How to rollover your liquidity from the LUSD3CRV expiring term on Element!
Follow our guide and learn how to rollover your liquidity from an expiring term to a different term or asset currently live on Element!
Follow our guide and learn how to rollover your liquidity from an expiring term to a different term or asset currently live on Element!
How to rollover your LP tokens to a different term or asset
1. How to rollover your LP tokens to the current 6-month LUSD term
2. How to rollover your LP tokens to the new DAI or USDC terms
3. How to rollover your LP tokens to the steCRV (crvSTETH) term
4. How to rollover your LP tokens to the CRV3crypto term
5. How to rollover your LP tokens to the WBTC term
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, or you can unstake from the Curve pool, switch to a new one, and then rollover to a different Element term.
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 already redeemed your tokens, you will have two options:
- Rollover to a new term denominated in the same asset
If you want to rollover to a new term denominated in the same asset, you can just head over to that new term. For example, if you want to rollover from the expired six-month term LUSD3CRV Term to the current one, you can head to the new six-month term here.
- Rollover to a term denominated in a different asset
If you want to rollover to a term denominated in a different asset, you will need to first head to Curve, remove liquidity from the pool, and then head to the Curve pool corresponding to the term that you’re interested in.
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 LP tokens to the current 6-month LUSD term
Once you have all of your LUSD3CRV 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 while LPing.
- Go to the “Mint & LP” tab on Element, scroll down to the Curve LUSD v2 vault ending on April 29, 2022, and click on “Show”. Input the number of LUSD3CRV-f tokens you wish to allocate. Click on “Mint Tokens”.
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!
Note: Remember that to LP you will need to supply some of the base assets as well.
3b. Buy Principal Tokens: if you choose this option you will be exposed to fixed rates while LPing.
- Head to the Pools tab and scroll to the LUSD3CRV pool (make sure that you choose the one that’s ending on Apr 29, 2022). Click on “Buy” and input the number of PTs that you want to buy.
Note: Remember that to LP you will need to supply some of the base assets as well, so don’t buy the MAX available if you don’t have extra LUSD3CRV-f to provide liquidity.
2. Head to LP section on the new LUSD3CRV pool. Click on LP.
3. Click on the “Add LP” tab, enter the number of Principal Tokens (PTs) and Base Asset tokens you want to deposit, and that’s it! Your rollover will be complete!
2. How to rollover your LP tokens to the DAI or USDC terms
- Follow section 1 in this guide: 1. How to remove liquidity and redeem your underlying tokens.
- Once you have your LP tokens in your wallet, head to the Curve LUSDC-3CRV pool, connect your wallet, and click on the “Withdraw” tab to withdraw your assets.
3. Once your stable coins are back in your wallet; you can swap the corresponding assets for DAI or USDC, depending on which pool you want to roll over.
On the Curve LUSD-3CRV pool, click on the “Buy and Sell” tab and select the tokens you want to swap.
Once you have your DAI or USDC in your wallet you will have two options: “Mint and LP”, or “Buy Principal Tokens.”
4a. “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 or USDC v2 vaults ending on January 28, 2022 (you can also choose the DAI and USDC terms ending on October 15 and October 19), and click on “Show”. Input the number of DAI or USDC tokens you wish to allocate. Click on “Mint Tokens”.
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!
Note: Remember that to LP you will need to supply some of the base assets as well.
4b. Buy Principal Tokens: if you choose this option you will be exposed to fixed rates while LPing.
- Head over to the Pools tab on Element, scroll to the DAI — ePyvDAI term or USDC — ePyvUSDC term ending on January 28, 2022 (you can also choose the DAI and USDC terms ending on October 15 and October 19), and click on LP.
2. Go to the Pool Actions section and 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 an equal number of ePyvDAI or ePyvUSDC tokens and the base asset (DAI or USDC).
4. Approve the transaction, and that’s it! You’ll be now providing liquidity for the DAI or USDC terms.
3. How to rollover your LP tokens to the steCRV (crvSTETH) term
- Follow steps 1, 2, and 3 from section “1. How to rollover your LP tokens to the 6-month LUSD” term to remove your LP tokens.
- Once you have your LP tokens in your wallet, head to the Curve LUSDC-3CRV pool, connect your wallet, and click on the “Withdraw” tab to withdraw your assets.
3. Head to Balancer or the Dex of your preference, click on the trade tab, connect your wallet and swap your stables for ETH or stETH.
Note: the LUSD asset is not listed on Balancer. So, if after removing your liquidity from Curve you’re left with LUSD in your wallet, you will first need to swap your LUSD for a different stable on the Curve LUSDC-3CRV pool.
