ConvPool Mainnet Staking Guide

Welcome to ConvPool Mainnet Staking! This guide is to help you stake your CONV and your CONV LP tokens on ConvPool to earn rewards.

ConvPool is a part of the Convergence dApps suite. It is the liquidity pool behind ConvX, our AMM trading platform for Wrapped Tokens and Assets. To incentivize users adding liquidity to ConvPool, CONV-LP token holders may also stake their CONV-LP tokens obtained from liquidity provisioning to earn extra rewards in CONV, in addition to earning 0.25% of fees from trading activities at the ConvX AMM. Besides LP staking, CONV token holders are also eligible to stake their tokens in ConvPool and earn more CONV, however with a lower APY.

To become eligible for LP staking, you must obtain some Convergence LP tokens by providing liquidity to the ConvX AMM, which is available here.

High-level overview of the Convergence Ecosystem

Link to ConvPool Staking: https://convx.conv.finance/staking

Preparations

  • You must have a MetaMask wallet (https://metamask.io/) installed to your browser.
  • Chrome/Brave browsers are recommended, Firefox could be buggy.
  • Please use a Desktop/Laptop for now while we are still working on full mobile support.

Walkthrough

Part A: Simple Staking

You can stake your CONV tokens on ConvPool to earn CONV, it’s that simple.

  • Hover on the Pools on the left navigation bar and select Staking Pools.
  • After connecting your wallet, click Stake CONV under the respective pool.
  • Input the amount of CONV token you want to stake. If you want to stake all, simply click Max. Then click Stake and confirm the transaction on your MetaMask wallet.
  • And voila! As the transaction confirms, your CONV will be staked successfully into the smart contract and rewards will start accumulating. Easy!
  • Please note: If you are staking your CONV tokens for the first time, you will need to perform two transactions, which ConvPool will prompt the transactions for your confirmation on MetaMask accordingly. The first one is an “approval” transaction, that means you are approving ConvPool Smart Contracts to use your CONV tokens. The second one is the actual staking transaction, that means ConvPool Smart Contracts will use your CONV tokens to stake into the contract and start earning rewards for you.

Part B: LP Staking

If you are a liquidity provider on ConvPool, in addition to the trading fees from ConvX that you are already earning, you can also stake your CONV-LP tokens on our staking pools to earn more in CONV.

Pro Tip: LP staking provides higher APY than simple staking! To provide liquidity to the ConvX AMM, visit here.

  • Hover on the Pool on the left navigation bar and select Staking Pools.
  • This time, select the Pools that ends with “LP”, it means that the Pools are for staking your LP tokens obtained from liquidity provisioning. If you cannot find the Pool for your LP token, you may click the right arrows as circled to view more available Pools.
  • Input the amount of CONV token you want to stake. If you want to stake all, simply click Max. Then click Stake and confirm the transaction on your MetaMask wallet.
  • And voila! As the transaction confirms, your CONV will be staked successfully into the smart contract and rewards will start accumulating. Easy!
  • Please note: If you are staking your CONV tokens for the first time, you will need to perform two transactions, which ConvPool will prompt the transactions for your confirmation on MetaMask accordingly. The first one is an “approval” transaction, that means you are approving ConvPool Smart Contracts to use your CONV LP tokens. The second one is the actual staking transaction, that means ConvPool Smart Contracts will use your CONV LP tokens to stake into the contract and start earning rewards for you.

Part C: Claiming Rewards

Claim staking rewards from ConvPool is simple: just one click.

  • Click the Claim button at the bottom and confirm the transaction via MetaMask.
  • Once the transaction is approved, you will receive CONV as your staking rewards.
  • Please note: You can claim 4% of all your accrued CONV reward immediately. The remaining 96% of CONV will undergo vesting, which will be released each week over the next 6 months. The amount released each week will be determined according to your historical staking rewards. You need not to claim each week as unclaimed tokens from each week will continue to accrue onto the next.

If you have further questions on the staking system, please feel free to ask in our official Telegram or Discord support channel.

About Convergence Finance

Convergence is the first AMM to make private token interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols. Convergence enables originators to take advantage of DeFi’s liquidity, while DeFi users can access exotic private exposure unavailable to them before. Convergence Finance combines the edge of a lowered investment entry barrier with the liquidity, automation, and transparency features of DeFi to bring exclusive investment exposure to all DeFi users.

Official Links

Website / Discord / Telegram / Twitter / Litepaper

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Convergence will be the first AMM to make private assets interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols.

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