Using Stake LP feature¶

Provide Liquidity on Sushiswap¶

Users who have staked their ATOM and minted stkATOM can provide liquidity on Sushiswap and start earning trading fees
pSTAKE will whitelist stkATOM-ETH Pool on Sushiswap to enable users to earn both staking rewards and trading fees from the pool
pSTAKE will whitelist more pools in near future
Go to Sushi dApp, and under the Pool section, select ‘Add’
Under the liquidity tab select ETH and stkATOM
If stkATOM is not available in the list, under the manage token section add the stkATOM contract address (0x44017598f2AF1bD733F9D87b5017b4E7c1B28DDE)
After selecting the token pair, input the desired amount of liquidity you wish to add
Click ‘Confirm Adding Liquidity’
You will be shown the estimated number of SLP tokens you’ll receive against your deposit
After the transaction is processed, you’ll receive the SLP tokens in your Ethereum wallet
To view your SLP token balance in Metamask, you can manually add the token
Click Add Token in Assets tab
Under Custom Token tab, paste SLP token address
You can now stake the SLP tokens on pSTAKE to retain the staking rewards for the stkATOM deposited in Sushiswap

Now that you have added liquidity in the stkATOM/ETH pool on Sushiswap, you will have to stake these SLP tokens on pSTAKE to retain the staking rewards for the stkATOM deposited in Sushiswap
On pSTAKE app, connect your Metamask wallet where you have the SLP tokens
In the left pane, click on Liquidity Pools
On the Liquidity Pools landing page, in the stkATOM/ETH Sushiswap tile, click on ‘Stake Now’
Under the Stake LP tab, you will see the following information:
Your LP Balance (balance available for staking in Stake LP)
Your LP Staked (amount of LP tokens already staked in Stake LP)
Your Pool Share (% share of staked LP compared to the total LP staked)
Before being able to stake the LP tokens, you need to Approve SLP spend limit by clicking on ‘Approve LP’
By default, you will be asked to confirm an unlimited spend limit in the Metamask transaction confirmation pop-up
If you wish to set a custom spend limit, you can do so by clicking on ‘Edit Permission’ and entering a custom amount of your choice

After you’ve approved the SLP token spending limit, enter the number of LP tokens you would like to stake in the input box
Note that this amount should be lesser than or equal to the approved spending limit (if you had approved a custom spending limit)
You can also click on the LP balance to directly fetch the amount available to be staked
Once the amount is fetched, you can optionally choose the percentage of the amount you wish to stake using percentage the buttons

Screenshot 2021-09-20 at 5 35 35 PM

After you’ve staked your LP tokens, you will start accruing pATOM rewards on the stkATOM corresponding to the amount of LP tokens you have staked
You can view your accrued rewards in the ‘Rewards’ tab
You can claim the accrued rewards at any point in time by clicking on ‘Claim Rewards’
Your rewards are automatically

If you wish to remove liquidity from the Sushiswap pool, you will first have to unstake your LP tokens from the pSTAKE app
To do so, Go to the Liquidity Pools tab on the app and select stkATOM/ETH Sushiswap tile
Here, you will see your staked LP balance, if any
You can click on Your LP staked amount to fetch the same into the input box
Click ‘Unstake LP’ and confirm the transaction
When you perform Stake LP/Unstake LP transactions, your pending rewards on existing staked position are automatically claimed

After unstaking the LP tokens you will receive the unstaked balance in your Ethereum wallet and ‘Your LP staked’ will be updated
To withdraw liquidity, go to Sushi dApp and under the Pool section, you can view your open liquidity positions
Click on ‘Remove’ and add the percentage of liquidity that you wish to withdraw
You will see the stkATOM and ETH you will receive after withdrawing the liquidity
First ‘Approve’ and then ‘Confirm Withdrawal’ to receive stkATOM and ETH into your Ethereum wallet