After liquid staking your assets on Stride and acquiring stTokens, you may want to deploy your stTokens in the Defi universe.
Astroport is a decentralized Automated Market Maker (AMM) platform that facilitates swaps in a non-custodial manner. Users, including liquidity providers (LPs), can access various pool types within a single AMM system, enabling permissionless token trading. Recently, Astroport introduced permissionless incentives for liquidity pools, streamlining the process for users to contribute incentives to pools of their choice.
Several of Stride’s LSTs are listed on Astroport as assets that can be used to provide liquidity, including some of our newest stTokens such as stTIA and stDYDX.
This guide will walk you through how to add liquidity to the pools on Neutron’s Astroport using stDYDX. At this time, this asset is eligible for Stride’s airdrop. You can read more details about the airdrop to stDYDX holders in our blog here.
- Transfer funds from Stride to the Neutron blockchain
- One of the simple and proven bridges is https://ibc.fun/, allowing you to send direct IBC transfers across chains (and swap tokens as needed).
- Connect your wallet.
- You will have the option to provide liquidity using either one or two assets, so in case you wish to provide double sided liquidity, you can bring both DYDX and stDYDX to the Neutron chain. In this case, you can start by sending DYDX to Neutron. Select the Network and denomination of the token and send it to the Neutron blockchain.
d. We confirm and wait for a successful transfer.
Follow the same procedure for moving your stDYDX to the Neutron chain. If you just liquid staked on Stride, your tokens will be on the Stride chain.
Note: You will need to have a few STRD tokens to pay gas fees. It is advisable to have at least 0.5 NTRN tokens in your wallet for future payment of fees when transacting directly on Astroport.
- Navigating Astroport and Providing Liquidity
- Visit https://neutron.astroport.fi/pools and connect your wallet. In the top right corner, you will see the network showing “Neutron” - leave this as is. We will use a Keplr wallet for the duration of this guide.
- In the search tab, enter stDYDX and select the pool you wish to provide liquidity for. Select the “Add Liquidity” button.
- When you go to the pool, you can choose 1 of 2 options:
- Double sided - his means you would provide liquidity using both DYDX and stDYDX to each side of the pool
- One sided - this means you will add just one asset, for example stDYDX only, to the liquidity pool
You can also adjust the slippage at this time.
One sided liquidity:
Toggle between the two assets in the pool. Select the asset you wish to LP (to be eligible for the Stride airdrop via your Astroport position, you will need to select stDYDX for this).
Double sided liquidity:
Adjust the amount you wish to add to the liquidity pool. The second asset in the pair will be adjusted automatically as it balances. Click “Add Liquidity” and complete the transaction in your wallet.
To complete the transaction, you will need a small positive balance of NTRN on chain so that you may pay for gas fees. However, there is the option to change the commission fee token and use a different available token instead.
After a successful transaction, on the pools page in the My pools section, you can see your contribution to the pool displayed. By clicking on the Manage button, you will see the options to provide more to, withdraw from, or incentivize the pool.
Congratulations! Now your stDYDX funds have been successfully added to the liquidity pool on Astroport, and you are now eligible to receive rewards from the Stride airdrop.
