Okay, anon, in case you missed it - Kim was recently integrated with Steer Protocol.
Now, you don’t need a driving license, an airplane, or a ship to get to where you’re heading. All you need it:
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A lil bit of ETH
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A couple of tokens you wanna LP with
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That dawg in you
Let’s dive into a quick-start guide on using Steer to set up and manage your LPs on Kim and how they can help you to prevent impermanent loss.
Oh, and there’ll be a little extra utility with your kpNFTs you get when providing liquidity in Kim 🎉
Steer on Kim: Quick Start Guide
Before we dive in, wtf is Steer anyways?
Well, it’s a lotta things. But importantly, it’s a supercharged, steriod-taking, concentrated liquidity manager.
That means, with Steer’s strategies, you can enjoy:
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Optimized rewards
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Reduced impermanent loss
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Higher testosterone levels (if applicable)
Okay, anon, first step - pretty easy. Head on over to the pools section of Kim.
Select the pool you wanna provide LP to. For this example we’ve selected ETH <> USDC. Now you wanna hit “create position”.
Set it to “Auto” and you’ll default to Steer (as that’s the only automatic strategy atm, more soon™)
Select your strategy below, there’s FLS, EES V2, or CRS V2. Each offer their own risks, different rewards.
For this example we’re going with FLS.
Enter the amount of liquidity you want to as either token below the strategy section.
Okay, whew, now we’re getting spicy.
You can lock your LP for a lock bonus in $KIM / $xKIM. The longer you lock, the higher your bonus. For this example, we went with 69 days (nice).
⚠️If you lock your liquidity you will not be able to remove it until the end of the locking period.
Now, approve any tokens (if you need to, first timer) and create your position.
Voila. You’re all set! Your first kpNFT is minted.
Now, on the positions section of Kim, You can track your positions at kpNFTs tab.
When you Withdraw from the Position, your kpNFT position will move to “Vaults V4,’ welp you will be missing out on more YIELD from boosting kpNFTs.
Boost kpNFTs?
But how and for what?!
Of course for more rewards.
On My Positions, you’ll see a juicy new section dedicated to kpNFTs.
So long as you have a kpNFTs position, you’ll be able to Allocate $xKIM here to increase the yield of your staking positions up to +100%.
Ready, set, GO to Yield Booster and start farming to your heart’s content.
Good Luck, Anon
Whether you choose to boost your positions through Yield Booster, or directly through the Rewards Plugin, you’ll always be rewarded with, well, a fk tonne of rewards.
So, go forth, provide liquidity, make your family proud.