Guide: How to bridge FRAX & ETH to Harmony and add liquidity to Sushi.

In this article, we will be explaining how to bridge FRAX & ETH and add liquidity to Sushi.

1- How to get FRAX Stablecoin?

  • 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 bridge FRAX & ETH to Harmony?

Step 1

Step 2

  • Connect your wallet.
  • Click on metamask to connect your wallet.
  • A MetaMask window will pop-up, Click “Next” To allow access to your wallet.
  • Another MetaMask window will pop-up, Click “Connect” to connect your wallet.
  • Click “ERC20”, click on “use custom address”.
  • Enter FRAX contract address: 0x853d955acef822db058eb8505911ed77f175b99e , click on “Change token”.

Step 3

  • Now you have successfully selected FRAX, you will need to bridge it.
  • Enter the amount of FRAX you want to bridge.
  • Enter your ONE Address (Harmony Address) where you want to receive your bridged tokens.
  • Click “Continue.
  • A new page will appear asking you to approve the amount for token manager, Click “Continue”.
  • Click “Confirm”.
  • A MetaMask window will pop-up. Click “Confirm”.
  • Wait for the transaction to be confirmed.
  • “Success” will appear, now you have successfully bridged your FRAX stablecoins to Harmony network.

2.1. How to bridge ETH to Harmony?

Step 1

  • Click on “ETH”.
  • Enter the amount of ETH you want to bridge and enter your ONE Address (Harmony Address) where you want to receive your bridged ETH.
  • Click “Continue”.
  • Click “Confirm”.
  • A MetaMask window will pop-up, Click “Confirm”.
  • Wait for the transaction to be confirmed.

Now You Have Successfully Bridged Your FRAX & ETH to Harmony network 🙂

3- How To Provide Liquidity to Sushi Harmony ?

Step 1

  • (NOTE: you will need some ONE tokens to use for transaction fees ).
  • You can buy ONE tokens from exchanges such as www.binance.com, and transfer it to your wallet.

Step 2 (staking)

  • Click on “Ethereum” and select Harmony network.
  • Click on “Harmony”.
  • A new MetaMask window will pop-up to allow you to automatically switch your MetaMask to Harmony network.
  • Click “Switch network”.
  • Click “Pool” to provide liquidity.
  • Click “Add”.
  • Select “ETH & FRAX
  • Enter your desired amount of ETH & FRAX you want to use to provide liquidity.
  • Click “Approve” for both FRAX and ETH spendings, for each Approve a MetaMask transaction will appear. Confirm it, and wait between each transaction until it is executed.
  • Click “Confirm Adding Liquidity”.
  • Click “Confirm Supply”.
  • A new MetaMask window will pop-up. Click “Confirm”.
  • Select 1ETH/1FRAX pool and enter your Sushi LP Token and click on “Approve”.
  • A new MetaMask window will pop-up. Click “Confirm”.
  • Click “Stake”.
  • A new MetaMask window will pop-up. Click “Confirm”.
  • After staking your Sushi LP token, you will start receiving Sushi & ONE token rewards.

CONGRATS, YOU HAVE SUCCESSFULLY PROVIDED LIQUIDITY AND HAVE STARTED RECEIVING SUSHI & ONE TOKEN REWARDS!

4-How To Remove Your Liquidity?

Step 1 (unstaking)

  • Enter the amount of Sushi LP token you want to unstake. Click on “Unstake”.
  • A new metamask window will pop-up. Click on “Confirm”.
  • Click “Remove”.
  • Click on “APPROVE” and click on “CONFIRM”
  • Click on “Confirm”.
  • A new metamask window will pop-up. Click on “Confirm”.
  • Wait for your transaction until it is confirmed.

YOU HAVE SUCCESSFULLY REMOVED LIQUIDITY!

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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Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.