A Guide to Providing YAK Liquidity on Camelot
Yield Yak recently partnered with Camelot DEX in order to provide deep liquidity for the YAK / ETH pair on Arbitrum, as part of its expansion into the ecosystem.
As part of this, the YAK / ETH pool on Camelot has been incentivized with three different sets of rewards for liquidity providers:
- $3,000 per month in GRAIL, split 80:20 between xGRAIL and GRAIL.
- 2,000 ARB per epoch from Camelot's Arbitrum STIP.
- 5 YAK per epoch from Yield Yak.
An epoch lasts 14 days, with the ARB and YAK incentives being renewed towards the end of each one.
How do I add liquidity for YAK / ETH?
The first step is navigating to the pool. You can use the below link to go directly to the pool or simply find it through their site-navigation via Earn --> Pools and search for YAK in the V2 tab:
Once there, you'll then see the details of the pool, as well as information such as the current TVL, fees, volume and potential rewards.
To add your own liquidity, you then need to click the Create position button underneath the pool details.
It will open with these options by default, but check that the V2 and spNFT options selected on the Add liquidity page, so you can be sure you're providing liquidity to the right pool and will be able to maximize your rewards.
You can then select the amount of YAK and ETH that you'd like to deposit to the pool. This is UniV2 style pool rather than a concentrated liquidity position, so you'll need to provide equal amounts of both, and entering an amount of one will automatically fill in the equivalent amount of the other.
In my case, entering 0.1 YAK automatically matched it with its equivalent value in ETH, 0.0444957058. Once happy with your position, you'll need to click the Approve YAK button at the bottom, which will require one transaction to confirm.
When the approval has confirmed, you can then click the Create Position button, which will display the confirmation modal above. At this point, you can choose to lock your liquidity or automatically stake it in the Nitro pool to boost your rewards, by using the controls in the Boost options section.
Once you're happy with your choices, you then just need to click the Create position button at the bottom of the modal to complete the process. This will require one more transaction, and will automatically update to let you know once it has confirmed.
You can then view and manage your liquidity and any accrued rewards by clicking the Earn button along the top of the page and then selecting the Positions option on the drop-down menu.
How do I earn the incentivized rewards?
Once you've finished providing liquidity to the YAK / ETH pool, you'll receive an spNFT representing your position. These are similar to receipt tokens on other exchanges, but offer additional utility and yield earning opportunities.
By simply holding the spNFT you'll automatically start earning the swap fees as well as the xGRAIL and GRAIL farm incentives. To earn the remainde of the incentivized rewards, you'll need to deposit to the Nitro pool for it if you didn't automatically do this when creating the position.
You can follow the link below to access the YAK / ETH Nitro pool directly:
Or you can find it on Camelot by selecting Earn --> Positions option from the drop-down menu.
This will take you to a list of your liquidity positions. You can then select your YAK / ETH V2 position to view the details of it, and next select Stake in Nitro button on the modal that appears when you do.
You'll then be prompted to select the Nitro pool you'd like to stake in. As there is only one for the YAK / ETH V2 pool, you can select that Nitro pool and click Stake to complete the process.
This requires one final transaction, and the page will automatically update once it has been confirmed.
You can then select the pool again to view the details, which will be updated to include the additional rewards for staking in the Nitro pool. You can see more information on these by selecting Nitro details button at the bottom of the Properties section.
This shows you the full details for the Nitro pool, such as the breakdown of your additional ARB and YAK incentivized rewards, the time until epoch when these rewards will be renewed, your TVL, etc.
xGRAIL and how to boost rewards
Camelot has several ways in which you can increase your rewards by utilizing xGRAIL. This is done through either Dividends, which allow you to earn a portion of the protocol fees, or through the Yield Booster, with which you can boost your LP rewards by up to 100%.
Both of these can be accessed by selecting xGRAIL along the top of the page, then choosing the relevant option from the drop-down menu.
The Dividends page allows you to allocate your xGRAIL to start earning your share of protocol fees, and you can claim any accrued rewards from here as well.
The Yield Booster page will list any LP positions you have and allow you to allocate xGRAIL to increase the yield farming rewards earned from these by up to 100%. This can be done by clicking the + button to the right of the pool you wish to boost.
The boost you receive changes with the amount of xGRAIL allocated to that position, and the amount required to receive the maximum boost will differ depending on the size of your position. You can select Get max bonus option to easily select the minimum amount required for the full 100% boost.
And that's it - you're now an expert on being a YAK LP on Camelot!
Thanks for reading and congrats if you made it this far! Any questions about this article, don't hesitate to tag me in the Yield Yak Discord and I'll be happy to help.
