To earn revenues in a bear market: how to participate in Onion Mixer LP mining?

Onion Mixer has now officially launched on PolyGon. As the leading coin mixer in DeFi, it successfully continues its strong BSC performance on the new public chain. In less than an hour of its launch, the coin mixing volume has exceeded $17 million, and the number of transaction counts has surpassed 1,600. With transaction mining APY as high as 4278.85%, users participating in early minings have already received enormous benefits.

We have introduced the tutorials for participating in transaction mining in detail in the link below. In the article, it also explains how to configure the PolyGon network at MetaMask and how to buy USDC at Gate and transfer it to PolyGon, for more information please click here.

https://mp.weixin.qq.com/s/i06cMDTx8lgXV8zJ1BT9tg

(The following operations are based on the fact that you have prepared a PolyGon wallet, USDC, and MATIC as the on-chain fee)

Here is a guide on how to participate in Onion Mixer’s LP mining.

Users familiar with Onion Mixer know that Onion Mixer has three mining choices, transaction mining, LP mining and holding mining (you can check the white paper for details). From the data performance of BSC, the LP mining boasts the highest yields and is the most stable mining model compared with the other two mining methods.

Even though it has been launched for only a month, Onion Mixer successfully maintains a yield of 1000% for LP mining on BSC. Therefore, if you have missed the chance of participating in early minings on PolyGon, don’t worry! The yield of LP mining is extremely high as well. It can help you quickly recoup your investment principal in this down market.

Below is a step-by-step tutorial:

LP mining consists of two steps.

Obtaining LP tokens: this requires you to go to SushiSwap to provide liquidity for the OMT/USDC pair.

Stake LP tokens: stake LP on Onion Mixer’s LP Mining page to start mining.

1. Prepare both USDC and OMT tokens

USDC is relatively easy to obtain. You can buy it directly on Gate and transfer it to PolyGon. The link below is the tutorial.

https://shimo.im/docs/PcKDHW8QYyvXjRkW

Because Onion Mixer’s deployment on PolyGon is not through the cross-chain bridge, the OMT on the original BSC can not be transmitted to PolyGon, all OMT can only be obtained through transaction mining, transaction mining tutorial, please see: https://mp.weixin.qq.com/s/ i06cMDTx8lgXV8zJ1BT9tg

Then, withdraw the transaction mining rewards OMT to the wallet.

Enter the transaction mining reward page (https://app.onionmixer.com/#/mining), click on “CLAIM TO VAULT” and complete the relevant confirmation operation in the wallet.

Visit the Vault page (https://app.onionmixer.com/#/vault), click “APPROVE” for authorization (only required for first-time use), then fill in the input box on the right with the OMT number you want to withdraw. Click the “LEAVE” button and complete the relevant confirmation operation in the wallet.

Go to SushiSwap’s OMT/USDC trading pair liquidity page: https://app.sushi.com/add/0x1a8Cd27a4ED1D0d9D566516156EF963c20DBE207/ 0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174. Click “Approve OMT” and “Approve USDC” respectively for authorization (only required for first-time use), and then complete the relevant operations in the wallet.

Fill in the input box with the number of OMT or USDC you want to add to the liquidity pool. You only need to choose one from the two input boxes and the system will automatically calculate the number needed for the other token.

After the input, click on “Confirm Adding Liquidity” and confirm the information in the pop-up window. Click “Confirm Supply”.

After your confirmations in your wallet, please wait for the transaction to complete, after which, LP tokens will be automatically sent to your wallet.

Return to the Onion Mixer mining page (https://app.onionmixer.com/#/mining) and choose OMT/USDC SUSHI-LP. Then click “APPROVE” to authorize the operation (only for first-time use).

Input the number of LP tokens you want to stake. Or you can click on “MAX” to stake all your tokens and then click on “DEPOSIT”.

Complete confirmations required in your wallet and complete the staking. You now can start LP mining.

You can visit this page (https://app.onionmixer.com/#/mining) to check your LP mining revenues at any time. Click on “CLAIM TO VAULT” to deposit your earnings into the staking pool to receive dividends. In this way, you can enjoy the dual benefits of mining and dividends.

If you want to get higher LP mining income, you can stake more LP tokens to get a higher liquidity share by following the tutorial and repeating the above operations.