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How to Stake LP Tokens
What SIS LP Farming is and how to get rewards with the SIS LP Farming program for providing liquidity.
The token of the Symbiosis protocol: SIS token is deployed on Ethereum and Arbitrum.
Symbiosis owns liquidity pools with Uniswap on Ethereum and Sushiswap on Arbitrum with the {ETH <> SIS token} pair.
When users add ETH and/or SIS tokens to these pools, they get LP tokens in exchange. To withdraw their assets, the users return the LP tokens and get their assets plus share of liquidity provider fees. It's how any standard AMM liquidity pool works. The reward amount depends on the trading activity in the pool and is hard to predict.
Symbiosis offers a reward program for the users providing liquidity to the liquidity pools. To participate in this program and get rewards, the users should supply liquidity to the liquidity pool and stake LP tokens. Users can claim rewards at any time in full and withdraw their assets at any time and in full. There is no vesting or lock period.
In this walkthrough, we will explain how to participate in the Symbiosis LP staking.
The given calculated % APY is based on reward auto-compounding that is executed every 24 hours.
There are three steps on the path to the LP farming rewards:
- 1.Get SIS tokens on Ethereum and/or Arbitrum,
- 2.Get LP tokens: add liquidity to the ETH/SIS liquidity pool on Ethereum and/or Arbitrum,
- 3.Stake the LP tokens.
- 1.Decide Ethereum or Arbitrum, since Symbiosis owns liquidity pools with Uniswap on Ethereum and Sushiswap on Arbitrum with the {ETH <> SIS token} pair.
- 2.
- 3.Depending on your choice, you can buy SIS tokens with - Uniswap on Ethereum or - Sushiswap on Arbitrum. If you buy SIS tokens on Ethereum, you can swap any token you have for SIS tokens with the Symbiosis protocol via Symbiosis WebApp.
To get LP tokens (you add liquidity to the ETH/SIS liquidity pool on Ethereum or Arbitrum):
- 1.
- 2.Select Uniswap (Ethereum) or SushiSwap (Arbitrum):
- 3.
- 4.
- 5.Type the amount of ETH/SIS tokens you would like to add to the pool, and press the Supply button:
- 6.Confirm your supply transaction:
- 7.Confirm the transaction in your wallet:
- 8.Wait for the confirmation. Congrats, you just received your $SIS LP Tokens 🚀
Done
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To stake LP tokens:
- 1.
- 2.Connect your wallet.
- 3.Type the amount of LP tokens to stake and confirm by pressing the Deposit button:
- 4.Confirm the outgoing transaction on your wallet:
- 5.Wait a bit for the Tx hash to be confirmed and the amount on the Your Deposits row to be refreshed:
You did it! Happy harvesting!
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Rewards are distributed block by block. Please consider waiting a bit for your rewards to grow so you can pay fewer network fees.
Notice: the given calculated % APY is based on reward auto-compounding that is executed every 24 hours.
To claim rewards:
- 1.
- 2.Connect your wallet.
- 3.Choose the Claim tab:
- 4.Confirm the transfer of your rewards in your wallet:
- 5.Wait for the transaction to be confirmed.
Done
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To unstake LP tokens:
- 1.
- 2.Connect your wallet.
- 3.Choose the Unstake tab and confirm by pressing the Unstake button:
- 4.Confirm the transfer in your wallet:
- 5.Wait for the transaction to be confirmed.
- 6.Then you can withdraw your liquidity from the ETH/SIS liquidity pool.
Done
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Octopool and Symbiosis Reward Programs (veSIS on Ethereum/BNB chain, LP Farming) are integrated with the De.Fi Dashboard. The integration allows you to view all your assets deposited in Symbiosis with De.Fi.
How to check:
- 1.Just go to De.Fi, connect your wallet or enter the address you used to deposit assets to veSIS and/or to Symbiosis Octopool, and scroll down to the protocols section:
- 2.Click the protocol name to see details:
Done
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Last modified 28d ago