[Replaced by Vault Inc] Liquidity Mining for ERP
This page shows how to become a liquidity provide and mining our ERP governance tokens.
For now, we are launching in Polygon mainnet. We will also launch in Ethereum mainnet soon. When this Gitbook is being edited, we use the Quickswap as an example of the liquidity mining for ERP. Very similar operations can be done in Uniswap to mine ERP in Ethereum mainnet.
In order to provide the liquidity, you need to be the holder for both tokens in a pair. For example, for the ERP-USDC pair, you need to have both the ERP and USDC tokens in the same wallet. The amounts of tokens required for each kind of these tokens should satisfy the current price ratio between these two tokens. For example, if the current price in Quickswap between ERP and USDC is 1:10 and if you want to provide liquidity for 10,000 ERP, it requires there are 1,000 USDC in your wallet.
To begin with, please click the LP Mining button on the dashboard.
Then, use the Get LP Token button to go to the LP Token minting page.
The redirected page should be the Quickswap or Uniswap page to add liquidities. We use Quickswap as an example as follows.
After entering the target amounts of USDC and ERP and click Supply button, both amounts of tokens will be added.
Note that, if your wallet has never provided liquidity for either of these two tokens, you need to first Approve Quickswap or Uniswap to do so.
When the above Supply transaction is mined, your wallet should receive the USDC/ERP Liquidity Provider (LP) Token. You need to stake this LP token in Entropyfi to mine ERP governance token. To do so, go back to the Stake page showing on the top of this page, and click the Max button of the left in the Liquidity Stake section. The previously minted LP tokens are ready to be staked.
Press the Stake button and wait for the transaction is minted, then you can enjoy the passive income as a liquidity provider.
Last modified 1yr ago