wstETH strategies deposit guide
Tamper and Pulse strategies
Last updated
Tamper and Pulse strategies
Last updated
1) Go to https://app.mellow.finance/products. Connect your wallet, and be sure you're connected to Mainnet. In the list of strategies, choose any strategy working with wstETH (Tamper or Pulse, you can filter assets).
2) Choose the "Deposit" option in the page of the strategy
3) You'll see the following page here. The most convenient way is to choose the "Deposit and stake" option so that you'll stake your Mellow LP tokens automatically (you'll start getting the additional APR from LIDO rewards) after the deposit and you don't have to stake them manually.
4) The deposit has 4 steps. The first three steps are simply approving your tokens (WETH and WSTETH for the deposit and future Mellow LP tokens for staking). Then, after you approve your tokens, you'll have to choose the amount of WSTETH or WETH you want to deposit. The strategy will automatically determine the amount of another token you also have to deposit. For example, depositing 1 WSTETH at the moment of writing this, one should also deposit about 2.038 WETH (as you see, the proportion is not necessarily 50:50)
5) After you have determined the amounts of tokens you want to deposit, if you already have these tokens, you simply go the 4th step and enjoy your tokens deposited & getting APR. Here's a guide on how to obtain WETH and WSTETH if you don't have them at once:
For getting WETH, you may go to Uniswap V3 (https://app.uniswap.org/#/swap) and choose the wrap option (tokens are wrapped 1:1)
For getting WSTETH, there are two general ways (at some moments, each of them might be cheaper)
Go to Lido (https://stake.lido.fi/wrap) and choose to convert your ETH directly into WSTETH
For getting WSTETH, you first go to Curve (https://curve.fi/#/ethereum/pools/steth/swap/) and swap ETH to STETH
Then, after getting some amount of STETH, you go to Lido (https://stake.lido.fi/wrap) and wrap your STETH into WSTETH
Take into account that STETH:ETH and WSTETH:STETH rates are not exactly 1:1, so you have to have about 1.11 ETH initially to get 1 WSTETH this way
First, you have to unwrap your WETH into ETH using Uniswap V3 (https://app.uniswap.org/#/swap)
After that, you have to get WSTETH from ETH as described here.
First, to get WSTETH from STETH, you have to do this.
For getting WETH, you first go to Curve (https://curve.fi/#/ethereum/pools/steth/swap/) and swap STETH to ETH
Then, for going ETH -> WETH, use this.
After you get your WETH and WSTETH, simply deposit them into the strategy and enjoy your APR!
Here is the common list of links where you may do conversions described above:
| Action | Link |
|---|---|
ETH -> STETH, STETH -> ETH
ETH -> WSTETH, STETH -> WSTETH
ETH -> WETH, WETH -> ETH
