Ethereum: How To Earn Up To 12% Yield From ETH

Here’s how you can be earning up to 12% interest on your ETH from Defi platform. I learn about this from James Wang on Twitter. You can read the thread, to learn where the yield come from.

ETH, with a little help from @LidoFinance and @CurveFinance, can generate 12% yield. But where does this yield come from?

Let's break down the ponzu recipe. 🧫👇 pic.twitter.com/AeGGyiQqSz
— James Wang (@draecomino) May 31, 2021

If you are convinced that this is not a ponzu recipe, then read on for the guide on how to generate that 12% yield.

Lido has just introduced a new referral program. To support this site, you can use my Lido referral link to stake your ETH with Lido.

This guide assumes that you already have ETH in your wallet.

1. Head on to Lido Finance (with my referral link) and connect your wallet. Select Ethereum 2.0 and Stake now

2. Enter the amount of ETH to stake, and submit. You should receive a notification on your metamask wallet to confirm the transaction.

3. Once submitted, wait for the transaction to complete. Once completed, you should receive stETH in your wallet.

4. Once you have stETH, head on to Curve.fi stEth Deposit and connect your wallet. Enter ETH and stEth amount, and click on Deposit to provide liquidity. By providing Liquidity, you will earn the Base APY.

5. You will have to confirm the Approve transaction. Once that transaction completes, refresh and click on Deposit again.
You will have to confirm the Add Liquidity transaction. Once this completes, you will receive the steCRV LP tokens in your wallet.

If you don’t see this token, you can always Add token -> Custom Token, and add the contract number for steCRV LP token.

You can head on to My Dashboard.

And you can view your rewards there.

Staking your LP tokens

You can choose to stake your LP tokens to earn Rewards APY, by going to Curve.fi stEth Deposit and Stake unstaked in gauge. This will earn you additional CRV and LDO tokens, on top of the Base APY.

[update 17Jun2021] Lido is extending the LDO rewards for this pool for another 30 days, until 13Jul2021.

Gas Fees Inccured

In case you are interested, I spent a total of $29.14 (0.00587462214462 ETH) in transaction fees including staking the LP tokens on gauge. 🙂