Today through this tweet I'm going to cover everything from the beginning to the end about Hydro Protocol.
I will guide you step by step on how you can enter the hydro protocol and earn high ARP by staking your $INJ.
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| Hydro Protocol: How to Earn | by Kakashi |
Let's Get Started Exploring.
What is Hydro Protocol?
Hydro Protocol is the ultimate Injective - native LSD+LSDFi Protocol. Maximize yield with LSD, Real-Yielding Assets (RYA), and Farming.
These are general features found on most DeFi Apps:
- Swap
- Governance
- LP Pools
Let us know the features one by one in depth so that we can use them properly without any confusion.
1- SWAP:
Hydro Protocol will have a basic built-in swap function tied to the hosted LP DEX (Injective Helix Pool, DojoSwap) on the UI front of the protocol. It will support the HDRO-INJ main pool.
Of Course, Gas and network fees are paid in $INJ.
Steps:
- Click on the "SWAP" option
- Select a pair like INJ/HDRO
- Click on Swap and confirm the transaction.
2- Governance:
Governance will remain an important aspect of the Hydro Protocol. By staking your $HDRO to xHDRO tokens, you will be able to take active participation in governance. Some of the types of proposals that can be motioned onto governance for polling include:
- Parameter changes
- Governance parameter changes
- Treasury Deployment
- Text Proposals
3- LP Pool:
Hydro Protocol will have currently two main pools on it. One pool is from Mito Finance and the second is from DojoSwap.
Users can provide liquidity to these pools to gain further staking rewards. The only one pairs with the deepest liquidity will be:
- HDRO/INJ
- INJ pool
How to Mint hINJ?
- Find the "Liquid Staking" (1) tab on the Navigation Panel on the left-hand side
- Choose what kind of reward you would like to receive for your APR rewards
- Input the amount of hINJ you will like to mint (2). Remember, it is a 1-1 ratio
- Hit the "Stake & Mint" (3) button to sign off your transaction
How to Farm?
- Now let's move to the 'Farm' tab on the left (4).
- From here, you can input the hINJ you wish to farm (5). You can also check how much is available for your farm right on top of the input bar.
- You can see how much-estimated rewards you can have (6).
- Check the Terms of Use (7).
- Hit the 'Add Farm' button and sign off on the transaction.
- If you return to the main Farm page, you can see how much rewards are accumulated throughout the farm (9). Please be reminded that exact calculations are made in 24-hour intervals, so this may look different than what you saw on the previous screen.
- On the screen below, you can see how many and when your rewards become claimable. As mentioned in the "Farm" section of this document, these become claimable in 14 days (10).
