STAKE NYAX TO LIQUIDITY POOL (earn income)
Liquidity Staking is the process of staking the liquidity you add to the NYAX Uniswap pools (either ETH pool or USDT pool) and earning NYAX rewards in return.
As many know, when Uniswap liquidity providers deposit liquidity (ETH/USDT + native tokens) into a Uniswap pool, special tokens known as liquidity tokens are minted to the provider’s address.
Whenever a trade occurs, a 0.3% fee is distributed pro-rata to all LPs in the pool at the moment of the trade.
In addition to earning fees, Uniswap also allows “liquidity providers to STAKE their liquidity tokens to earn even higher APY income.
For an LP provider, you are now doubly incentivized to maintain your LP token, because not only are you earning the trading fees, you are also earning rewards on top of that in the form of new NYAX tokens.
HOW TO BECOME A LP (Liquid provider)
1. The first step, or course, is to purchase some NYAX tokens online, which you can do at https://app.uniswap.org/#/swap?inputCurrency=0x5eed5621b92be4473f99bacac77acfa27deb57d9
Note: make sure to reserve enough pairing tokens (ETH/USDT) to match the value of NYAX you wish to stake.
Example: if you want to contribute $1,000 to NYAX-ETH LP, you'll need $500 in NYAX and $500 in Ethereum.
2. Next, go to https://v2.info.uniswap.org/token/0x5eed5621b92be4473f99bacac77acfa27deb57d9 and click (+Add Liquidity) tab and enter the amount of NYAX and ETH or USDT you would like to stake in the LP.
Once added you will receive special LP tokens from Uniswap that represent your share in that liquidity pool.
You can find more information on how to find your LP token on Metamask at https://dailydefi.org/articles/add-lp-token-to-metamask/
YIELD FARMING REWARDS
Once you have added to a LP you will then be able to take those specialized Uniswap LP tokens and stake them in our future DeFi farming platform to earn not only the trading fee from the LP, but also reward NYAX tokens to generate income for being a LP provider to the project.
If you would like to learn more about purchasing or staking NYAX please email us at [email protected]