Step 1: Go to bancor.network and search for the ENJ pool:
Note: The blue shield to the left of each pool indicates if a pool is “whitelisted” and therefore protected against impermanent loss and available for single-sided staking.
Step 2: View key metrics like “Liquidity” “Volume” and “APR”.
Then, click the “+” symbol to add liquidity.
Step 3: Under the Single-Sided Protection option, click “Stake and Protect”:
Note: “Space Available” indicates how much BNT or ENJ can be staked in the pool at any given moment. If there is no space available to stake ENJ, it means more BNT must be added, and vice versa. Alternatively, an LP can provide an equal value of both BNT and ENJ simultaneously (“Dual-Sided Liquidity”) and protect both stakes against impermanent loss.
Step 4: Select if you want to provide liquidity in ENJ or BNT. Click the dropdown menu to toggle between ENJ and BNT.
Input the amount of tokens you wish to protect. Clicking “Balance” will select the full balance.
Click “Stake and Protect” and confirm the transactions in the app and in Metamask (x2).
Your protected liquidity stake should now appear in the Protection screen. (If it doesn’t, click refresh). From the Protection screen, you can manage your stake and track returns over time.
By comparing “Protected Value” vs. “Initial Stake”, you can see how much value you have accrued in swap fees.
Note: “Current Coverage” refers to the impermanent loss protection accrued over time. “Protected Value” indicates the value of your liquidity stake with 100% protection.