Optimism Incentives
Learn how to stake your Gamma LP tokens for Optimism (OP) incentives.
OP Labs Phase I Optimism LM program began on March 22, 2023.
Phase I will last three weeks until April 12, 2023.
Uniswap's Phase II Optimism LM program concluded on February 8, 2023.
Phase III is TBA at the discretion of the Uniswap Foundation.
Gamma's Optimism incentive program is an internal incentive program. Creating the LP tokens and staking the LP tokens for rewards are both done on the Gamma App.
To begin, you'll need to familiarize yourself with Optimism, set up your wallet to view Optimism tokens, and switch the network over to the Gamma App. Head to our Optimism guide for information, bridges, links, and more.
Once you have funds on Optimism, you can purchase the required tokens on Uniswap V3.
To participate in the Optimism incentive program, you'll need to deposit into one of Gamma's incentivized vaults.
The incentivized vaults are:
- wstETH-ETH 0.05% - 6,250 OP
- USDC-DAI 0.01% - 6,250 OP
- WETH-DAI 0.05% (Wide) - 4,687 OP
- WETH-DAI 0.05% (Narrow) - 1,563 OP
- OP-USDC 0.3% (Wide) - 3,125 OP
- OP-USDC 0.3% (Narrow) - 3,125 OP
You can use our deposit guide below for detailed instructions on depositing into a vault, but we'll cover it briefly in this guide.
We'll use a Dual-Sided deposit into the USDC-DAI position for this guide.
To begin, go to the Gamma App, connect your wallet, and change the network to Optimism. The incentivized vaults will be marked with lightning bolts on the APR value. Click on the USDC-DAI vault to go to the detail page.
On the detail page, you'll find information, a widget to deposit or withdraw funds, and a special widget on the bottom right to deposit LP tokens.
The logic of the deposit is simple.
- 1.Approve USDC
- 2.Approve DAI
- 3.Deposit USDC and DAI
- 4.Receive LP tokens
- 5.Approve LP tokens
- 6.Stake LP tokens
After every step, the UI should indicate that you've moved on to the next one. If not, try refreshing the page.
The Gamma dashboard only shows your positions if they are LP tokens unstaked in your wallet. If you stake your LP tokens for rewards, count on your LP tokens disappearing from the dashboard. That does not mean they are gone. They are just staked in the rewards contract.
Let's start by approving funds, depositing, and acquiring LP tokens.
Going back to the main dashboard, you can see your active LP position.
Let's return to the pair detail page and stake the LP position for rewards. Once there, go to the staking widget on the bottom right.
On the staking widget, you can see your LP token balance and options for incentive staking.
- The Stake tab allows you to stake your LP tokens. Requires approval and deposit
- The Redeem tab allows you to withdraw your LP tokens and rewards.
- The Claim tab allows you to claim your rewards without withdrawing your LP tokens.
We're going to start with staking. Sign both the approval and deposit to stake your LP tokens.
Success! You've now deposited your LP tokens into the staking reward contract.
You have two options for claiming tokens:
- The Redeem tab allows you to withdraw your LP tokens and rewards.
- The Claim tab allows you to claim your rewards without withdrawing your LP tokens.
In this example, we will claim our rewards and withdraw our LP tokens using the Redeem tab. But before we do, let's check the Claim tab to see our rewards.
Looks good! Let's get started by heading to Redeem tab. Press "Max" to remove all your LP tokens from staking.
Checking Etherscan afterward, you can see that the transaction was successful. Both the LP tokens and the OP rewards were claimed.
Once you have claimed your rewards, you can continue to provide liquidity for the vault (and earn fees) or withdraw your funds from the vault by dissolving your LP tokens.
We have a specific guide below for withdrawing a liquidity position, but we'll review it again with our current example.
To withdraw your funds, go back to the pair detail page and select the withdraw tab from the deposit widget. Note the percentages of your position, and if you choose to, proceed with withdrawing from the vault
Success! Let's double-check it on Etherscan, as this was a complicated transaction.
- Red Box: Uncompounded fees going from Uniswap V3 to the Vault
- Green Box: A portion of the fees taken from the Vault for GAMMA holders
- Blue Box: Your LP position is being returned to you from Uniswap V3
- Yellow Box: Remainder of the fees being returned to you from the Vault
- LP tokens dissolved
Congratulations! You've participated in Gamma's Optimism incentive program. We hope you join us for other exciting incentive programs.
Last modified 3d ago