After the CCIP-051 Moon rewards went live on the Moon/Eth pool on the SushiSwap, as many of you did, I also went to "provide liquidity" (not much, barely 50$ worth it, yet around ~1/4 of my moons), but after nearly two days, I noticed that I hadn't gained any rewards at all.
The reason was one: I was a dmb@ss and I hadn't actually added the liquidity pool (LP) token into the pool.
You see, I did as I understood it. Went to swap some Moons for Ethereum and then I added the Ethereum and the Moon into one thing. Yet, this is not enough. That was just half the work needed. I had just made the new token out of the combination of the two coins.
Yet, this new token (the LP ) needs to be deposited / staked into the pool together with the other users' (providers') LP tokens.
Thus, my liquidity was sitting in the blockchain doing nothing, unstaked.
So how can you check that you have indeed added your LP token into the pool?
Method 1 (via Sushi.com)
Checking your rewards. If you haven't acrued any rewards after a day or two, you probably haven't added any LP token... On the page of the Pool (MOON-WETH - Classic Pool - 0.30%, https://www.sushi.com/earn/arb-nova:0xd6c821b282531868721b41badca1f1ce471f43c5), when your wallet is connected, check the section in right column with the title "My Rewards". Dpending on the APR, your size of the intended for liquidity coins (actually the percentage of the pool you hold) and time, you should see some Sushi and Moons counting upwards.
Method 2 (via Sushi.com)
On the page of the Pool (as above), when your wallet is connected, check the section in right column with the title "My Position".
You should have value in the Staked Position.
My "idle" liquidity was in the unstaked position....
Method 3 (via Wallet / Metamask)
Add the SushiSwap LP Token in your Metamask and if the SLP is 0, you have indeed added the token into the pool. (Step by Step for PC:
- Click on Metamask, make sure Arbitrum Nova is selected as the network.
- On the "Assets" tab, scroll down and click the "Import tokens" underneath the "Don't see your token?"
- In the "Token contract address" enter "0xd6c821b282531868721b41badca1f1ce471f43c5" [you can check it in the explorer for the nova-arbitrum {https://nova-explorer.arbitrum.io/token/0xD6C821b282531868721b41BAdca1F1ce471f43C5/token-transfers} ] and click the "Add custom token" button.)
tl;dr
If you intended on "adding liquidity" in the pool, make sure you actually have staked the liquidity token IN the pool.
(The initial post was taken down cause the moon posts were above the limit, but after some great comments that passed through, I desided I should post it to help maybe another user or two. Hopefully I am / was the only one that didn't completed the whole "add liquidity" thing.)
Edit 1: This is by no means a post to promote staking, liquidity of moons, as yes there is a possibility (or many) of impermanent losses, as others have noted in many other recent posts. It is just my advice from my mistake (for what this is worth it to anyone or to you) that if you have desided you want to stake and thus add liquidity in this pool, any other like the Moon/usdc, moon/brick or a future one, actually do so and don't stand idle in the between.
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