Guide: How to add liquidity to FRAX3CRV pool and stake your LPs on StakeDao.
In this article, we will be explaining how to add liquidity to our FRAX3CRV pool on Curve.fi and how to stake your LPs on StakeDao.
Frax Finance & StakeDao liquidity program rewards farmers who add liquidity to sdFRAX3CRV-f pool on StakeDao with FXS & SDT tokens.
1- How to get FRAX ?
- Connect your MetaMask extension to Curve.fi, then purchase the desired amount of FRAX you like to add to the liquidity using the links below:
FRAX : https://curve.fi/frax/
2- How to add liquidity to FRAX3CRV pool ?
Step 1
- Now you have FRAX tokens in your wallet you will need to add liquidity.
- Please head to https://curve.fi/frax/deposit and connect your MetaMask wallet.
- you will arrive at this page:
Step 2
- Enter the desired amount of FRAX tokens you want to add to Curve pool.
- Click “Deposit”.
- A MetaMask transaction will pop-up “Confirm” it, then wait for the transaction to be successful.
Step 3
- Please head to StakeDao staking page : https://stakedao.org/0x0000000000000000000000000000000000000000/strategies
- Connect your wallet.
- You will arrive at this page:
- Search for Passive FRAX Strategy and click “Deposit”.
- Click on “Balance” to add your LPs then click “Approve”.
- A MetaMask transaction will pop-up to approve your spending “Confirm” it.
- Another MetaMask transaction will pop-up to stake your LPs “Confirm” it.
Step 4 (Staking)
- Please head to our staking page : https://app.frax.finance/staking#StakeDAO_sdFRAX3CRV-f
- Connect your wallet.
- you will arrive at this page:
- Click “Available” to add your LPs.
- Select the lock-up period then click “Stake”.
- A MetaMask transaction will pop up to approve your LPs tokens spending, and another MetaMask to Stake your LPs tokens, Confirm the transactions.
Congratulations, you have successfully provided liquidity, you should now start receiving FXS & SDT rewards!
About Frax Finance
Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.
FRAX : is the stablecoin targeting a tight band around $1/coin.
Frax Shares (FXS) : is the governance token which accrues fees, seigniorage revenue, and excess collateral value.
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