Threefold Farming Guide Part 2

Mik · June 30, 2022, 2:30pm

The Threefold Farming Guide Part 2 is presented to you by the Threefold Community.

This community initiative will be updated frequently. As always: Do your own research .

And now …Let’s New Internet…

READ THIS BEFORE GOING FURTHER

Hint: The Table of Contents is not clickable in the Farming Guide’s Forum version. To go to a chosen Q+A, search the page (Ctrl+F) with specific keywords of the Q+A .

If the Crlt+F option opens the Forum’s search function, and you want the general browser search function (which is quicker), you can simply click on the URL and then use Crtl+F, then the browser’s search function should appear instead of the Forum’s search function.

NB: Some hyperlinks are not operational and will be on the Threefold Library version of the Farming Guide.

Threefold Token (TFT)
Using TFT on the Grid

Threefold Token (TFT)

The Threefold Toke (TFT) is a decentralized digital currency used to buy autonomous and decentralized Internet services (compute, storage, and application) on the ThreeFold Grid.

No ThreeFold Tokens have ever been minted. ThreeFold Tokens are generated through a process called “Farming”. Farming happens when active internet capacity is added to the ThreeFold Grid. Independent farmers earn ThreeFold Tokens (TFT) by providing neutral and decentralized internet capacity, thus expending the usable TF Grid. Therefore no central entity controls the internet.

6 Facts About the ThreeFold Tokens

TFTs are exclusively generated when new capacity is added to the TF Grid. There are no centralized issuers. Tokens have not been created out of thin air.
While the ThreeFold Grid can expand, a maximum of 4 Billion TFTs can ever be in circulation. This limit ensures stability of value and incentivization for all stakeholders.
TFT lives on the Stellar Blockchain. TFT holders benefit from a big ecosystem of proven wallets and mediums of exchange.
By employing Stellar technology, TFT transactions and smart contracts are powered by one of the most energy-efficient blockchains available. Furthermore, TFT is the medium of exchange on the greenest internet network in the world.
The market for farming, cultivating and trading TFT is open to all. Anyone with internet connection, power supply and necessary hardware can become a Farmer or trade ThreeFold tokens (TFT).
By farming, buying, holding, and utilizing ThreeFold Tokens, you are actively supporting the expansion of the ThreeFold Grid and its use cases — creating a more sustainable, fair, and equally accessible Internet.

Threefold Wallet

Threefold Connect App Wallet

The easiest way to send your farming rewards is to use the free Threefold Connect App.

It is available for Android and iOS.

Note that for Android phones, you need at minimum Android Nougat, the 8.0 software version.
Note that for iOS phones, you need at minimum iOS 14.5. It will be soon available to iOS 13.

Threefold Connect Installation

Either use the links above, or search for the Threefold Connect App on the Apple Store or the Google Play store. Then install and open the app. If you want to leave a 5 star review of the App, no one here will stop you!

When you try to open the App, if you get an error message such as : “Error in initialization in Flagsmith…”, you might need to upgrade your phone to a newer software version (8.0 for Android and 13 for iOS).

Once you are in the application, you will see some introduction pages to help you familiarize with the TF Connect App. You will also be asked to read and accept Threefold’s Terms and conditions.

You will then be asked to either SIGN UP or RECOVER ACCOUNT . For now, we will show how to sign up. Later in the guide, we will show you how to recover an account.

You will then be asked to choose a Threefold Connect Id . This ID will be used, as well as the seed phrase, when you want to recover an account. Choose wisely. And do not forget it! Here we will use TFExample, as an example.

Next, you need to add a valid email address. This will be used as a broad KYC. You will need to access your email and confirm the validation email from Threefold to use properly the TF Connect App Wallet.

Then, the next step is crucial! Make sure no one is around looking at your screen. You will be shown your seed phrase. Keep this in a secure and offline place. You will need the 3bot ID and the seed phrase to recover your account. This seed phrase is of utmost important. Do not lose it nor give it to anyone.

Once you’ve hit Next, you will be asked to write down 3 random words of your seed phrase. This is a necessary step to ensure you have taken the time to write down your seed phrase.

Then, you’ll be asked to confirm your TF 3bot name and the associated email.

