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How to stake in a vault
Our vaults require liquidity provider (LP) tokens from Pancakeswap.finance or similar another platform that our strategies use (such as WaultSwap or Nerve Finance) to be staked on our Eleven.finance site in order to work for you.
The first step is to ensure you have a web3 wallet connected to Binance Smart Chain (BSC). For a guide to connecting your Metamask wallet to BSC see this link, other BSC compatible wallet setup guides are also available through this link.
Following this adding liquidity to a token pair on the specified platform is required this is identified under the Vault name. For example the WEX-BNB vaults 'Uses WaultSwap'.
This vault 'Uses waultswap' and needs wLPs
For those vaults that 'Uses pancakeswap' a guide to completing this (as well as other great Pancakeswap documentation) can be found here.
Ensure you are adding liquidity to a pair that has a corresponding vault on Eleven.finance. The pair name will correspond with the tokens required, for example WEX-BNB wLP will require WEX and BNB tokens to be added to the WEX/BNB liquidity pair on WaultSwap.
Once you have added liquidity on WaultSwap you will have the corresponding wLP tokens in your wallet. If you go to Eleven.finance and connect your wallet but clicking the "Wallet" button in the top left column.
This will prompt a popup to chose the wallet you would like to connect to the site.
With your wallet connected to the site, scroll down to find the Vault you would like to add your WaultSwap wLP tokens to, in this case we look for WEX-BNB wLP Vault. You can also search for this using the search button or displaying the 'Wault' group in the dropdown filter row.
Here we can see our wallet holds 7.430673 WEX-BNB WaultSwap wLP tokens. Additionally the number on the right "80.24K APY%" shows the APY for this vault, and next to this the figure "1.85% APRD" is the daily APY. Please see here (LINK) for more details about APY and APR.
Next we want to approve Eleven.finance to spend our wLP tokens in order to stake them in the vault, if we select the row, it expands giving us more detail.
If we select the "Approve" button and confirm the transaction the button will then become the "Deposit".
Selecting the 'Deposit' button we are greeted with a pop-up where we chose or enter the amount of wLP tokens we would like to deposit and click "Deposit" or if we want to deposit all our tokens you can select "Max", in this example we will deposit all.
On confirming and completing this transaction our view will change to the following:
This now shows we have deposited our wLPs in the vault. We can see that we have deposited 7.430673 WEX-BNB wLP tokens into the vault. You will earn compounding wLP rewards. As compounds or harvests occur you will see the 'Deposited' number increase, reflecting your growing wLP position.
Last modified 6mo ago
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