The TOKE/ETH Curve v2 pool is activated and we’ve added a convenient way for Tokemechs to access providing liquidity to Curve (as well as boost their APR utilizing Convex) through the Tokemak UI at https://app.tokemak.xyz/. For the uninitiated with providing liquidity on Curve, please read the steps below carefully:
It’s important to first note that rewards from providing liquidity through Curve and boosting with Convex will provide CRV and CVX rewards, not rewards in Tokemak’s native token TOKE.
The arrow button will redirect you to Curve’s v2 Factory TOKE/ETH pool. You’ll first get a prompt notifying that you’re leaving Tokemak’s dApp:
Once you reach Curve’s TOKE/ETH deposit page, you’ll see a few options for providing liquidity: adding tokens in a balanced fashion (similar to providing liquidity on Sushi) or providing the maximum amount of tokens available in your wallet. Curve v2 allows for users to deposit tokens in varying ratios, unlike Uni v2/Sushi’s usual behavior of providing a 50/50 equivalent in tokens.
In order to take advantage of boosting your rewards over at Convex, you’ll want to ensure you simply “Deposit,” and not choose the option of ‘staking in the gauge.’ This allows you to take your tokeethCRV LP tokens (which you receive from providing liquidity on Curve) and deposit them into Convex.
Once you have your tokeethCrv (Curve LP) tokens, head back to the Tokemak dApp, and click on “DEPOSIT CURVE LP.” This button will bring a prompt to direct you to the Convex Finance stake page:
Clicking on “DEPOSIT ON CONVEX” will direct you to Convex’s staking tokeethCrv (Curve LP tokens):
In the search bar, typing in TOKE will filter the pools to the tokeethCrv Convex pool. There you can stake your tokeethCrv tokens and begin earning CVX on top of Curve’s rewards.
Note: a total of 17% fees are deducted from CRV rewards earned by your liquidity boosted by Convex. The breakdown of those fees, and an estimation of the total APR you can expect, is available in the “vAPR” column seen by clicking here:
It’s important to note that the TOKE/ETH Sushi LP will remain incentivized, however, there may be minor adjustments to balance the APR across the two pools. Tokemak currently controls ~40% of this pool and is now in an adequate position to incentivize CRV emissions while restructuring TOKE emissions accordingly.
Catch Up with the Latest Tokemak News:
Don’t forget to join us in the Discord and if you haven’t stopped by in a while. We’ve had some recent community calls (“State of the Reactor”) which can be listened to here at Tokebase:
- State of the Reactor – June 30th, 2022
- State of the Reactor – July 15th, 2022
- State of the Reactor – July 29th, 2022
In the Discord, the #dev-feed channel now has some more in-depth details on what the team is working on, and each Cycle’s rollover summaries.
The team is hard at work building and more updates are coming soon, Pilots.