Update August, 2021: This guide is now outdated.
ARCx is a DeFi platform that allows you to stake your interest-bearing tokens as collateral to borrow STABLEx loans. You can then pool the STABLEx along with stablecoins into a Curve Metapool to farm rewards.
ARCx requires users to wrap their stETH into wstETH to be compatible with their platform. You can wrap your stETH here.
To stake your stETH as collateral and borrow a loan:
Visit stake.lido.fi/wrap to wrap your stETH tokens.
Visit app.arcx.money/mint.
Connect your Ethereum wallet.
Choose the amount of wstETH to deposit, as well as the utilisation ratio percentage. A higher utilisation ratio allows users to borrow more STABLEx tokens, but also exposes the user to higher liquidation risk.
Press ‘Mint’ and confirm the transaction using your Ethereum wallet.
To add your STABLEx into the Curve Metapool:
Navigate to the ‘Deposit’ tab in the top right corner.
Choose the amount of STABLEx to deposit.
Choose the amount of secondary tokens to deposit into the Curve pool. Your options are USDT, DAI or USDC.
Confirm the expected output - balance and max slippage - and press deposit once ready.
Confirm the transaction in your Etherem wallet.
On app.arcx.money/farms you should be able to see the total expected yield from ARCx and LDO tokens.
Users can stake their Curve LP tokens to earn additional LDO and ARCx tokens allocated by the respective DAOs. The Lido DAO has committed to allocating 100,000 LDO tokens for the first month of this initiative whilst ARCx will be allocating 125 ARCX tokens.
You can view the full article here.