Bootstrap liquidity in Uniswap for juicy $GUILD rewards!
Good day, GUIDLers!
After the launch of our staking program on December 15, we received a number of requests to guide our community through LP staking and therefore created this guide to help you understand how to stake Uniswap LP tokens.
Our LP Staking Rewards pool receives 80% of all current staking rewards, meaning $GUILD rewards here are even more juicy!
Before you get started make sure you own GUILD and USDC. You will need to own both tokens before depositing into the Uniswap v2 Liquidity Pool.
When depositing into the Liquidity Pool you need an equal amount of GUILD and USDC to deposit into the Uniswap v2 Liquidity Pool. Please only use links that we provide here.
Do you already own $GUILD and $USDC?
Great, let's get you started!
Step 1: ADDING LIQUIDITY: Go to….https://bit.ly/GUILDUNIV2LP. This is the Uniswap v2 Liquidity Pool. This is where you enter your equal amounts of GUILD and USDC.
Step 2: SUPPLY liquidity to the LP Pool:
After entering equal amounts of GUILD and USDC, you now need to click SUPPLY.
You will then receive a prompt in your Metamask/Trustwallet to confirm this.
Once you have successfully supplied GUILD and USDC, Uniswap will state the number of LP (liquidity pool) tokens received in return.
In the example below, you can see 1000 GUILD and 444.316 USDC were provided to the Uniswap v2 Liquidity Pool. This gave back 0.000640671 LP tokens which represent 0.02864% share of the total GUILD:USDC pool.
In this example, you successfully supplied 0.0006406 LP tokens and has a pool share of 0.0286%
Step 3: STAKING LP TOKENS
Connect your wallet to vault.inc. You can either use Metamask or Wallet connect.
After connecting your wallet, click the “STAKE” button for the GUILD:USDC LP Pool, as indicated in the image below.
You will then be redirected to the staking page. Here you need to choose the amount of LP tokens you want to stake (click max if you want to stake all LP tokens) and choose a Lock-up period that suits your needs. Locking tokens means you cannot withdraw them for that period of time. (For more details on the advantages of longer vesting periods, please read our article about single-sided GUILD staking)
STEP 4: STAKING LP TOKENS
After you select the amount and lock-up period, it’s time to approve the transaction by pressing ‘Stake’.
The first time you click Stake means you allowed the protocol to ‘spend’ your tokens via staking. THIS DOES NOT MEAN THAT IT IS STAKED YET!
This will prompt a notification from your Metamask/Trustwallet. Click approve. This will incur some gas fees.
After you have approved the contract to spend your GUILD:USDC LP tokens, you have to make a second transaction to stake your tokens.
Click the “Stake” button for a second time so that your LP tokens will now be staked. Again, there will be a prompt in your Metamask/Trustwallet to approve the staking of the LP tokens. Just click approve. Again, this will incur gas fees.
After successfully finishing all the steps, you can check your staked pools in the Deposits Tab.
Congratulations!! You are now officially staking GUILD:USDC in our staking vault!. You will also be receiving juicy GUILD rewards in return. Rewards will start accumulating right away!!