Depositing into the AAVE pool (on Polygon)
Before getting started, you'll need to have some MATIC in your wallet and set up Metamask to work on the Polygon network. If you haven't done so, you can follow the guide below:
The Polygon AAVE pool on Curve has the following incentives:
- Matic rewards from AAVE
- Matic rewards from Curve (TBA)
- Trading fees
- Lending fees from AAVE
- CRV (TBA)
When you deposit DAI/USDC/USDT into the Curve pool, those stables are wrapped into AAVE interest bearing coins and then deposited inside the pool which means you receive AAVE lending interest as well as Matic rewards distributed on the AAVE protocol.
On the screenshot below, the Base APY includes trading and lending fees and the rewards APY includes Matic rewards from both AAVE and Curve.
If this is your first time depositing on Curve there are a few things you need to know. You can deposit DAI/USDC/USDT or maDAI/maUSDC/maUSDT. Whether you deposit already wrapped tokens, one or multiple of those coins doesn't matter. If you deposit just USDT, you will then receive exposure to all three coins in the pool and lending rates from all three coins in the pool and it will get wrapped into maUSDT for you.
If you wish to deposit maTokens, you can click the "Deposit aTokens" checkbox below.
Once you're ready to do so, make sure to check the slippage box which shows if your deposit will incur slippage or a bonus. If you deposit a coin which the pool has a low balance of, you will receive a small deposit bonus like below.
Once you are ready, click the deposit & stake in gauge button.
Depositing will be several transactions, an approval for each of the coins you're depositing which allows the contract to transfer your stable coins from your wallet into the pool and a an actual deposit transaction.
Once you confirm those, you will then be prompted to stake onto the gauge. A gauge is essentially a staking contract where one may receive CRV or other rewards like Matic in this pool's case.
Once you have confirmed the staked transaction, you should then see your balance in the staked share box like below which means you're officially earning rewards as well as trading and lending fees.
If you'd like to learn more about how Curve works, please read our intro below: