bZx is excited to announce that $BZRX has been added to the SushiSwap Onsen Menu. Liquidity pool providers of the $BZRX/$ETH token pair on SushiSwap will now be receiving $SUSHI rewards!

The $BZRX/ETH Onsen pool is live on SushiSwap. This exclusive DeFi liquidity farming program run by SushiSwap will assist in fostering liquidity on Layer 1 and improve the $BZRX trading experience by reducing slippage and increasing liquidity.

As with all Onsen pools, providers of liquidity on Sushiswap for the $BZRX/ETH pair who stake their LP tokens on Sushiswap will receive $SUSHI rewards on top of the liquidity provider trading fees. Initially, five allocation points have been allocated to the $BZRX/ETH pair and will be adjusted every two weeks based on trading volume.

The $BZRX integration on SushiSwap Onsen is just the beginning and there are opportunities for even greater collaboration between SushiSwap and bZx which will be explored in the future. One example is we will soon be introducing a native Sushi LP staking module which will accept deposits of Sushi LP, stake in onsen in the background, and pass rewards on to users.

Users can view the current Onsen menu and stake their LP tokens here: https://app.sushi.com/farms/special

How does Onsen work?

SushiSwap Onsen hosts various external protocols to their very own hot springs (liquidity pools) to actively encourage users of these external protocols to stake their native tokens as liquidity. To participate in the bZx Onsen pool, users must provide a 50/50 split of $BZRX and $ETH.

As a reward for users adding $BZRX tokens as liquidity to the BZRX/ETH pool, Onsen rewards users who are supplying liquidity to their Onsen pools with continual rewards, in the form of their own native token: $SUSHI.

Before adding liquidity, please be aware of the impermanent loss risks involved with providing liquidity to any trading pair.

How to get started providing liquidity with SushiSwap Onsen?

The first step is to add liquidity to the $BZRX / ETH Pair:

  1. Head over to the SushiSwap $BZRX / ETH token page on SushiSwap.
  2. Select the “+ Liquidity Button”
  3. Select the $BZRX token amounts you would like to add.
  4. Confirm your choice by pressing Supply.
  5. A notification box will appear confirming the amount of Pool tokens you will receive. Press confirm supply when ready.
  6. Confirm transactions using your Ethereum wallet.
  7. Once confirmed you will be supplying liquidity to the Sushipool, and you will receive a corresponding LP pool token balance in your wallet.

Once you have successfully received your LP tokens, the next step will be to stake your LP pool tokens.

Thanks to the Onsen program, LP providers on SushiSwap multiply their earnings and earn additional $SUSHI token rewards by staking their $BZRX/ETH Pool Tokens which they received for adding pool liquidity:

  1. To get started, visit http://sushiswap.fi/farms/special and find the $BZRX pool
  2. On the right hand side, press Approve Staking. Confirm the choice with your Ethereum wallet.
  3. Following a successful transaction, you will be able to stake your $BZRX/ETH SLP Tokens.
  4. On the right hand side again, press Stake.
  5. A popup box will appear, where you select the amount of SLP tokens you want to stake.
  6. Upon confirmation of the transaction, you will now be staking your $BZRX tokens entitling you to a $SUSHI Onsen reward.
  7. Visit sushiswap.fi/farms/special to view/confirm your staked balance.
  8. To unstake, press Unstake and enter the amount of tokens to unstake.

Track your SushiSwap Onsen Rewards

To track your rewards, visit sushiswap.fi/portfolio. On this page you will be able to view the following:

  1. Your Total wallet balance
  2. Sushi Balance
  3. Liquidity Positions
  4. Farm Value

These components are described in more detail below.

  1. Your Total Wallet Balance is the combined value of your Sushi Balance, Liquidity Position and Farm Value, including both your staked and unstaked tokens within SushiSwap.
  2. Your Sushi Balance represents your total balance of SUSHI tokens, including those that are Harvestable, Locked (⅔), Unstaked and Staked.
    • Harvestable: Your share of earned SUSHI tokens (earned from staking) which are free to transfer/trade immediately. This represents ⅓ of your earned staking rewards.
    • Locked (⅔): The last ⅔ of your earned staking rewards are vested for 6 months. After 6 months these tokens become Harvestable and are thereby free to trade/transfer.
    • Unstaked: The share of your SUSHI tokens which are currently unstaked and not earning xSUSHI.
    • Staked: The share of your SUSHI tokens which are currently staked and earning xSUSHI. xSUSHI is a token similar to SLP tokens which you receive in exchange for staking your SUSHI.
  3. Your Liquidity Positions displays the share of tokens which you are adding to the $BZRX Liquidity Pool, including your original balance as well as any earned fees. Your earned fees are a product of the pool trading volume, together with your share of the pool. Please note that if you are staking your $BZRX SLP Tokens (to earn additional SUSHI rewards), they will not be displayed in this section.
  4. Your Farm Value displays the value of your staked $BZRX SLP Tokens, including your Rewards (SUSHI rewards from staking) and P/L (fees earned from providing pool liquidity).

More information about how the SushiSwap Onsen works is available here: https://forum.sushiswapclassic.org/t/simp-2-onsen/1546

About SushiSwap

SushiSwap is a decentralized exchange (DEX) currently on the Ethereum blockchain. It’s built on an automated market-making (AMM) algorithm that ensures liquidity for a wide range of ERC20 tokens.

As always, please feel free to connect with the team via Telegram or Discord. Check out our Help Center to answer all of your questions about bZx, Fulcrum, and Torque.

About the author
Kyle J Kistner
CVO @ bZx. Product, Protocol Design, & Token Economics.