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LP Staking Guide
Description
LP Staking is the process by which you transfer your tokens to blockchain maintenance in exchange for rewards in the form of new tokens. In simple words, you “deposit” your tokens and receive rewards on top of them. On the Nimbus Platform, liquidity providers receive 35% APR in NIMB tokens when using LP Staking. The following pairs are available for this functionality: BNB / NIMB, BNB/GNIMB and NIMB/GNIMB.
To be able to use LP Staking, you need to have LP tokens on your account. You can get them by creating a pair through the Pool section of the Platform.
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Step 1
Go to the Pool Staking section of the main menu of the Platform.
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Step 2
Choose a pair you’d like to add liquidity to. Each window contains the following information: • amount of unused LP tokens • number of LP tokens already added to Staking • the pool rate: 35% APR in NIMB tokens • amount of LP tokens added to Staking by all users • the user’s share in the pool
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Step 3
To add LP tokens to LP Staking, click on the Deposit button. Apart from the information mentioned before, you will see three blocks: the amount of LP tokens added to Staking, accumulated rewards and the amount of LP tokens that are not used yet.
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Step 4
Click on the Approve button and enter the number of LP tokens that you want to add to Staking. To confirm the action, click on the Deposit button again.
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Step 5
Once done, your wallet will ask for confirmation. The gas fee needs to be paid for the transaction. If you agree with the gas volume, confirm the transaction.
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Step 6
Once confirmed, you will get back to the Platform and see that the transaction has been submitted.
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Step 7
The tokens added to LP Staking will be displayed in the Staking Deposit window and the rewards - in the Unclaimed rewards window.
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Step 8
To withdraw LP tokens from Staking, click on the Withdraw button in the Staking Deposit window. You will also need to confirm this action in your wallet.