Liquid Staking and Providing Liquidity on Astroport: stINJ / INJ
For the first time on Injective, liquid staking is being introduced thanks to Stride. This groundbreaking integration allows Injective users to liquid stake their INJ tokens, while simultaneously unlocking the ability to utilize their staked tokens in various DeFi use-cases.
This tutorial will show you how to liquid stake stINJ and provide liquidity to the stINJ/INJ pool on Astroport, a powerful automated marker maker (AMM) protocol that recently launched on the Injective ecosystem. As a prerequisite, we will need INJ in Keplr wallet.
How to Liquid Stake INJ
- Go to the Stride app → http://app.stride.zone/ and click the Connect Wallet button and then choose Keplr.
2. Click the token drop-down menu and change the token to INJ.
3. Enter the desired amount and press the Liquid Stake button.
Note: When you intend to LP and are staking your tokens, we recommend ensuring you have a fair amount of the original token left in your wallet since you will need both tokens in order to add liquidity to the pool.
4. Select the Start Staking button and approve the transaction.
5. After liquid staking, you will need to send your stINJ tokens back to the Injective Hub the Send to Injective link.
How to Provide stINJ/INJ Liquidity on Astroport
1. Go to the Astroport app → https://app.astroport.fi/ and click Connect Wallet button, then choose Keplr, and then make sure that Injective is currently selected as the network.
2. Click the Pools tab on the left-hand side, search for stINJ and click the Add Liquidity button.
3. Enter in the desired quantity of stINJ and INJ and then click Add Liquidity button.
4. Review how much liquidity you will be adding and click Confirm Providing Liquidity button.
Upon successfully following the instructions in this tutorial, users will have successfully liquid staked and provided liquidity to the stINJ/INJ pool on Astroport. To monitor the status of their liquidity pool, users can navigate to the Pools tab on Astroport here.
Link to this publication on our Community Updates Medium blog can be found here.
Join 50K+ Cosmonauts who use Stride. Secure the Cosmos. Unlock liquidity and earn more yield at stride.zone, the first decentralized liquid staking protocol powered by the Cosmos SDK and IBC. Connect with Stride on on Discord, Reddit, Telegram, and Twitter. Connect with the Stride Support Lab at our Link Tree.
