sTHO explained — Learn how it works to earn even more APRs!
What is sTHO token?
sTHO is a “receipt” token symbolizing the staked THO value –not THO quantity– that you are currently staking in the STAKE section of Thorus App. It can even be bought or sold on Thorus through Avalanche or Moonbeam networks.
For instance, if you buy some sTHO, the corresponding USD value in THO tokens will be automatically added to your staked amount of THO.
Most importantly, sTHO can be used on the FARM section of Thorus to earn more APRs and thus to increase your profits while you keep staking THO! 😍
Thanks to THO and sTHO tokens, you can create an endless loop of rewards! See further for more detail.
You can track sTHO market price (1) on the DASHBOARD section of Thorus App, and see its ratio compared to THO (2):
How does it work?
When you stake THO in the STAKE section, you automatically receive equal value in sTHO tokens in your wallet. THO and sTHO token’s values are connected.
As such, if you decide to swap your sTHO for another token in the SWAP section of Thorus App, the amount of THO you’re currently staking will automatically decrease based on the sTHO value you have just swapped.
If you decide to farm your sTHO tokens in the FARM section (ie: in the sTHO-STATIK pool, see the chapters below) or on Impermax, the amount of your THO tokens you can see in the STAKE section will also decrease (as your sTHO tokens will be used elsewhere and temporarily held by the platform).
⚠️ However, as you still own these sTHO tokens, you will keep earning the staking rewards while you’re doing something else with them!
How can I farm sTHO?
The most optimal farming strategy is therefore to use your sTHO tokens to farm them in the sTHO-STATIK LP pool or even better, to leveraged-yield farm them on the Impermax platform once you have created your LP position on Thorus (a tutorial about LYF will be available shortly).
As such, you will earn from the APY of the THO Staking pool AND from the APR of the sTHO-STATIK Farming pool. AT THE SAME TIME!
Tutorial: How to stake THO and farm sTHO-STATIK
Let’s say you own $1,000 worth of tokens in your wallet.
You want to stake $500 worth of THO token (note: it can be any other amount of course) in the STAKE section to earn high APYs, and then, as staking THO gives you the same USD value of sTHO tokens, you want to use these tokens to farm a sTHO-STATIK LP token in the FARM section, in order to maximize your profits.
What you’ll need to start:
- Metamask or TrustWallet connected to Avalanche Network (tutorial here) or Moonbeam Network (tutorial here)
- Some dust of AVAX token to pay the first transaction fees IF you want to stake and farm on Avalanche Network (if you don’t have any AVAX token, you can use the Thorus AVAX Faucet on our Discord server!), OR:
- Some dust of GLMR token to pay the first transaction fees IF you want to stake and farm on Moonbeam Network (if you don’t have any GLMR token, you can use the Thorus GLMR Faucet on our Discord server!)
- Some THO tokens (purchaseable on the Thorus Swap section)
- Some USDC.e tokens to mint STATIK (purchaseable on the Thorus Swap section). Their value needs to be worth approximately 1% more than the USD total value of your THO tokens, to include the STATIK minting fee.
Step 1: Stake your THO tokens
1- Go to the STAKE section of the Thorus App.
2- On your left, first click “APPROVE” (you will only have to do this once), confirm the transaction via your wallet, then type the amount of THO you want to stake, in this example 355 THO (1).
3- Click “STAKE” (2).
4- Once your transaction is confirmed, your THO tokens are now correctly staked (3), and a receipt of 355 sTHO is generated.
Step 2: Mint some STATIK stable tokens
At the time of writing, 355 THO token value is worth approximately $500. Therefore, to build your sTHO-STATIK LP, you’ll need to mint 500 STATIK with USDC.e tokens in order to get a dollar value evenly distributed across the sTHO-STATIK LP pair ($1,000/2).
1- Go to the STABLECOIN section of the Thorus App (note: this section is only available through the Avalanche network at the moment).
2- On the “MINT” tab, type the amount of USDC.e you will use to mint your STATIK tokens (1).
3- Check if the final amount of STATIK tokens you will receive matches with the amount you need to create a pair with sTHO. In our example, we need approximately 500 STATIK (2).
4- If you’re satisfied with the amount you will receive, click “APPROVE” (you will only have to do this once), confirm the transaction via your wallet, and then click “MINT” (3).
5- Once the transaction is confirmed, click “CLAIM” to get your freshly minted STATIK tokens (4), and confirm the transaction.
Step 3: Build your sTHO-STATIK LP pair
Now that you have a similar USD value of sTHO and STATIK tokens, you are ready to build your LP pair.
2- Find the sTHO-STATIK pool.
3- Click on the “LIQUIDITY” tab (1).
4- Click “MAX” where you have the fewest tokens to use your entire balance of tokens. It could be sTHO (2) or STATIK (2) depending on your balances.
5- Approve both sTHO (3) and STATIK (4), and confirm the 2 transactions with your wallet.
6- Click “CONFIRM ADDING LIQUIDITY” (5) and confirm the transaction. Your LP position is now built!
Step 4: Start farming your sTHO-STATIK LP tokens!
Once you have built your LP pair and got sTHO-STATIK LP tokens, the last step is to stake them in the corresponding pool to start earning rewards! 😊
1- Stay in the FARM section, and click on the STAKING tab (1).
2- Click “MAX” to stake your entire balance of LP tokens (2).
3- Click “APPROVE” (you will only have to do this once) and confirm the transaction, then click “STAKE” (3).
4- Congratulation! Your LP tokens are now staked (4) and start earning THO rewards (5)! You can claim these rewards whenever you want by clicking on the “CLAIM” button (6).
Thanks to your sTHO-STATIK LP position and your staked THO, you’re now earning twice THO rewards: the rewards that you will manually claim in the sTHO-STATIK pool and the rewards automatically compounded in the THO Staking pool!
What’s next? Can I earn even more yields??? 👀
We knew you would start being even more greedy! To take your farming strategy even further and optimize your yields, here is what you can (should!) do:
Regularly claim the THO tokens you get as a reward for your sTHO-STATIK position, and add them back to your THO single staking pool!
This will generate new sTHO tokens that you can use to create and stake more new sTHO-STATIK LP tokens, producing even more THO rewards that you will add again to your simple staking, an so on...!
You will then have created an endless loop of rewards!
Thorus is an all in one cross-chain DeFi Platform with an adaptable treasury system, and a token holder first approach. All protocol functions are designed to reinforce this mentality. Each feature is part of an ecosystem that continually drives value back to the THO token, benefiting holders and stakers above all.
The project also aims to be amongst the first AMM’s with Protocol Owned Liquidity (POL).
If you have any questions or thoughts, please join us on our social networks!