The SWISE-ETH pool on Uniswap has existed for a long time, but its incentives distribution method is changing with the arrival of the Merkle Distributor.
In this guide, we will revisit the process of adding liquidity to the pool, and walk you through the mechanism for claiming the incentives allocated to it (spoiler alert: it’s super simple).
Step-by-step guide to deploying liquidity on Uniswap V3
🦄 Navigate to the SWISE-ETH pool page and press Add Liquidity.
🏷 Select the 0.3% fee tier and make sure the chosen assets are SWISE and ETH.
📊 Set the price range to Full Range (note: selecting this is important for receiving incentives).
💴 Enter the amount of assets you would like to deposit and confirm the transaction. The proportion of assets you will need to add is determined by the Full Range you chose i.e. 50:50.
🤑 Once your transaction is confirmed, you will start earning trading fees and SWISE incentives. There is no need to stake your LP tokens to receive SWISE — you can simply claim them from the StakeWise UI as often as you want.
🫳 To claim your SWISE rewards, connect your wallet to the StakeWise UI and press on the wallet address field — you’ll see a Claim button for all the assets you have been earning as incentives across StakeWise Vaults and DeFi opportunities.
Uniswap explained
Uniswap is a decentralized exchange that processes over $2BN of trading volume per day and is considered to be the most popular decentralized exchange on Ethereum. It is best known for being the first successful DEX on Ethereum, and for the innovation around the trading and liquidity provision functionality, such as hooks and concentrated liquidity. Long story short, Uniswap is as OG as it gets.
Incentives mechanism
Unlike Balancer and Curve, Uniswap does not feature a native mechanism for distributing incentives to liquidity providers. Instead, StakeWise has now introduced a Merkle Distributor that takes care of fairly distributing incentives to LPs based on the amount of liquidity they provide. Note: only Full Range positions are counted.
To claim the SWISE rewards you earn in the ETH-SWISE pool, simply head to the StakeWise interface, connect the relevant wallet, and press on the wallet address button that has CLAIM written on it. From there, simply press the Claim button.
About StakeWise
StakeWise makes staking ETH simple and secure. Pool ETH with others or go solo while keeping your stake liquid.
Choose the best yields in the StakeWise Marketplace and keep your stake liquid with osETH, our liquid staking token: https://stakewise.io
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