Liquidity Providers
Guideline for providing liquidity to the Yup Protocol
Providing Liquidity on Polygon
Providing liquidity on Polygon is more or less the same as on Ethereum but with lucky for you there’s a few less steps few less stepsPre-requisite
****Have some WETH on Polygon for providing liquidity
Have some MATIC on Polygon for running transactions
Acquire YUP on Polygon by curating via the Yup Extension or purchasing some on Uniswap
If you have YUP and WETH on Polygon, go tohttps://app.uniswap.org/#/pool and switch to the Polygon network by clicking the “Ethereum” drop-down button in the top-right
Input an equal value of YUP and WETH in the pool and collect your YUP/WETH Uniswap LP token.
Go to app.yup.io/staking, select the Uniswap V3 on Polygon staking pool and enjoy life as a humble YUP farmer.
How to get MATIC on Polygon
Now that Yup is on Polygon you will need some MATIC to withdraw, deposit, or provide liquidity from your Yup account. (Basically, unless you plan to hodl YUP to ∞, you need MATIC.) MATIC is the native token of the Polygon network. It is the currency you will use to interact with the Polygon network. Just as you pay ETH gas to transact on Ethereum you pay a MATIC gas fee to transact on Polygon.
Some of you may already hold MATIC, but if you’re new to the low-fee wonderland of Polygon, here are our recommended ways to get some:
**Binance, FTX, OKX or other centralized exchanges with native MATIC (Does not require Polygon bridge)**Many centralized exchange other than Coinbase allow you to purchase native MATIC tokens directly without the Polygon Bridge (sweeet). If you’re signed up on one of these exchanges simply…
Simply purchase MATIC as you would any other token
Send to the Polygon address associated with your Yup account. It’s that easy.
Coinbase (requires Polygon bridge)
This option requires using the Polygon Bridge (a transfer between Polygon and Ethereum), so will cost you an extra Ethereum transaction fee. However, this is still probably the best option if Coinbase is your main crypto gateway.
Log in to Coinbase and search: “MATIC”.
Purchase at least 3 MATIC. These will cover your transaction costs on Polygon.
Send your MATIC to your new Yup account. (NOTE: Make sure there's enough Eth in your Yup account to cover the bridge fee based on current gas prices.)
Go to the Polygon Bridge and connect the wallet associated with your Yup account.
Hit “transfer’, confirm your transactions and boom! You’ve got MATIC on Polygon :)
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