How to Stake SRK-ETH Pool Tokens in SparkDeFi

A simple guide on how to stake in the SRK-ETH pool

Published in

theEcosystem

6 min readDec 4, 2020

The SparkDeFi SRK-ETH Liquidity Staking is now available on Mainnet. This tutorial will show you how to stake your SRK-ETH Pool Tokens in SparkDeFi. I hope this tutorial attracts more stakeholders to participate in providing liquidity in the said pool.

Step 1: Launch the staking app

Go to https://srk.finance/ and in the upper right-hand corner of the website you will see the LAUNCH STAKING APP, click it.

The web app https://app.srk.finance will open in another browser tab.

Reminder: Always check your browser for the address https://app.srk.finance to avoid fake or phishing websites.

Step 2: Connect your wallet

On the upper right-hand corner of the web app, you will see the Connect Wallet. You must connect your MetaMask Wallet to start staking in the SRK-ETH pool.

You have successfully connected your MetaMask Wallet when your wallet address appears in the upper right-hand corner of the web app.

Step 3: Choose the SRK-ETH Pool

After connecting your MetaMask Wallet, choose the SRK-ETH pool by clicking Deposit.

Since I have connected my MetaMask Wallet successfully, the SparkDeFi Web App interface will reflect the number of SRK tokens I have. In this case, I have 20,000 SRK tokens stored in my wallet.

Step 4: Add liquidity in the SRK-ETH Pool

For you to stake in the SRK-ETH pool, you must add liquidity first in the said pool. This will allow you to have SRK-ETH Pool Tokens needed for the staking.

When you click ADD LIQUIDITY, the Uniswap interface will open in another browser tab.

In this step, you have to input the amount of SRK you want to add to the liquidity pool. I will be adding 10,000 SRK to the liquidity pool. We need an equivalent of 0.0127448 ETH in this process. Double-check the values then click Approve SRK.

Reminder: Uniswap requires equivalent amounts of ETH and SRK to add to the liquidity pool but make sure you have more ETH to pay for transaction fees (gas).

MetaMask Wallet will appear to confirm your transaction. In this part, you can edit the Transaction Fee based on the transaction speed you desire. Click Confirm.

Wait for the transaction to be approved. You can also check it out on Etherscan to see the progress.

After the transaction is approved, the Supply button will be enabled, click it now.

Uniswap will inform you how many SRK-ETH Pools Tokens you will receive. In my case, I’ll be receiving 8.6906 SRK-ETH Pool Tokens. Check the values once again then click Confirm Supply.

Your MetaMask Wallet will open again. Edit the Transaction Fee and set it to your desired transaction speed. Click Confirm.

Upon submission, you can check the transaction progress in Etherscan. It should take a few seconds or minutes depending on your chosen transaction speed.

Upon confirmation, you will see Your position update. It will show you the number of tokens you added to the liquidity pool and the SRK-ETH Pool Tokens you received.

(For more details about SRK-ETH Pair Liquidity, read this How to Add Liquidity to SRK-ETH Pair in Uniswap.)

The amount of SRK-ETH Pool Tokens will appear on the SparkDeFi Web App interface. If it does not, hit refresh on your browser. I now have 8.690609410227 SRK-ETH Pool Tokens to stake.

Step 5: Stake your SRK-ETH Pool Tokens

Now that you have SRK-ETH Pool Tokens you can start staking it. You have to click STAKE TOKENS.

After clicking STAKE TOKENS, another box will appear where you can input the number of SRK-ETH Pool Tokens you want to stake. Since I have 8.690609410227 SRK-ETH Pool Tokens, I’ll be staking all of it.

Next, you will click Approve.

MetaMask Wallet will open to ask for the signature request. Click Sign.

Once the transaction is approved, the Deposit button will be enabled. Click Deposit.

A prompt will appear that you will be depositing your SRK-ETH Pool Tokens, click Deposit.

MetaMask Wallet will open again to confirm the transaction. Edit the Transaction Fee and set it to your desired transaction speed. Click Confirm.

Reminder: Make sure you have more ETH to pay for transaction fees (gas).

After the transaction is completed, you will see that your SRK-ETH Pool Tokens will be reflected under the YOUR SRK-ETH UNI-V2 DEPOSITS. This means that you have successfully staked your SRK-ETH Pool Tokens!