How to stake

Users who want to participate in LP Staking must have ELFI-ETH LP tokens or ELFI-DAI LP tokens to stake. If they supply liquidity to the ‘ELFI-ETH pool’ or ‘ELFI-DAI pool’ created in Uniswap V2, they can receive LP Tokens (ERC20) for each pool. ELFI-ETH LP staking and ELFI-DAI LP staking work in the same way, so this guide uses ELFI-ETH LP staking as an example.

First, click [Staking > LP Staking] on the top navigation bar of the ELYFI site to enter the LP staking page, and then click the ‘Get LP Token’ button at ELFI-ETH LP to move to Uniswap V2. On the app of Uniswap V2, you can get LP tokens after providing liquidity.

2. Return to the ELYFI site and click the ‘Stake | Unstake’ button of ELFI-ETH LP Staking to activate the pop-up window.

3. In the pop-up window, check that the ‘Staking’ tab is selected, and then enter the amount to be staked in the input box. (When staking for the first time, you must approve access to ELYFI to access the wallet.)

4. After that, if you click the ‘Staking’ button, the MetaMask pop-up window will appear. Please review the transaction details once again and proceed with approval.

5. After confirming the transaction, check the staking balance and wallet balance.

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Last updated 2 years ago