How to join our Liquidity Pool Program
What is the JustBet Liquidity Pool Program?
We have launched the V1 LP program so that anyone who has staked WINR tokens on Uniswap can then stake their Uniswap WINR LP tokens on the JustBet Liquidity pool program. This is our first program with other pools planned to follow.
We have laid out all the instructions below so that you will know exactly what to do.
Here’s how the LP program works
We have 20M WINR tokens in the pool which will yield over 100,000 blocks (about a 2 week period). Each block will yield 200 WINR/block which will be shared proportionally by how many UNI WINR LP tokens you stake. The more you stake, the more you will make!
What does that mean and how does it work?
If you already own WINR tokens and are holding them in a MetaMask wallet, then you are already part way there.
[Note: If you already hold Uniswap WINR LP tokens, just skip down to Step 2:
How do I stake my Uniswap WINR LP tokens on JustBet?]
When you hold tokens on Uniswap, you can also stake the tokens into liquidity pools. When you do this, you earn fees when people buy and sell tokens, so this is a nice way to increase the value of your holdings. In this case, you can go to Uniswap and “add liquidity.”
You do this by staking your WINR tokens with an equivalent amount of ETH. When you stake the WINR and ETH, you will then be given Uniswap_v2 LP (collateral) tokens in exchange. Normally these tokens just sit in your MetaMask wallet.
Staking in Uniswap means you are given collateral tokens in exchange. These tokens are what we refer to as LP tokens (Uniswap_v2 in MetaMask).
Be aware of impermanent loss, another aspect of Staking on Uniswap
One other thing we want to highlight are the potential risks that take place with any form of trading and staking. When you stake tokens in Uniswap or other decentralized exchanges, there is the potential to incur some forms of losses in the value of your coins be staked.
This article on Binance is a great place to learn and understand this in more detail.
Impermanent Loss Explained | Binance Academy
https://academy.binance.com/en/articles/impermanent-loss-explained
We are excited to be offering the program and also want to highlight that with the high yield that we are running on our LP program on the JustBet website, our aim is also to mitigate any of the potential risks that occur when you are staking.
Earning from the Uniswap LP and then stake your LP Tokens on Just Bet
Instead of leaving the LP collateral tokens in your MetaMask, we are offering the JustBet LP program where you can stake your LP tokens on our platform, so that you can earn additional WINR tokens. In other words, you will earn WINR tokens by staking your Uniswap_v2 collateral tokens on our platform so that you earn fees on Uniswap for staking and earn additional WINR tokens on our platform at the same time!
Step 1: How do I stake on Uniswap
Once you have WINR tokens, the first thing you need to do is to stake them on Uniswap. First off, make sure you are on the trade pair screen on uniswap for WINR tokens.
From here, just click on Add Liquidity (top right of the image above), and it will show you a screen that looks like this:
If you follow the above, you will need to make sure you have enough ETH in your wallet to stake.
Staking requires 2 steps: You must approve and stake to the LP on Uniswap
You will need to make several steps to first Approve the WINR and then to Stake both WINR and ETH into the pool. So make sure you follow the steps to do that. Its not a single click.
Make sure you have ETH in your MetaMask wallet
And make sure you have around 0.1 ETH in your wallet to have for transactions. Thats just a recommended amount to cover for future transactions fees for staking now, and unstaking and other transactions later.
What happens after you confirm to stake on Uniswap?
Once you have staked your tokens and the Ethereum confirmations complete, you will receive Uniswap tokens in your wallet. If for any reason you do not see them in your MetaMask wallet, you can also add them in manually.
Manually adding Uniswap V2 tokens in MetaMask
To add Uniswap LP tokens to appear on MetaMask, just follow these steps.
Step 1: Scroll to the bottom of the Assets sections in MetaMask for your wallet and click Add Token:
Step 2: Click on Custom Tab and just copy the following Uniswap WINR LP contract address into the Address field.
THIS IS THE UNISWAP WINR LP CONTRACT ADDRESS:
0x96192cbb073c1656dcbb2bcec083b0baf36271d1
Copy and paste this 👆🏼 to add into your MetaMask wallet.
The screen will look like this.
To finalise, Click Next and then Add Tokens and your LP tokens will appear in your assets on MetaMask.
Step 1 Complete! Congrats.
Step 2: How do I stake my Uniswap WINR LP tokens on JustBet?
Now that you have your Uniswap WINR LP tokens, you are nearly there.
Final steps are to now stake your LP tokens on the JustBet website. So here is what you need to do.
Go to the JustBet LP program
Go to https://staking.just.bet/
(1) Connect your Wallet
Make sure you are connecting to the same MetaMask wallet where your Uniswap V2 WINR LP tokens are held. Step (1) is highlighted in the image below.
(2) You will now see your total LP tokens where (2) on the image above. If for any reason the balance does not appear, just refresh the page and you will see your Uniswap WINR LP token balance.
- CLICK Approve
- This will bring up MetaMask to approve the first of two transaction. You will need to sign this transaction to approve the staking.
- Wait for Ethereum to confirm the transaction
You are almost there. Now just one final step, as seen in the image above.
(3) The Approve button will now change to Stake LP Tokens.
- Click Stake
- Sign the 2nd MetaMask transaction
- Wait for Etherum to confirm the transaction
(4) And voilá your transaction has been confirmed. You will now see that your LP tokens will be listed under “Your Locked LP Tokens”
About JustBet
JustBet is the first-ever fully decentralized gaming platform built and fully running on smart contracts. It is a fully autonomous platform that operates a self-running house to cover gaming wins/losses and pays out 80% of all profits to users who stake the JustBet native WINR tokens. JustBet is expanding its development efforts by running on the Polygon Network to increase the efficiency, speed, and gaming experience for its users. Our partners include Bitmart, Polygon, BXTB (investors), and TokenSuite (marketing). More partner announcements will be coming soon!
