Depositing into Compounding Strategies from Trader Joe
Last updated
Last updated
This guide covers how to deposit into our compounding strategies on Snowball for Trader Joe liquidity pools. To understand more about how our compounding strategies work, check out our Compounding docs.
1) Go to the Snowball website and click on the Compound & Earn page on the sidebar.
2) Find the pool you want to deposit into. In this example, we will use the AVAX-SNOB pool from Trader Joe.
If you would like to utilize Snowball's one-click-deposit functionality, you are able to skip steps 3, 4, 5 and 6 by simply depositing AVAX.
3) Click on Get JLP:
4) This will take you to the Trader Joe website. There you can select the amount of tokens you want to deposit. Once you've done that, select Approve SNOB (Will depend on what token you are depositing). You will be asked to approve the transaction in your wallet.
5) Next, click Supply. You will be asked to approve the transaction in your wallet.
You now should have LP tokens in your wallet. Don't worry if they are not displayed on MetaMask, since you haven't added them yet.
6) Go back to the Snowball Compound & Earn page. If you don't see your balance updated, simply refresh the page.
7) Find the same pool as before (AVAX-SNOB in this example) and click Deposit.
8) Enter the amount of LP tokens you would like to deposit, then click Approve. You will be asked to approve the transaction in your wallet twice.
9) Click Deposit. You will be asked to approve the transaction in your wallet twice again.
Congratulations! Your funds have now been deposited on Snowball's compounding strategy. If the pool you've chosen has SNOB rewards, you can Claim your rewards at any time. You can also withdraw your funds at any time by using the Withdraw button. To add more funds to the same pool, just follow the same steps!
