crownIcon Mint Crypto Bums Now & Earn NFTonPulse Marketplace Fees! smileIcon

by CryptoKnight
March 24, 2023

How To Stake Your LP Token on PulseX

Table of Content

Latest News

PulseX is a decentralized exchange (DEX) on PulseChain and a fork of the popular Uniswap V2 exchange. It’s currently the most liquid automated market maker (AMM). It enables people to exchange PRC-20 tokens, add liquidity, stake them, and farm them for incentive token INC. Learn how farming works and how to put your liquidity pool to work.

What is farming on PulseX

Farming on PulseX means staking your liquidity pool token (PLP) in order to harvest passive income in the form of INC incentive tokens. Learn first how liquidity pools work and  how to provide liquidity to a liquidity pool (LP), and then, once you have your PLP token, start farming it. 

Here’s what Richard Heart has to say about providing liquidity and farming:

This is how you farm on PulseX: Farming Page

STEP 1: 

Visit: PulseX Farms and connect your wallet

STEP 2: 

Click ‘Stake LP’

You’ll get a pop-up to confirm your amount. Select how many PLSX-PLS PLP token you want to stake. 

Click ‘Confirm’ , metamask will open, confirm the transaction. 

You’ll be redirected back to this page, you can see how many ‘INC’ tokens you’ve earned. Once you are ready to ‘harvest’ your INC token, visit PulseX Farm and click ‘Harvest’

To check your accumulated INC rewards, navigate to the Earn > Farms section of PulseX DEX and view the number of “INC” tokens you have earned. If you wish, you may proceed to harvest them.

What is INC token

INC is nothing else than an incentive token. When you farm a pair of tokens that you added to a LP, you earn INC, which can be harvested and then sold on the market for another token. You could sell INC for the token that you already farm and add it to the LP to increase your share of the fee pool. 

INC has no other utility other than being an incentive to farm. Instead of paying liquidity providers in the same tokens that the liquidity has been provided for, they are paid in INC, and this has the scope to protect the price of the tokens in the pool as they aren’t unnecessarily inflated for this reason and dumped on the holders. To harvest larger amounts of INC, users need to stake PLPs for a longer period of time.

*** Cryptocurrencies and NFTs are volatile and those who invest in them should be prepared to lose all their money. NOTHING states, shares, expresses, or allude to should be considered professional advice or recommendations of action. This blog is intended for educational and entertainment purposes only. Consult a professional (or two…or more) for any tax, accounting or legal related questions you may have. Howtopulse did not receive any payments to write this blog or any other post on this site***

Who Are We?

As members of the PulseChain community, mission is to make the onboarding process as simple as possible.
We did the research for you providing top quality information, tools, news and updates about PulseChain, HEX and PulseX

Ask us a Question