Finally, you will be asked to choose a 4-digit pin. This will be needed to use the Threefold Connect App. If you ever forget this 4-digit pin, you will need to recover your account from your 3bot name and your seed phrase. You will need to confirm the new pin in the next step.

That’s it! You’ve created your Threefold Connect account. You can press the hamburger menu on the top left to explore the Threefold Connect App.

In the next step, we will create a Threefold Connect Wallet. You’ll see, it’s very simple!

Verify your identity (KYC) by email

Once you’ve created your account, an email will be sent to the email address you’ve chosen in the account creation process.

To verify your email, go on your email account and open the email sent by info@openkyc.live with the subject Verify your email address .

In this email, click on the link Verify my email address . This will lead you to a login.threefold.me link. The process should be automatic. Once this is done, you will receive a confirmation on screen, as well as on your phone.

If for some reason, you did not receive the verification email, simply click on Verify and another email will be sent.

Change email associated with TF account

If you want to change your email, simply click on the pencil next to your email and write another email. You will need to redo the KYC verification process.

Create a Wallet

To create a wallet, click on the Threefold Connect App menu. This is what you see. Choose Wallet .

Once you are in the section Wallet , click on Create Initial Wallet . If it doesn’t work the first time, retry some more. If you have trouble creating a wallet, make sure your connection is reliable. You can try a couple of minutes later if it still doesn’t work. With a reliable connection, there shouldn’t be any problem. Contact TF Support if problems persist.

This is what you see when the TF Grid is initializing your wallet.

Once your wallet is initialized, you will see No blanace found for this wallet . You can click on this button to enter the wallet.

Once inside your wallet, this is what you see.

We will now see where the Stellar and the TF Chain Addresses and Secrets are to be found. We will also changing the wallet name. To do so, click on the circled i at the bottom right of the screen.

You can choose the name you want for your wallet. Here we use TFWalletExample. Note that you can also use alphanumeric characters.

At the top of the section Wallet , we can see that the name has changed.

Now, if you want to copy your Stellar Address, simply click on the button presented with the green circle. To access the TF Chain address, click on the button presented with the red circle. When your phone has copied the address, the TF App will give show a confirmation message as shown below.

In some situations, you will want to access the Stellar and TF Chain secrets. To do so, simply click on the “eye” button of the desired chain, and then copy the secret.

Create a Farm

Now, being a farmer, you might wonder: can I create a Threefold Farm with the Threefold Connect App. Well, yes! Here is how to do so.

Click on the hamburger menu on the top left of your screen and select Farmer Migration . This title is somehow misleading, as you can not only migrate farms, but create farms too!

To create a farm, either click on the plus sign at the top right, or click on Click to create -> .

To create a farm, choose the wallet associated with the farm. Also, choose a Farm Name then read and accept the Terms and Conditions. Finally, click submit .

The TF Connect App will give you a confirmation message if the farm was created successfully. If it doesn’t work the first time, make sure you have a good Internet connection and try again. If you click on the down arrow, you will be able to see your Farm Information .

You can see on this screen the address were your farming rewards will be sent to. It is the Stellar address associated with the Threefold Wallet used to create the farm.

See Threefold Connect App and Wallet Transactions

To see your transactions, simply click on the two arrows at the bottom of the screen, as shown below.

Connect to the Planetary Network

To connect to the Planetary Network, click on the Planetary Network on the TF menu as shown below.

Connecting to the Planetary Network couldn’t be easier. Simply click on the connection button and you will see Connected on the screen once the connection is settled.

Show Seed Phrase - Remove Account from TF Connect App

To see your seed phrase or remove your account from the TF Connect App, choose Settings in the Threefold Connect App menu.

First, to see your seed phrase, click on this button as shown below:

You will then be able to see your seed phrase. You can make sure you have your seed phrase somewhere safe, offline, before removing your account.

Now, we will remove the account from the Threefold Connect App. In Settings, click on the arrow circled in green and click on the red button with a white dashed in it. Beware: once done, you can only recover your account with your 3bot ID and your seed phrase .

You will be asked to confirm your action as a security check.

Recover Account on the Threefold Connect App

Once you’re removed your account, if you want to recover your account, choose the option RECOVER ACCOUNT on the opening screen on the app.

You will be asked to enter your 3bot ID as well as your seed phrase .

