How to create stkd-SCRT / SHD LP
Create stkd-SCRT / SHD LP Tokens
In this tutorial, learn how to create stkd-SCRT / SHD LP Tokens on SiennaSwap. These LP tokens will soon be usable with ShadeBonds - an exciting product built by Shade Protocol that is launching September 12th.
Terminology
The stkd-SCRT / SHD LP tokens utilize two tokens built by Shade Protocol:
stkd-SCRT: a privacy-preserving liquid staking derivative for the Secret Network $SCRT token. Fee stream accrues to the ShadeDAO.
SHD: the treasury and governance token of Shade Protocol, pronounced “shade”.
Requirements
~10 minutes
Keplr Wallet
sSCRT
For acquiring $SHD
Navigate here to convert SCRT —> sSCRT
SCRT
For gas
For minting stkd-SCRT
Steps
Mint stkd-SCRT
Acquire SHD
Mint stkd-SCRT / SHD LP Token (Sienna)
Deposit LP Token, Earn Rewards
Mint stkd-SCRT
(1) Navigate to https://app.shadeprotocol.io/staking-derivatives
(2) Create a stkd-SCRT viewing key
(3) Mint stkd-SCRT
After minting stkd-SCRT, your stkd-SCRT encrypted balance will also be viewable in your Keplr Wallet.
Acquire SHD
(1) Navigate to https://app.sienna.network/swap
(2) Select sSCRT
(3) Select SHD
(4) Input sSCRT that you will trade for SHD
(5) Swap
Mint stkd-SCRT / SHD LP Token (Sienna)
(1) Navigate to https://app.sienna.network/swap/pool
(2) Enter stkd-SCRT + SHD into Search for pair
(3) Select the stkd-SCRT + SHD LP Pair
(4) Input amounts that you’d like to liquidity provide.
(5) Approve stkd-SCRT
(6) Approve SHD
(7) Provide
Deposit Into Shade Bonds
As a final step, you can deposit your LP tokens into a Shade Bond to earn yield! Follow the tutorial below.
Shade Bonds: https://app.shadeprotocol.io/bonds
Conclusion
Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. These interconnected privacy-preserving DeFi products built on Secret Network will change DeFi as we know it — empowering the next generation of value creation and exchange. Shade Protocol is launching Silk: a privacy-preserving collateralized, reflexive stablecoin built on Secret Network.
But we can’t do this without community. We need you to join our community and help make Silk and Shade Protocol a reality.