Introduction to stETH on Curve Finance
The stETH/ETH pool on Curve Finance is a liquidity pool containing stETH and ETH. Users can interact with these pools to purchase stETH or ETH with low slippage. Any transactions that take place within this pool are paid out to liquidity providers via trading fees in CRV.
Users who provide their liquidity to this pool will receive LP tokens in return. They can then stake their LP tokens into the Curve gauge to receive trading fees in CRV alongside the newly proposed incentivised rewards; LDO and CRV.
Visit www.curve.fi/steth/deposit and connect your wallet.
Provide liquidity in the Curve stETH pool by clicking “Deposit & stake in gauge”.
Choose the proportion of ETH/stETH to stake (we recommend 50/50).
Modify the gas price and confirm the transaction.
Receive LP tokens in return.
These LP tokens should be automatically deposited into the gauge.
Start receiving LDO and CRV rewards alongside trading fees (in CRV).
When you deposit stETH to Curve, your tokens are split between ETH and stETH, with the precise balances fluctuating constantly due to price trading. This is done automatically and does not affect your share of the LDO distribution.
Using Curve Gauges
When using Curve, users can stake their LP tokens into the Curve gauge liquidity system to earn additional trading fees (CRV) and incentivized rewards (CRV + LDO). To stake your stETH tokens in gauge:
If you have not made your first deposit, press “Deposit and stake in gauge”. This will automatically stake your deposited stETH and you will start earning steCRV.
If your stETH is already deposited but not staked, press “Stake unstaked in gauge”.
Using the ‘stake %’ field, choose the amount you want to stake. This can be unstaked anytime.
Please note that when you stake your LP tokens - steCRV - using gauge, they will no longer be visible in your Metamask wallet. They will be visible again upon unstaking.
Claiming Pool Rewards On Curve Finance
Every time someone trades on this Curve pool you will receive trading fees in CRV. They accrue automatically every trading tx and you do not need to do anything here.
To claim your rewards:
Visit the Withdraw page.
Click on “Claim” to receive your rewards - sent to your wallet - and to keep staking.
To exit the pool entirely, click “Withdraw and claim”. Upon doing so you will receive your rewards and withdraw your tokens from Curve back to your wallet.
Withdrawing Tokens From Curve Finance Pools
Curve allows you to unstake and withdraw at any time, in the token of your choice. When unstaking from gauges you effectively unstake your stETH so you no longer earn steCRV tokens.
Unstake: To no longer stake your stETH in a Curve gauge to earn fees and additional steCRV LP tokens.
Withdraw: To withdraw your tokens from Curve to your wallet.
There are 3 options when withdrawing from Curve - withdraw, withdraw & claim & unstake from gauge. To withdraw your tokens from Curve you will first need to unstake if doing so. To unstake your stETH from Curve:
Visit the Withdraw page.
Access the ‘advanced unstaking options’ towards the bottom of the dashboard.
Here you will see an overview of your staked tokens. Choose the amount of tokens you want to unstake and press ‘Unstake staked’.
After unstaking your tokens you can now withdraw from Curve.
To exit the pool entirely, click 'Withdraw and claim'. Upon doing so you will claim your rewards and withdraw your tokens from Curve back to your Ethereum wallet.
Fill in the total amount of tokens you wish to withdraw (share of liquidity) or the precise token amounts (in ETH and stETH).
Upon confirming the withdrawal using your Ethereum wallet, your tokens will be withdrawn from Curve to your wallet.
Frequently Asked Questions
1. Will I still receive daily stETH staking rewards when using Curve?
Yes, users providing stETH liquidity via Curve will still receive their daily Ethereum staking rewards which accrue to all stETH holders via the stETH rebasing mechanism. However, please note that if you deposit 100% stETH into the pool it will be automatically split into 50% ETH / 50% stETH. As such, you will only earn approximately half of the Ethereum staking reward that you otherwise would.
2. Why am I not seeing LDO / CRV rewards?
To earn rewards, you must deposit your LP tokens using Curve's Gauge system on dao.curve.fi.
3. Where can I see my current APY?
You can see your current APY at https://curve.fi/pools.