UPDATE: As of 7/7/22 the newest staking contract (V4) is live! Check out our blog for more information.
Have you been holding (HODLing) FOX or perhaps recently claimed some FOX from our airdrop and would like to accumulate some more? Keep reading to find out how to add FOX to a liquidity pool which will increase your FOX bags!
You will need to unstake your LP tokens and add them to the new farming contract in order to continue earning rewards. You do not need to remove your liquidity.
Do I need to claim my farming rewards before July 7?
When you unstake, you will be claiming your FOX farming rewards at the same time. This means you do not need two different actions for unstaking and claiming your rewards. Your bonus rewards will be deposited into your connected wallet.
In this article we will show you how to stake your FOX and ETH to a FOX/ETH pool on the ShapeShift Mobile App as well as our external page. Once your funds are staked in either place you can return to the app or the external page to view your earnings and withdraw your FOX at any time. To remove your staking position, you can reference this article.
Table of Contents (click any option below to skip to that section):
- Adding funds to liquidity pool with mobile
- Staking the LP token to “Farm FOX” with mobile
- Adding funds to the liquidity pool on web
- Staking the LP token to “Farm FOX” on web
What Do I Need?
- FOX and ETH (equal amounts must be staked) + ETH for gas fees
- Access to the ShapeShift Mobile App or http://fox.shapeshift.com/fox-farming
Adding funds to the liquidity pool and staking your FOX/ETH LP tokens with mobile:
1. From your Dashboard select “Earn”. From here click “WETH-FOX Liquidity. Note that the APR % is subject to change and may be different in your app than what is shown in the screenshot below.
1a. Click the > button in the WETH-FOX Liquidity Pool section.
3. Enter the amount of ETH/FOX you would like to deposit into the LP. You will notice the other amount field would auto populate with the amount. If you’d like to stake all of your available ETH/FOX, click “MAX”. When ready, click “Continue”.
4. Review the risks associated with providing liquidity along with our terms and conditions. Click the checkbox and “Continue” to proceed.
5. Approve the FOX transaction. More information regarding why tokens need to be approved can be found here.
6. Wait for your FOX to be approved.
7. Confirm the amounts to supply and your acceptance of the gas fee.
8. In a few moments, your funds will be deposited into the pool.
Congratulations! You have successfully added funds to the liquidity pool!
Staking LP Tokens on Mobile
1. Go back to the Earn tab and click the "Stake Now" button in your "Active" opportunities. Be sure to select the one that says "Rewards start at July 5th, 2021 9am MDT".
2. Select the "WETH-FOX" Pool in the "Farming" section.
3. Make sure you have selected "Stake" at the top of the page. Also, select the amount of your LP tokens you want to stake. Press "Continue".
4. If all the information is correct, press "Confirm".
5. Approve the FOX transaction.
6. You will be shown a completion page once the transaction completes.
7. Congratulations! You have successfully staked your LP tokens. Make sure to check back in the "Farming" section to check on your rewards!
Adding liquidity and staking your FOX/ETH LP tokens on web:
1. Navigate to https://fox.shapeshift.com/fox-farming. Click “Connect Wallet” to begin. If your wallet is already connected, click “Provide Liquidity”.
2. Select a wallet from the list and login/connect.
3. For this example we used Portis. Click “Provide Liquidity on UNISwap” to proceed. Note that the APR percentage will change frequently. You may see a different percentage from the screenshots provided below.
4. Enter the amount of FOX you will be adding to the LP (Liquidity Pool). It will automatically calculate the ETH equivalent. Click “Supply”.
5. Confirm the amount of liquidity you will be adding by selecting “Confirm Supply”. Wait for confirmation.
6. That’s it! You’ve successfully added to the FOX liquidity pool and can now stake your LP Tokens.
Staking The LP Token
1. Once you have unstaked your LP Tokens from the old contract and your funds (ETH,FOX) still remain in the liquidity pool, the FOX Farming page will look like this:
1a. Under "Farming Opportunities" (ETH-FOX V2), select "Get Started" and then "Approve".
2. Click "Approve" again and confirm on your connected wallet.
3. Select “Stake Now”. Confirm on your wallet and after a few moments the transaction will confirm on chain.
4. Congratulations! You have successfully staked your FOX-ETH Tokens! You are now earning FOX every block!