Warning Defi can be confusing my first time I stumbled my way through it and ended up spending more in fees than I had to so I am creating this guide to assist.
Let's take a new DeFi token project https://moonswap.fi/
https://www.coingecko.com/en/coins/moonswap
The site works in conjuration with uniswap.app
They offer a 4x return on MoonToken for depositing Sushi on Uniswap
Start by clicking on Get SLP it takes you to sushiswap.vision
https://sushiswap.vision/pair/0x795065dcc9f64b5614c407a6efdc400da6221fb0
Click on Add Liquidity
From here enter the amount of Sushi you would like to put into liquidity
Note you must have both Sushi and ETH in your wallet more than likely metamask
Now you will have to approve a transaction that locks the rate in which will cost you gas in ETH
Once processed you will now need to click supply and incur yet another gas fee But first it will ask you to Confirm
This is where the 2nd fee will occure this one will be even larger than the first
Once complete you can confirm the liquidity this is how you can pull your liquidity and get all your crypto back plus interest
What you have just done is received Pool tokens for the trade this is what you use to earn additional yield.
go back to https://moonswap.fi/
Find the Sushi-ETH and click Farm
Next click Approve Sushi-ETH Sushi SLP
here you will pay for another smaller transaction fee
Next click the + sign
Click Max and then confirm This is where you will pay a larger transaction fee
Once the transaction is complete your done! You are now earning MoonToken for staking your Sushi Token!!
Conclusions:
You will need to have a trading pair moon offers
Moon-ETH
USDT-ETH
USDC-ETH
DAI-ETH
SUSHI-ETH
YFI-ETH
SUSD-ETH
LINK-ETH
LEND-ETH
BAND-ETH
SNX-ETH
COMP-ETH
UMA-ETH
CREAM-ETH
FARM-USDC UNI-V2 LP
SWRV-ETH UNI-V2 LP
YFII-ETH UNI-V2 LP
FOR-ETH UNI-V2 LP
DF-ETH UNI-v2 LP
If you don't you would need to
There are 4 transactions you will have to pay fees for
This example cost .032958021 ETH in Gas which at current time is valued at $12.02 USD
If you provide liquidity for moon if you act FAST you will earn MoonToken quicker
If this guide helped you please consider a small donation to my ETH account 0x7677B3F9EA57e66EEA7A2D310c1AFec7Fe880182 or tip me within read.cash
Thanks
