Guide: How to bridge FRAX to Fantom network and add liquidity to SpiritSwap.

We will explain how to bridge your FRAX stablecoins to Fantom network and how to provide liquidity to SpiritSwap.

Frax Finance & SpiritSwap liquidity program incentives farmers who provide liquidity to FRAX-FTM pool SpiritSwap with 1274 % APR.

(NOTE : APR is subject to change depending on TVL & Price )

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 get FTM?

  • To get FTM Tokens you can buy it from BINANCE exchange and send it to your wallet via FTM Network.
  • Or you can buy it from UNISWAP, then bridge it using Multichain bridge, we will explain how to use Multichain bridge later in this guide.

(NOTE : you will need equal dollar value of both FRAX and FTM, for example if you want to add 100 FRAX you will need 100$ worth of FTM).

3- How to bridge your FRAX to Fantom network ?

  • Now you have FRAX in your ETH wallet you will need to bridge it.
  • Head to Multichain bridge link: https://multichain.xyz/swap and connect your MetaMask wallet.
  • You will arrive at this page:
  • Choose FRAX (FTM) in the “from” drop-down menu, and FRAX (ETH then Click on the up/down swap arrows.
  • Write the desired amount of FRAX you wish to bridge to Fantom Network then click “Transfer”.
  • A MetaMask transaction will pop-up “Confirm” it.
  • A pending deposit & Transfer transactions will appear wait until they are both successful.
  • Now your FRAX tokens are bridged, you will need to switch to fantom Network (FTM).

4- How to Switch your MetaMask wallet to Fantom network ?

  • To switch your MetaMask to Fantom network, you will find at the top “Ethereum Mainnet” Click on it to open the drop-down menu.
  • At the bottom of the list, you will find “Custom RPC”. click on it.

The window below will appear, Enter these details and then Click “Save”:

You are now connected to the Fantom Network (FTM)!

5- How to add liquidity to FRAX-FTM Pool on SpiritSwap ?

Step 1

Step 2

  • Write the amount of FRAX you wish to add to the liquidity pool, SpiritSwap will automatically calculate the equivalent value in FTM to be added.

(NOTE: You will need extra FTM to spend for gas)

Step 3

  • Click “Approve” for FRAX spending, a MetaMask transaction will appear. “Confirm”it.

Step 4

  • Click “Supply”.
  • Click “Confirm Supply”.
  • A MetaMask transaction will appear. “Confirm” it.
  • You will receive FRAX-FTM LP tokens, and SpiritSwap will show your liquidity position here.

Step 5 (Staking)

  • You successfully provided liquidity, now you need to Stake your LP Tokens.
  • Please head to the SpiritSwap Farming page link here: https://app.spiritswap.finance/#/farms
  • You will arrive at this page:
  • Write Frax in the search bar, then Click “Approve”.
  • A MetaMask transaction will appear. “Confirm” it.
  • Click “Deposit”.
  • Click “Max” then “Confirm”.
  • A MetaMask transaction will appear. “Confirm” it.
  • SpiritSwap will show your rewards to harvest and the APR at the moment is 1274 %.

(NOTE : APR is subject to change depending on TVL & Price )

Congratulations, you have successfully provided liquidity, you should NOW Start receiving SPIRIT 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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Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.