To stake SIDE $LP, start by providing liquidity to the $SIDE/$WETH pair on Uniswap v2. This requires an equal dollar amount of $SIDE and $WETH.
Step 1: Acquire $SIDE and $WETH
Get $SIDE tokens from the Side app in the “Staking” section at “Swap” or directly from Uniswap here. For $WETH, you can obtain it on Uniswap by clicking here.
Step 2: Provide liquidity
Once you have both tokens, you can add liquidity to the $SIDE/$WETH pair. Click here to do this.
Adding liquidity on Uniswap with $SIDE and $WETH to earn pool tokens and stake SIDE $LP.
Select the amount you wish to provide. For instance, you might choose 0.05 $WETH and 217,358 $SIDE, which should be of equal dollar value at the time. Then, click “Confirm.”
Confirming liquidity supply: 95.0033 SIDE/WETH pool tokens ready for staking.
Your position: 95 SIDE/WETH tokens representing 0.642516% of the liquidity pool.
If it’s your first time adding liquidity with $SIDE or $WETH, you need to approve both tokens by clicking the “Approve” buttons.
Step 3: Stake your SIDE $LP tokens
After confirming the transaction, you will receive your SIDE $LP tokens. In this example, 95 SIDE $LP tokens were received. Next, go to the Side app’s “Staking” section and select “Staking SIDE $LP” to stake your tokens.
Stake your SIDE $LP tokens on the Side app to earn the displayed APR in rewards.
Disclaimer
Please note that providing liquidity and staking SIDE $LP tokens involves certain risks. One significant risk is impermanent loss, which occurs when the value of the tokens you have provided as liquidity changes compared to when you deposited them. Additionally, this LP staking is still experimental and may carry unforeseen risks. It is important to do your own research and understand that you could potentially lose some or all of your funds. Only stake or provide liquidity with an amount you are willing to risk.
