Instrumental Finance
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How-to Guides
Locking, staking and claiming airdrop
Getting Started
- Connect your account with MetaMask, WalletConnect, OR view a public account by providing ETH address or ENS domain.
Locking your STRM for veSTRM
You can lock your STRM for veSTRM — a voting power token that allows you to be able to participate in governance and also share in the 5% of STRM to be distributed to veSTRM lockers. $STRM lockers earn a share of the revenue generated from Instrumental’s platform. This revenue will be 1% of notional on the strategy plus a 15% performance fee of the strategy. 50% of this revenue is distributed to stakers of Instrumental’s token. In the future, STRM stakers will earn additional revenues (veSTRM) and boost rewards from liquidity just like veCRV (voting escrow CRV) holders, which will be on the basis of a time-weighted function.
The $STRM token lock period can be set by the user as 1 month, 3 months, 6 months, 1 year, or 2 years, with each timeframe having their respective annual percentage yields (APYs).
NOTE: $STRM APY increases with increased lock time. $veSTRM decreases with lock time. Also note, as the lock periods are calculated on blocktime, these are subject to change by +/- 7 days.
- After connecting a digital wallet as described above, visit the Instrumental app's lock page: https://app.instrumental.finance/lock
- Lock your STRM for veSTRM and revenue share by selecting "Deposit": With your connected wallet, you may lock your STRM for various periods, with longer lock periods incentivised via higher APY.
- First enter the amount of STRM you wish and select the period to lockup for and click "Approve" on the instrumental app, which directs you to "Confirm" the transaction in your connected wallet:
- Once approved, you may then lock the desired amount of STRM by pressing "Lock":
- Your position will then be updated for your locked amounts:
- You can then manually add the veSTRM contract to your wallet to your veSTRM token balance, which reduces with time until it turns to zero at the end of your lock period. The veSTRM contract is located at: https://etherscan.io/token/0x62Ae88697782f474B2537B890733CC15d3E01F1d?a=0x8d520d016246f31fe7a676648f1fd5e55ec5562d
Creating and Managing LP Positions
- Creating and Managing LP Positions: Create a position in SushiSwap or another connected DEX based on your preferred tick ranges, given the current price and distribution of liquidity in your selected pool. Here the link to add liquidity to the ETH-STRM SLP page on SushiSwap where this can be accomplished. From this page, select the amount of ETH/STRM you would like to provide, and supply this liquidity. Please note you must also have a digital wallet connected to SushiSwap to accomplish this.
- Once you have obtained ETH-STRM SLP tokens as described above, in the Instrumental app, you can select how many of these SLP tokens to deposit and click "Approve":
- From within this app, you can easily add or remove liquidity from your existing position (represented by the LP tokens in your connected wallet) in the context of your position's metrics, and move your position across DEXes on various layers and chains that are connected to Mosaic. This will be accomplished through first the movement of, then eventually the swapping of LP positions across different layers and chains. Swapping is the best (though most complicated) method for movements of tokens and LP positions, as price changes less during trading than during selling and repurchasing, as there is more liquidity available.
- You can “Withdraw” after the staking period duration expires to withdraw your SLPs and harvest your STRM tokens:
- Position Analysis: From within the Instrumental app, you can view all of your outstanding positions associated with the account, including performance metrics such as profit and loss (PnL), annual percentage rate (APR), changes in asset compositions, gas costs, etc. Here you can also view the current top APR pools and summary statistics for each, including price divergence, reserves, trading volume, etc.
- Implementing Strategies: Instrumental is developing a methodology for users to input metrics to optimize and automate their LP positions, cross-chain and cross-layer. This provides the ultimate ease-of-use and helps to maximize APY.
Claiming your airdrop
- 5% of the $STRM token supply has been distributed to those who bridged on Composable’s Mosaic, Celer’s cBridge v1, Hop protocol, and Connext’s bridge and automatically be eligible to claim the airdrop.
- Press "Claim" and then confirm your transaction/claim in your connected wallet:
Happy Airdrop!
Last modified 5mo ago