399% on Solar Beam By Defi Dad

Moonriver Network does not offer the same security and decentralization as Ethereum, but if you’re already familiar with DeFi on other chains like Polygon, this is similar in nature. Personally, I would not risk all of my portfolio on Moonriver, but I’m willing to experiment and try new apps that provide enough reward to justify the risk.

How to Earn Up to 399% APR with Solarbeam

The opportunity today is similar to farms found on SushiSwap and other AMMs. It simply requires one to provide liquidity and then stake the LP to earn additional SOLAR rewards.

Before we get started, please be aware of a few major risks. 

• Smart contract risk is always a risk. 
• Oracle failure could also contribute to a loss of funds.
• The quoted 399% APR is likely to change by the time one hops into this tutorial. Also the trading volume and the market price of SOLAR reward tokens are likely to change.
• Moonriver is a less secure blockchain than Ethereum. Be aware it is not comparing apples to apples to compare DeFi on Moonriver.
• As always, this is not financial advice.

Here’s how to get started!

1 - First, I need to identify which LP/farm appeals to my desired exposure. For example, I may want to just earn high stablecoin-based rewards so if I go to the Solarbeam Farm page I can review all the different farms.

2 - Let’s assume I choose the DAI / USDC LP earning an estimated 42.49% APR. I’ll need to migrate DAI and/or