Liquidity Mining — How-To Guide
This week, we launched our first Liquidity Mining Program with great success in collaboration with Orca. As we already gave an introduction to the program in this article, we now follow up with a how-to guide! We created this step-by-step to make this program accessible for everyone. As we said before, this is your chance to support the Nova ecosystem and help it grow!
Preparation
- A Solana web3 wallet: https://phantom.app/ https://solflare.com/ or others
- Make sure you own either Nova token or USDC stablecoin within your web3 wallet
You can buy Nova on Ascendex, Serum, and the new Orca pool itself: https://www.orca.so/?input=USDC&output=NOVA
Note: Orca requires a 50/50 split of Nova and USDC to deposit into the pool. If you don’t have a 50/50 split, don’t worry because they have an auto swap tool later on in the process
- Access to https://www.orca.so/
Steps
- Go to https://www.orca.so/pools and make sure your wallet is connected. If your wallet isn’t connected, you’ll be able to press the “Connect Wallet” button on the page:
2. Scroll down and type “NOVA” into the search bar, Nova will appear at the top Click the “Deposit” button in yellow.
3. You’re now presented with the deposit interface. Enter the amounts of each token you would like to deposit. Make sure to tick “verify” box at the bottom. If you are unsure of the risks around liquidity mining, make sure to read the resources that orca link on the tickbox.
Note: Orca requires a 50/50 even split of assets to deposit. If you don’t have the right quantities, click the “Auto-swap uneven amounts” button and Orca will take care of it for you automatically!
4. Hit the “Deposit” button. Your web 3 wallet will now pop up asking you to authorize the deposit process. Sometimes there might be a few approvals required.
Once the deposit is complete, you will see the following notification in the top right corner:
5. To claim rewards, go to the “Double-Dip” page:
6. Find Nova, it may be at the top of your page but you might need to scroll. If you are clever, you can ctrl+f and keyword search “Nova” quickly to find it. If you have completed the deposit correctly, the “Double Dip” button will be highlighted yellow.
7. Press the “Double-Dip” button. Your web 3 wallet will now pop up asking you to authorize the deposit process. Sometimes there might be a few approvals required. Once the deposit is complete, you will see the following notification in the top right corner:
8. Congratulations! You have successfully provided liquidity to Nova and started earning Nova rewards! At the top of the double-dip page, you should now see Nova in your staking summary box.
If you want to claim your rewards, press the “Harvest” button and approve with your wallet.
If you need to withdraw, you can press the “Harvest & Undip” and follow that process.
About Nova Finance
Nova is a programmable asset framework that allows people to access DeFi without having to learn complex financial management skills. Within the product, users can create a portfolio of assets that auto-generate returns through yield strategies while auto-executing on investment strategies such as dollar-cost averaging, take profit calls and much more.
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