Splendid Pilot Geyser is Live!
TL;DR: Ampleforth has officially launched their Splendid Pilot Geyser; enabling $aAMPL holders to deposit their interest-bearing Aave AMPL’s into the Geyser to earn more AMPL rewards on top of the current yield.
How to deposit your AMPL onto Aave
Luckily I already created a guide for this here:
Therein, you’ll also catch up on the future implications of having AMPL supported on Lending/Borrowing markets.
How to participate in Splendid Pilot.
Once you’ve deposited your AMPL into Aave’s AMPL Lending market, you should have a balance of aAMPL in your wallet.
If so, head over to https://geyser.ampleforth.org/, tap on the drop down menu and select ‘Splendid Pilot (Aave aAMPL).
Since you [should] already have some aAMPL in your wallet, you’ve already done the hard part!
Now we have to wrap our aAMPL in order to receive ubAAMPL.
In order to do so, tap/click on the ‘WRAPPER’ tab and enter the amount of aAMPLs you would like to wrap in the ‘Amount’ text box. If you would like to wrap all of your aAMPLs then you can tap/click ‘MAX’ and let the amount populate in the provided text box.
As you can see from the screenshot above, I’ve entered the amount of aAMPLs I would like to wrap as well as selecting the ‘wrap and deposit into vault for staking’ checkbox to indicate that I would like to proceed with the wrapping process.
Wrap it up!!
After selecting the checkbox, continue to wrap your aAMPL by clicking on the purple ‘WRAP’ button.
You will then be prompted to pay two transactions:
- Granting Permission for the Geyser to withdraw your aAMPL into the smart contract.
(make sure to click ‘confirm’)
2. Wrapping your aAMPL > ubAAMPL
Pro Tip: Make sure to have enough Gas to cover the transaction fees. Also, avoid tapping ‘reject’ as you will be forced to re-pay the Permissions transaction again.
Once the transaction is confirmed, you’ll see a Success module pop up. You have successfully wrapped your aAMPL into ubAAMPL!
Time to stake 🥩!
You’re on the home-stretch!
After receiving your ubAAMPL, tap on the ‘STAKE’ tab and enter the amount you would like to stake in the Geyser provided text box (or simply tap on ‘MAX’ if you would like to deposit your entire balance).
You’ll be prompted to sign the Universal Vault request.
Last Gas Transaction, I promise
Once the Universal Vault transaction is confirmed, you’ll be prompted to pay the staking transaction (I promise this is the last one).
Time to start earning some AMPL rewards + interest
After the staking transaction is processed, you can return to the Splendid Pilot dashboard.
You should be able to see to total amount you staked under ‘Total Staked’ — which will be denominated in USD ($$).
Let us know what you think 💭
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