How to Earn and Stake LP Tokens
The DeFi Space is growing, there is no denying that. More and more people are being attracted to the space for the multiple benefits that DeFi offers.
While there are many ways to earn an attractive APY in the DeFi space, the one we are going to cover here today is liquidity provider (LP) staking.
What is Sheesha Liquidity Staking?
Liquidity staking on Sheesha involves staking your $SHEESHA tokens to the Sheesha Finance liquidity pools. These tokens are available on the Ethereum, Polygon, and Binance Smart Chain networks. You can purchase these through UniSwap, QuickSwap, and PancakeSwap, respectively.
Liquidity provision is essential for the underlying DeFi protocol to function. Sheesha’s protocol locks the funds in a smart contract that supplies the capital needed to perform functions like:
- and other applications…
When liquidity providers deposit their $SHEESHA into the Sheesha liquidity pools, special tokens are minted. These are known as liquidity provider tokens (LPTs) which are claimed by stakers on the Sheesha Finance dashboard.
LPTs are used to determine the amount of:
- Funds LPs contributed to a pool
- The share of rewards they will receive for providing liquidity.
As LPTs have the same properties as other tokens on the blockchain, they can be staked, traded, or transferred the same as regular tokens.
How to Purchase Your LP Tokens
On Ethereum (ETH), head to UniSwap and connect your MetaMask wallet to access the $eSHEESHA LP token pool. The token pair is SHEESHA-ETH.
On Binance Smart Chain (BSC), head to PancakeSwap and connect your MetaMask wallet to access the $bSHEESHA LP token pool. The token pair is SHEESHA/WBNB.
On Polygon (MATIC), head to QuickSwap and connect your MetaMask wallet to access the mSHEESHA LP token pool. The token pair is mSHEESHA-USDT.
So far so good, still with us? Great job on making it this far. Now that MetaMask wallet is locked and loaded with Sheesha LP tokens, let’s cover the Liquidity Staking process on the Sheesha dashboard.
LP Staking on the Sheesha Dashboard
- Navigate to the Sheesha Finance dashboard.
- Connect the MetaMask wallet to the dashboard.
- Navigate to the Sheesha Finance Staking page. Make sure you’re connected to your desired network.
- Select the amount you want to stake on the “Stake LP Token” tab.
- Hit “Approve” and confirm the transaction in your MetaMask wallet.
- Check the “Total LP Tokens Staked” tab to make sure the amount is correct.
- Now kick back, relax and claim Sheesha and partner project rewards daily.
How to Remove Liquidity
For $eSHEESHA, $bSHEESHA, and $mSHEESHA LP stakers, you need to head back to the pool that you provided liquidity in. You can do so using these respective links:
Once there, make sure to connect your MetaMask wallet and click on the “Remove” button. Confirm your transaction and you will now find your tokens back in your wallet.
And it’s as simple as that!
Why Stake with Sheesha?
Sheesha Finance is a leading DeFi Staking Platform. We provide benefits from a premium, diversified cryptocurrency portfolio, with a staking platform that rewards investors of any size, from small to large ticket holders.
We have built an Investment and Incubation platform, Sheesha Foundry, with an extensive network of partners who are thought leaders in the crypto space. This allows us to consistently discover promising projects in their early stages.
Our easily convertible assets can be used to maximise rewards and gain exposure to existing and upcoming DeFi projects. With plans to become a member-managed Decentralised Autonomous Organisation (DAO), Sheesha Finance is dedicated to upholding full transparency and integrity within the DeFi space.
Sheesha staking can be done with $SHEESHA tokens. These can be purchased on Bancor, Uniswap, PancakeSwap, and QuickSwap.
Stake now, passively earn rewards, and join an ecosystem of high-potential crypto projects at Sheesha Finance.