A step-by-step guide to swap & LP Frax Assets on Scroll via Sushi
Swap on Scroll via Sushi
Before you start, ensure you have some assets in your wallet ready for swapping and gas fees. You could use SushiXSwap to swap assets cross-chain or use the Scroll Bridge.
1. Visit the Sushi Website
Navigate to the Sushi interface Sushi Swap.
2. Connect Wallet
Use a compatible wallet, such as MetaMask, and connect by following the prompt.
3. Change "Network" to Scroll
Switch from the default or current network to Scroll in the network selection area. Ensure your wallet is connected.
4. Select Tokens to Swap
Choose the tokens you wish to swap. You can click on the token list to see more options in the dropdown menu. Select from a list of tokens on Scroll, including the Frax assets e.g. axlFRAX or other tokens you want to swap from and to. Then click “Swap”.
5. Enter Swap Amount
Input the number of tokens you want to swap.
6. Approve the Swap Tokens
Approve your tokens to be swapped, and click “Confirm” in your wallet.
7. Execute the Swap
Click “Swap” to initiate the transaction and follow the instructions on the UI, then click “Confirm” in your wallet interface to confirm the gas fees and execute the swap. Upon successful transaction, you've effectively swapped tokens on Scroll.
Provide Liquidity Frax Assets on Scroll via Sushi (v3)
- Visit the Sushi Pool UI
Navigate to the Sushi Pool interface by visiting Sushi Pools.
- Connect Wallet and Select Network
Connect your compatible wallet (like MetaMask) to the Sushi platform. Change the network settings in your wallet to Scroll if not already set.
- Select a Pool
Choose a liquidity pool that matches your interests. For Frax assets, select a pool like axlFRAX/axlUSDC or another available pair.
- Create a Position
Click "Create a position" to begin the process of adding liquidity.
- Select Price Range
Decide the price range for your liquidity. This is particularly important in concentrated liquidity pools like Sushi v3. You can adjust the minimum and maximum price using the price range slider.
Alternatively, click one of the +/- buttons to adjust, which will give you a default range to start with, or enter specific values in the designated boxes to define your price range.
Note: A narrower price range can lead to higher fee collection but increases the risk of your liquidity being out of range, thus not earning fees. Using the full range is akin to the classic v2 liquidity provision, which does not involve concentrated liquidity.
- Provide Liquidity Amount
Enter the amount of one token in the chosen pair. The protocol will automatically calculate the amount of the second token needed based on current prices.
If the suggested amount for the second token is more than you have, try entering the amount of the second token first.
- Approve Both Tokens
Like in a swap transaction, you need to approve the spending cap for each token you are providing. Click “Approve (Token Name)” to grant permission for Sushi to interact with your tokens. Approve each token individually on your wallet.
- Review & Confirm
Follow the user interface instructions to review your transaction details. Click “Preview” to check everything, then “Add Liquidity” to proceed.
Confirm the transaction in your wallet to finalize adding liquidity.
- Manage Position
After your liquidity is added, you can manage your position by selecting “My Positions” under the Pools UI. This section allows you to adjust or remove your liquidity depending on market conditions and your strategy.
