Open in app

Sign in

Write

Sign in

nuco.cloud UNI-V2 Liquidity Staking Guide — November 2023

Nuco Cloud
7 min readNov 5, 2023

Learn more about nuco.cloud´s Liquidity Staking using UNI-V2!

On Sunday, November 5, 2023, at 14.00 UTC, we will launch THREE nuco.cloud UNI-V2 Liquidity Staking Pools in partnership with Ferrum Network.

See here below for details:

The nuco.cloud Liquidity Staking Pools (November 2023):

The terms of the three nuco.cloud Liquidity Staking pools (rewards, lengths, minimum contribution, etc.) are detailed below:

1. LP Short Term Pool:

2. LP Medium Term Pool:

3. LP Long Term Pool:

Requirements for Staking

Please note the following requirements:

MetaMask: NCDT Liquidity Staking requires the ERC-20 wallet extension MetaMask, which will automatically link to our staking contracts. This wallet will be used to contribute your token to the liquidity pool. It will also be used to distribute staking rewards upon withdrawal.

How to become an LP (Liquidity provider)

1. Download MetaMask here:

https://metamask.io/

Only use this link to the official MetaMask page!!

2. Create a new wallet or add your existing MyCrypto or Ledger wallet

Create a new wallet in MetaMask or add your existing wallet.

We recommend using a Ledger or something similar.

Importing an existing wallet into MetaMask:

Ledger:

To integrate an already existing Ledger wallet into MetaMask, please follow the steps described here: https://metamask.zendesk.com/hc/en-us/articles/360020394612-How-to-connect-a-Trezor-or-Ledger-Hardware-Wallet

MyCrypto:

To integrate an already existing MyCrypto wallet into MetaMask, please follow the steps described here: https://github.com/MyCryptoHQ/support.mycrypto.com/blob/master/src/content/accessing-your-wallet/how-to-use-metamask-with-mycrypto.md

3. Add NCDT and UNI-V2 Token to MetaMask.

Click on “Assets”. Scroll down and click “Add Token” switch to “Custom Token” and enter the NCDT token address in the token search fields.

NCDT: 0xe0c8b298db4cffe05d1bea0bb1ba414522b33c1b

4. Add UNI-V2 Token to Metamask

Now the same for UNI-V2 Token: 0x1921b852f38bc68430780242b2628d0ca14cef83

It should now look like this:

5. Transfer Funds (ETH and NCDT) to your MetaMask Wallet

Transfer the same value in ETH (counted in FIAT like EUR or USD) to your MetaMask wallet, like the amount of NCDT (also counted in FIAT like EUR or USD) that you want to put into the Liquidity Pool for staking.

It has to be the same value in FIAT. For example: 1000 EUR or USD in ETH and 1000 EUR or USD in NCDT.

Uniswap will otherwise allow the lower amount. If you put in 500 EUR or USD and 1000 EUR or USD in NCDT, Uniswap will allow 500 EUR or USD.

We prefer to add more ETH than NCDT (counted in FIAT like EUR or USD) to cover the ETH fees.

6. Connect your MetaMask Wallet to Uniswap

Go to https://app.uniswap.org/ and click on “Connect Wallet”

7. Add Liquidity to Uniswap:

Go to the Liquidity Pool at Uniswap (Direct Link: https://app.uniswap.org/#/add/v2/ETH/0xE0C8b298db4cfFE05d1bEA0bb1BA414522B33C1B?chain=mainnet)

and add the liquidity you want to put into the Liquidity Pool. Now press “Enter an amount”

Please make sure you have a little more ETH than NCDT (in Euro value) in your wallet, as fees need to be paid to the ETH Blockchain.

If you use a Ledger, you now have to confirm this on the Ledger. Similar to when you would make a transaction. If you use only one phrase or private key, you must confirm with them.

