Add PEN/DOT Liquidity to StellaSwap

Watch below for the video tutorial or read on for the written guide.

To become a PEN/DOT liquidity provider on Stellaswap DEX on Moonbeam and earn yield plus PEN and STELLA rewards, follow these simple steps.

Step-by-Step Guide to Providing Liquidity on Stellaswap

1. Get PEN

If you already have PEN >> skip to step 2.

From centralized exchange MEXC

Signup with MEXC and purchase Pendulum (step-by-step guide) Withdraw your PEN tokens to your Pendulum address. If you need help setting up your Polkadot/Pendulum wallet, check out our docs.

From decentralized exchange (DEX)

You can swap a variety of Polkadot native assets (e.g. DOT, USDT, USDC) for PEN tokens using the Stellaswap trading UI on Moonbeam. To bring your Polkadot assets to Moonbeam, you can use the Cross-chain transfer UI from Stellaswap.

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2. Get DOT

From Centralized exchange

To obtain Polkadot native DOT you can visit one of these major CEXes it is listed on. Options include Binance, kraken, Coinbase and more.

From Decentralized exchange (DEX)

DOT can be purchased on a number of decentralized exchanges, including Stellaswap, Zenlink and HydraDX (see dapp list) using the Stellaswap cross-chain swap feature you can trade a variety of assets from Ethereum or other Blockchains for DOT on Moonbeam (xcDOT) with one click.

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3. Get GLMR

GLMR serves as gas for transactions on Moonbeam.

From Centralized exchange

To obtain GLMR, you can use any of the CEXes it is available on. After purchase, withdraw them to your Moonbeam EVM address that you will use for providing liquidity.

From Decentralized exchange (DEX)

You can obtain GLMR by visiting the Gas Swap option on Stellaswap and swap a variety of EVM assets or native Polkadot DOT into GLMR.

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4. Deposit DOT and PEN on Moonbeam

Bridge assets that are tradeable on Stellaswap to the Moonbeam blockchain. Conveniently use the XCM transfer tool to transfer PEN and DOT to Moonbeam via the Stellaswap UI. The assets on Moonbeam are labeled as xcPEN and xcDOT. For this transfer you will connect both your polkadot wallet (Subwallet, Talisman etc) and your EVM wallet (Metamask etc).

Use Stellaswap’s swap feature to exchange xcPEN for xcDOT and vice versa for portfolio balancing and preparing your liquidity pool position.

xcPEN contract address: 0xffFFfFFf2257622F345E1ACDe0D4f46D7d1D77D0 xcDOT contract address: 0xFfFFfFff1FcaCBd218EDc0EbA20Fc2308C778080

Note: You will need to import these tokens to your EVM wallet (Metamask etc) UI to display them in your wallet.

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5. Provide PEN/DOT Liquidity

Once you have sufficient DOT and PEN find “Pool” in the navigation menu. Choose the pair “PEN/DOT” and click “Deposit”. Or simply click here. Experienced liquidity providers have the option to select ‘Expert’ range and edit the desired price range to optimize your fees. Newer liquidity providers can consider choosing a wider range like ‘Full Range’ to lower your risk. Enter the amount of PEN and DOT you want to add as liquidity and confirm the transaction.

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6. Farm rewards

Early liquidity providers will be rewarded with PEN and STELLA tokens for a liquidity mining period of 3 months on top of their yield from trading fees. Stellaswap will issue an NFT to represent your LP position. Click on your position and click ‘Farm Now’ then ‘Deposit’. Note, this step is crucial to activate your position for farming rewards. You will automatically be eligible to claim trading fee rewards without completing this step.