The Party is Here!
Helio Protocol is hosting the hottest DeFi Summer Party with $20,000 worth of prizes on the table. We recently introduced a new liquid staked BNB pool in together, and it’s joining the campaign to boost its liquidity to new heights.
Campaign Post by Helio on X.com
DeFi Summer Party Galxe Campaign
Campaign period: 7th Sep — 21st Sep
One of the tasks involves the new pool. Let’s dive a bit deeper, shall we?
Guide to Providing Concentrated Liquidity on THENA
The SnBNB/BNB pool on THENA is a FUSION liquidity pool. FUSION pools are concentrated liquidity pools that come with automated management and specialized strategies to minimize impermanent loss. These pools are designed to provide the most efficient use of your assets.
What Makes FUSION Pools Special?
- Concentrated Liquidity: Your assets are used in specific price ranges where they are most effective.
- Automated Management: No need to constantly monitor and adjust; the system does it for you.
- Correlated Strategy: Tailored for Liquid Staking Tokens (LST), these strategies minimize impermanent loss and consider the yield-bearing features of the asset(s).
For a deeper understanding of FUSION pools, read Demystifying FUSION.
Step-by-Step Instructions
- Visit thena.fi and connect your wallet on BNB Chain.
- Access the liquidity section by clicking on “Liquidity”.
3. Search for “SnBNB” in the search box.
4. Click on “Manage” on SnBNB/BNB pair.
5. To obtain LP tokens, click on “Get SnBNB/WBNB (Correlated) LP”.
6. Input the amount of SnBNB & BNB you’d like to provide liquidity for and choose between automatic & manual rebalancing.
- Automatic rebalancing allows the protocol to rebalance the SnBNB/BNB weightage of your LP automatically for optimized revenue generation
- Manual mode on the other hand, disables this function and users will have to adjust for rebalancing manually. Manual function is recommended only for sophisticated DeFi users.
- If you don’t have SnBNB, you may mint it or swap on THENA.
7. Click on “Add liquidity and stake” and confirm the series of transactions.
- Total transaction fees were $0.71 at the time of writing this guide
8. Once confirmed, you’ll receive a transaction receipt.
9. Regularly monitor and manage your liquidity position on thena.fi. You can monitor and manage your automatic LP position on the same page, where you obtained your LP.
10. Beware the APRs can change, so stay updated on the latest rates.
That’s it, you’ve now created a new passive income stream for yourself. You may claim your rewards at any time.
THENA is building the bedrock for future DeFi innovations on BNB Chain. Let’s shape the future of finance together.
