How To Provide Liquidity For $axlUSDC On Sushi?
Learn more about add $axlUSDC to Sushi as a Liquidity Provider (LP)
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💡 Before you can provide liquidity you'll need to have the $axlUSDC token and USDC in your wallet. Follow these steps if you want to learn more about buying & selling your $axlUSDC tokens.
🍣 What does providing liquidity mean?
Liquidity Providers (LPers) provide pool liquidity on the Sushi Exchange to improve $axlUSDC market efficiency and earn trading fees. Liquidity providers receive a portion of trading fees corresponding to their “pool share”.
đź’° How to add $axlUSDC to Sushi as a Liquidity Provider (LP)
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Connect your wallet (MetaMask in this example) to Sushi and head over to "Earn" in the menubar. Select Arbitrum One in “Networks” tab and enter axlUSDC on the “filter tokens” search bar. *Double check and make sure you are connected to Arbitrum One
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Point your cursor over the first pool and click on deposit , this will lead you to this page.
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Select the $axlUSDC and USDC token amounts you would like to add to the liquidity pool. Note: Both tokens will automatically represent a 50/50 balance, make sure you have enough tokens of each in your wallet.
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Approve $axlUSDC and $USDC token (if you haven't already).
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Confirm Adding Liquidity.
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Once the transaction is confirmed, you will see your liquidity position on there right side of the app.
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Now click on “Stake Liquidity” and select the amount of SLP you want to receive incentives on. You will be asked to approve the SLP if you haven’t such as in the images below.
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To view your pool position at any time, head over to the menubar and click on "Earn" and go to “My Positions” You'll find an overview of and are able to manage all your LP positions from this page.
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Congratulations! You have successfully staked your tokens as a "Liquidity Provider" in Sushi. This means when people make a trade you will be eligible for part of the 0.25% trade reward.
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