A Step-by-Step Guide on how to stake Sushi LP tokens in the DefiDollar App
Includes how to add liquidity to Sushiswap pools via Zapper
We introduced the incentivised Sushiswap Liqudity pools for the month of February: https://forum.dusd.finance/t/liquidity-mining-pools-february/33
Two liquidity pools have been incentivized on Sushiswap:
1) DFD/ETH pair
2) DUSD/ETH pair
This guide aims to to provide step by step instructions to add liquidity to the incentivised Sushiswap pools via Zapper, stake the SLP tokens in the DefiDollar app to earn rewards and is divided into two parts:
- Providing liquidity into the DFD/ETH Sushiswap Pool
- Staking your SLP token in the DefiDollar app
This guide illustrates the steps using the DFD/ETH pair. Similarly these steps can be followed to add liquidity to the DUSD/ETH pair as well.
Step 1: Providing liquidity into the DFD/ETH Sushiswap Pool
Depositing assets into the Sushiswap Pools
1. Connect your wallet on Zapper.fi. Visit the Pool tab and enter DFD to search for DFD pools, you will locate the DFD/ETH pool son Sushiswap. Click on Add
2. Select the token you want to use to and enter the amount you wish to add to the liquidity pool. We are using ETH to enter into the pool.
This essentially allows you to enter the pool with a single asset and Zapper handles the conversion in the backend. This is a much easier approach for users new to the DeFi Ecosystem.
Please note that if you are entering the pool with any other asset you will have to trigger an approve transaction before going on to the Confirm button.
3. Coming back to our illustration using ETH. Click on Confirm
4. Once the transaction gets minted go to the dashboard to check your position. Click on the Sushiswap Tab
You will now be able to see your LP position in Sushi
Congratulations you have now successfully become an LP to the DFD/ETH Sushiswap Pool 🎉🎉
Step 2: Staking your SLP token in the DefiDollar app
1: Go to the DefiDollar LP Rewards page , Click on the SushiSwap DFD/ETH button
2: You can now see your DFD/ETH SLP balance, Click on Max and then Stake
3: Approve transferring the SLP tokens in your wallet by clicking confirm on the wallet interface
4. Once approved, confirm the staking transaction
NOTE: As a team we are not staking, so as to ensure the community gets 100% of the rewards.
Once the stake transaction goes through you will be able to check your staked amount and rewards earned by clicking on the SushiSwap DFD/ETH tab found in the LP rewards
Congratulations you have now successfully staked SLP to earn SUSHI and DFD rewards 🎉🎉
If you had previously staked in Sushiswap, following this guide https://medium.com/defidollar/farming-sushi-with-dusd-dfd-on-sushiswap-4c675b47b993
Please Unstake and Restake in the DefiDollar app to earn both DFD and SUSHI rewards.
