Outdated: Staking Update: ETH-WPE LP
UPDATE: THIS LONG PROCESS IS NO LONGER NEEDED
Please use the 1-Step Staking Guide instead!
When you come to place capital in a Hive on BEES.Social, most Hives have a one-step method in which one can add liquidity and stake their liquidity pool (LP) tokens. All except for the ETH-WPE Liquidity Pool.
When you select “Add Liquidity” instead of instructions as in this case (link) you are presented with this screen. I know — WHAAAT?
But we have an answer to this challenge.
If you already know, you can skip ahead. If you don’t what you need to know that you are placing capital in a Uniswap liquidity pool. All Uniswap liquidity pools require a 50–50 split of your assets at entry in order to participate. Really.
That means that you either need to add 100% more Ethereum OR plan on cutting your stack of Etherum in half — splitting it with wrapped PE (wPE).
You’ll need to get your 50–50 split of assets worked out here. Once there, you just need to go back to that “Pool” page (the first one you were brought to) and add in that allocated 50% of one of the two assets, and UNiswap will auto-populate the other side of the pair with the 50% you’ve set aside.
We have put together a cheat-sheet spreadsheet here (Spreadsheet Link) and a video (below) that explains how you can take care of it all.
PLEASE MAKE SURE YOU ALLOCATE ENOUGH FOR GAS FEES.
Our hope is that depending on if you are starting with Ethereeum or Ethereum and wPE, this will help show you what you need to have in place.
To be clear, your first step will be to execute a swap (using the links in the spreadsheet or this one): https://app.uniswap.org/#/swap?inputCurrency=0xd075e95423c5c4ba1e122cae0f4cdfa19b82881b
Once you’ve swapped to make your 50–50 allocation, you will now need to open the pool link (also found in the spreadsheet) but also here: https://app.uniswap.org/#/add/0xd075e95423c5c4ba1e122cae0f4cdfa19b82881b/ETH
You will just need to place the recommended amounts (far more than the ones we’ve shown in our demo) on this screen. The spreadsheet does help!
From there, press “Supply” and approve all the Uniswap and Metamask approval requests you receive — including the fees for Uniswap and gas fees.
Once you have added liquidity (i.e., your 50–50 split of capital into the wPE-ETH LP), you will then be able to go back to this screen on https://app.bees.social and tap “View”
And when you get to the screen below:
- tap, “Use Max Balance.” this should update the numbers to the left from all zeroes to the units you’ve provided to the liquidity pool, then
- tap “Stake.”
Make sure you provide Metamask with the permissions BEES.Social is requesting.
Conforming everything in the background will take about 5 minutes. When you refresh the page you will see your staked amount here
Hopefully, this will help you along the way!