You may see “Approving NCDT” displayed in the Uniswap window until the process is complete. Here, you have to wait until it only says “Supply” and then on “Confirm Supply”

If you get an error message “Contract Data not allowed” or “Blind signing not allowed” when using the Ledger, please open the ETH app on the Ledger and set “Contract Data” or “Blind signing” to “allowed”.

By adding liquidity, you’ll earn 0.3% of all trades on this pair, proportional to your pool share. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity.

You will receive UNI-V2 Token for adding Liquidity, which has to be exchanged to NCDT after the Staking Period described in point 8.7.

8. Start Staking:

8.1 Go to our staking page (Direct Link: https://nuco.cloud/staking) and click on “Start Staking” (when it opens on November 5, 2023, 14.00 UTC)

8.2 Select our Liquidity Staking Pool and press “Stake”

8.3 This will take you to the following page:

8.4 Authorize your MetaMask to be connected to the staking smart contract by clicking on “Connect” (in the upper right corner). Then, choose your MetaMask wallet.

CAUTION:

DO NOT DIRECTLY SEND UNI-V2 TOKENS TO THE STAKING CONTRACT. ONLY USE THE PROVIDED USER INTERFACE!

ANY TOKEN SENT DIRECTLY MIGHT BE LOST!

8.5 After exploring the pool page and you are ready to stake, press “Stake now”

8.6 Next, input the Uni-V2 Tokens you wish to stake previously received from point 7. This page will show you the maximum amount you could stake.

8.7 Click on “Stake” and MetaMask will pop up. Allow MetaMask to spend your UNI-V2 (i.e., send your UNI-V2 Tokens to the staking contract) and press “confirm”. You will have to confirm this again with your Ledger or Phrase or Private Key.

Notice:

This is to get the reward in NCDT after the pool runtime.

Please confirm whether the amount is correct and approve the allocation. Please note that you will receive two requests to confirm on MetaMask after you click on Stake.

IMPORTANT NOTE ON TRANSACTION FEES:

You can edit the Ethereum Network gas fee in MetaMask by pressing “edit” and choosing a custom gas fee. Note that lower fees have slower transaction times.

9. How to unstake and get your NCDT Token

9.1 Unstaking:

9.1.1 Go to the staking page again (Direct Link: https://nuco.cloud/staking/)

9.1.2 Click on “Un-Stake” to receive your UNI-V2 Token in your MetaMask wallet (you will also receive your Rewards in NCDT based on the APY %) and

9.1.3 Then go back to https://nuco.cloud/staking and click on “Start staking” to join the new staking pools later in 2024. Insert your UNI-V2 tokens from the first staking pool here again.

9.2 If you want to remove your Liquidity

9.2.1 Go back to Uniswap (Direct Link: https://app.uniswap.org/#/remove/v2/ETH/0xE0C8b298db4cfFE05d1bEA0bb1BA414522B33C1B?chain=mainnet)

9.2.2 Sell your UNI-V2 token by selecting “Remove” to receive your ETH and NCDT plus your Staking Rewards in your MetaMask wallet.

Depending on the pool, you have the option of withdrawing the stakes and exiting early. Please refer to the pool overview above for the respective dates. Please note that the staking reward will only be 5% APY if you withdraw early..

To get the full reward in NCDT you should NOT do an early withdrawal.

General Overview of NCDT Staking

To understand critical concepts such as staking pools, early withdraws, and redistributed rewards, please refer to our Liquidity Staking Overview.

Risks:

Please read the following article to assess potential risks. Participation in Staking is at your own risk:

Understanding Returns | Uniswap

Uniswap incentivizes users to add liquidity to trading pools by rewarding providers with the fees generated when other…docs.uniswap.org

Uniswap: A Good Deal for Liquidity Providers?

What is Uniswap?pintail.medium.com

Follow us:

Staking
Uniswap
Cloud Computing
Cryptocurrency
Defi

--

--

Nuco Cloud

Written by Nuco Cloud

47 Followers

Nuco.cloud is a sharing economy platform for network computing based on BOINC

Help

Status

About

Careers

Blog

Privacy

Terms

Text to speech

Teams