How to use LCRO/LATOM on Ferro to earn rewards
Last updated
Last updated
Ferro is the official DEX to provide LCRO-CRO and LATOM-ATOM pool where users can swap between the tokens with ease, add liquidity to earn fees, and stake liquidity to earn additional incentives.
Using CRO Staking as an example:
After staking CRO, you will receive LCRO which is the token receipt of liquid staked CRO.
Step 1: Navigate to the Use LCRO section, which is located on the Staking page. On this tab, you will find Ferro listed in a card. Click Add liquidity to be directed to Ferro.
Step 2: Input the amount of tokens that you would like to add to the LCRO-CRO pool. You can choose to either provide liquidity in LCRO, CRO or both tokens. Then, review the details and click Add Liquidity to proceed.
If you would like to know more about Ferro liquidity pools, please refer to this page for details.
Step 3: Click Confirm to initiate the transaction request.
Step 4: Confirm the transaction on your wallet.
Step 5: Once you have received the confirmation, you have successfully become a liquidity provider in this pool. You could scroll down to My Liquidity to view information including your share of the pool, the total amount provided as well as pool info.
After getting LP tokens by adding liquidity, you can also choose to stake your LP tokens to earn additional yields.
Step 1: Enter the amount of LP tokens that you want to stake. Click Stake to proceed.
Step 2: Review the transaction and click Confirm to initiate a wallet transaction request.
Step 3: Make sure that the details are correct on your wallet and click confirm.
Step 4: Once you have received the confirmation on the platform, you have staked your LP token! You may view your staked balance in the Unstake section.
