Staking on Polygon Guide
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Note: If you are already a YUP-ETH liquidity provider tokens (known here as LPs) and are looking to migrate your LP tokens to polygon, read this instead: migration tutorial guide

Ethereum vs. Polygon

To maximize flexibility in depositing, withdrawing, and providing liquidity for YUP, we've opened a YUP-ETH liquidity pool on Ethereum and a YUP-ETH liquidity pool on Polygon. Which chain you choose mainly comes down to how much funds you want on Polygon, how active an LP you think you’ll be, and how much liquidity is in each pool.Let’s start with the first two factors.

If you want minimal funds on Polygon and want to take the "sit and chill" approach to providing liquidity, then Ethereum may be better, because you'll only have to hold enough MATIC to stake and withdraw your YUP-ETH LP tokens once.

If you're an active LP -- adding liquidity here, withdrawing liquidity there, and other shenanigans -- then Polygon may be preferable. This allows you to take advantage of lower fees.

Finally, LP rewards are split evenly between the Ethereum and Polygon pools - 50% of LP rewards will be distributed to each pool regardless of the amount of liquidity in them. Therefore you’ll want to consider what share of liquidity your funds will make up in the pool before diving in.

As always, this is not financial advice. Just giving you the lay of the land, kind stranger.

Providing Liquidity on Ethereum L1

If you’ve decided that being an LP on Ethereum suits you, here's where to begin.

Pre-requisite- Hold some ETH for providing liquidity and paying for transactions

  • Hold ≥ 0.5 MATIC for transactions, preferably ≥ 3 MATIC (Polygon)
  1. The first step in providing liquidity for Yup on Ethereum is acquiring YUP. This can be achieved by curating the web using the Yup Extension or app, or by purchasing some from the Uniswap YUP-ETH pool. If you want to provide liquidity on Ethereum and have earned or purchased YUP on Polygon, you must bridge your tokens to Ethereum using the polygon bridge (see polygon bridge guide)
  2. Once you have YUP on Ethereum, go to the YUP-ETH pool on Uniswap .
  1. Input an equal value of YUP and ETH into the pool and collect your YUP-ETH Uniswap LP token. You now have your golden ticket to start earning YUP.
  1. Go to the Polygon Bridge and connect the wallet that holds your YUP-ETH token.
  1. Search for "YUP-ETH" under token and select the amount you want to send (probably max).
  1. Hit "Transfer". Approve and confirm your transaction and bada-bing-bada-boom, your LP tokens are on Polygon!
  2. Finally go to app.yup.io/staking, find the Uniswap V2 on Ethereum staking pool, hit “Stake” and Congratufrickinlations, you’re earning YUP on Polygon!

Providing Liquidity on Polygon

Providing liquidity on Polygon is more or less the same as on Ethereum but lucky for you there’s a few less steps.Pre-requisite

  • ****Have some ETH on Polygon for providing liquidity.
  • Hold ≥ 0.5 MATIC for transactions, preferably ≥ 3 MATIC (Polygon).
  1. Acquire YUP on Polygon by curating via the Yup Extension or purchasing some on Quickswap.
  2. If you have YUP and ETH on Polygon, go to YUP-ETH pool on Quickswap.

3. Input an equal value of YUP and ETH in the pool and collect your YUP-ETH Quickswap LP token.

4. Go to app.yup.io/staking, select the Quickswap on Polygon staking pool and enjoy life as a humble YUP farmer.

How to get MATIC on Polygon

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:

**Binance, FTX, OKX or other centralized exchanges with native MATIC (Does not require Polygon bridge)**Many centralized exchange other than Coinbase allow you to purchase native MATIC tokens directly without the Polygon Bridge (sweeet). If you’re signed up on one of these exchanges simply…

  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.

Coinbase (requires Polygon bridge)

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.

5. Under token, search “MATIC”.

6. Hit “transfer’, confirm your transactions and boom! You’ve got MATIC on Polygon :)

Ethereum Address
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