The most complete tutorial on Sushi liquidity mining

Please note: This article is original by Banyuan Yaqin. Plagiarism is strictly prohibited. Quotation is allowed. Thank you.

Preface

First, let's introduce a few main terms to help readers understand this article.

• Uniswap: A decentralized exchange that can use ETH to exchange various altcoins, and supports two-way exchange between altcoins.

• Collateralized liquidity: You can create a pool of funds on the Uniswap pool page, collateralizing ETH and another altcoin to provide liquidity (similar to locking positions)

• Sushiswap: A brand new (8.28) mortgage mining project. Unlike Yam, Sushi requires a mortgage liquidity pool to mine. This undoubtedly increases the difficulty for many novices.

Important Websites Uniswap: https://app.uniswap.org/ Sushiswap: https://sushiswap.org/

This article will use a simple and easy-to-understand style to guide readers step by step to complete the mining of sushi

Revenue Estimation

 Funding pool mortgage: 1.3ETH + 326 AMPL
Uniswap
Approve AMPL Fee: $5
Funding pool supply fee: $20 + $3 + $2
Sushi
Approve AMPL：$4
Stake AMPL-ETH: $20
Unstake AMPL-ETH: $20
Harvest：$18
Total cost: $92
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20 minutes output: 0.374 sushi
Estimated output in 24 hours: 26.928 sushi
Current price of sushi: $2.6
24h estimated income: $70

Tutorial

The tutorial is mainly divided into the following steps. If you know how to operate, you can skip the detailed tutorial and proceed directly to the actual operation.

Important note: After testing, the imtoken wallet cannot be approved in sushiswap. It is recommended to use MetaMask

• Prepare enough ETH and AMPL

• Add AMPL-ETH pool to uniswap pool

• Approve AMPL in sushiswap

• Pledge AMPL-ETH liquidity pool in sushiswap

• Harvest Sushi

1. Add AMPL-ETH pool to uniswap pool

https://app.uniswap.org/#/pool

This process includes two steps. Just follow the system prompts step by step.

• Approve AMPL

• Supply

2. Approve AMPL in sushiswap

https://sushiswap.org/farms

3. Pledge AMPL-ETH liquidity pool in sushiswap

When the approval is completed, a + sign will appear on the page. Click it to pledge liquidity for mining. If you want to withdraw, click unstake. If you want to receive sushi income, click Harvest on the left to redeem.

⛵️ Postscript

By analyzing the handling fees and expected income, we can see that the sushi project is very advantageous for whale participants, because no matter how many approvals, stakes, and harvests are made, the handling fees are almost the same. For small retail investors (such as me), this fee is sky-high.

I participated in this project not because I think highly of it, but because I am young and want to know what the world is like. If you are a reader who wants to make money, please carefully calculate your expenses and income before participating in mining.