ElasticDAO is added to the Onsen SushiSwap Program: Stake your EGT by providing liquidity on SushiSwap
A fair governance protocol. ElasticDAO balances different participants’ competing interests by reducing the overall influence of money and early adopters.
We are thrilled to announce that ElasticDAO has been added to the Onsen SushiSwap Program. You can now provide liquidity to a new EGT-WETH pool to receive liquidity mining rewards.
What is The Onsen SushiSwap Program?
The Onsen program is a liquidity mining incentivization program to replace the Menu of the Week. Participants can stake their SLP tokens to get the advantage of farming opportunities.
The program aims to decrease slippage and foster exciting synergistic partnerships with other DeFi projects. The ability of the token to be listed on the Onsen program depends on its progress and is reviewed every 60 days.
We created a step by step article on how to:
1. Add liquidity to the EGT-WETH pool and start earning SLP rewards.
2. Stake your SLP rewards on the Onsen program to farm your SUSHI rewards.
How can I provide liquidity with SushiSwap Onsen?
- Firstly, you go to https://app.sushi.com/farms/special, connect your wallet, and make sure you have enough EGT and ETH on your wallet.
- Find the EGT-WETH pool from the Onsen pair list and click the “Add liquidity” button.
3. Select the EGT and WETH token amount you would like to add to the liquidity pool.
Keep in mind that you must provide equal amount of ETH/EGT. The equal value will appear automatically on your screen.
3. Complete your transaction by clicking “Supply.” Confirm your transaction through your Ethereum wallet to complete the transaction.
How Can I stake my SLP Tokens, Ser?
- Go to the Onsen Pair list, find the EGT-WETH pool, and press the “Approve Staking” button.
2. By approving the above mentioned transaction, you allow SushiSwap to move your SLP tokens. Now, press the “Stake” button to stake your EGT-WETH tokens.
3. Confirm the transaction in your wallet.
You now staked your SLP tokens successfully and started earning rewards. You can track your rewards and growth on the SushiSwap Portfolio.
Can I participate in governance with my SLP tokens?
Currently, you don’t have that option. You are also not rewarded or penalized. Only participants who hold EGT on their wallet are capable of voting.
Having said that, the development team is working on finding ways to participate in governance when holding SLP tokens.
