Farming $SUSHI with $DUSD & $DFD on SushiSwap
A Step-by-Step Guide on how to provide liquidity into SushiSwap
With Sushi’s Onsen program going live the following pairs have been added to SushiSwap:
- DUSD-ETH Pool
- DFD-ETH Pool
One can now provide liquidity to either pool to farm $SUSHI. This guide aims to provide step by step instructions for one to participate in the Defidollar related pools on Sushiswap.
The Guide is divided into three parts:
- Providing DUSD — ETH liquidity into SushiSwap
- Staking your Sushi SLP
- Checking your position and rewards
We will be illustrating the flow for DUSD-ETH in this article. The same steps can be followed to participate in the DFD-ETH pool as well.
Providing DUSD — ETH liquidity into SushiSwap
Step #1: Obtain DUSD by minting from the app or use a DeX
Minting: If you already hold the following stablecoins : USDT,USDC,DAI or TUSD
- Visit the DefiDollar App
2. Currently you can use either of DAI, USDC, USDT, TUSD or a combination of those to mint DUSD. In case you want to mint using multiple assets click on “Add more tokens”.
You can also use yCRV & yUSD directly to mint DUSD. This operation is also very gas efficient and doesn’t incur a fee.
3. Input the amount of DUSD you want to mint and click Mint.
a) Depending on the number of assets used as input, you have to sign approval requests. i.e if using only USDT — one request to approve USDT.
b) Post granting approvals approve the minting transaction.
Upon the transaction getting mined on-chain the DUSD balance will be reflected in your wallet and on the web-app.
Using a DEX :
You can obtain DUSD from the below mentioned DEX’s/AMM’s/ wallet interfaces:
If need be use the contract address below to search for the DUSD token manually.
DUSD contract address: 0x5bc25f649fc4e26069ddf4cf4010f9f706c23831
DFD can be obtained from all the above with the exception of Curve.
Once you have obtained the requisite token that you wish to farm with, proceed to the next steps.
Step #2: Depositing DUSD-ETH into Sushiswap
1. Visit the Onsen DUSD-ETH deposit page on Sushiswap
2. Enter the amount of DUSD and the corresponding amount of equivalent ETH will automatically get keyed in
3. You will now need to approve DUSD before supplying liquidity to Sushiswap, click on Approve
4. Once approved you will a notification for the successful approval.
Now click on Supply.
A pop up asking to confirm the supply pops up. Click on Confirm Supply
5. Once the transaction is confirmed, your position gets reflected on the bottom right corner of the page
Staking your Sushi LP tokens
1. Click on the Stake tab
2. You will now be able to see your LP tokens. Click on the Approve Staking button
3. Once the transaction gets approved you can now see the option to Stake and Unstake. Click on Stake.
4. You will see a pop-up asking for what amount you want to stake.
Click on Max and then on Confirm
5. Upon confirmation you will see that the amount staked gets reflected in the window
Congratulations you have now staked successfully in the Sushiswap DUSD-ETH pool!
Check your position and claim rewards
- Navigate to the home page by clicking on the Onsen Menu
2. Enter DUSD in the current menu search tab.
3. Click on Click to harvest to claim your earned Sushi. Approve the transaction and upon successful confirmation the Sushi gets credited to your account.
