Highlighted topics:

- What is LP Staking

- How to invest assets in LP staking

- How to withdraw funds from LP Staking

What is LP Staking

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 - USDLP. 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 at the moment of transferring to staking and the increased rate at the moment when you take assets and staking 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).

Note: at the moment, LP staking is only available in the web and desktop versions of the Waves.Exchange. LP Staking will appear in mobile apps soon.

How to invest assets in LP staking

Open the WX Invest app and sign in to your account. Then navigate to the Investments tab and click on the LP Staking panel.

Next, choose the asset you want to invest in (for example, USDT).

Being navigated to the USDT LP Staking tab, click on the Stake button:

In the following appeared form 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 with rules" checkbox and click the "Stake ---" button.

After that, your investment transaction will appear in the USDT Staking Transactions tab.

How to withdraw funds from LP Staking

Open the WX Invest app and sign in to your account. Then navigate to the Investments tab and click on the LP Staking panel.

Next, choose the asset you want to withdraw from LP Staking (for example, USDT).

Being navigated to the USDT LP Staking tab, click on the Unstake button:

In the appeared form, enter 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 withdrawal transaction will appear in the Staking Transactions field (click More in the Staking Transactions area).

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.


If you have any questions related to Waves.Exchange ecosystem, you can contact our Customer Service 24/7!

Did this answer your question?