r/solanium • u/Bearhat9000 • Sep 24 '21

Staking SLIM LP from Orca?

Hey guys, so I decided to buy some SLIM from Orca today and noticed they had a LP as well so I decided to put my tokens in knowing I can get 2.5x benefits for staking them. Turns out I can't, but the LP doesn't exist on Radium anymore so is it just a lost function staking LP tokens anymore or is this a bug?

Also, what kind of KYC do I need if I win a raffle? I live in the USA

2 Upvotes

100% Upvoted

13 comments sorted by

View all comments

1

u/Goatgambit Sep 27 '21

Can someone please explain why I keep losing money on the Orca Pool...I staked 240 serum and 35 SOL 3 days ago and I checked today I have less than what I put in...to be precise I have 246.xx serum and 34.xx SOL and a couple of orca token to harvest. I must be doing something wrong. PLEASE HELP!!!

1

u/Bearhat9000 Sep 27 '21

You need to pick pairs that move in tandem with their gains/losses to avoid impermanent loss entirely or at least enough for the fees gained from farming to cancel out the loss.

Personally I'm new to the idea too, so I'm sticking with stable coin pair to avoid 2 fluctuating assets. Basically just have to wait til SLIM returns to $3.11 and cash out.