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Noah Hein
Noah Hein

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How to Stake Funds on SushiSwap using Arbitrum

Intro

Sushiswap is a DeFi platform where you can provide liquidity to pools and earn interest, as well as borrow collateral and swap various tokens.

Arbitrum is a layer-two Ethereum Network. That means it does not operate directly on Ethereum, but instead only "settles" on the layer one. All of the computing is done off-chain, which results in lower gas fees for the users, while still retaining the decentralized, secure, consensus mechanisms that run Ethereum.

Getting funds to arbitrum

You will need to use the Arbitrum bridge to get all of your current Ethereum from the mainnet to Arbitrum.

It can take up to 10 minutes for your funds to show up on the network, so do not freak out if you are unable to see your funds immediately.

After that you can then begin operating on SushiSwap through the Arbitrum Network.

Staking on Sushi

Go to SushiSwap and make sure your wallet is connected, and then change the network to Arbitrum.

It should look like this when you're done:
Shows SushiSwap UI focused on the network and wallet connection

After that you will need to find a pool you want to provide liquidity in.

It is sorted currently top to bottom by %APR. The more liquidity is needed, the better the returns. After you find a pool you want to stake in, you will need to go to the swap tab to swap for the relevant tokens.

For example, if you wanted to farm the "WETH/LINK" pool, you will need an equal value amount of each token. You can use the swap feature on Sushi to obtain the correct amount of each token.

After you have the tokens, you will be able to provide liquidity to the pool by depositing it like so:

SushiSwap UI showing the deposit pool

After depositing the two tokens to the pool, you will receive some SLP/KLP, which you can then move over to the "staking" tab. You will then begin farming rewards from the pool, in the relevant token. Each pool will show you what the rewards you will be getting are.

Having done those steps, you can then pull out your rewards, stake, and tokens at a later date of your choosing!

SushiSwap UI displaying the rewards system

Disclaimer that none of this is financial advice!!

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