How to earn additional $CFT by staking your Balanced CFT/sICX LP tokens?
Explanation of the CFT/sICX LP tokens
(A tutorial is present at the end of this article to explain to you the different actions to get LP token on Craft.)
The CFT/sICX LP tokens represent the share of the Balanced liquidity pool that is used to allow trading of CFT tokens on the ICON Blockchain.
You can supply liquidity to the Balanced CFT/sICX pair on Balanced to get LP tokens and stake it. The rewards will be distributed weekly and will be calculated based on daily snapshots.
10% of the $CFT supply (21M CFT) is dedicated to rewarding the LP tokens staked on Craft. It means that you earn rewards from both this staking pool and the fees earned by the CFT/sICX pool.
The LP Tokens have a lock-up period of 1 day upon deposit, once this period is over, you’ll be able to instantly unlock your LP tokens.
How to get CFT/sICX tokens?
Here is our tutorial which will allow you to buy CFT and sICX to get LP Token:
Step 1: Buy sICX & CFT on Balanced
Step 2: Convert sICX & CFT to LP token
Step 3: Deposit LP token on the network
Step 4: Stake your LP token on https://craft.network/cft
That’s it! Your LP are staked and you’ll be able to claim weekly rewards on the $CFT page 🎉
