How do I acquire Sushi ETH-USDC LP tokens?

Step by Step Guide on how to acquire LP on Sushi using MetaMask Wallet and ETH-USDC pair (you can use this guide to do the same with the other pairs)

Step 1. Go to https://app.sushi.com/ Always verify correct project address to avoid fishing.

Step 2. You will need to Connect your wallet, Approve the transaction and do the actual SWAP. You will do 3 steps, and for last 2 you will pay fees.

  • Connect the Wallet- FREE (this is where you are connecting your MetaMask Wallet to Sushi DEX)

  • Approve transaction- Sushi Fee (This is where Sushi charges you a fee for using their pool to exchange tokens. This fee is split between the Liquidity providers who put their USDC and ETH into this pool)

  • SWAP -Network Fee or gas fee (Fee paid to Ethereum network)

Once you SWAP, do not forget to create custom token in MetaMask so you can see your USDC like below

Now you can have your assets work for you. First is to put your funds into a Liquidity pool so you can earn a nice APY. Sort of like a savings account for your crypto. So go to Pool menu, and search for USDC and ETH pool. Stable token pools are less riskier than any other ones; because you are protected on one side since stable is pegged to $1 at all times; and since the market right now only moves up, you should be ok with ETH.

When you are adding your tokens, you are adding liquidity to the USDC/ETH pool and you become an LP or a liquidity provider.

Click Supply and Confirm the transaction. This will cost you a network fee and you need to make sure you have enough ETH for this in your MetaMask Wallet. As you can see, I added $20 worth of USDC and the application matched it in ETH.

Sushi is what is called AMM (Automated Market Maker). There is no order book here and there is no match that happens; so you are providing funds on both sides of transaction. Please keep in mind to earn serious APY, you need to put in serious $. But please be sure to invest responsibly and you are not putting in more than you can afford to loose.

You are now a proud LP in the sushi rewards pool and you are earning SLP token, here is my position below. You can leave this here or you can make the SLP work for you and stake it into another rewards pool that takes SLP token.

Now you can go to Force DAO https://forcedao.com

On Force DAO site, navigate to Strategies and connect your wallet. Deposit SLP by clicking Deposit or +. I have already SLP in the vault, so mine is showing under Active Positions as below.

In Deposit window, choose Max and it will port all your SLP tokens. Note ETH/USDC combination here represents SLP. Click Deposit. In the next step you have to approve the transaction in MetaMask and pay the gas fee.

Now under Active Positions, you will see $50 SLP deposited as my position went from $69 to $109.

Harvest of rewards happens every couple of days so your earnings will be updated once that happens. Happy investing!