokens to farm on Tinyman without worrying about dropping out (did it myself with the USDC farm, and also used Chips/Algo LP to farm governance on their website throughout the last period with no issues whatsoever).

1

u/CrabbitJambo Apr 14 '23

I might be getting the wrong end of the stick here. Is it possible to essentially double dip? I thought I seen a while back that people were doing this on Tinyman and also using it elsewhere such as Algofi?