As I wrote in a previous article that with stMATIC you can use DeFi while still earning staking rewards on MATIC, some of you asked me how to do that.
The first step is to choose your DeFi protocol. I decided to use Quickswap on Polygon zkEVM, since it has a good risk rating on sites like exponential.fi.
I also decided to invest into two pools:
- stMATIC/MATIC, in order to use my stMATIC in DeFi while still earning staking rewards on MATIC, as announced above
- WETH/AAVE, because I think that AAVE can rebound further to Curve hack - so I swapped some of my ETH for AAVE
After having deposited liquidity into these both pools, I farmed them in order to earn QUICK tokens. Please see the result below - this screenshot was taken only a few minutes after having started to farm:
Therefore, I now have about $98 invested into these farms. As I kept about $10 in ETH to pay gas fees, it makes a total amount of $108. As you may recall, I had initially $100, taken from my Publish0x earnings. Therefore, on day 3, I have increased the value of my assets by 8%. It is still a long road until it reaches $1000. However, I count on two effects: the increase of the token prices - ETH, AAVE, MATIC, the QUICK rewards / APR of the above farms, and on top of that the staking rewards earned through stMATIC...
Disclaimer: The information provided in this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of this content as such.