You will then be asked to choose and confirm a new 4-digit pin code. Once this is done, you will receive the following confirmation:

That’s it! You’ve recovered your account.

Move Farm from the TF app to the TF Portal (polkadot.js)

If you want to move your farm from the Threefold Connect App to the portal.grid.tf (polkadot.js), follow these steps. Note that you cannot, for now, move your farm from the Portal to the Threefold Connect App. Also note that the Farm will still be available from the TF Connect App.

First, you want to find the TF Chain Secret, this is, in short, a hex version of the private key. To find the secret, head over to the Farmer migration (via the TF Menu).

In the Farming migration section, click on the arrow (in green here) of the farm you want to export on the Threefold Portal.

Then, click on the arrow (in green) to see your TF Chain Secret.

Click on the button to copy the Secret. The App will show a confirmation message.

Now head over to the browser with your polkadot.js extension. For more information on this, check the section Creating a Polkadot.js account here.

On your browser, click on the extension button (in green).

Select the polkadot{.js} extension.

Click on the plus button as shown in green.

Choose the option Import account from pre-existing seed .

In the box EXISTING 12 OR 24-WORD MNEMONIC SEED , paste the TF Chain Secret. Note that this Secret is a HEX version of your seed phrase.

Choose a name for your account. Choose a password.

When you go on the Threefold Portal, you will now see your newly added account. Click on it.

In the Farm section, you can now see your farm. You have successfully move the farm from the Threefold Connect App to the Threefold Portal.

You can see here that the farming reward address is the same as before.

That’s it! You have successfully move the farm from the Threefold Connect App to the Threefold Portal.

Import TF Portal (polkadot.js) wallet to the TF Connect App Wallet

Now that we’ve seen how to go from the TF Connect App to the Threefold Portal (Polkadot.js), we will now show how to go the other way around. This method is very simple. You will need your Polkadot.js seed phrase handy.

Go in the Wallet section of the Threefold Connect App and click on import at the bottom right (in green).

Then simply name your wallet and enter the Polkadot.js seed phrase.

Then in the Wallet section, you will now see the wallet.

Send and Receive TFT between TF Connect Wallets

To send and receive TFT between TF Connect Wallet, go into Wallet and select the wallet you want to use.Remember that you must always send and receive TFT on the same chain, so choose either Stellar or TFChain.

Send TFT

To send tokens, select Send Coins in the wallet section. To send TFT, you can scan the QR code of the address you wish to send tokens to. This will enter automatically the necessary information. Make sure to double check that the information is correct to avoid any complications. Otherwise, you can simply enter the correct address in the section To . Choose the amount you want to send. Then click on SEND TOKENS .

Note that, for such transactions, there is a maximum fee of 0.10 TFT on the Stellar blockchain, and a maximum fee of 0.01 TFT on the TFChain. This amount is taken from the amount you are sending. It is not taken directly in your wallet.

Receive TFT

To receive tokens, select Receive Coins in the wallet section. To receive TFT, you can generate a QR code to share to the person waiting to send you tokens. Otherwise, the sender can simply use your Stellar or TFChain address and send you TFT.

To generate the QR Code, select the chain you want to use, Stellar or TFChain, enter the amount and the message if needed and click on GENERATE QR CODE . Note that there is no message option for TFChain, only for Stellar. This will generate a QR Code that can be scanned by other devices.

Send TFT to Hardware Wallet on Stellar Blockchain

Before sending TFT to a hardware wallet, make sure the hardware wallet has a TFT trustline on the Stellar Blockchain. For more information, read the section below.

Hardware Wallet

You can also have your farming rewards sent to a hardware wallet. In this case, you will need to enable a TFT trustline to receive TFT.

You can use any hardware wallet that supports the Stellar Blockchain, such as a Ledger.

Setting up a TFT Trust line on Stellar Blockchain

Setting up a trust line is simple.

We will show an example with a Ledger hardware wallet. The process is similar with other hardware wallets. Just make sure that your hardware wallet is compatible with the Stellar blockchain, as the TFT from farming rewards will be sent on the Stellar Blockchain.

First, download Ledger Live and download the Stellar application in Manager . Then, go on an official Stellar website such as Stellarterm or StellarX. For this example, we will be using Stellarterm.com.

