How to Liquidity Provide stkd-SCRT (Shade Protocol)
Greetings Secret & Shade Protocol community,
Shade Protocol is bringing privacy-preserving SNIP-23 liquid staking derivatives to Secret Network, enabling users to secure Secret Network and other application protocols without exposing their privacy using SCRT!
Landing Page: https://shadederivatives.io/
Staking Derivative App: https://app.shadeprotocol.io/staking-derivatives
This tutorial will teach you how to liquidity provide your recently minted staking derivate stkd-SCRT on SiennaSwap.
- Keplr Wallet
- SCRT (for gas)
- ~8 minutes of time
Tutorials To Meet Requirements
- Navigate to SiennaSwap
- Click on the “The Pool”
- Search for the sSCRT / stkd-SCRT pair
- Select pair
- Enter desired LP amount
- Approve both tokens on the LP interface
- Click “Provide”
- View Share of Pool
- Withdraw LP (Optional)
Step 1 — Navigate to SiennaSwap
Navigate to the official SiennaSwap application:
Step 2— Click on “The Pool”
Next, click on “The Pool” located on the leftside of the application.
Step 3 - Search for the sSCRT / stkd-SCRT pair
On the right side of the page, enter in “sSCRT + stkd-SCRT” to find the liquidity providing pair we will be using to earn rewards.
Step 4— Select Pair
Click on “Select Pair” to navigate to the sSCRT + stkd-SCRT LP pool page.
Step 5— Enter Desired LP Amounts
Next, enter your desired amount of sSCRT & stkd-SCRT you would like to liquidity provide.
Step 6— Approve Both Tokens on LP Interface
Next, approve both sSCRT & stkd-SCRT on the LP interface before performing the “Provide” contract interaction.
After clicking “Approve SSCRT” a Keplr transaction pop-up will occur, click on “Approve”.
Upon successful approval, you will see the following pop-up:
Repeat these exact steps for stkd-SCRT:
Step 7- Click “Provide”
After both tokens have been approved, the “Provide” button will now change to the color blue — signaling that you can officially provide liquidity. Click on the button and walk through the steps.
Step 8 — View Share of Pool
In order to view your share of the LP pool, click on the “View Balance” button on the LP provide page of sSCRT / stkd-SCRT to view your encrypted balance.
Step 9— Withdraw LP (Optional)
If you would like to withdraw your LP tokens to get back your original collateral of sSCRT and stkd-SCRT, first navigate to the “Withdraw” page from the provide page by clicking on the button circled below.
On the above page, select “Max” or your desired amount of LP you would like to withdraw. Listed below are the amounts that you will get in return for unbonding your LP tokens for the original collateral. Once you have entered the desired amount, click on “Withdraw”.
Congratulations, you now know how to LP provide & withdraw your initial principle & trading fee rewards!
Join The Community