This article was first published on Bancor - Medium
Here we’ll show you how to stake in a Bancor pool, earn impermanent loss protection, receive the Bancor governance token (vBNT) and vote in governance.
There are three main steps:
- Join a whitelisted pool
- Protect your pool tokens from impermanent loss & receive vBNT (for voting)
- Vote in Bancor Governance interface
1. Join a Pool
*Note this section shows Double-Sided liquidity provision (with two tokens). Single-Sided liquidity provision (one token, single-token exposure) will be enabled if Bancor Governance approves the Bancor v2.1 improvement proposal.
Step 1: Go to app.bancor.network/eth/pool, click “Pool” and “Join a Pool”
Step 2: Supply liquidity:
Now you are holding BNT/ETH pool tokens, which can be protected against impermanent loss.
2. Protect Your Liquidity
Step 1: Go to the Liquidity Protection interface by clicking “Protection” in the side menu: app.bancor.network/eth/protection
Step 2: Click any of the “Stake” buttons to stake your pool tokens and protect them from impermanent loss.
Step 3: The stake protection interface will now open with the option to either “PROTECT SINGLE TOKEN” (single-sided liquidity) or “PROTECT POOL TOKEN” (dual-sided liquidity). Currently only the second option, “PROTECT POOL TOKEN”, is available. Single-token protection will be enabled if Bancor Governance approves the Bancor v2.1 improvement proposal.
Click the “Stake pool token” button to see available whitelisted pools:
Step 4: You will now see the full list of whitelisted pools:...
To keep reading, please go to the original article at:
Bancor - Medium