How to rollover your liquidity from the expiring DAI, USDC, alUSD, and steCRV terms on Element!
Follow our guide and learn how to rollover your liquidity from the expired terms to currently live terms!
Follow our guide and learn how to rollover your liquidity from the expired terms to currently live terms!
How to remove liquidity and redeem your underlying tokens
When a term expires, the first thing you have to do is remove your liquidity and redeem your underlying tokens.
After redeeming your underlying tokens you can rollover those same tokens to a new term denominated in the same asset.
In the example below, we show how removing liquidity and redeeming the underlying tokens looked like for the LUSD term that expired on September 28, but this is the same flow you will follow for other expiring terms!
- Head to the Pools tab and scroll down to the expiring term, then click on LP.
2. Once on the selected pool, click on “Remove LP,” click on MAX, and then on remove liquidity on the bottom.
3. Click on the “Portfolio” tab, and redeem your PTs for the underlying tokens.
Once you have removed liquidity and redeemed your underlying tokens, you can follow any of the steps below to rollover your liquidity to a new term.
1. How to rollover your liquidity to the current DAI or USDC terms
2. How to rollover your liquidity to the current steCRV (crvSTETH) term
3. How to rollover your liquidity to the current alUSD3CRV term
1. How to rollover your liquidity to the current DAI or USDC terms
Once you have your DAI or USDC in your wallet you will have two options: “Mint and LP”, or “Buy Principal Tokens.”
1a. “Mint and LP”: if you choose this option you will be exposed to variable rates. You can also get additional, variable yield by LPing.
- Go to the “Mint & LP” tab on Element, scroll to the DAI v2 or USDC v2 vaults ending on April 29, 2022, and click on “Show”. Input the number of DAI or USDC tokens you wish to allocate. Click on “Mint Tokens”.
Note: Remember that, to provide liquidity in the next step, you always have to deposit some of the Base Asset tokens into any given pool. So make sure that you don’t buy the MAX if you don’t have any DAI or USDC left in your wallet.
2. Click on “LP for additional yield”, and then input the number of PT and YT that you want to allocate. Click on “Add liquidity” and that’s it! Your rollover will be complete!
1b. Buy Principal Tokens: if you choose this option you will be exposed to fixed rates. You can also get additional, variable yield by LPing
- Head over to the Pools tab on Element, scroll to the DAI — ePyvDAI term or USDC — ePyvUSDC term ending on April 29, 2022, and click on Trade.
2. Go to the Pool Actions section click on the “Buy” option under the DAI or USDC pools and buy the number of ePyvDAI or ePyvUSDC tokens you wish to buy.
Note: Remember that to LP you will need to supply some DAI or USDC, so don’t buy the MAX available if you don’t have extra DAI or USDC to provide liquidity.
3. Click on the Add LP section and add the number of ePyvDAI or ePyvUSDC tokens that you wish to deposit if you want to become an LP to gain additional yield.
4. Approve the transaction, and that’s it! You’ll be now providing liquidity for the DAI or USDC terms.
2. How to rollover your liquidity to the current steCRV (crvSTETH) term
Once you have all of your steCRV (crvSTETH) in your wallet you will have two options: “Mint and LP”, or “Buy Principal Tokens.”
2a. “Mint and LP”: if you choose this option you will be exposed to variable rates. You can also get additional, variable yield by LPing.
- Go to the “Mint & LP” tab on Element, scroll to the Curve stETH v2 vault that ends on April 15, 2022, and click on “Show”. Input the number of steCRV (crvSTETH) tokens you wish to allocate. Click on “Mint Tokens”.
Note: Remember that, to provide liquidity in the next step, you always have to deposit some of the Base Asset tokens into any given pool. So make sure that you don’t buy the MAX if you don’t have any steCRV (crvSTETH) left in your wallet.
2. Click on “LP for additional yield”, and then input the number of PT and YT that you want to allocate. Click on “Add liquidity” and that’s it! Your rollover will be complete!
2b. Buy Principal Tokens: if you choose this option you will be exposed to fixed rates. You can also get additional, variable yield by LPing.
- Go to the Element app, click on the Pools tab, and scroll to the steCRV — ePyvcrvSTETH term that ends on April 15, 2022. Click on “Trade”.
2. On the “Pool actions” section, click on the “Buy” tab and input the number of ePyvcrvSTETH tokens you want to buy.
Note: Remember that to LP you will need to supply some steCRV (crvSTETH), so don’t buy the MAX available if you don’t have extra steCRV (crvSTETH) to provide liquidity.
3. After you buy the ePyvcrvSTETH tokens, click on the “Add LP” tab on the same section of the pool if you want to become an LP. Enter the number of ePyvcrvSTETH tokens that you want to deposit.
4. Approve the transaction, and that’s it! You’ll now be providing liquidity for the steCRV term.
3. How to rollover your liquidity to the current alUSD3CRV term
Once you have all of your alUSD3CRV in your wallet you will have two options: “Mint and LP”, or “Buy Principal Tokens.”
3a. “Mint and LP”: if you choose this option you will be exposed to variable rates. You can also get additional, variable yield by LPing.
- Go to the “Mint & LP” tab on Element, scroll to the Curve alUSD v2 vault that ends on April 29, 2022, and click on “Show”. Enter the number of alUSD3CRV tokens you wish to allocate. Click on “Mint Tokens”.
Note: Remember that, to provide liquidity in the next step, you always have to deposit some of the Base Asset tokens into any given pool. So make sure that you don’t buy the MAX if you don’t have any alUSD3CRV left in your wallet.
2. Click on “LP for additional yield”, and then input the number of PT and YT that you want to allocate. Click on “Add liquidity” and that’s it! Your rollover will be complete!
3b. Buy Principal Tokens: if you choose this option you will be exposed to fixed rates. You can also get additional, variable yield by LPing.
- Go to the Element app, click on the Pools tab, and scroll to the alUSD3CRV-f ePyvCurve-alUSD pool that ends on April 29, 2022. Click on “Trade”.
2. On the “Pool actions” section, click on the “Buy” tab and enter the number of alUSD3CRV-f tokens you want to buy.
Note: Remember that to LP you will need to supply some alUSD3CRV, so don’t buy the MAX available if you don’t have extra alUSD3CRV to provide liquidity.
3. After you buy the alUSD3CRV-f tokens, click on the “Add LP” tab on the same section of the pool if you want to become an LP. Enter the number of alUSD3CRV-f tokens that you want to deposit.
4. Approve the transaction, and that’s it! You’ll now be providing liquidity for the alUSD3CRV term.
Doubts 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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