4. Go to the stETH pool on Curve, click on the “Deposit” tab, and connect your wallet. Input the number of ETH or stETH of your preference and then click on “Deposit”.
Once you have all of your steCRV (crvSTETH) in your wallet you will have two options: “Mint and LP”, or “Buy Principal Tokens.”
5a. “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 v2 vault that ends on January 28 or October 15, and click on “Show”. Input the number of steCRV (crvSTETH) tokens you wish to allocate. Click on “Mint Tokens”.
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!
Note: Remember that to LP you will need to supply some of the base assets as well.
5b. Buy Principal Tokens: if you choose this option you will be exposed to fixed rates while LPing.
- Go to the Element app, click on the Pools tab, and scroll to the steCRV — ePyvcrvSTETH term that ends on January 28 or October 15. 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 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 left in your wallet.
3. After you buy the ePyvcrvSTETH tokens, click on the “Add LP” tab on the same section of the pool. Add the number of ePyvcrvSTETH tokens and steCRV that you want to deposit.
4. Approve the transaction, and that’s it! You’ll now be providing liquidity for the steCRV term.
4. How to rollover your LP tokens to the CRV3crypto term
- Follow steps 1, 2, and 3 from section “1. How to rollover your LP tokens to the 6-month LUSD” term to remove your LP tokens.
- Once you have your LP tokens in your wallet, head to the Curve LUSDC-3CRV pool, connect your wallet, and click on the “Withdraw” tab to withdraw your assets.
3. Head to Balancer or the Dex of your preference, click on the trade tab, connect your wallet and swap your stables for wBTC, ETH, or USDT.
4. Go to the Tricrypto2 Curve pool, click on the “Deposit” tab, and connect your wallet. Input the number of USDT, wBTC, and/or ETH that you want to deposit.
Once you have all of your crv3crypto tokens in your wallet you will have two options: “Mint and LP”, or “Buy Principal Tokens.”
5a. “Mint and LP”: if you choose this option you will be exposed to variable rates while LPing.
1. Go to the “Mint & LP” tab on Element, scroll down to the Curve 3Crypto v2 vault, and click on “Show”. Input the number of crv3crypto tokens you wish to allocate. Click on “Mint Tokens”.
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!
Note: Remember that to LP you will need to supply some of the base assets as well.
5b. Buy Principal Tokens: if you choose this option you will be exposed to fixed rates while LPing.
- Go to the Element app, click on the Pools tab, and scroll to the crv3crypto -ePyvcrv3crypto term that ends on November 12. Click on “Trade”.
2. On the “Pool actions” section, click on the “Buy” tab and input the number of ePyvcrv3crypto tokens you want to buy.
Note: Remember that to LP you will need to supply some of the base assets as well. So make sure that you don’t buy the MAX if you don’t have any crv3crypto left in your wallet.
3. After you buy the ePyvcrv3crypto tokens, click on the “Add LP” tab on the same section of the pool page. Add the number of ePyvcrv3crypto tokens and crv3crypto that you want to deposit.
4. Approve the transaction, and that’s it! You’ll now be providing liquidity for the CRV3crypto term.
5. How to rollover your LP tokens to the wBTC term
- Follow steps 1, 2, and 3 from section “1. How to rollover your LP tokens to the 6-month LUSD” term to remove your LP tokens.
- Once you have your LP tokens in your wallet, head to the Curve LUSDC-3CRV pool, connect your wallet, and click on the “Withdraw” tab to withdraw your assets.
3. Head to Balancer or the Dex of your preference, click on the trade tab, connect your wallet and swap your stables for wBTC.
Once you have all of your WBTC tokens in your wallet you will have two options: “Mint and LP”, or “Buy Principal Tokens.”
4a. “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 down to the WBTC v2 vault, and click on “Show”. Input the number of WBTC tokens you wish to allocate. Click on “Mint Tokens”.
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!
Note: Remember that to LP you will need to supply some of the base assets as well.
4b. Buy Principal Tokens: if you choose this option you will be exposed to fixed rates while LPing.
1.On the “Pool actions” section, click on the “Buy” tab and input the number of ePyvWBTC tokens that you want to buy.
Note: Remember that to LP you will need to supply some of the base assets as well. So make sure that you don’t buy the MAX if you don’t have any WBTC left in your wallet.
2. After you buy the ePyvWBTC tokens, click on the “Add LP” tab on the same section of the pool page. Add the number of ePyvWBTC tokens and WBTC that you want to deposit.
3. Approve the transaction, and that’s it! You’ll now be providing liquidity for the WBTC 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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