How to rollover your liquidity from the expired DAI and Curve stETH (steCRV) terms
The Curve stETH (steCRV) and DAI, three-month terms, expired yesterday, October 15!
The Curve stETH (steCRV) and DAI, three-month terms, expired yesterday, October 15!
Follow this guide to learn how to rollover your liquidity to a different term or asset currently live on Element.
How to remove liquidity and redeem your underlying tokens
When a term ends, you will have to remove your liquidity and then redeem your underlying tokens if you’re an LP.
If you bought Principal Tokens (PT) and didn’t LP, you only need to redeem your underlying tokens to access your fixed APR.
After redeeming your underlying tokens, you can rollover to the new terms for those same assets. If you prefer to rollover to a different term, you will first have to unstake your tokens from the underlying Curve pool, LP in a different one, and then head back to Element.
Remove liquidity if you’re an LP
- Head to the Pools tab, scroll down to the expired term where you’re an LP, click on “Show,” and then click on LP.
2. Click on “Remove LP,” then click on MAX, and, finally, click on “Remove liquidity” on the bottom of the screen.
Redeem your underlying tokens
Click on the “Portfolio” tab, and redeem your PTs for the underlying tokens by clicking on redeem.
After redeeming your tokens, you will have two options
Rollover to the new DAI or Curve stETH (steCRV) terms
If you want to rollover to a new term for the same assets, you can head over to those new terms. For example, you can head to the new DAI or Curve stETH (steCRV) terms expired on October 15 to those valid until January 28.
Rollover to a different term
Suppose you want to rollover to a different term. In that case, you will need to first head on to Curve, remove liquidity from the pool, and then head on to the Curve pool corresponding to the term that you’re interested in and provide liquidity in that pool.
Rollover to the new DAI term
If you want to get exposure to variable rates on Element, you should follow the “Mint & LP” steps, and if you want to get exposure to fixed rates, you should follow the “Buy principal tokens” steps.
Mint and LP: if you choose this option, you will be exposed to variable rates while LPing.
- Go to the “Mint & LP” tab on Element, scroll to the DAI v2 ending on January 28, 2022, and click on “Show.” Input the number of DAI tokens you wish to deposit. Click on “Mint Tokens.”
2. Click on “LP for additional yield,” and then input the number of Principal Tokens (PT) and Yield Tokens (YT) that you want to deposit. Click on “Add liquidity,” and that’s it! Your rollover will be complete!
Note: Remember that to LP, you will also need to supply some of the base assets.
Buy Principal Tokens: if you choose this option, you will gain exposure to purely fixed rates.
- Head over to the Pools tab on Element, scroll down to the DAI — ePyvDAI term ending on January 28, 2022, and click on LP.
2. Go to the Pool Actions section and click on the “Buy” option under the DAI pools. Input the number of ePyvDAI tokens you wish to buy, and click on “Buy.”
Note: Remember that to LP, you will also need to supply some of the base assets so save some DAI.
3. Click on the Add LP section and input your ePyvDAI tokens and some of the base assets (DAI) as well.
4. Approve the transaction, and that’s it! You’ll now be providing liquidity for the DAI term!
Rollover to the new Curve stETH term
If you want to get exposure to variable rates on Element, you should follow the “Mint & LP” steps, and if you want to get exposure to fixed rates, you should follow the “Buy principal tokens” steps.
Mint and LP: if you choose this option, you will be exposed to variable rates while LPing.
- Go to the “Mint & LP” tab on Element, scroll to the Curve stETH vault ending on January 28, 2022, and click on “Show.” Input the number of steCRV tokens you wish to deposit. Click on “Mint Tokens.”
2. Click on “LP for additional yield,” and then input the number of Principal Tokens (PT) and Yield Tokens (YT) that you want to deposit. Click on “Add liquidity,” and that’s it! Your rollover will be complete!
Note: Remember that to LP, you will also need to supply some of the base assets.
Buy Principal Tokens: if you choose this option, you will gain exposure to purely fixed rates.
- Head on over to the Pools tab on Element, scroll to the steCRV-ePyvcrvSTETH term ending on January 28, 2022, and click on LP.
2. Go to the Pool Actions section and click on the “Buy” option. Buy the number of ePyvcrvSTETH tokens you wish.
Note: Remember that to LP, you will also need to supply some of the base assets.
3. Click on the Add LP section and add your ePyvcrvSTETH and steCRV tokens.
4. Approve the transaction, and that’s it! You’ll be now providing liquidity for the Curve stETH term.
How to rollover to a different term on Element
If you wish to rollover to a different term on Element, you first need to go to Curve and unstake your tokens from the Curve pool.
Unstake your Curve stETH pool tokens to rollover to a new term
- Head on to the stETH Curve pool, click on the “Withdraw” tab, and then click “Withdraw” on the bottom of the screen.
After you have unstaked your Curve stETH pool tokens or already have DAI in your wallet, you’re ready to rollover to a different term!
If you want to rollover your liquidity to any of the following terms:
- LUSD.
- DAI or USDC.
- CRV3crypto.
- WBTC.
Follow the steps below:
First, click on the “How to rollover your liquidity from the LUSD3crv term expiring on September 28!” guide, and keep it opened on a second tab. Then, follow the steps below depending on what term you wish to rollover.
1. How to rollover your LP tokens to the 6-month LUSD term
1. If you are holding ETH or stETH, make sure to swap it for LUSD, DAI, USDC, or USDT (you can do that in a dex like Balancer). If you are holding DAI, you’re good to go.
1.2 Go to the Curve LUSD Pool and input the number of LUSD, DAI, USDC, or USDT you wish to deposit, then click “Deposit” on the bottom of the screen.
1.3 Follow this section of the “How to rollover your liquidity from the LUSD3crv term expiring on September 28!” guide starting on step 3.a.
2. How to rollover your LP tokens to the new DAI or USDC terms
2.1 If you are holding ETH or stETH, make sure you swap your ETH or stETH for DAI or USDC (you can do that in a dex like Balancer). If you’re holding DAI and want to rollover to the USDC term, swap your DAI for USDC.
2.2 Follow this section of the “How to rollover your liquidity from the LUSD3crv term expiring on September 28!” guide starting on step 4.a.
3. How to rollover your LP tokens to the CRV3crypto term.
Follow this section of the “How to rollover your liquidity from the LUSD3crv term expiring on September 28!” guide starting on step 3.
4. How to rollover your LP tokens to the WBTC term.
5.1 First, make sure you swap your ETH or DAI for WBTC (you can do that in a dex like Balancer).
5.2 Follow this section of the “How to rollover your liquidity from the LUSD3crv term expiring on September 28!” guide starting on step 4.a.
If you want to rollover to the new crvMIM or eursCRV terms, please follow the guides below:
- Hot to get exposure to fixed rates with the new crvMIM term.
- How to become an LP for the new crvMIM term.
- How to get exposure to fixed terms with the eursCRV term.
Concerns or questions?
If you have any doubts, questions, or feedback regarding liquidity rollover, please don’t hesitate to reach out!
Feel free to ping us in our #questions channel on our Discord server, and we will get back to you to clarify any doubts you might have!
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