I have been analyzing the Stader protocol for more than two weeks, I study the main aspects very deeply, I did my research and DYOR and this week I have already submitted my tokens to the liquid staking of the protocol))
And today I would like to share detailed instructions on how to interact with the protocol to extract the maximum possible benefit, for this, first of all, go to the official website.
And here we are on the page of supported networks at the moment, it is constantly expanding, in the near future the Ethereum network will be added, now this network is undergoing tests, so in the foreseeable future it will already be possible to participate in this network.
To work in the Polygon, BNB, Fantom and Ethereum networks in the future, we will need any wallet that supports the EVM network, I use only the Metamask browser wallet, if it is not already there, then install it. Also, when you go to any stake of interest from the Stader website, if you do not have a wallet that supports this network, you will be prompted to install it.
For instructions, we will stake in the Polygon network, the native coin of the network: Matic. With the rest of the networks, we perform all the points in the same order, the only difference lies in the choice of the network and the native coin of the network for the stake. If you do not have crypto assets yet, then they can be transferred from any centralized exchange to your installed wallet. Please note that Matic is transferred exclusively in the Polygon network to your Metamask address, this also applies to other networks (let's say BNB in the BSC network).
Click on Stake now(Polygon), and then again on Stake now
Check the selected network
We connect the wallet
Confirm connection in Metamask wallet
Shows with which wallet we connected and how many Matic coins we have in the Polygon network
Specify the amount of Matic that we want to stake
We see how much MaticX we will get, for possible further actions with Defi protocols
How you to check the information, press Stake Matic
We confirm the transaction with a wallet, all our Matic are staked, by the way, I forgot to mention, at 5.76% APY !!! Which is already very good
We see that our Matic tokens were written off in the amount indicated + a small commission for a transaction in the Polygon network
We see how many MaticX received, we can add them to the wallet so that they are displayed there
Support, prompt for any questions))
Links to official community accounts will prompt in any of them.
That's all, we staked our Matic, got MaticX, but not to the end, now we have all the charms of Stader liquid staking, we can further interact with Defi protocols with MaticX tokens
To maximize your profit:
We see that already at the moment there are a huge number of DeFi protocols with which we can interact with our MaticX tokens and get a fairly high APY, we will take a closer look at each of the protocols next time. Now for the instruction we use as an example: Quickswap, click Add Liquidity and go to the site Quickswap, connect your wallet to it, how to connect a wallet there is a paragraph above
Check the pair we provide for the Matic/MaticX stake, leave Select Range to Automatic, scroll down and insert the number of tokens we want to provide to the liquidity pool
Please note that for the stake we need WMatic and MaticX, the protocol itself will swap Matic to WMatic if the latter is not in the wallet, click Approve WMatic, confirm with the wallet, click Approve MaticX, confirm with the wallet, wait for confirmation, then Wrap Matic
Click Preview
We press Confirm and confirm the transaction with the wallet, that's all, we have provided the protocol with liquidity in the WMatic/MaticX pair at 13% APR!!! Now we can see our pool by clicking on the arrow in My Gamma LP
In this tab, you can add liquidity by clicking Add Liquidity
Also withdraw funds by clicking Withdraw
To convert MaticX to Matic back on the Stader protocol website, follow these steps
Click on the Unstake tab
Select the amount of MaticX you want to convert to Matic
First, approve the transaction with the wallet, then confirm the transaction with the wallet
That's all, our Matic is back in our wallet after a very profitable liquid staking of the Stader Protocol
Further, there will be no financial recommendation, and no advice, but I transferred all my long-term investment funds to the liquid staking of the Stader protocol, before that the funds were simply staking, and the same Matic staked about 4% APY, here in addition to the much higher APY for Matic , there is an opportunity to additionally invest your MaticX in the same WMatic / MaticX pool and in addition to 5.76% APY receive at least 13% APR, that's the math friends)