I am excited to announce that KEEP Network has launched, for a limited time only, KEEP & TBTC liquidity rewards on Uniswap for three pools!
The breakdown of weekly rewards for each pool is as follows:
* 300K KEEP to Uniswap KEEP/TBTC (~800% APY*)
* 250K KEEP to Uniswap KEEP/ETH (~800% APY*)
* 50K KEEP to Uniswap TBTC/ETH (~85% APY*)
Note: The annual percentage yield (APY) shown above are as of Jan 18th 2021–10 pm UTC. Expect the APY to drop as more people become liquidity providers (LP’s).
In this guide, I will demonstrate how to become LP on Uniswap and earn KEEP rewards. The steps are the same for all three pools
There are 2 main parts —
PART 1. Becoming a Uniswap Liquidity Provider (LP):
Prerequisites: — You need to have KEEP and equivalent $ value of ETH or TBTC to become LP depending on the pool you want to be in. Example — If you want to become LP in KEEP/ETH pool and have 1000 KEEP, you would need 0.28 ETH to become LP. At the time of writing this article — KEEP is trading at 0.35$ and ETH at 1240$. You would also need some additional ETH for transactional gas costs. To approve transactions, make sure you have Metamask browser extension installed (guide).
Important Note: Please ensure that you use the correct Uniswap pairs/contracts!
KEEP Contract: 0x85Eee30c52B0b379b046Fb0F85F4f3Dc3009aFEC
TBTC Contract: 0x8dAEBADE922dF735c38C80C7eBD708Af50815fAa
Go to official Uniswap website and connect your wallet.
Navigate to ‘Pool’ section.
Click ‘Add Liquidity’.
Now you need to choose the desired pair — KEEP/ETH (for this guide as example). ETH should be chosen automatically (choose if it is not). Then click “Select a token” to add KEEP token. Find the “KEEP” in search bar.
If it’s not there, you need to choose another token list. CoinGecko should work, Select it:
When you choose KEEP, the next step is fill in the amount of KEEP (1000 in our example). Then you will see how many ETH you need, it will be calculated automatically. Please ensure you have this amount of ETH and additional ETH to cover the gas fees. If you agree to add this sum to liquidity, click “Approve KEEP”.
Next you will see Metamask notifications and transaction fee. Confirm and wait for the transaction to be approved.
Now click ‘Supply’.
You can see how many pooled/LP tokens you get. Click “Confirm Supply”. And approve Metamask transaction.
Wait for Metamask transaction to confirm and you are done with part 1.
Well done! The hard part is over 😊
PART 2. Deposit LP/Pooled Tokens in Keep Dashboard.
This step is required to earn KEEP rewards.
Go to Keep Liquidity Dashboard and Connect your wallet.
Go to KEEP+ETH (for this guide) part and click ‘Deposit LP Tokens’.
Allow/Approve LP tokens to be spent on Keep Dashboard. Confirm the transaction and wait for it to be approved.
Confirm the transaction to Deposit LP tokens in Keep Dashboard.
Wait for the transaction to be approved and you are all set.
Congratulations! You have now started your journey to earning KEEP rewards !
Using the Keep Dashboard you can monitor the amount of KEEP rewards that you have earned.
Note: At any point if you wish to add more KEEP/ETH to your current LP position, you simply need to repeat steps 1 and 2.
Withdraw KEEP rewards —
When you want to withdraw KEEP rewards — Simply click on the ‘Withdraw All’ button and this will unstake all your LP tokens (pricipal) and also withdraw all your KEEP rewards.
Alpha: These high APY rewards will only be available for a limited time, in order to maximize this, it is best to stake and sit back to watch your KEEP awards accumulate.
Disclaimer: When providing liquidity to liquidity pools on any platform/pools, there may be a risk of Impermanent Loss. In order to learn more about this, please watch this short educational video: https://www.youtube.com/watch?v=8XJ1MSTEuU0
If you have any further questions in regards to this guide or the KEEP/tBTC project itself, feel free to join the KEEP discord server. 😊