QuickSwap cxETH-WETH
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This tutorial will guide you in the process of depositing new funds on the Polygon Quickswap PYTs on top of the cxETH-WETH market.
To deposit into the cxETH-WETH pool, you should follow 3 steps:
- 1.Deposit funds on Celsius and bridge them on CelsiusX
- 2.Use QuickSwap to provide liquidity for the CelsiusX pairs
- 3.Deposit QuickSwap LP tokens in Idle's PYTs
Celsius’s dashboard allows users to bridge wrapped ETH from the Celsius Network to Polygon right from within the Celsius app, free of charge. To bridge assets to Polygon using the CelsiusX Bridge, follow these simple steps:
- 1.Create an account on Celsius and get verified
- 2.Add funds to Celsius
- 3.Bridge assets from Celsius to the Polygon Network
- 1.Connect wallet to QuickSwap
- 2.Swap CelsiusX tokens (i.e. cxETH for ETH)
Once you have equal parts of cxETH and ETH in your Polygon-compatible wallet, you’re ready to provide liquidity for the cxETH-ETH pool on QuickSwap. From QuickSwap’s user interface, select the Pool tab, and click on Add Liquidity.
After having added funds to Celsius, bridged them to Polygon using CelsiusX and provided liquidity on the Celsius pairs on QuickSwap, you can finally go back to Idle Finance and enjoy the different risk-return tranches of the Perpetual Yield Tranches.
- Choose the Perpetual Yield Tranches strategy in the Idle dashboard sidebar.
- Choose whether to invest in Senior or Junior tranches.
Using the Senior Tranche, in the case of a Smart-Contract breach, your funds will be covered by the funds deposited in the Junior Tranche.
Using the Junior Tranche, in the case of a Smart-Contract breach, your funds will be employed to cover eventual losses on the Senior Tranche.
QuickSwap cxETH/WETH PYTs dashboard overview
- 1.Type in the amount you want to deploy on the tranche
- 2.Click on Approve to approve the token spend limit (1st Tx)
- 3.Once the spending approval is confirmed, you will be able to deposit cxETH-ETH QuickSwap LP tokens
- 4.Click on Deposit to deposit your funds (2nd Tx)
- 5.You will now own cxETH/wETH-LP tokens for the asset you deposited depending on the side of PYTs you chose (AA_cxETH/wETH-LP for Senior, BB_cxETH/wETH-LP for Junior)
By staking the cxETH/wETH-LP tokens (either Senior or Junior) you can also obtain on-top staking rewards in the form of dQUICK.
Last modified 1yr ago