DappRadar has introduced RADAR, a utility token for the DappRadar ecosystem that powers The World’s Dapp Store. Holding RADAR tokens gives users access to DappRadar PRO, but token holders can also make their tokens work for them using SushiSwap, and retain DappRadar PRO features. Here we will provide an overview of earning a passive income from your RADAR using the decentralized exchange platform SushiSwap.
The process can seem a bit technical and wordy, but it is pretty straightforward.
How to Add Liquidity & Stake RADAR
Firstly, to receive liquidity provider tokens, you need to deposit an equal dollar value amount of ETH and RADAR in the liquidity pool on SushiSwap. If you claimed RADAR through our airdrop, you just need to get ETH. If you need to get RADAR, you can do that on SushiSwap as well.
1. Get RADAR and ETH tokens in proportionate amounts. Always have extra ETH to pay fees. In this case, it would be best to have around $100 extra in ETH.
2. Head to SushiSwap using this link. You will land on the below page. You can see 8697 RADAR at the top, and that means you need to add 0.0666609 in ETH to provide liquidity and get LP tokens that represent your position in the pool.
3. Approve RADAR by clicking the tab at the bottom. Once connected, your METAMASK wallet will ask you to confirm RADAR — a fee of around $10 will be applicable. This is a one-time only fee to utilize RADAR for the first time on SushiSwap.
4. Once RADAR is approved, click Confirm Adding Liquidity.
5. Check the details. In this example, you would receive a 0.09% share of the liquidity pool and 21.7336 LP tokens.
6. Click Confirm Supply. Metamask will once again prompt you to accept and pay a gas fee.
7. Now click the Staking tab and deposit the MAX.
8. Click approve. Metamask will again prompt you to approve the transaction and pay a gas fee of around $10 once again.
9. Once approved in Metamask, click Confirm Deposit. Once more, Metamask will prompt you to accept the transaction and pay a gas fee.
10. That’s it! You will see a Your Farms tab on the top left of the page. Click that to reveal the details of your stake.
PRO and vested
Now, you are a DappRadar PRO user, and your RADAR is working for you on the SushiSwap farm. The fees involved at the time of writing added up to about $50, but gas fee prices change, so it’s worth using a tracker to find the best times.
What you then choose to do with your rewards is up to you entirely. You can add more liquidity to the pool, swap them out for another token or simply hold them. Either way, the opportunity represents a great way to keep using DappRadar PRO and get RADAR tokens working for you.