Unlock your Ledger by entering your digit password.

Select the Stellar App.

In our case, we do not need to create an account on Stellerterm, since we are using a hardware wallet.

On Stellarterm.com, click on the button LOGIN .

At the bottom of the page, select the option Ledger or another option if you are using a different hardware wallet.

Click Connect with Ledger .

Read and accept the Terms of Use.

On the main page, click on Assets .

Scroll down and write Threefold.io in the Text box. Select TFT Threefold.io . Click Accept . Then follow the steps presented on your hardware wallet to confirm the trust line.

You now have a TFT trust line on the Stellar Blockchain. You can now receive TFT on this wallet. Perfect for safe TFT farming!

How to Buy and Sell TFT

Where to Buy and Sell TFT

There are many ways to buy and sell TFT. Here is a list of places where to Buy and Sell TFT.

How to use the BSC-Stellar Bridge

To use the BSC-Stellar Bridge, follow the following steps. If this is your first time with MetaMask and BSC, read the section Setting up TFT on Metamask.

Note: Always start with a small amount the first time you try the Bridge.

Bridge from Stellar to BSC

Pre-requisites:

Metamask account
TF Connect App+Wallet
TFT

Steps

Go to the BSC-Stellar Bridge website.
Connect your MetaMask Wallet.
Sign in with MetaMask.
Choose the option Deposit from Stellar .
Agree to the Threefold Terms .
Read and tick the box of the Warning Message .
On your phone, open up your Threefold Connect App and go to the wallet section.
Select the option Send .
Select the Stellar chain.
Click on the button Scan QR Code . The QR Code option automatically fill up your MESSAGE .
Scan the QR code that appears on the Bridge window (or write the information manually).
Make sure the MESSAGE is correctly entered.
Press Send Tokens .
Press Confirm .

In this method, you use the Bridge directly. Thus, it is normal if you do not see your standard MetaMask address. MetaMask is on ERC20 and TFT is on Stellar. You are sending TFT to the Bridge’s address, and the Bridge sends money to your wallet afterward.

Bridge from BSC to Stellar

Pre-requisites:

Metamask account
TF Connect App+Wallet
BNB for gas fees
TFT

Steps

Go to the BSC-Stellar Bridge website.
Connect your MetaMask Wallet.
Sign in with MetaMask.
Choose the option Deposit from BSC .
Agree to the Threefold Terms .
Read and tick the box of the Warning Message .
On your phone, open up your Threefold Connect App and go to the wallet section.
Copy your Stellar address.
Paste your Stellar address in the proper field on The BSC-Stellar Bridge.
Enter the amount of TFT you want to bridge.
Click on Withdraw .
Follow the instructions on your Metamask Wallet.

Some tips and information:

It’s a good idea to start with a small amount the first time.
The process is usually quick, but it can take up to 48h. In doubt, contact TF Support.
Going from Stellar to BSC costs 50 TFT.
Going from BSC to Stellar costs 1 TFT.
There is also fixed fee of 0.01 TFT when using the Stellar Blockchain.
Gas fees on BSC is usually around 5-20 gwei.
You can try the bridge later if gas fees are high at the moment of your transaction.

Setting up TFT on Metamask

Download Metamask here. Then, install the Metamask extension in your local browser.
Create a Metamask account
Switch the network to Binance chain . You will have to create a new network with following information):
- Mainnet
- Network Name: Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
Add TFT token in Metamask -> custom token -> contract address = 0x8f0FB159380176D324542b3a7933F0C2Fd0c2bbf

Validator

Introduction to Validator

A blockchain validator participates in “consensus” and maintains the record of transactions. Once transactions are verified. Validators are computers that maintain the blockchain’s integrity by keeping a record of the whole transaction history, from the first block to the last.

More Information

Now that you have farmed TFT, you might want to invest those farming rewards into the TF ecosystem. If you want to know more about the role of a validator and how to become one, read this VALIDATOR FAQ.

How to Stake TFT

With the validator program comes Delegated Staking . This feature will be implemented soon. Stay tuned!

Using TFT on the Grid

Now that you know how to farm TFT, you might want to explore the possibilities of the Threefold Token.

When it comes to learning about the real-world application and use of TFT, a good place to start is the USER FAQ.