The key benefit of providing liquidity to a multi-staked Token pool is the staking rewards that come with BOTH tokens = stETH staking rewards 7.87% APY + stZEN Secure node staking rewards 8.67% APR, as of writing. On top of this, you can also earn additional fees by providing liquidity to a pool on an Automated Market Maker (AMM) like SushiSwap.
1. Head to SushiSwap Exchange or access Liquidity Pool directly. Click on “Pool” on the top left (if you are not directed to the pool.)
2. Click on “+Add Liquidity“. As you can see in the screenshot, Liquidity Providers are rewarded a 0.25% fee proportionate to their liquidity pool share.
3. As you can see, both are input options. Select ‘stZEN’ if you have already imported it previously. Otherwise, use this token address: 0x31B595e7cfDB624D10A3E7A562eD98c3567e3865
Next, choose how much you would like to contribute to one of the tokens. The other number will be automatically populated based on the price of the token. Hit ‘Approve stZEN‘.
4. Your MetaMask extension will pop-up again requesting confirmation of the transaction, along with the transaction fees required. Hit ‘Confirm’.
5. After confirming, it will take a while for the transaction to go through. Once approved, you will receive a verification message on the right of the SushiSwap page. Head to the Farm next. On this page, you will see a list of Farms – which is split into Farm and Onsen Farms. Onsen farms are where you will find most of the newly listed token pairings. You can do a quick search with the search bar (“filter pairs”). Click on “Onsen Farms” and search for “stZEN“.
6. Click on ‘Approve Staking‘ to stake your SLP token. Connect your wallet again and approve the transaction twice. Afterwards, you will be able to view your SUSHI rewards on your portfolio (read Check Positions and Balances below), add and remove liquidity, and more.
(PART II) Staking your SLP on Onsen Farm
1. Head to Onsen Farm on the SushiSwap app.
2. Connect to your wallet if you haven’t already.
3. Under ‘Filter’, search for stZEN pairing. You will see a stZEN-stETH pairing. You can also have an overview of the ROI, liquidity of the pool, amount you have staked, and your total SUSHI earnings. On the right, you can quickly add liquidity or “Approve Staking” (which is staking your SLP). Once you already have your SLP by providing liquidity in part 1, you can proceed to stake your SLP here under ‘Approve Staking’. You will have to approve 2 transactions. From here, you can proceed to check your balances in your portfolio every now and then on SushiSwap (read below sections).
Checking Positions and Balances
To know what your current positions and balances are, head to your SushiSwap portfolio. You have to connect your wallet to see the balances and positions. You can also access this page by heading to app.sushi.com, connect your wallet (just below Sushi’s logo on the left), and click on ‘Portfolio‘. On this page, you are able to look at the transactions you have made through Sushi and the connected wallet. At the same time, view the SUSHI rewards you would have accumulated (via yield farming, not included in this article), your liquidity pool positions, as well as the specific farms you have “staked” your SLP tokens on.
If for some reason you would like to remove liquidity from a pool, you can also do so via app.sushi.com. Connect your MetaMask wallet, go to “Pairs” and search for the pair you provided liquidity to. It will look similar to the screenshot below. Now, instead of “+ Liquidity”, select “– Liquidity” in the box on the right. You can then select the percentage of liquidity you would like to withdraw.
Just an additional note: Every transaction and confirmation will require ETH gas fees. Plan your movements in advance and watch the market to make the best of your stTokens.
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