In this guide, we'll go through how to earn ARC rewards by creating a vault, minting LINKUSD and providing liquidity to the Curve LINKUSD Pool.
- Pool 4 is now open to all KYF verified users
- Pool 4 rewards will run until October 30, 2020 at approximately 1am UTC
- The maximum staking amount is 2,000 LinkUSD3CRV
- You must keep your vault open until January 15th, 2021 in order to secure your ARC rewards from Pool 4
Firstly, some important concepts:
Vault (also known as a debt position): An open position where LINK has been staked in order in mint LINKUSD. You can view your vault (and all vaults) at https://arcx.money/vaults
Debt requirement: the minimum amount of your vault (denominated in LINKUSD) that you must keep open until the debt deadline, in order to secure your ARC rewards. For Pool 4, you need to keep a vault open of at least 50% of the value of pool tokens that you stake.
Debt deadline: the end of the period that you need to keep your vault open, in order to claim rewards in a pool. You can always close your vault and recover your collateral at any time, but if you close it before the debt deadline, you risk losing your rewards for that pool. The debt deadline for Pool 4 is January 15th, 2021 - make sure you meet the debt requirement until then.
ARC Pool 4 is only open to KYFv1 and KYFv2 users. Do not attempt to stake unless you are KYFv1 or KYFv2 verified.
Step 1: Open a vault
Go to https://arcx.money/create to create a vault. You can skip this step if you already have a vault open.
You will need
- A Web3 wallet (e.g. metamask)
- Enough LINK in your wallet to open a vault. The minimum required collateral ratio is 300% but we recommend 500% to be safe. E.g. you have $1,000 worth of LINK and you mint $200 LINKUSD
- Connect your wallet
- Use the slider to select the amount of LINKUSD debt you want to mint
- Choose ‘Press to Mint’ and confirm the transactions in your Web3 wallet
For more info, refer to this video about how to mint debt on ARC
Step 2: Add Liquidity to the Curve LINKUSD pool
Now that you have some LINKUSD in your wallet, head over to https://www.curve.fi/linkusd to add liquidity to the LINKUSD Pool
You will need
- The LINKUSD that you minted in Step 1 (you can stake with less but will be eligible for less rewards)
- (Recommended) Some amount of USDC, USDT and DAI. The LINKUSD pool attempts to keep equal balances of all assets by providing more LP tokens to users who add the assets that are undersupplied. This incentivizes users to return the pool to balance. You can earn more LP tokens by supplying assets in the correct proportions. It is recommended to check ‘Add all coins in a balanced proportion’
- Input the amount of LINKUSD that you want to add
- (Strongly Recommended) Check the estimated number of LP tokens that you will receive. You will usually receive more LP tokens if you deposit other assets too - refer to example A and example B below. You may incur slippage if you only deposit LINKUSD tokens
- Choose Deposit and confirm the transactions in your Web3 wallet
Example A: Adding LINKUSD only
As you can see in this example, adding 1,000 LINKUSD will return a minimum of 974.18 LP tokens.
Example B: Adding LINKUSD, DAI, USDC and USDT in proportion
As you can see in this example, adding all tokens in proportion will return more LP tokens, a minimum of 989.11
Step 3: Stake your LINKUSD3CRV pool tokens
You will need
- The LinkUSD3CRV that you received in Step 2
- Go to https://arcx.money/staking
- Enter the amount of LinkUSD3CRV that you want to stake and click 'press to stake'. The maximum amount for Pool 4 is 2,000 LinkUSD3CRV
- Read the Confirmation terms and if you agree, click 'I understand/stake' and confirm the transactions in your wallet
Confirmation Step - make sure you read the rules!
Once you have successfully completed all of the above steps, you will see a confirmation that looks like the following:
Take note of your Staked Balance and Debt Requirement