How to deposit in a vault
Last updated
Last updated
Our vaults require specific liquidity provider (LP) tokens or single assets from to be deposited into them in order for us to optimise yield for users. These need to be on the blockchain specific to the vault.
On reaching the Eleven.finance site for the first time you will be greeted with the below image.
Connect the appropriate web3 wallet by selecting the button to your corresponding wallet provider. For a guide to connecting your Metamask wallet to various chains, check these links: Avalanche, Binance Smart Chain, Polygon, OKExChain, Fantom.
Other compatible wallet setup guides are also available through this link.
Once your wallet is successfully connected to the Eleven.finance you will see the a green circle and connected chain in the top left corner of the page, as well as an indicator for the wallet address that is connected.
To change between chains at any time simply select the box containing the green button, or if the vault required is on a chain your wallet is not currently connected to you will see a 'uses CHAIN' button that will prompt your wallet provider to switch chains.
Finding a vault can be made easier by using the search and filter row at the top of the page. This allows you to sort vault offerings by network/chain, group, if you have tokens in your wallet (hide zero balances), if you have assets already deposited (deposited only), a search by name filter (magnifying glass) or the ability to order vaults by TVL or APY (drop down menu).
Once you've found the vault you are looking for and either hold the asset (if this is a single asset vault) or the liquidity provider token (LP). In this example if we want to add to the WEX-BNB vault, we see it 'Uses WaultSwap'. So we need to create an LP on WaultSwap. We can access links to buy the tokens or add liquidity by expanding the vault row and following these (see image 2 below, on bottom right).
For those vaults that 'Uses pancakeswap' a guide to completing this (as well as other great Pancakeswap documentation) can be found here.
Once done, and we've located the vault on Eleven.finance we will see a row similar to that above. We can see we have a balance of 14.277 LP tokens in our wallet, and 0 deposited on Eleven.finance. We can also see the APY, APRD (daily APR) and TVL in that vault on Eleven. Please see here (LINK) for more details about APY and APR.
Next we want to approve Eleven.finance to spend our wLP tokens in order to stake them in the vault, if we select the row, it expands giving us more detail.
If we select the "Approve" button and confirm the transaction the button will then become the "Deposit".
Selecting the 'Deposit' button we are greeted with a pop-up where we chose or enter the amount of wLP tokens we would like to deposit and click "Deposit" or if we want to deposit all our tokens you can select "Max", in this example we will deposit all.
On confirming and completing this transaction our view will change to the following:
This now shows we have deposited our wLPs in the vault. We can see that we have deposited 14.277 WEX-BNB wLP tokens into the vault. You will earn compounding wLP rewards. As compounds or harvests occur you will see the 'Deposited' number increase, reflecting your growing wLP position. Please note the dollar value below this is an estimate of the LP value in USD. This value can fluctuate dependant on the value of the underlying tokens, however the number of LP tokens will always increase.
