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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

Approve LP (partial/unlimited)

  • 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)

    Screenshot 2021-09-20 at 5 35 24 PM

  • 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

Stake LP

  • 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

  • Click on ‘Stake LP’ and confirm the transaction to stake your LP tokens

Claim rewards (recurring)

  • 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

Unstake LP

  • 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

Withdraw liquidity

  • 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