Instructions

Go to the staking services website: With the coin you’d like to stake in your Kraken Wallet, visit the staking providers website. In this case, we will be going to the Dinero platform to stake ETH.

Connect your Kraken Wallet to the staking provider: Follow the guide located here to connect your Kraken Wallet to the provider of your choice. In this article's instructions, we will be using a mobile device, although you may also use a desktop computer.

Stake your ETH: From the home page of Dinero, you can tap Stake now. This will take you to a page where you simply enter the amount of ETH you’d like to stake, and tap Deposit. Confirm the transaction in Kraken Wallet to complete the stake.

Monitor your staking: Sometimes, staking providers provide you with a new coin that represents your staked balance. In Dinero’s case, the representation coin is iETH.

Go to the farming services website: With the coins you’d like to provide liquidity for in your Kraken Wallet, visit the farming providers website. In this case, we will be going to the Velodrome platform to provide liquidity for ETH/USDT0.

Connect your Kraken Wallet to the farming provider: Follow the guide located here to connect your Kraken Wallet to the provider of your choice. In this article's instructions, we will be using a mobile device, although you may also use a desktop computer.

Go to the Liquidity section: On Velodrome’s home page, scroll down until you see the Liquidity Providers section. Tap Deposit & stake to open the deposit.

Coin selection: On the next page, select the two assets. In the video above, we selected ETH and USDT0 to provide liquidity for the ETH/USDT0 pool.

Next, you’ll need to enter the amount of each coin you’d like to deposit. The deposit must be a 50/50 split in relation to US Dollar value. So if you want to deposit 5 USDT0 ($5), you’ll also need to deposit $5 worth of ETH.

When you enter an amount for one coin, the other coin's amount will automatically be calculated to match the USD value.

Deposit your assets: After filling out the amounts, you may need to approve 1-2 contracts to allow them to interact with your balances. Once all contract approvals are complete, you can tap the Deposit button to deposit your two assets into the liquidity pool.

Monitor your deposit: When you deposit coins into a liquidity pool, you’ll be given a new coin that represents your deposit in the pool. It is important to keep this coin as you’ll need it when you wish to withdraw your coins. In most cases, the platform you use to deposit your coins will have a dashboard where you can see your deposits, claim rewards, and withdraw from pools. You can also use the dashboard to monitor balances and other metrics. (See impertinent loss)