Guide: how to migrate sETH liquidity on Uniswap
Please note (July 23, 2020): this incentive is now over — providing sETH liquidity on Uniswap is no longer rewarded.
Last week we announced that due to a contract upgrade, sETH liquidity providers on Uniswap would need to migrate their ETH and sETH into a new liquidity pool on Uniswap between September 18 and September 25. This post will explain the simple process.
1) Firstly, select the 'Pool' tab at Uniswap.Exchange.
2) Where it says 'Add liquidity,' open the drop-down menu and select 'Remove liquidity.'
3) Select 'sETH (old) as the Pool token, enter the full amount of sETH liquidity you're providing, and confirm 'Remove liquidity.'
4) Once this transaction has been processed, open the 'Remove liquidity' drop-down menu and select 'Add liquidity.'
5) Select 'sETH (new)' as the Pool token, unlock it (which is what you need to do on Uniswap whenever you're interacting with a token for the first time), enter the full amount of sETH liquidity you wish to provide, and confirm 'Add liquidity.'
And that's it! Remember, you need to migrate by Wednesday, September 25 ~8pm (AEST) or you risk your sETH being frozen. The full explanation for the process, including how sETH LP rewards will be distributed, is available at the previous blog post here.
As always, if you have any issues with this process, please come ask our team/community for guidance in Discord.