As announced in the previous news, we just launched a dApp that rewards liquidity providers to our pool on Uniswap. In order to be able to use the dApp effectively, we thought of making an easy tutorial that will explain how liquidity is added on Uniswap and how to use the dApp afterwards.
STEP 1: ADDING TO UNISWAP LIQUIDITY POOL
Skip this step and proceed to step 2 if you’ve already added to CHESS pool on Uniswap.
- Go to https://uniswap.exchange and click on “Pool” as seen in the image below
- Click on “Join a pool”
- In the search box, enter “CHESS” or just search using the contract address 0x5f75112bBB4E1aF516fBE3e21528C63DA2B6a1A5
- Then click on “Join” in front of the CHESS/ETH pair.
- Enter the amount of CHESS you want to add to the pool. Note that the dApp automatically inputs the corresponding amount of ETH required (based on estimated current price) in order to add to the pool successfully.
- Click on “Approve CHESS” (if it’s the first time you are interacting with the token on Uniswap). Click on “Supply” after that.
- After the transaction is successful, your ETH and CHESS moves to uniswap while you get a UNI-V2 token in return. This represents your quota of the total WBOMB/ETH pool.
STEP 2: STAKE YOUR UNISWAP QUOTA IN THE CHESS/ETH POOL.
Don’t get confused, this simply means you earn reward for contributing to CHESS liquidity pool on uniswap.
- Visit https://stake.brainiacchess.network
- Click on your balance UNI-V2 as shown in the image below. This will automatically enter all your UNI-V2 tokens in the space provided. You can also enter it manually if you want to stake part of your quota.
- Enter the amount of months you want to stake for. This means you have to keep your liquidity pool on uniswap until the period elapses otherwise you receive no reward.
- Your expected reward (in CHESS) will be shown in the place marked in the image below.
- Click on “Stake” and wait for the transaction to be successful.
- After successfully staking, a countdown timer will display on your dashboard showing when your stake will expire.
- All these operations can be performed from any web3 enabled browser. This means you can either use from a desktop or mobile wallets such as Trustwallet.
We hope this guide is explanatory enough. For further questions, feel free to interact with us on Telegram.
Happy Pooling! Happy Staking!!