A step-by-step guide to get the most out of Lazarus Pools! 💸
In our previous medium, we talked about Lazarus Pools in detail and now this medium will let you know step-by-step how to take the most out of Lazarus Pools. So, without wasting time, let’s get started.
How to Single stake without owning the wrapped token?
1. Just have BNB in your wallet
2. Input the amount of BNB you want to swap for the wrapped token
3) Click the BNB button, and that’s it!
Wizard will hunt for the best price, complete the swap, and stake it all at once!
Alternatively, if you have wrapped tokens in your wallet already, all you would need to do is:
1. Click the “Approve” button.
2. Select how much of the wrapped token you would like to stake.
3. Click the “Deposit” or “Deposit All” button. As simple as that!
To withdraw your assets back into your wallet:
1. Input how much you want to withdraw
2. Click the withdraw button
SC immediately swaps the Wizard Vault Tokens you received(by staking) with the wrapped tokens and your $$ will appear back in your wallet in an instant!
But how do you get to take advantage of the auto-compounders and how does it work?
The magic of it all happens because of the Wizard…
Contract converts deposited tokens into stable LP token pairs and farms the LP tokens using an auto-compounder, all in the background.
The smart contract accumulates more assets, by reinvesting them on a daily basis — everything is on autopilot.
This is where the stated APY comes from, and this is why the Lazarus Pools is different from anything else in DeFi.
Now, take a look at different strategies that you can utilize.
In case you are a beginner and want to test this space out then what are you waiting for? Let’s get your feet wet!
Do you have BTC or ETH & plan to sit on them for 3+ years? That’s a great plan! But what if you could let your money work for you in the meantime?
Stake them & generate a yield. As Robert Kiyosaki used to say: “It’s only an Asset if it provides Cash Flow.”
2- Beat your Bank
We know that the low-interest rates are quite irritating and all you want to do is protect our money from inflation. Well, we have a perfect solution for it!
Stake BUSD & get a 3% ROI. Little-to-No Volatility, No Bears and Bulls, just hard cash, stored in a safe and profitable manner.
Do you want to utilize the upside of crypto, but don’t want to bet the farm? The procedure is quite simple.
- Start conservative and utilize “house-money” for more upside.
- Stake BUSD — -> put yield in BTC pool (or similar low-medium APY)
- Stake BTC — -> put yield in Solana pool (or similar medium-high APY)
4- Macro Belief
Do you play your own game and transfer gains into your macro belief on a regular basis?
That’s great! Keep doing it, and use the yield to accelerate the accumulation.
5- Active Portfolio
In case you are an active participant in the crypto space and prefer to make moves frequently. Then, within the Lazarus pools you can mirror a lot of your existing portfolio strategies that you have — just add some tailwind by adding some yield on whatever position you hold in this phase.
- Bullrun? Pool your BTC without impermanent loss.
- You’re in gains? Pool BUSD to slowly lock them in.
- Overheated market? Go all cash.
- NFT season? Get ETH.
- Bear market? DCA your pooled USD back into the macro assets.
- Depression? Scoop some high risks with the rest of your gains.
The Pools can reflect most of the common strategies you would use while minimizing the noise and reducing the crazy “where did I find my expired farm again?” moments.
One coin/token, one pool, and lots of strategies.
6- The Treasury
Lazarus pool is an opportunity for you to generate yield while holding your treasuries and waiting for the right moment If you’re running a company or a project and you’re building or holding your treasury to deploy at a later date.
Stay flexible, withdraw them at any given time, but earn a nice APY which you can either utilize to fund your own giveaways like we do within Inventors NFT, pay your employees a Bonus, or just grow it in a responsible way.
Many Projects reached out to us, looking for ways to do what we do — afraid of building on top of classic farms as it is hard to oversee the 5-year impact of their moves. When your mind is clouded by impermanent loss, farms running out, and the necessity to always pair some risk asset with what you actually want — it can all get a bit maddening.
With that in mind, utilizing the Lazarus Pool is a no-brainer, as you just stick to what you have while yielding and compounding upon it.
Within the Lazarus Pool, there are numerous options and possibilities. Master Classes on how to use these new tools safely will be held over the coming days, weeks, and months. We are all on this journey together!