How to Supply Liquidity in Mimo’s PAR-MIMO Pool on Beets.fi for Maximum Rewards
With the PAR-MIMO Pool going live on Fantom Network, $MIMO is proving the demand for multi-chain, sound, stablecoins. This tutorial goes over how to supply liquidity and participate in the latest Beethoven-X Pool weighted pool comprised of $PAR & $MIMO.
If you’ve used Mimo on other chains or have participated in other pools, you’ll find many of the following steps familiar. If not — not to worry — the process is just a few simple steps that we’ll go over here.
Step 1: Secure the Necessary Coins
Since our Beethoven-X Pool comprises of $PAR and $MIMO, holding either is a requirement.
Step 2: Enter the Beethoven-X Pool and Receive BPT
Now that we have some $PAR and/or $MIMO to supply, head to Beethoven-X’s pool here and click ‘invest’.
If it’s your first time, there will be a permission confirmation to allow the Beets protocol to interact with your coin. After this is confirmed, the function to supply will unlock.
Similarly to Balancer and other Mimo pools, Beethoven-X pools are weighted in a way that do not require 50/50 equal parts of supply. This means you can supply whatever you’d like and the pool will balance automatically.
The official and suggested weight for the PAR-MIMO Pool:
PAR 25% | MIMO 75%
Step 3: Receive & Stake BPT
After successfully supplying liquidity to the pool, you’ll receive a Beethoven Pool Token in return: $BPT-PARMIMO.
With this, we can navigate to Mimo’s Mining tab on the web app.
Toward the bottom row, we’ll find the box containing details regarding this particular pool. Until we have BPT in our wallet, the only option will be to click into the Beets Pool.
Then, we’re ready to stake our BPT & begin earning $MIMO rewards.
Step 4: Claim & Stake $MIMO (coming soon..)
To capture even more rewards out of your supply, be sure to claim and lock your $MIMO rewards for an additional APY percentage and greater voting power to guide the protocol’s future.
We’re also holding more technical discussions and having conversations about the protocol, smart contracts, and more on our Discord — join here.