Abachi <> Bunni - What, How and How Much?

GM frens!

The Bunni Pro gauges for ABI/WETH pairs have finally gone live on Arbitrum & Ethereum Mainnet! 🥳🎊🎉💃

Thanks to our strategic investment into $LIT, we have a sizable voting power on Bunni gauges, and therefore an outsized chunk of rewards is being directed towards $ABI pools on both Arbitrum & ETH Mainnet, paying up a fantastic ~280% APR on Mainnet at the time of this writing!

But ser, my tokens are on Arbitrum. Can I bridge em?

Of course you can! We got a nice little walkthrough (with pictures!) on just how to do that!.

Can I stake em here on Arbitrum?

Of course you can! Just switch over to Arbitrum in https://bunni.pro/stake and select the ABI/wstETH pool for a juicy yield.

But ser, HOW do I stake em?

Glad you asked!

Head over to https://bunni.pro/stake. Look for the ABI/WETH pair and click on it. A whole bunch of options will open up below it.

If you wish to add just ABI, click on the Zap tab, enter the amount of ABI you wish to stake, approve, and then stake (2 transactions). It will rebalance automatically.

If you want to add both tokens in the pair, go to the Add Liquidity tab. It will tell you how much of each token you need and you can stake them after entering the amounts.

Approve both the tokens and then click the Deposit & Stake button that appears. Approve the final transaction, and you’re done!

You will now start incurring oLIT tokens as rewards. Click on the Claim section to see how much oLIT you’ve accumulated so far. Once you’ve got a few, you can claim them from here.

However, there’s a twist.

oLIT tokens are not liquid and therefore can’t be sold directly. They need to be converted into $LIT which is liquid and can be sold easily. Think of it as unstaking them, for a simplistic understanding. So how to convert to $LIT?

Go to oLIT section in the top menu of the website. You will need to provide an equivalent value in WETH in order to unlock them.

Don’t worry, you’re not paying any more money. It’s just an added step in the design of the protocol, which I am not going to bore you with.

Let’s assume you have earned 1000 oLIT. Right now they are worth about $15. You will give them $15 worth of WETH from your own along with 1000 oLIT, and get $30 worth of $LIT back instantly, which you can sell for USDC, ETH, ABI or whatever.

And that’s it!

If you wish to unstake and get your ABI back, you can go to Stake > ABI pair > Unstake and unstake your position.

Once done, go to Remove Liquidity tab and withdraw them into equal parts ABI & quote pair.

If you run into trouble at any point, feel free to hit up one of the mods or team members in our Discord, and they will be happy to help you out!

Now go get LIT!

Subscribe to Abachi Labs
Receive the latest updates directly to your inbox.
Mint this entry as an NFT to add it to your collection.
This entry has been permanently stored onchain and signed by its creator.