Arthswap has 259% APY for USDT-USDC stable coin Liquidity Pools. They even have 193% APY for BUSD-USDC LP pools. Also DAI-USDC LP pool gives 225% APY. ArthSwap is a decentralized exchange on the Astar Network, an EVM-compatible blockchain that calls itself “the Polkadot-native dApp hub supporting Ethereum, WebAssembly, dApp Staking, and Layer2 solutions”
Its ARSW token hasn’t launched yet but is expected soon. By providing liquidity, you can farm $ARSW but will only be able to claim your rewards once the token goes live. We’re interested in the USDT/USDC pair that’s currently yielding 259% APR based on an estimated ARSW price of $0.5.
- 1) Step 1: Add the Astar network to MetaMask using the following parameters.
- 2) Step 2: Head to the Celer Network Bridge and connect your MetaMask wallet to the Ethereum network. You can bridge USDT and USDC separately, or send either and do the swap on ArthSwap. Currently, supported assets are wETH, wBTC, USDT and USDC. Gas fees on the Astar Network are paid in ASTR and you’ll receive 0.005 ASTR when you bridge assets for the first time. If you need more, ArthSwap has published a guide to using the ASTR Faucet.
- 3) Step 3: Navigate to ArthSwap: https://app.arthswap.org/#/farms You’ll need equal amounts of USDC and USDT to provide liquidity, so you can swap on ArthSwap or bridge both assets separately as mentioned earlier. I swaped my 50% of ASTR tokens into USDC first. Then I swap other 50% ASTR tokens into USDT. I made sure I keep 0.09 ASTR for gas fee. I do not want to run out of ASTR gas fees. When I swap, I pick up slow transaction with lowest gas fees to make sure I have gas fee left for adding liquidity in next step. Gas fees on ASTRA network is 0.0001 ASTR token. This is in 1 in 1000 th of cents. So small compare to other networks like Fantom, Matic, BNB, or Avalaunch -- certainly compare to Ethereum in few dollars.
- Step 4: Once you have your USDT and USDC, add liquidity:
Go to https://app.arthswap.org/add/. You need to approve USDC first with gas fees. Next USDT with gas fees.
You’ll be asked to approve spending your assets. Final step is to deposit your USDC and USDC tokens. Confirm the transactions to receive your Liquidity Provider (LP) tokens.
That’s it! You’re now earning ARSW tokens, which you can claim once the token is launched. I my case, I will making 1 ARSW token per month at $0.5 for a investment of $2. That is not so bad if this current APY lasts.
Purchasing ASTR tokens from Centralized Exchange Non EVM to Converting to EVM Metamask
I need to purchasing ASTR tokens from Centralized Exchange like kucoin. Kucoin does not support EVM compatible withdrawal of ASTR tokens directly. I had to use Polkdot.js wallet. I first have to install the Polkdot.js wallet. Get the ASTR token address. I copied to wallet address. I went to Kucoin and paste this as the ASTR withdrawal wallet address. Then I initiated a ASTR token withdrawal from Kucoin. Kucoin as a withdrawal fee of 10 ASTR tokens with minimum 20 ASTR token withdrawal. This amount to $0.50 in fee at ASTR token price of $0.05. After I withdraw my ASTR tokens from Kucoin into Polkdot.js wallet, I connected my Polkdot.js wallet to portal.astar.network/#/assets. I click on Transfer to Send those ASTR tokens from Non EVM Polkdot.js wallet to EVM compatible Metamask wallet. I pasted my Metamask wallet address and paid ASTR gas fees to send it out. I pick average gas fee to lowest gas fees at 0.00000273 ASTR in gas fees. You need to adjust your maximum so that some is left for the gas fees. According to Official Astar Network discord channel, only EVM supported centralized exchange withdrawal is Gate.io. Binance, Huobi, Kucoin and other centralized exchanges do not support EVM compatible Metamask wallet direct withdrawal. This is same for Sending ASTR tokens from EVM compatible Metamask to Centralized exchangers. Do NOT send ASTR tokens from Metamask directly into Centralized exchanges for trading. They do not support it and funds will be lost. You have been warned! All Tokens in Astra network can be found in https://blockscout.com/astar/
Risk and Rewards
Finally, here are my risk and rewards summary. Arthswap Protocol is a new DEX on Astra Network and there is always risk of Smart contract exploits where all funds or partial of funds can be lost due to an exploits. There is no entry for Arthswap Protocol on defisafety.com. I also wanted to get in on Arthswap Protocol's possible future airdrop if any.
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