Ok promise kept👊. This is ANC-UST LP staking tutorial. Please leave❤️It helps me to reach more people and make them fell in love in Terra ecosystem.
First you need to prepare $UST and $ANC tokens. UST you can get from bLUNA collateral. You will find in previous tutorial how.
/1
First you need to prepare $UST and $ANC tokens. UST you can get from bLUNA collateral. You will find in previous tutorial how.
/1
https://twitter.com/PanParagraf/status/1372530171937439744
Then you go here: app.anchorprotocol.com/gov/rewards/an…. You need to provide UST and ANC in the same proportions. For example if ANC is worth 7UST then for every 1ANC you need to provide 7UST. Don't worry the system will calculate proportions for you. Confirm by clicking "add liquidity".
/2
/2
Basically you just added liquidity for ANC-UST pair and received some LP tokens for that. Now you need to stake them. Go to: app.anchorprotocol.com/gov/rewards/an… and stake all of your LP tokens. Please remember that you need to leave some ammount of UST free to pay fees.
/3
/3
... but don't worry this is not Ethereum chain. The fees are not that high😉. So congratulations! You just staked your ANC-UST LP for really decent APR. You can check your rewards here: app.anchorprotocol.com/gov. It's good to claim them from time to time and reinvest.
/4
/4
Before you move on we need to talk about "impermanent loss". I read some comments from people complaining that they $ANC tokens disappear from LP. Actually this is not the whole true. They are just being swapped for UST to rebalance proportions in LP when $ANC price goes up.
/5
/5
About impermanet loss you can read more here:
academy.binance.com/en/articles/im… In my opinion this risk is limited here as UST value is fixed. Moreover risk is limited by really high % APR of your staked LP. You earn rewards in $ANC so if it's price goes up, so does your rewards value.
/6
academy.binance.com/en/articles/im… In my opinion this risk is limited here as UST value is fixed. Moreover risk is limited by really high % APR of your staked LP. You earn rewards in $ANC so if it's price goes up, so does your rewards value.
/6
I'd like to clear also some other misunderstanding. Your rewards for ANC-UST LP is visible here: 352.52%. If it goes to "UST Borrow" it's another reward which is accrued to you when you borrow UST from your bLUNA collateral. So you can earn double when you are staking!👊
/7
/7
• • •
Missing some Tweet in this thread? You can try to
force a refresh
