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Bonding Guide For Polygon and Arbitrum Bonding Products

Bonding Guide For Polygon and Arbitrum Bonding Products

08-Feb-24

As part of the continuous expansion and implementation of AIP-1, the Olas ecosystem is taking a significant step forward with the launch of the latest OLAS bonding campaign, this time focusing on the Balancer WMATIC-OLAS LP-pair on the Polygon and the Balancer WETH-OLAS pair on Arbitrum. 

This marks a pivotal step towards implementing the AIP-1 which aims to enhance liquidity for the OLAS token across multiple trading pairs and chains, while diversifying the Olas Treasury.

Because Olas protocol contracts live on Ethereum, bonding liquidity on other chains such as Polygon or Arbitrum requires bridging.

Polygon

To bond WMATIC-OLAS LP-pair on Polygon, bonders need to complete the following steps:

  1. Acquire OLAS Tokens: You can acquire OLAS tokens directly on the Polygon network or you can bridge OLAS tokens from the Ethereum mainnet to Polygon using Polygon Portal.

  2. Provide Liquidity on Polygon: Once you have OLAS tokens on Polygon, contribute to the liquidity pool by adding both WMATIC and OLAS tokens thereby obtaining the corresponding LP-tokens.

  3. Bridge LP-Tokens to Ethereum: Once you have the LP tokens bridge them using Wormhole: Portal Bridge (WARNING: this is not the same as Polygon Portal). To do so, select "Polygon" as the origin chain and "Ethereum" as the destination chain. Input the WMATIC-OLAS LP token address as the token you wish to bridge.

  4. Deposit in Bonding Programs on Ethereum: The final step is to deposit your bridged LP-tokens into one of the available bonding programs on Ethereum.

Arbitrum

To bond WETH-OLAS LP-pair on Arbitrum, bonders need to complete the following steps:

  1. Acquire OLAS Tokens: You can acquire OLAS tokens directly on the Arbitrum or you can bridge OLAS tokens from the Ethereum mainnet to Arbitrum using the Arbitrum Native Bridge.

  2. Provide Liquidity on Arbitrum: Once you have OLAS tokens on Arbitrum, contribute to the liquidity pool by adding both WETH and OLAS tokens thereby obtaining the corresponding LP-tokens.

  3. Bridge LP-Tokens to Ethereum: Once you have the LP tokens on Arbitrum, bridge them using Wormhole: Portal Bridge. To do so, select "Arbitrum" as the origin chain and "Ethereum" as the destination chain. Input the WETH-OLAS LP token address as the token you wish to bridge.

  4. Deposit in Bonding Programs on Ethereum: The final step is to deposit your bridged LP-tokens into one of the available bonding programs on Ethereum.

Upon completion of these steps, at bond maturation, bonders are able to redeem their OLAS on Ethereum mainnet. Consequently, bonders will conclude their journey with OLAS on Ethereum network and the DAO will retain ownership of the bridged LP-asset on Ethereum.

By participating in these bonding campaigns, you are directly contributing to the growth and stability of the Olas ecosystem. Your involvement not only enhances the liquidity of OLAS but also aligns with a vision of a robust and decentralized ecosystem enriched by autonomous agents. For more details on bonding visit olas.network/bonds

No warranties are provided. Check the disclaimer for more details.