Maximizing Your jAURA LP Rewards
"In this article, we’ll walk through how to stake your wjAURA and earn even more incentives on your position by staking wjAURA/ETH liquidity pairs on Balancer."
Jonesies,
You may have noticed that we have delivered yet another powerful DeFi tool for our users, jAURA. jAURA is an auto-compounding strategy that allows you to earn yield on your AURA tokens. Over time, each jAURA token will become backed by more underlying vlAURA.
Our integrations with Aura Finance, Balancer, and Redacted Cartel’s Hidden Hand allow you to collect yield automatically, without the hassle and gas expense of having to sell tokens, lock positions, or vote in bribe rounds yourself.
One of the best aspects of the jAURA system is Wrapped jAURA (wjAURA). Wrapped jAURA is a highly composable version of jAURA that can be LP’ed to earn additional rewards. In this article, we’ll walk through how to stake your wjAURA and earn even more incentives on your position by staking wjAURA/ETH liquidity pairs on Balancer.
The Process
First, Acquire jAURA
The first step in leveraging the composability of the jAURA strategy is converting AURA into wjAURA. First, head to our jAURA interface with your AURA tokens in hand (remember, jAURA is an Ethereum Mainnet tool). Make sure you select wjAURA before approving and depositing your AURA.
Follow along with Shreddy’s arm to make sure you’ve navigated to the right place.
Second, Add Liquidity
Next, head to the wjAURA/WETH Balancer pool and add your selected amount of liquidity. Balancer Pool Tokens (BPT) allow for fractional liquidity or liquidity in different weights than a traditional AMM. For example, the wjAURA / WETH Balancer Pool is constructed in an 80-20 fashion.
This means that if you have $80 worth of wjAURA, that you’ll need to pair it with $20 worth of WETH. Balancer can provide an 80/20 suggestion for you that matches your amount of wjAURA. Or, you can use a portion of your wjAURA to create the WETH side, you will just forfeit 20% of your hard-earned wjAURA in doing so.
Preview and approve your liquidity deposit and you should see a successful approval.
But wait - when you see this screen, DO NOT PRESS THE SHINY PURPLE BUTTON THAT SAYS, “stake this to earn extra”.
Why? Because you’re going to stake this liquidity token elsewhere to earn even better rewards.
Third, Stake in the Aura Pool
The final step - it's time to stake your Balancer pool token in the official wjAURA/wETH pool on Aura. Head to the pool interface and select your desired amount of pool tokens to stake.
Complete your staking transaction and start earning the best possible rewards on your wjAURA. That’s it! You’ve completed the steps - congratulations.
You will now be rewarded with +10 IQ points.
If you have any questions about jAURA, wjAURA, or how the Balancer & Aura ecosystems work, be sure to join the Jones DAO community!
No part of this article is to be interpreted as financial advice. Seriously, look at them it's a beach ball, a lord of yield, and a guy with spaghetti arms. We aren’t financial advisors and you should always do your own research.
Unrelated to this, come join the Jones DAO community now to stay up to date on our upcoming releases and partnership announcements. We’ll be hosting AMAs, previews, and sharing plenty of alpha: