Thread by @Rentahomefast

EILI5

@THORChain Staking and LP guide

start to finish

Things you will need

-multichain wallet
-you DO NOT need rune (common misconception)
-any asset you want to lp thats on thorswap
-an open mind 😉

First you need to download one of these bad boys over at @xdefi_wallet

xdefi.io

once that is set up lets go over to thorswap.....

you can pick between any of these pools that you want to lp with.

clicking on any of the tabs at the top will allow you to sort from

highest tvl to lowest,

or highest price to lowest,

or highest apy to lowest apy. ect.

to swap click any of these buttons.......The one that says swap 😉

on the swap page you have a couple of options

you will get a list of assets just like this......dont be scared if you see synth under the asset.

so the TLDR on a synth asset is that it is an asset that is now native to thor chain itself

similar to wrapped btc being native to ethereum...... The same concept applies here

just a few benefits of synths
-lower gas fees
-faster (aka btc block times 10 min, synths are few seconds)
-reduction in swap fees
-interest bearing

or you can just look at a pretty picture

so lets say I have some btc and I want to swap to rune

what do I do?

well I choose to swap BTC.....

I dont have to pay any rune for gas the only gas fee I will pay is the fee in btc which is called

"Transaction Fee"

network fee is taken during the swap process

to adjust your slippage tolerance you can change that here.

1% is prob the highest you want to go unless trading a very volatile asset and one that has slow block speeds

Now if you are just wanting to LP and not trade then you need to go here......

This is what your screen should look like

Note you can add just btc, rune or rune and btc.....

it is NOT necessary to have both assets

notice here I can deposit just rune or btc......

also take note of the fees that have to be paid....the only fees you pay are in the asset you deposit....

so if you deposit both it will be a fee for both, if just rune then the fee is just in rune

also take note if you are depositing a large amount into the pool keep your eye on the SLIP

its like golf a higher number is not good 😉

once you do that you can manage your position now by clicking the liquidity tab on the left hand side

If you want to see how your lp is doing since you deposited click this button

It looks like im doin alright

quick tip if it doesnt load for you go to this site app.thoryield.com/accounts?bnb=

and enter your bnb addy or if its btc then just change to btc=............

When ur ready to pull out you just hit withdrawal

since I only deposited btc I can only take out btc.....if you deposit a mix (doesnt have to be asymmetric 50/50) you can pull out either or

when I say it doesnt have to be asymmetric I mean you can deposit 1 btc(45k) and 1 rune(10$)

you can withdrawal all rune, all btc or a mix of both

if that wasnt enough...... I got ur back here are some strats and a walk thru vid

WOLT
Proverbs 16:32
Better a patient person than a warrior,
one with self-control than one who takes a city.

Cool people share

https://twitter.com/Rentahomefast/status/1507828367600623629

#THORSwap
#RUNE
#lunaiscoming
#RAISETHECAPS

Also fun fact for those asking about staking.....you cannot stake your rune but you can lp with them

(bear in mind you will not have full rune exposure at that point when you lp.....it will be 50/50)

Also
when it shows bep2 in the wallet this is not your BSC addy it is the bep2 addy so will start with bnb

Oh and if you are trying to use busd or any bep2 asset you need bnb for gas just like you would for any erc20 token on eth