LP Staking
Updated over a week ago

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LP staking is the first DeFi interchain product deployed within the Waves blockchain network. Staked USDT cryptoassets are accumulated in the Waves blockchain, and then proxied into the DeFi products of the Ethereum ecosystem. Staked USDTs are governed by an open-source public smart contract. This makes all transactions transparent. You can always audit the smart contract on your own and make sure it is safe and reliable.

While transferring, for example, USDT to staking, you are supposed to receive an LP asset - USDTLP. The LP asset is a guarantee that your staked assets are transferred to the staking smart contract. You can withdraw staked assets from staking at any time and receive your accumulated income. When you withdraw assets from the staking, your LP asset is exchanged for staked assets at the new higher rate. The difference between the LP asset rate when you stake and the increased rate when you unstake is your income. This difference can only be positive, as the smart contract ensures that the value of LP asset never falls. The LP asset value is calculated using the formula.

Important: The process of unstaking your USDT cryptoassets takes 20 160 blocks (about 2 weeks).

How to invest assets in LP staking

Open Waves.Exchange and sign in to your account. Then click on the Investments button and select, for example, the USDT in the LP Staking field.

Being navigated to the LP staking tab, press the Stake --- button:

In the following appeared window you should enter the amount of funds you want to stake in the "I send" field

The "I receive" field will display the LP asset amount you will receive in return for your staked assets. This amount is equal to the amount you invested. After that, read the Terms and Conditions of LP staking withdrawal, then confirm the "I agree" checkbox and click the "Stake ---" button.

How to withdraw funds from LP Staking

Open Waves.Exchange and sign in to your account. Then click on the Investments button and select, for example, the USDT in the LP Staking field.

In the USDT staking tab, click the Unstake --- button:

In the appeared pop-up window, fill in the amount of LP assets in the I send field. The amount of staked assets you withdraw from staking will appear in the I receive field. After that, read the conditions for withdrawing assets from the staking, then check the I understand checkbox and click the Unstake --- button.

Important: The process of withdrawing assets from the LP staking takes 20 160 blocks (about 2 weeks).

After that, the staking withdrawal transaction will appear in the Staking Transactions field.

In the field of this transaction, there is a timer. After this period of time, you will need to click on the "Get ---" button in order to claim invested assets, so they will be credited to your account balance.

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tags*: lp usdt usdc east eth btc invest passive income

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