How to join the xcSDN Liquidity Incentive Program on Zenlink?
Shiden and its Polkadot sister parachain Astar are developer-focused chains with programs aimed at accelerating growth on Polkadot and Kusama networks through the offerings of Astar SpaceLabs, a program to scale dApp through marketing, technical support, and Astar’s innovative #Build2Earn initiative.
In August, Moonriver integrated with Shiden via Polkadot’s native cross-chain messaging technology, XCM, which means that Shiden’s token SDN can be deposited into Moonriver and accessed and used as xcSDN, for example, to perform DeFi activities.
We’ve worked with the Shiden team to integrate SDN’s Shiden<>Moonriver cross-chain transfer into X-Transfer and launched a liquidity incentive program to provide DeFi gains to the Shiden community. Read on for more details on xcSDN farming and how to transfer SDN from Shiden to Moonriver via X-Transfer.
How to Transfer Shiden Tokens to Moonriver via X-Transfer？
X-Transfer is a unique feature of Zenlink that integrates cross-chain and token transfer functionality that will be an excellent convenience for the community. It now supports SDN or xcSDN for fast, low-cost transfers between Shiden and Moonriver. As the first step, we will show you how to use it.
Note: Before you start, please ensure you have enough SDN balance on Shiden for cross-chain transfer and set aside a small amount of SDN for cross-chain network fees when transferring.
Step 1: Visit https://dex.zenlink.pro/, find X-Transfer on the Swap page and keep the default cross-chain option.
Step 2: Select the SDN token and select “Shiden” and “Moonriver” in the “Source chain” and “Destination chain” respectively.
Step 3: Click the “Connect Wallet” button below to connect your Polkadot wallet (if you are already connected to the Bifrost network, there will be no need for this step, you just need to make sure you are connected to the correct account)
Step 4: Input the number of tokens to be transferred and fill in a Moonriver address to receive xcSDN, then click the Transfer button below.
Step 5: After confirming that the information is correct on the pop-up page, click the Transfer button again and sign in PolkadotJS/Talisman/Subwallet to submit the transaction.
After a few moments, you will be able to see your xcSDN balance on Moonriver by clicking on the wallet icon in the top right corner. Transferring xcSDN from Moonriver to Shiden will follow a similar process. In addition, you can also consider doing the above cross-chain operation through the Moonriver app.
In the next section, we will move on to the xcSDN/USDC LPFarming instruction, read on.
How to farm xcSDN/USDC LP on Zenlink？
The xcSDN/USDC liquidity incentive program has been launched on Zenlink and you can check it out here (make sure you are properly connected to the Moonriver network): https://dex.zenlink.pro/#/earn/stake
With X-Transfer we already have xcSDN on Moonriver, to join the xcSDN/USDC farm we also need to get USDC. (Or you can choose the Single-Token mode to add liquidity and get LP tokens without acquiring USDC, as explained in the following section)
Assets such as USDC bridged to Moonriver Network by Multichain are widely used, so for the xcSDN/USDC pairing, we adopted the USDC from Multichain, and you can access the Multichain portal by clicking on “Ethereum/BSC to Moonriver&Moonbeam” under the Bridge button in the bottom right corner of the Swap page.
After going to the Multichain portal, follow the normal bridging steps to bridge USDC from Ethereum to Moonriver. Next, let’s move on to the farming process!
Step 1: Go directly to https://dex.zenlink.pro/#/earn/stake or click on “Earn” in the left menu bar in Zenlink DEX to go to the farm page.
Step 2: Find the xcSDN/USDC farm and click “more” on the right to expand the operation panel and click “Add Liquidity”.
Step 3: Input the number of tokens you want to add on the add liquidity page and complete the approval process — supply.
You can also add liquidity using Single-Token mode, in which case you only need to have one of the xcSDN or USDC tokens to get LP tokens instead of having both of them.
Step 4: After successfully adding liquidity return to the farming page and stake LP tokens into the farming pool to earn ZLK rewards.
By this point, you’ve completed all the steps and successfully farmed xcSDN/USDC LP, just enjoy the farming as well as the juicy rewards!
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