Steps for Staking SNX
- Transfer SNX to a compatible wallet: Metamask, Trezor, Ledger, Coinbase Wallet, Trust Wallet, Rainbow Wallet, and other Wallet Connect supported wallets.
- Bridge your SNX from Layer 1 (Ethereum) to Layer Two (Optimistic Ethereum). The bridge to process this is accessible at https://staking.synthetix.eth.limo/bridge
- You'll need to bridge over Ethereum through the optimism gateway to process transactions on Optimism, just like you would on layer one.
- Before going further, ensure that you're connected to the Optimism network by heading over to https://chainlist.org/. Once on chainlist, add Optimistic Ethereum to your metamask.
- Once you've migrated your Synthetix and have bridged over ETH to pay OE transaction fees, you can stake your tokens. You will do this by navigating to the staking menu. Once you're here, you will utilize the 'Mint Max' function and proceed with confirming your transaction.
- Transfer SNX to a compatible wallet: Metamask, Frame, Trezor, Ledger, Coinbase Wallet, Rainbow Wallet, or other Wallet Connect support wallets.
- Go to staking.synthetix.eth.limo and connect your wallet. Don't forget to connect your wallet to Optimism.
- Stake your SNX using the “Stake & Borrow More" button on the Synthetix Staking app. All of your SNX is now staked and earning rewards. Your account has also been issued sUSD debt that will fluctuate in value. To hedge this debt, use the one click debt hedging tool provided by dHedge.
Last modified 4d ago