Chocoswap DeFi mining instructions

4 min readNov 4, 2020

Chocoswap, the first cross-chain decentralized exchange on the Ontology, aims to solve the existing issues in the DEX sector by providing instant transactions, lower fees, cross-chain asset exchange, improved user experience, and many other benefits. Moreover, the dual token economy model will incentivize users to provide liquidity and trading volume, thus facilitating the sustainable development of the Chocoswap ecosystem.

Here is the Chocoswap mining instructions below:

First of all, log in your account via www.chocoswap.finance (test version currently), and you will be able to check the VNLA mining status. If connecting your wallet, you can check the VNLA harvest. VNLA has a limited supply of 90,000, and no pre-mining, no team reserve, no initial circulation, and it can only be mined by staking CHOCO/USDT, VNLA/USDT and DAI/USDT LP token. This way, VNLA will preserve fairness in the governance system.

2. Click the button on top right-hand corner to connect your wallet, and we support MetaMask currently.

3. After connecting, you can check the VNLA balance and pending harvest.

4. Click Menu and you can find three mining pools, and in the testnet mode, you can choose DAI/USDT LP token to mine VNLA.

5. Before staking, you need to provide liquidity for DAI/USDT trading pair in the Ropsten testnet of Uniswap（uniswap.io） so that you can get the LP token.

Add DAI and USDT in the liquidity pool of Uniswap, and click “Supply”. then “Confirm Supply”.

Then, you can see the LP token in your wallet as below.

6. Go back to www.chocoswap.finance, and go to Menu, click “Approve DAI-USDT” LP, then click DAI-USDT, and click “+”。

7. Fill in the numbers below, and deposit DAI-USDT LP token, and click “DEPOSIT”. Then, click “Confirm” in your wallet.

After a while, you can see the status as completed staking, and it starts mining VNLA. You can check the total staking amount, and earned VNLA.

8. Click “Harvest” below to get your VNLA reward. When you remove the DAI-USDT LP token staking, VNLA will be sent to your wallet.

9. You can check your VNLA asset by clicking “My wallet”, and also can check it on the home page (if cannot, please disconnect-reconnect the wallet). And it is obvious the VNLA amount is the same with that shown in Metamask.

10. If you want to cancel staking, please click “Unstake”, and fill in the amount, then click “Unstake” again.

11. If you want to quit liquidity mining, you can go back to Liquidity pool of Uniswap, and select corresponding liquidity, and click “Remove” to get back your DAI and USDT.