ibETHv2/ALPHA pool

ibETHv2/ALPHA pool has been added to SushiSwap.fi, allowing liquidity providers to provide liquidity and stake LP token to earn SUSHI. SUSHI incentive is a part of SushiSwap’s Onsen program.

ibETHv2 is an interest-bearing token that users get when lending ETH on Alpha Homora V2. This means that liquidity providers will earn interest on ETH while providing liquidity to the pool.

ibETHv2/ALPHA pool is also now supported on Alpha Homora V2.

Differences between using ibETHv2/ALPHA on SushiSwap vs. on Alpha Homora V2

When supplying liquidity

  • via SushiSwap

    • Users would need to have both ibETHv2 and ALPHA.

  • via Alpha Homora v2

    • Users have the option to supply only ibETHv2 or ALPHA or both assets in any proportion.

    • Users can supply ETH (instead of ibETHv2) since Alpha Homora V2 will help convert ETH to ibETHv2 (by lending on Alpha Homora v2). This means that even if liquidity providers have only ETH, you will be able to provide ETH to the ibETHv2/ALPHA pool through Alpha Homora V2.

When staking to earn SUSHI

  • via SushiSwap

    • Users would need to approve staking of LP token on the Onsen page.

  • via Alpha Homora v2

    • Alpha Homora v2 user interface would prompt the user to the staking step.

When unstaking and removing liquidity

  • via SushiSwap

    • Unstake to earn SUSHI

    • When removing liquidity, users will get both ibETHv2 and ALPHA.

    • To convert ibETHv2 to ETH, users can go to Alpha Homora V2 → Earn page → withdraw ETH accumulated interest earned.

  • via Alpha Homora V2

    • Unstake to earn SUSHI

    • When removing liquidity, users will get everything back in ALPHA.

How to provide liquidity to ibETHv2/ALPHA on Alpha Homora V2?

Scenario 1: Liquidity providers have ibETHv2 (and ALPHA)

  1. Click 'Supply & Stake' on 'ibETHv2/ALPHA (accepting ibETHv2, ALPHA)' pool on Alpha Homora V2. (left pool)

2. Enter how many ibETHv2 or ALPHA or both you want to supply to the pool.

3. Confirm supplying liquidity to ibETHv2/ALPHA pool.

4. Confirm staking to SushiSwap's MasterChef to start earning SUSHI.

Scenario 2: Liquidity providers have ETH (and ALPHA)

  1. Click 'Supply & Stake' on 'ibETHv2/ALPHA (accepting ETH, ALPHA)' pool on Alpha Homora V2. (right pool)

2. Enter how many ETH or ALPHA or both you want to supply to the pool.

Users can supply ETH (instead of ibETHv2) since Alpha Homora V2 will help convert ETH to ibETHv2 (by lending on Alpha Homora v2). This means that even if liquidity providers have only ETH, you will be able to provide ETH to the ibETHv2/ALPHA pool through Alpha Homora V2.

3. Confirm supplying liquidity to ibETHv2/ALPHA pool.

4. Confirm staking to SushiSwap's MasterChef to start earning SUSHI.

Scenario 3: Liquidity providers have ALPHA

In this case, liquidity providers can use any of the pool. The left pool accepts ibETHv2 and ALPHA. The right pool accepts ETH and ALPHA. Both pools supply the liquidity to the same ibETHv2/ALPHA pool.

How to remove liquidity from ibETHv2/ALPHA?

1. Click 'Unstake & Remove Liquidity' under 'Your Liquidity' section.

2. Unstake LP tokens to receive SUSHI.

3. Remove liquidity and receive everything back in ALPHA.

Note: To receive ibETHv2 and ALPHA, users need to remove liquidity directly on SushiSwap.

Risks of providing liquidity to ibETHv2/ALPHA pool

Similar to other liquidity providing pools, providing liquidity to ibETH/ALPHA pool bears impermanent loss risk. See more about impermanent loss here.