Direct from the desk of Dane Williams.
Walkthrough for providing liquidity on PolyCub
Following the launch of the brand new DeFi platform called PolyCub, there are lots of questions going around looking for a walkthrough to providing liquidity.
In this blog, I take you through the process step by step and give you the chance to ask any follow up questions in the comments section below.
Let’s jump right into it.
First things first
Before we get into the walkthrough, you need to understand a few things.
Polygon is not free
Unlike Hive, the Polygon blockchain is NOT free to use.
So the first thing you need to do after setting up your MetaMask is to make sure you have a small amount of MATIC on hand for transaction fees.
You can get free MATIC for gas fees by blogging on Hive and then using Hive-Engine to buy and withdraw SWAP.MATIC into your Polygon wallet.
POLYCUB and pLEO token addresses
The most questions around providing liquidity on PolyCub ask about how to provide liquidity to the pCUB:MATIC LP.
As a result, I've used this farm as my example and thus you need to add the following custom tokens.
Contract addresses:
- POLYCUB contract address: 0x7cC15fEf543f205Bf21018F038F591C6BaDa941c
- pLEO contract address: 0xF826A91e8De52bC1Baf40d88203E572DC2551aa3
So your balances correctly display via MetaMask, make sure you add both these PolyCub specific tokens by clicking Import Tokens and pasting in the contract addresses.
1. Wrap your LEO to pLEO
Go to the LEO TO pLEO wrapper.
Paste in your Polygon address, then how much LEO you want to deposit (-1 LEO fee), your Hive username and finally confirm the transaction using keychain.
Wait a minute and you will see your balance of pLEO now in your MetaMask.
2. Add Liquidity via SushiSwap
Assuming you already have an equal dollar amount of MATIC in your wallet, you can now add liquidity.
On PolyCub, click Trade then Liquidity and bring up the SushiSwap interface.
Choose MATIC for the first (it auto changes to wMATIC) and paste the pLEO contract address to then choose pLEO.
Confirm the transactions and you will now have the required LP tokens.
3. Deposit the pLEO:MATIC LP tokens into the PolyCub farm
Go back to PolyCub and click the Farms tab.
Click the pLEO:MATIC farm and enable the contract.
Once enabled, click the Plus Sign and then the Max button.
You will now have added the LP tokens into the PolyCub farm and will start to earn POLYCUB rewards.
Final thoughts on providing liquidity on PolyCub
Every time I pop into the LeoFinance Discord or read through the daily LeoMarketTalk crypto live blog I see questions surrounding how to provide liquidity on PolyCub.
Hopefully this blog can act as a resource to link back to when the same questions get asked.
As I said above, you now have the chance to ask any follow up questions in the comments section below.
Let’s use the power of our community here on LeoFinance to build out this walkthrough.
Best of probabilities to you.