How to participate in mining of SushiSwap

Recently, DeFi, DEX, Stake, Uniswap, SushiSwap, and the return rate of these new platforms have caused the old leeks to be confused. They want to know how to participate in it and catch a wave of trends, so today I will focus on how to participate in SushiSwap for everyone. I will talk about it in detail below. If you understand the wallet operation process, you can start from the middle.

risk warning

When the emerging concept platform came out, there were many loopholes. There were price risks, capital risks, product security risks, and phishing links. In short, there were many risks. The reason for the prompt is to make you understand that you can participate with a small amount of funds first, or watch After you understand it, if you feel that you are very sensitive to risks, don’t participate, just treat it as a popular science.

If the funds are less than 5 digits, it is best not to participate, because the hot projects recently released have caused high gas costs on the chain. For those with a small principal, the handling fees for several transfers will cost a lot, not It’s a good deal.

Ready to work

1. Download the Metamask wallet on the computer (download address: metamask.io)
2. Open the sushiswap.org page (this is the page where we participate in mining)
3. After importing or creating a wallet, deposit ETH and USDT or the following trading pairs in it. Currently SushiSwap supports the liquidity pool of the following trading pairs

If you have the above currencies, you can start the next step directly. For example, if I have two currencies, USDC and ETH in the exchange or wallet, then I need to mention these two currencies to the Metamask wallet in the exchange , but the withdrawal must be 1:1 There can be some errors. For example, now 400USDC=1ETH, then I need to mention 400USDC and 1ETH when referring to the wallet. If I want to mention more, then follow this ratio. For example, mention 1200USDC and 3ETH….. .

The above is the preparation work and the place to know. Before we start, let’s talk about the logic of participating in liquidity mining. After we provide the liquidity of the above trading pairs on Uniswap, we will get the LP TOKEN. This LP is the proof that we provide liquidity rights on Uniswap. Let’s take this Putting LP on the SushiSwap platform can get the reward of this platform. This reward is SUSHI. There is a 0.03% liquidity reward on the Uniswap platform, and 0.025% liquidity reward on the SushiSwap platform, and the other 0.005% is used for repurchase From this perspective alone, SUSHI hopes to provide liquidity on SushiSwap.

Start of mining

I use the USDC-ETH trading pair to demonstrate. If you do this, you can participate in the currency you hold, or you can check which trading pair has the highest interest rate in the SushiSwap platform Menu to participate in the liquidity mining of which currency. The rate of return is very explosive.

1. Inject liquidity

Open Uniswap (Address Uniswap.org) and click on the upper right corner to open the application. After redirecting, we will click “connect to a wallet” in the upper right corner to connect to our downloaded Metamask wallet

Next, as shown in the figure below, click “Capital Pool” and then click “Add Liquidity” to select the liquidity pool we want to inject

Choose token

Find USDC

Click MAX, if the following “Suppy” does not appear, it means that the amount of ETH is not equal to the value of USDC. I also said that the ratio of 1:1 is required for withdrawal. Now we only need to click “MAX” next to ETH. Of course we You can’t put all your ETH in the liquidity pool. You need to leave about 0.2 ETH as the transfer gas fee. Click “Supply” and you will see the Metamask wallet pop-up window and click to confirm.

2. Operation of SushiSwap page

Open the sushiswap.org page, click “Unlock Wallet”, and connect to the downloaded Metamask wallet. After the connection is complete, click “Menu” at the top of the page to find the trading pair you own, and click “Select”

When you open the page below for the first time, there will be a different button in the red box. It probably means that smart contract deployment is required. It is also a pop-up window of Metamask wallet . Just click Confirm, and then we put the LP TOKEN here. That’s it, press “Harvest” on the left to withdraw SUSHI, and if you want to extract your liquidity, press “Unstake” on the right.

The above is the whole process of participating in SushiSwap.

Liquidity information of SUSHI-ETH: https://uniswap.info/pair/0xce84867c3c02b05dc570d0135103d3fb9cc19433

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