A Guide of Yield Farming on Nerev Consensus using Nabox App

By NULS | Nerve | 21 Apr 2022


The token output mechanism on Nerve consensus is quite unique, think of it as a farming pool that continuously generates tokens by adding supported liquidity pairs and NVT tokens on its main net.

There are 4 LP tokens and one single coin that are supported to stake in Nerve mainnet, the LP tokens are NVT_USDTN_LP、NVT-ETH_LP、NVT_BNB_LP、NVT_NULS_LP, the single token is NVT token.

To be noted is that liquidity providers get more rewards than single coin stakers.

This article will explain how to add liquidity on Nerve main net using Nabox mobile wallet. The liquidity pair we are using today is NVT-BNB.

To get ready:

  1. Set up your Nabox wallet account. Nabox wallet can be downloaded at https://nabox.io/
  2. Make sure you have BNB and NVT on Nerve chain
  3. If you don’t BNB and NVT on Nerve chain, I’m sure that Nabox one-click crosschain feature will be able to help

 

Visit NerveSwap on Nabox wallet

  • Discover
  • Search “NerveSwap”
  • Generate layer2 address

Note: “Generate layer2 address” is only required for the first-time entrance.

 

How to Add liquidity for NVT-BNB LP

Click top right menu “Liquidity”

  • Add liquidity
  • Select “NVT
  • Enter amount
  • Select “BNB”, The same worth of BNB will be automatically calculated.
  • Click “Confirm”, input password

After this is completed, you will get your BNB-NVT LP

After LP received, how to stake BNB-NVT LP tokens on Nerve consensus?

Click top right menu “Consensus”

  • Click “Stake for rewards
  • Select a token
  • Select staking period
  • Enter the amount of LP you are going to stake
  • Click “Confirm”, input password

Now your BNB-NVT LP starts to generate NVT tokens for you, that’s the rewards you earn as a liquidity provider!

 

How to unstake from consensus staking and remove liquidity.

Unstake from consensus staking

Click top right menu “Consensus

  • Find your LP tokens
  • Click “Withdraw
  • Click “Confirm”, input password.
  • Remove liquidity.

 

Click top right menu “Liquidity

  • Find your LP tokens
  • Enter the amount of LP you want to remove
  • Confirm” and input password.

In order to receive tokens back on Nerve chain (BNB and NVT), you will need to unstake from consensus staking first, then remove liquidity.

If you still have doubts using Nabox wallet to interact with NerveSwap, our community will be at service all day! We are also open-minded to other product suggestion and feedback!  

Contact us

How do you rate this article?


44

0

NULS
NULS Verified Member

NULS is a blockchain infrastructure for customizable services, driven by our global open-source community


Nerve
Nerve

NERVE is a decentralized digital asset service network.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.