Tutorial: How to stake LP tokens on Ubeswap

Vooka
Vooka
0xAE3d
November 8th, 2021

What is Ubeswap?

Ubeswap is a mobile-first Decentralized Exchange protocol for the Celo Network. Ubeswap wants to power Decentralized Finance (DeFi) on Celo by providing liquidity across all assets.

Celo is a mobile-first blockchain protocol that makes DeFi tools and services accessible to anyone with a mobile phone.

Step-by-step guide for Ubeswap:

If you are not using a Celo-Native Wallet App (Valora, Celo Wallet, Celo Terminal, etc.), you will need to initialize your wallet for Celo Network and acquire CELO tokens to pay for transaction fees. Find our guide for setting up your wallet on Celo here.

Once your wallet is set up,

  • Go to ubeswap.org
  • Click Launch App
  • Click Connect to a wallet
  • Select Swap from the menu

For our example, I am going to provide liquidity for the UBE-CELO pool so I begin by swapping CELO for UBE in order to have both assets.

Swap CELO for UBE
Swap CELO for UBE

Once the swap completes,

  • Select Pool from the menu
  • Click Add Liquidity
  • Select both tokens you’d like to provide liquidity for (e.g. CELO & UBE)
  • Click Approve [TOKEN] (e.g. UBE)
  • Click Supply
Deposit liquidity for CELO and UBE
Deposit liquidity for CELO and UBE

Once your transaction completes,

  • Select Farm from the menu
  • Click Deposit for the pool you provided liquidity for (e.g. UBE-CELO)
  • Click Deposit UBE-LP Tokens
  • Click Approve
  • Click Deposit
Stake UBE-CELO LP tokens
Stake UBE-CELO LP tokens

Congratulations! You are now earning interest in Ubeswap’s governance token, UBE, on your staked liquidity pool tokens.

Arweave TX
O-8zUGezPGR8YvhbqzMEZaIgXZzYPyKoYwW0OTgBCsQ
Ethereum Address
0xAE3dfaCbB7d98518Fcc1A7E1adA992AB2def3b62
Content Digest
U-9pALxL1Q-7o9TtZ1u1_VAMaPHkqkFmwEKvVhvcQaE