Guideline for providing liquidity to the Yup Protocol
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
- 3.Input an equal value of YUP and WETH in the pool and collect your YUP/WETH Uniswap LP token.
- 4.Go to app.yup.io/staking, select the Uniswap V3 on Polygon staking pool and enjoy life as a humble YUP farmer.
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:
- 1.Simply purchase MATIC as you would any other token
- 2.Send to the Polygon address associated with your Yup account. It’s that easy.
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.
- 1.Log in to Coinbase and search: “MATIC”.
- 2.Purchase at least 3 MATIC. These will cover your transaction costs on Polygon.
- 3.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.)
- 4.Go to the Polygon Bridge and connect the wallet associated with your Yup account.
- 6.Hit “transfer’, confirm your transactions and boom! You’ve got MATIC on Polygon :)