We will soon be releasing our liquidity mining program for Method Finance and want to give a sneak peak of the experience. We’re using our liquidity mining program as a proof-of-concept to demonstrate the ease in which anyone can use the Method NFT Vault for their liquidity mining needs. While the underlying technology is different (leading to a safer/more secure rewards earning mechanism) the user experience is essentially the same.
Step 1: Provide liquidity to the MTHD-ETH pool on Uniswap
Before staking in the Method app to earn MTHD rewards, you need to deposit an equal pair of MTHD and ETH tokens into Uniswap. You can buy MTHD tokens on Uniswap here if you don’t have them already and you can add liquidity to Uniswap here.
Once you’ve added liquidity, you will receive the MTHD-ETH LP tokens in return. These LP tokens will be used to stake at https://app.methodfi.co/ to earn the MTHD token rewards.
Step 2: Navigate to the Method app
The first time you navigate to https://app.methodfi.co/, you can connect your MetaMask wallet by clicking the Connect Wallet button either in the top right or in the center of the app. If you don’t have a MetaMask wallet you can download the Chrome extension here.
Step 3: Mint (or buy) your Method NFT Vault
Once your wallet is connected, you can either see your already minted Method NFT Vault on the left side of the app, or now is when you can mint your Method NFT Vault. After clicking the Mint Method NFT button, you’ll see the MetaMask wallet pop open. The gas fees shouldn’t be more than $100, but this depends on the Ethereum network congestion. Alternatively, you can buy one on OpenSea here. The Method NFT Vault that you purchase will also show up on your Method app.
Each person who wants to stake to earn Method rewards, needs to stake to their Method NFT Vault in order to earn them, so this is one of the most important steps.
Step 4: MTHD-ETH LP Staking
Once your Method NFT Vault is minted and your MTHD-ETH LP tokens are in hand, you can now navigate to the MTHD-ETH LP Staking tab in the UI. This is where you can manage all aspects of your rewards.
One thing to note is that you’ll see a multiplier amount based on the Method NFT you hold. As a reminder, here is the multiplier depending on the Method NFT you hold
- Platinum = 2.5x multiplier
- Gold = 2x multiplier
- Mint = 1.5x multiplier
Choose how many LP tokens you want to stake (we recommend the maximum amount held in your wallet), and click the Stake LP tokens button.
One thing to highlight is that 50% of your rewards will be locked for 3 months. This is to make sure the community is invested in the project and we are set up for long term success.
We’re reaching the final stages of development to enable staking rewards so stay tuned for the Go-Live announcement. In one of our upcoming updates we will also include more information on our Airdrop rewards for Method NFT holders!