I’m pretty new to defi and I don’t quite understand how staking lp tokens work. I’m using zoomswap on iotex. My question is are all of the rewards from staking lp tokens rewarded in ZM (the exchanges token) ? Or do you get intrest back in whatever crypto was used to create the lp tokens? If so are those paid when you split the lp tokens?
Basically what I’m asking is if I stake my liquidity in a pool do I still get my share of the .3% fees from swapping or does the exchange use my liquidity and reward me back with only ZM?
Yes, you should have your share of the 0.3% TX fees as well as your APY rewards in your LP tokens just like the way I’m earning over 120% APY for participating in UDO/USDC pool aside from the 0.3% I earned directly from Uniswap for the TX fees.
How’s Defi on IOTEX? How are gas fees?
Gas fees are way small. Like .01-.05 iotx per transaction. That’s why I chose it to start because.
Right now, I am staking with the UnidoEP beta testing g reward program with a daily reward of 0.35%on UDO, and I am happy with it!
When you interact with any dex, you will know that by providing liquidity, you have the opportunity to earn yields relative to your share of the pool plus your fees. Meaning that you get rewards by helping the dex do its work. I added two token in a 1:1 ratio, in this cases that is sylo/Eth. I am already earning liquidity pools fees and supplying liquidity as well.