fLITH Staking goes LIVE on Convergence

Convergence Finance is delighted to launch the staking of 𝑓LITH on Convergence’s ConvPool as part of the campaign to celebrate the IDO of Lithium Finance on Polkastarter. This came after the success of Lithium’s pre-IDO on Convergence earlier in June. As a result, ConvPool users can now earn rewards from staking not just their $CONV tokens and Convergence LP tokens, but also with their CONV-𝑓LITH LP tokens!

𝑓LITH is the future token of Lithium. Convergence team has successfully sourced pre-sale tokens of Lithium Finance from the hands of one of their early investors, “wrapped” them as future tokens, aka 𝑓LITH. This is part of the efforts to make private assets available to everyone and bring real assets into the DeFi space. If you want to know the difference between 𝑓LITH and the upcoming LITH, you can read their past publication <Explained: Difference Between Pre-IDO and IDO>.

If you are already familiar yourself with the ConvPool interface, the process of staking CONV-𝑓LITH LP tokens is similar to staking other LP tokens in the Convergence ecosystem. As a refresher, let’s take a quick look at how to stake CONV-𝑓LITH LP tokens in ConvPool, and how to claim the rewards.

Staking CONV-𝑓LITH LP Tokens

1. To stake your CONV-𝑓LITH LP tokens, you must obtain your tokens by providing liquidity to the CONV-𝑓LITH Pool. For details, please visit here. You can also go to ConvX to buy 𝑓LITH.

Once you have your CONV-𝑓LITH LP tokens ready, visit the Staking Pools page on ConvPool, and click Stake LP Token under the CONV-𝑓LITH LP pool.

2. Input the amount of CONV-𝑓LITH LP token you want to stake. Click Max if you’re going to stake all of your tokens, then click Stake.

3. After the transaction is confirmed, your CONV-𝑓LITH LP tokens are staked successfully to the smart contract.

Claim Staking Rewards

On the Staking Pools page of ConvPool, click Claim CONV under the CONV-𝑓LITH LP Pool. Once the transaction is approved, you will receive CONV as your staking reward. The process should be the same as claiming rewards from other existing pools.

About Convergence Finance

Convergence will be the first AMM to make private assets interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols. Convergence enables asset owners to take advantage of DeFi’s liquidity, while DeFi users can access exotic real-world assets unavailable to them before. Convergence Finance combines the edge of a lowered investment entry barrier with the liquidity, automation, and transparency features of DeFi to bring real-world asset exposure to all DeFi users.

📰 INFO

https://medium.com/convergencefinance/lith-staking-is-live-on-convergence-13e99cc25be7