osETH has finally been deployed on Arbitrum!
We are super excited to offically kick off our multi-chain odyssey with the launch of osETH liquidity pools. Our osETH-ETH pool on Arbitrum has been deployed on Balancer, offering LPs and users a simple and secure avenue for trading osETH and earning extra yields.
In this guide, we will cover everything you need to know about providing liquidity to osETH-ETH pool on Balancer and get rewarded for it — strap in!
Step-by-step guide to deploying liquidity on Balancer (on Arbitrum)
- Bridge osETH & ETH to Arbitrum using the StakeWise Bridge. It is recommended by StakeWise as the bridging solution of choice for osETH. Read our full guide on using the StakeWise Bridge for bridging assets to Arbitrum.
- Navigate to the osETH-ETH pool page on Arbitrum and select “Add Liquidity”.
- Enter the amount of assets you wish to deploy as liquidity. Note, Balancer allows you to deposit liquidity in any ratio, however, it is recommended to deposit ~50/50 WETH/osETH to avoid price impact and capital loss (see the Balancer Explained section for more information).
Once your transaction is confirmed, you will start providing liquidity for this pool and earning trading fees and staking yield! There is one final step left: - Press on the Staking Incentives tab and click Stake to stake your Balancer LP tokens — this way, you will also earn $ARB incentives from LPing!
Don’t forget to periodically claim your $ARB rewards via the Claim interface: https://app.balancer.fi/#/arbitrum/claim.
Balancer Explained
Balancer is a decentralized exchange that has been live since June 2020 and has over $700M of TVL. Just like UniSwap, Balancer allows users to deploy liquidity in a permissionless fashion and for traders to trade assets via its automated market maker (AMM).
Receiving $ARB incentives from this pool requires staking the Balancer LP tokens. In the future, incentives might be switched to a mix of $SWISE and $BAL tokens.
For more info about the Balancer incentives mechanism, visit our guide for providing osETH-ETH liquidity on Ethereum Mainnet.
StakeWise makes staking ETH and GNO simple and secure! Pool ETH with others or go solo — no matter how you stake, you stay liquid with osETH and osGNO tokens.
Find the best way to stake ETH & GNO 👉 https://stakewise.io
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