How to get "LP-SSCRT-SEFI"?

In this page: “𝕊ecret Bridge”, I saw that “LP-SSCRT-SEFI” is yielding at a rate of 357% annually.

How do I swap into this particular token?

Any documentation to read up?

Thanks!

Hi Mate,

All you have to do is to go the SWAP page, select PROVIDE and provide liquidity to the desired pair, in this case sSCRT and SEFI:

It always goes 50-50 in terms of how much of a token you have to deposit. In this case you put 0.048553 sSCRT for each 1 SEFI, as you can observe on the “Price” section.

Click Provide, pay medium to high fees.

This will come up right corner of the webpage: image

Next you go back to to the SeFi page:

Now see how you have 134.536203 LP-sSCRT-SEFI available to deposit for farming,
Easy way is click on 100% to fill the box, next press the small box called Earn, pay the fees, and voila you are all set and getting your juicy SEFI.

Cheers!

Thanks!

I’ve got further questions:

I notice that it’ll become converted into LP-sSCRT-SEFI (in your example, it is 134.536203).

  • How is this calculated? What is the formula?
  • What is the value of this against USD? (Is there even a value, since sSCRT and SEFI are independent?)
  • When we convert back into sSCRT and SEFI, will we get back the same ratio (of 50/50)?

I need clarifications about understanding the LP-sSCRT-SEFI rate.

Thanks!

I am really surprised you ended up with Secret before learning about Uniswap hehe!

You want to look for this terms: Automated Market Maker, Liquidity Pools, Impermanent Loss.

There is plenty of information out there that can help you clarify your questions.

Quick answers:
Value of the LP is the intrinsic value of the underlying tokens, however the LP token might not be traded and therefore there is no visible price on the market, but rest assured its the value of the tokens locked, because after all, you can redeem the LP for the tokens you added in the first place.

You will very highly unlikely get the same amount of tokens, price fluctuations can make it 55/45… 40/60…

Just read about those terms I mentioned above.

Cheers

Cheers!

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