High-Leverage-Strategies (HLS) Staking is now live on Mars v2!
You can now provide collateral in the form of dATOM or stATOM to enter one of the two available HLS Staking markets:
HLS Staking: dATOM-ATOM
HLS Staking: stATOM-ATOM
This guide will walk you through the process of participating in Mars v2 HLS Staking, from providing collateral to selecting the appropriate leverage for your strategy.
Before You Begin
You will need a wallet compatible with the Neutron blockchain, such as Keplr or Cosmostation.
Ensure you have dATOM and/or stATOM tokens available in your wallet to deposit into the HLS Credit Account. There are several ways to acquire these tokens:some text
Acquiring LST via Drop or Stride: You can liquid stake your ATOM for dATOM or stATOM.
Swapping on Mars: Mars Protocol offers a built-in swap functionality. You can swap other supported assets for dATOM or stATOM directly within the Mars interfacebuilt on the Cosmos.
Swapping on Astroport: Astroport is a decentralized exchange built on Cosmos. You can swap other supported assets for dATOM and stATOM here.
Connect your Wallet: Click on the "Connect Wallet" button and select your compatible wallet (e.g., Keplr or Cosmostation) from the list. Follow the on-screen instructions to grant Mars Protocol access to your wallet.
Go to the "High Leverage" Tab: Once connected, navigate to the "High Leverage" tab located on the top menu. Make sure you’re on the Staking sub-tab.
Select the HLS market: In the "Staking" section, locate the preferred HLS market. Currently Mars offers two HLS Staking markets; dATOM-ATOM and stATOM-ATOM.
Enter HLS market: Click on the "Deposit" button associated with the HLS market. In this example we’ll use the dATOM-ATOM market.
A minted HLS account can only have a single position tied to it, in order to limit risk.
To fund your HLS position, funds will have to come directly from your wallet.
If you exited a position from a minted account, this account can be reused for a new position.
Provide Collateral: A window will appear prompting you to enter the amount of dATOM you wish to deposit as collateral. Enter the desired amount of tokens and click ‘Continue’.
Note: In the upper part of the screen you’ll see the current Droplets multiplier. Currently only 1x since you only deposited dATOM. As soon as you leverage it up the multiplier will change to 3x.
Leverage it up: Boost your earning potential by leveraging your initial deposit up to 7.1x, borrowing additional funds in ATOM, which will be automatically swapped to dATOM (refer to step 10 in this guide). Choose the leverage level that matches your risk tolerance and click ‘Continue’ to move forward.
Note: The Droplet multiplier has increased from 1x to 3x, as you now borrow against your collateral. With a 7.1x leverage combined with the 3x Droplet multiplier, this results in approximately 21x the number of Droplets!
Create HLS Credit Account: Depositing into a HLS strategy mandates the creation of a HLS credit account. Click ‘Approve Transaction’ to mint a Credit Account.
Select HLS Credit Account: Select a created HLS Credit Account and proceed by clicking ‘Continue’.
Review and Approve: Carefully review the details in the summary, including the amount of each token and the estimated net APY (Annual Percentage Yield) you will earn on your contribution. Once satisfied, click "Approve Funding Transaction" to finalize the process.
Confirm Transaction: Your wallet will prompt you to confirm the transaction. Review the fees associated with the transaction and confirm if you agree to proceed.
Congratulations! You have successfully created a HLS Staking position on Mars v2. Your deposited tokens will start generating yield automatically.
Additional Notes
You can change your leverage, deposit more, repay, withdraw or close your position at any time by clicking the "Manage" button.
