Balancer Smart Pool

Your quick-start guide to earning yield with the oneToken Balancer Pool

oneToken Pool Overview

Before we begin please note that none of the following documentation should be considered financial advice.

The ICHI community created a Balancer Smart Pool containing:

  • oneBTC

  • oneETH

  • oneLINK

  • oneWING

  • oneVBTC

  • USDC

You can learn more about Balancer Smart Pools here.

The oneToken Balancer Pool allows you to add a single asset, get LP, and stake to farm with only a small gas expense for each transaction. Accelerating ICHI’s goal of helping everyone become a farmer and making oneTokens more accessible for the average investor. Key features include:

  • Ability to deposit only your oneToken of choice or USDC

  • Ability to deposit all assets at a single time

  • No impermanent loss (stablecoins only)

  • Low trading fees (0.04%)

Make sure you are aware of the risks associated with farming.

Getting your oneTokens

1.Selecting your oneToken

The first step in providing liquidity is determining which assets you would like to use for providing liquidity to the smart pool. The assets need to be supported by the smart pool. Typically adding an asset results in some slippage (price impact) if you are adding a single oneToken, so you may want to consider which asset will have the lowest price impact.

This API can estimate the LP you would receive for depositing $1,000 of a given asset

Balancer enables either a single asset type to be added (oneToken or USDC) or requires that all asset types be added in a single deposit (all oneTokens and USDC).

2. Minting or Swapping oneTokens

Now that you have identified which oneTokens you would like to provide as liquidity to the Balancer pool you need to acquire the oneTokens either by minting with required collateral or swapping for the oneToken on an AMM or other decentralized exchange.

Once you have your oneTokens, make sure that they are held in the wallet which you plan to connect to the Balancer application.

3. Navigate to the Balancer Smart Pool

  1. Navigate to ichi.farm to access the ICHI application.

  2. Select "Farm" in order to see a list of all available Farms.

  3. Navigate to the "oneTokens (balancer)" pool and select "Deposit".

  4. Select "Add Liquidity" for the oneTokens Pool which will take you to the Balancer Smart Pool.

You should now have arrived at the Balancer Smart Pool for oneTokens and are now ready to deposit either a single oneToken or all of the tokens accepted in the pool.

Your screen should look similar to the following:

Balancer Smart Pool for oneTokens

Depositing a single oneToken

1.Connect your wallet

You must now connect your wallet of choice to the Balancer application in order to deposit assets from your wallet, and pay any necessary Ethereum transaction fees required to interact with the Pool.

Select the "Connect wallet" option in the upper right hand of your screen.

Connect wallet to Balancer

You will then be prompted to connect your wallet from an available set of integrated wallets. Select the wallet which contains the necessary oneTokens.

Wallets that integrate with Balancer

2. Set up your oneToken deposit

After connecting your wallet, its time to select "Add liquidity" to deposit your desired oneToken or USDC into the pool.

Select "Add liquidity" on the Balancer Pool

3. Specify deposit amount

At this time you should now be presented with a pop up box which shows the assets which can be deposited into the Balancer Smart Pool. Make sure you have selected "Single Asset" to deposit either a single oneToken or USDC.

The Smart Pool overview of assets which can be deposited

You can now specify the oneToken you would like to deposit and either specify an amount or select "Max" in order to deposit all of that oneToken currently in your wallet.

4. Setup proxy

If this is your first time depositing to Balancer you will need to setup a proxy which can interact with Balancer on your behalf. This is a one-time action and will save you gas in the long run. This transaction will need to be signed by your wallet and have a gas limit of approximately 655k.

Approve setup of proxy

5. Approve adding liquidity

After setting up the proxy, you may next need to approve the smart contract from your wallet. This should have a gas limit of around 200k.

6. Add liquidity

After approving the smart contract you can now add the specified liquidity to the pool. This should have a gas limit of 400k. This transaction will take deposit your assets into the pool and provide you a corresponding amount of LP token which will now be held by the wallet which previously held the oneTokens.

7. Approve your LP

Now that you have the necessary LP tokens, return to the "oneTokens (balancer)" farm at ichi.farm in order to stake your LP. If this is your first time, you will need to "Approve LP" in order to stake your LP to the farm contract for the oneTokens (balancer) pool. You will need to sign this transaction from your wallet which should have a gas limit of 46k.

Approve from your wallet

8. Deposit your LP

You can now proceed with depositing your LP to the pool and begin earning ICHI rewards. Select "Deposit LP Tokens" from the user interface. This will create a pop up where you can specify the amount of LP you would like to deposit.

Specify the amount of LP you would like to deposit

After specifying the amount to deposit, you can select "Farm" in order to create the transaction which you will then need to sign from your wallet to deposit the LP. This should have a gas limit of 97k.

Once that transaction has completed you are now participating by contributing liquidity to the oneToken Balancer Smart Pool. Make sure to check back in on ichi.farm to see accrued rewards, claim your ICHI, and manage your LP.

Depositing all oneTokens

In addition to depositing any individual oneToken or USDC, you an choose to deposit all the assets in the pool simultaneously.

The major difference in this experience from the above is that you will need to have a sufficient amount of every oneToken and USDC in your wallet connected to Balancer. The following steps will provide only those items unique to depositing all oneTokens and USDC.

1.Set up your oneToken deposit

After connecting your wallet, its time to select "Add liquidity" to deposit your desired oneToken or USDC into the pool.

Select "Add liquidity" on the Balancer pool

2. Specify deposit amount

Select the "Multi asset" option from the "Add liquidity" pop up in order to deposit all oneTokens and USDC simultaneously into the pool.

Multi asset deposit in the Balancer Smart Pool

Next you will need to enter the amount of each asset to deposit. The Balancer Smart Pool automatically calculates the required amount of deposit for each asset based on the amount entered for your first asset. So for instance if you specify a desired amount of USDC, all other oneToken required deposit amounts will be automatically populated based on that input. Your wallet will need to have sufficient balance of each asset in order for the multi asset deposit to succeed.

3. Setup proxy

If this is your first time depositing to Balancer you will need to setup a proxy which can interact with Balancer on your behalf. This is a one-time action and will save you gas in the long run. This transaction will need to be signed by your wallet and have a gas limit of approximately 655k.

Approve setup of proxy

4. Approve adding liquidity

After setting up the proxy, you may next need to approve the smart contract from your wallet. This should have a gas limit of around 200k.

5. Add liquidity

After approving the smart contract you can now add the specified liquidity to the pool. This should have a gas limit of 400k. This transaction will take deposit your assets into the pool and provide you a corresponding amount of LP token which will now be held by the wallet which previously held the oneTokens.

6. Approve your LP

Now that you have the necessary LP tokens, return to the "oneTokens (balancer)" farm at ichi.farm in order to stake your LP. If this is your first time, you will need to "Approve LP" in order to stake your LP to the farm contract for the oneTokens (balancer) pool. You will need to sign this transaction from your wallet which should have a gas limit of 46k.

Approve from your wallet

7. Deposit your LP

You can now proceed with depositing your LP to the pool and begin earning ICHI rewards. Select "Deposit LP Tokens" from the UI. This will create a pop up where you can specify the amount of LP you would like to deposit.

Specify the amount of LP you would like to deposit

After specifying the amount to deposit, you can select "Farm" in order to create the transaction which you will then need to sign from your wallet to deposit the LP. This should have a gas limit of 97k.

Once that transaction has completed you are now participating by providing liquidity for the oneToken Balancer Smart Pool in exchange for ICHI rewards. Make sure to check back in on ichi.farm to see accrued rewards, claim your ICHI, and manage your LP.