This article demonstrates how to stake crypto into SafePal Earn and earn passive yieldings from your crypto holdings.
About SafePal Earn: SafePal Earn is a stake-to-earn feature built within the SafePal App to help users earn the most out of the crypto holdings. To use SafePal Earn, please upgrade your SafePal App above V2.9.0 first.
This article covers the following steps:
- How to create LP tokes in te SafePal App
- How to claim the earned yieldings from SafePal Earn
- How to withdraw the deposited LP token from SafePal Earn
Step 1 Select a pool
Open SafePal App and click the Earn tab at the bottom. Here you can view all the available pools in SafePal Earn. You can sort them based on popularity, APY, and TVL, or filter by network, protocol, and type.
Step 2 Enable the LP tokens
Once you have decided which pool to join, click on it to enter the staking interface. In this article, we will use the BNB-SFP from PancakeSwap as an example.
Press ‘Enable LP’ to authorize the staking of the LP token. On the approval page, choose the gas fee level and verify the details, then sign it.
- An additional gas fee will be charged by the network when approving the contract.
- Since PancakeSwap and ApeSwap are smart contracts built on BSC (Binance Smart Chain), please make sure that you have sufficient BNB (BEP20) as the native network fee for the staking process on the protocols.
If you are an SFP holder, you can also stake SFP to earn a higher APY from the pool. To stake SFP into the pool, click ‘Enable SFP’ and sign the approval.
Step 3 Deposit LP tokens
Once you have enabled the tokens for the pool, press ‘Deposit’.
On the Deposit interface, input the amount of LP tokens you would like to stake. If you do not have any BNB-SFP token, click ‘Get LP’ to create the LP token in the SafePal LP Center. Detailed instructions on how to get LP tokens from the SafePal LP Center can be found here.
If you are holding SFP, you can also choose to stake SFP into the pool for a higher APY. To do so, input the amount of SFP token you would like to stake. If you do not have enough SFP tokens, click ‘Get SFP’ to exchange for some SFP tokens from SafePal Swap. Detailed instructions on how to use SafePal Swap can be found here.
- The SFP staking is optional. If you don’t want to stake any SFP, it will not impact your normal staking process of the pools or your yieldings from the LP tokens. Staking SFP helps you to earn additional yieldings from the pool.
- You can stake $SFP to earn $SFP for a higher profit rate.
Once you are done, press ‘Deposit’.
Step 4 Complete
Congratulations! You have successfully staked crypto assets into SafePal Earn. To view the latest yieldings, pull down the App page and refresh.