Spectra is a permissionalist DeFi protocol for interest rate derivatives with an easy to use app. Anyone can create new markets, swap yield derivatives or become a liquidity provider. In this tutorial, we will walk you through how you can earn yield with your stXRP by providing liquidity.
Step 1: Connecting Your Bifrost Wallet
Open your Bifrost Wallet and tap the "Browser" icon to launch the in-app browser
Enter app.spectra.finance in the address bar
Tap the “More” icon on the bottom right
Tap “Connect Wallet”
Select “Bifrost Wallet” from the list of wallets
Tap “Connect” to connect your Bifrost Wallet to Spectra
Step 2: Adding liquidity
Tap the “Pools” icon on the bottom right to bring up the list of available pools
Search for the “stXRP” pool and tap on it
Once in the stXRP pool, tap the “Add” button
Enter the amount of stXRP that you wish to add to the pool
Tap “Add Liquidity”
Pick a token from your wallet to use as input. The default token is xtXRP. If you select another token, Spectra will convert it to stXRP
Tap “Switch Network” if you get the prompt to do so
Confirm the network switch by tapping “Confirm”
Tap “Approve”
Confirm the transaction
A “Transaction Confirmed” pop-up will appear, you can either close it or tap the “Portfolio” button to view your positions
Step 3: Removing Liquidity
From the main page, tap the “Portfolio” icon on the bottom left to show your active positions
Tap the “Actions” button and select “Redeem Liquidity”
Enter the amount that you wish to remove and tap “Remove Liquidity”
Review the summary of the transaction and tap “Approve”
Confirm the transaction
Tap “Confirm” in Bifrost Wallet
Tap the “Portfolio” button to go back to your portfolio page
Tap the “PT” button
Tap “Buy/Sell” to sell PT-stXRP
Enter the amount of PT-stXRP that you wish to sell and tap “Sell PT”
Approve the transaction
Tap the “Confirm” button to confirm the transaction
Tap “Portfolio” to go back to your portfolio page
Tap the “Buy/Sell” button to sell your YT-stXRP
Enter the amount that you wish to sell and tap “Exit YT Position”
Verify the summary of the transaction and tap “Approve”
Confirm the transaction
A “Transaction Confirmed” pop-up will appear, you can either close it or tap the “Portfolio” button to view your other positions
Your XRP doesn’t have to sit on the sidelines. With FXRP and stXRP, you can take the value you already hold and turn it into a yield-earning asset in your control. Spectra Finance makes it easy to put those tokens to work in the stXRP pool and Bifrost Wallet keeps the experience simple and secure from Connect to Withdraw. Let your XRP work while you stay in charge.
About Bifrost Wallet
Bifrost Wallet is a secure, private, non-custodial crypto wallet. It works as your digital keychain for blockchains and assets such as Flare (FLR), Songbird (SGB), Ethereum (ETH), XRP Ledger (XRP), and Bitcoin (BTC).
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