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9/17/2020

DeFi: Uniswap, liquidity mining, Liquidity provider rewards

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Walkthrough of Uniswap liquidity mining, how to earn UNI token.
1: Go to 
https://app.uniswap.org/
(Free 400 UNI is already claimed at the screenshot below)

More details at:
https://uniswap.org/blog/uni/
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2: Provide liquidity
Go to "Pool" tab
https://app.uniswap.org/#/pool
Same function as before, but if you are doing this for the first time:
1: Provide 50/50 liquidity e.g. ETH/DAI 50/50 ratio with USD price
Not like Balancer pool with AMM (Automated market making)

There was no indication during this step but you will get UNI-V2 XXX-XXX (pair) token
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3: Go to "UNI" tab
Deposit liquidity pool token which is given with providing the liquidity into the pool above.  "UNI-V2 ETH-DAI token" in this case
​This is similar to Curve LP token.
https://app.uniswap.org/#/uni
There are currently 4 pools as of Sep 18 2020. 
ETH-DAI liquidity was provided above.
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4: Claim, Deposit, Withdraw
Claim to take the UNI rewarded token
Deposit to earn more UNI
Withdraw to unstake the 
UNI-V2 staked token and also claim UNI token
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5: Remove liquidity
Go to the pool you provided and remove liquidity to put the cryptos back into your wallet.
​Thanks!
Additional
You will earn more fee with UNI and ETH by providing UNI/ETH pair than above the instruction as of Sep 19. 
https://uniswap.info/pairs
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