There is a new way to stake capital in the BEES.Social LP “Hives” and this step-by-step guide aims to tell you how — with a whole lot of help from the BEES.Social development and design staff.
The process — at a high level involves adding liquidity to a Uniswap Liquidity Pool (“LP”) and staking UNI V2 token unique to that LP into a BEES.Social Seedz Pool.
“We had to figure out how to do this for dozens of projects and to do it in a way that made sense and we weren’t convinced that the Uniswap UI was the best candidate if we were pursuing mass adoption.”
— BEES.Social development lead
After concluding that the Uniswap interface and its subjective routing were not the best things for the BEES.Social community, a new UI was written, combining Uniswap’s smart contract code, custom routing logic, and this project's “one-stop shopping” framework.
Prior to rolling out this process, one came to Uniswap with a set amount of capital to place in an LP. Because Uniswap requires a 50%–50% split to enter an LP. “50%–50%” means that if one were to want to trade into a pool made up of the Starwire-wPE pair, the user would first need to conduct swaps to get to 1/2 Starwire and 1/2 wPE.
That meant that if someone wanted to place the equivalent of $10,000 (USD) in Ethereum into a Starwire-wPE LP they would have to
- trade $5,000 in Ethereum into a Starwire token
- trade $5,000 in Ethereum into a wPE token
- Add both tokens into the LP as liquidity, and
- Once they had the UNI V2 “claim check” for that liquidity, that could be staked into the BEES.Social Starwire Seedz Pool
Using the same amount of Ethereum, using the new interface, all one needs to do is to navigate to the Starwire “Hive” by clicking “Stake” on its in BEES.Social tile. From there you just need to tap “add liquidity to pool,” identify your $10,000 in Ethereum and your target (in our case it's the Starwire LP — but it could be any of these LPs). Once you tap “complete transaction,” everything will be done.