Supercharge Your Polkadot (DOT) Yields with Lido’s stDOT Farm on StellaSwap

3 min readOct 26, 2022

After months of planning and discussions with Lido/Mixbytes, we’re elated to announce that our stDOT farm is finally live! 🔥 You can start supercharging your DOT yields by staking into StellaSwap’s stDOT — wstDOT farm, earning;

⭐️ Polkadot’s Proof-of-Stake (POS) staking yields
⭐️ Trading fees from stDOT trading
⭐️ Triple-rewards from farm emissions (GLMR + LDO + STELLA)

LFG! 🚀

What is stDOT/wstDOT?

stDOT is a liquid token that represents your share of the total DOT.xc pool deposited with Lido. As soon as you delegate to the pool, you receive the newly minted stDOT. Over time, as your DOT delegation accrues rewards, the amount of your stDOT increases. Interestingly, there is no waiting time for receiving stDOT tokens. When a user delegates their DOT tokens, they do not need to perform or wait for the completion of any delegation or activation steps, as is the norm in traditional staking. The user can instantly exchange stDOT for DOT.xc at any time in the open market.

wstDOT is simply a wrapper to allow for the usage of stDOT across DeFi protocols on Moonbeam. You can get wstDOT by wrapping stDOT on StellaSwap: https://app.stellaswap.com/exchange/swap

How to Participate

Here’s a full guide to start staking in the stDOT-wstDOT farm: How to Get wstDOT & Farm.

Here’s the exact steps;

Step 1️⃣: Get DOT.xc
Step 2️⃣: Convert DOT.xc into stDOT on https://lido.fi/polkadot
Step 3️⃣: Wrap stDOT into wstDOT on StellaSwap’s Swap page
Step 4️⃣: Add Pool of wstDOT : DOT.xc

Start Maximizing Your DOT Yields

If you’re a hodler of DOT, you can actually maintain the same exposure to DOT while earning much more through our stDOT farm! This is because staking into the stDOT — wstDOT farm entails no impermanent loss. In fact, your DOT exposure is constantly increasing as you’re earning DOT staking fees.

Staking into StellaSwap’s farm exposes you to various levels of DeFi yields!

POS validation staking yields
Trade fee APR
Triple-rewards farm emissions (GLMR+STELLA+LDO)

That’s right. Staking in the stDOT farm exposes you to additional levels of yields that will maximise your DOT rewards.

Listen Up Stakers on Curve, Convert now!

Beyond the maximization of DOT yields, it is important to understand that stDOT liquidity on StellaSwap is the basis for future stDOT utility, which entails;

New stDOT lending/borrowing market on Moonwell
Collateral assets supported for minting MAI stablecoin
LP assets supported for minting MAI stablecoin
And a host of other usecases

Therefore, those who are already staked on Curve may find it useful that their liquidity would be better positioned on StellaSwap for the long term.

To transit stDOT liquidity to StellaSwap, you’d have to;

Step 1️⃣: Break the LP on Curve
Step 2️⃣: Wrap stDOT into wstDOT on StellaSwap’s Swap page
Step 3️⃣: Add Pool of wstDOT : DOT.xc on StellaSwap

About StellaSwap

StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders, while continuing to innovate on the collective foundations by design.