How to Add Liquidity (Get LP Token)
In order to participate in StellaSwap's Farm and start generating yields, you have to provide liquidity first by staking two assets to get an LP token. An LP token is a token that you will receive for providing liquidity of 2 coins into a specific pool. For instance, staking GLMR and STELLA will generate GLMR-STELLA LP token, which can be used to stake on StellaSwap's Farms to start earning APR returns.
If you want to stake GLMR-STELLA under the Farm section, you first need to have GLMR and STELLA coins in your Moonbeam wallet. If not, get the coins by using StellaSwap's Swap feature. Here's a guide for Swap.
Poolsection. As its name suggest,
Poolallows users to "pool together" their 2 assets for providing liquidity. Connect your wallet by clicking on the "Connect Wallet" pink button on the top right, or click the button at the center of the page under
My Liquidity Positions.
After connecting your wallet, you should see this page if this is the first time you're providing liquidity. Click on the
Addbutton to start adding liquidity.
Select the two coins you want to provide liquidity towards. You only need to specify the amount in either field, and the other field will automatically populate. Understand that you will be providing liquidity at a 50/50 ratio. Once done, proceed by clicking on the button
Confirm Adding Liquidity.
There will be a pop-up for final confirmation. Click on that and sign the transaction on your wallet.
It will take a few moments for your transaction to ne confirmed. Until then, it will be
Pending, which you can see at the top-right of the website. If you want to see your transaction status, you can click on the link
View on explorer, where it will take you to Blockscout to view the status of your transaction.
After transaction completion, you would have an LP token that signifies your share into the GLMR-STELLA pool or any pool you decide to provide liquidity to. The most frequent use of the LP token is to stake it in StellaSwap's Farm section, where you can earn high APR returns.