Mystic Finance is a decentralized lending interface on the Flare Network that helps you earn yield by supplying assets into curated vaults. These vaults accept a single token (like FXRP, wFLR, or USDT0) and can allocate that liquidity across multiple lending markets based on curator-defined risk parameters and strategy rules. Your return can come from borrower interest and any vault-specific incentives, so the displayed APY can move over time.
In this tutorial, you’ll learn how to earn yield by supplying FXRP, wFLR, or USDT0 into Mystic Finance vaults with Bifrost Wallet. We’ll cover the exact flow to deposit, track your position, and withdraw.
Step 1: Connecting Your Bifrost Wallet
Open your Bifrost Wallet and tap the "Browser" icon to launch the in-app browser
Enter app.mysticfinance.xyz in the address search bar
Tap the "Connect Wallet” button
Select “Bifrost Wallet”
Tap “Connect”
You have now successfully connected your Bifrost Wallet to Mystic Finance
Step 2: Adding liquidity
You can add deposit FXRP, wFRL or USDT into the vaults. For this tutorial we will be depositing FXRP.
In the ”Earn” page, tap the “Core FXRP” vault
Enter the amount that you wish to deposit and tap “Confirm”
Tap “Confirm” to confirm the transaction
Tap “Confirm” again to confirm the deposit
Tap “Close” to exit
You can review the deposit details in the “Position Summary” section
Step 3: Withdrawing Liquidity
Navigate to the FXRP vault page and tap the “Withdraw” tab
Enter the amount that you wish to withdraw from the vault and tap “Confirm”
Review the summary of the transaction and tap “Confirm”
Tap “Close” to exit
Your FXRP, wFLR and USDT0 don’t have to sit on the sidelines. Take the value you already hold and turn it into a yield-earning asset in your control. Mystic Finance makes it easy to put those tokens to work via liquidity vaults and Bifrost Wallet keeps the experience simple and secure from Connect to Withdraw.
About Bifrost Wallet
Bifrost Wallet is a secure, private, non-custodial crypto wallet. It works as your digital keychain for blockchains and assets such as Flare (FLR), Songbird (SGB), Ethereum (ETH), XRP Ledger (XRP), and Bitcoin (BTC).
Click here to subscribe to Bifrost Wallet Youtube channel to discover more in-depth, step-by-step tutorials. Stay safe, stay with Bifrost Wallet.