# How to enter GMI

## **How to Get GMI**

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### Step One: Acquire WLP

1. Visit wagmi.com and click on the "GMI" tab, then scroll down.
2. You will see a list of strategies supported by GMI. Here are some key terms:
   * **TVL**: Total Value Locked within a multi-pool
   * **Max Cap**: Required liquidity depth
   * **Percentage Field**: The difference between TVL and Max Cap
   * **Premium**: The WAGMI premium currently promised for the multi-pool’s WLP

Before selecting your desired multi-pool, carefully analyze the above data. Detailed information on how to work with strategies can be found here: [Strategies.](https://docs.wagmi.com/wagmi/protocol-mechanics/strategies)

<figure><img src="https://587341777-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FB2LIlYKuWe8T1B5r4daq%2Fuploads%2F7KqKApVsbMwaNXxF9ryE%2FSTRATEGIES%20NEW.png?alt=media&#x26;token=d6f92c0c-a2e8-463c-ba94-0733ee8c6a89" alt=""><figcaption><p>Strategies page</p></figcaption></figure>

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### Step Two: Join GMI

1. Once you have a WLP token from a strategy supported by GMI that you wish to exchange for GMI, head back to the "GMI" tab.

**WAGMI + sWAGMI requirement for entering GMI**

**WAGMI + sWAGMI Ratio for GMI Entry**

Currently, users combined **WAGMI** and **sWAGMI** (staked **WAGMI**) holdings need to meet the required threshold for joining the GMI. To qualify, the sum of your **WAGMI** and **sWAGMI** must be at least 20% of the **WAGMI** amount that is reserved for your GMI position.

<figure><img src="https://587341777-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FB2LIlYKuWe8T1B5r4daq%2Fuploads%2FMLm7H32FsAhqXJ3ZgNde%2FWAGMI%20TOO%20LOW.png?alt=media&#x26;token=865e0be9-d09b-4726-a145-4086be0ed59b" alt=""><figcaption></figcaption></figure>

In case of not meeting the threshold - **Additional WAGMI or sWAGMI is needed for Entry**

To proceed with your intended wLP (Wrapped Liquidity Position), you need to acquire an additional  **WAGMI**. This will elevate your combined **WAGMI** + **sWAGMI** holdings to the necessary level for GMI participation.&#x20;

1. Here you will see exactly how many GMI tokens you will receive in exchange for your WLP. Additionally, you'll see the following:

   * **WAGMI Reserved**: The quantity of WAGMI tokens you will receive in exchange for GMI
   * **Premium Locked**: The premium percentage is calculated based on your choice of WLP, and the resulting premium is then added to your WAGMI balance.
   * **Actual APR**: The annual percentage rate, considering GMI share recalculation dynamics.
   * **Initial APR**: The initial annual percentage rate.

   <figure><img src="https://lh5.googleusercontent.com/F3AuL6DPxdu3pjkMGrrKAtuHZ6biPKcbGJNwrJit_QmQ3ZG0FCMHh4MjKKjwj7qJzF3jny2El9sr1hz_K0IDKZIP0jyfPlzdnIBLuaSkhgTVsH4t92EFaHd_Eu0M3mqEo0YnGWfApqYIm2BcKljq40k" alt="" width="375"><figcaption><p>Joining GMI pool</p></figcaption></figure>

**Note**: By exchanging your WLP tokens for GMI, you transfer ownership of the WLP tokens. In return, you become a GMI holder and start earning fees from all multi-pools supported by GMI. When GMI holders close their liquidity farming positions, they exchange their GMI tokens for WAGMI tokens. The amount of WAGMI tokens available for exchange is a fixed quantity, determined at the time of acquiring GMI.

<figure><img src="https://lh6.googleusercontent.com/CnU_L26HMIRQlgVfXEisnis2kJqc-ueZED9z_JivUHZGFxwML7oDhwgAL-JrHaPT2ReMXSXMQlVild67pBfixNVcvIjizw2rLwsJyPH22NHx1DDyz--1I1ItNsZaWgQw1E9hqg-LKZaUfnEmjr5AAho" alt="" width="375"><figcaption><p>Transfering ownership fo the WLP tokens</p></figcaption></figure>

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### Step Three: Manage Your Position

1. **Navigate to the Dashboard**: Once you have acquired GMI, head over to the "Dashboard" tab and click on the GMI card.

<figure><img src="https://587341777-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FB2LIlYKuWe8T1B5r4daq%2Fuploads%2FJpXLrPExS3GMHPgL8hOZ%2Fmanaging%20GMI.jpg?alt=media&#x26;token=59ae6f28-9aa3-4645-85b4-331eb4374c66" alt=""><figcaption></figcaption></figure>

1. **On the GMI Page, you can find the following information:**

   * **GMI Balance and Share**: When someone exits from GMI, 50% of their vested GMI is distributed among all current GMI holders. This increases each holder's share of GMI, thereby boosting profits.
   * **Locked WAGMI Amount Available for Vesting**: This shows the amount of WAGMI that you can vest.
   * **Current Max Premium to Enter**: Remember from the first screenshot in this document, users who enter GMI not only reserve WAGMI tokens for vesting but also receive a premium (a percentage of WAGMI reserved). Different multi-pools promise varying premiums depending on their liquidity.
     * **Liquidity Indicator**: The liquidity percentage field (the difference between multi-pool TVL and its Max Cap) serves as an indicator.
       * If the Percentage Field is 50% or less, users can enter GMI using the multi-pool WLP with a 20% premium.
       * If the Percentage Field is 90% or more, the premium drops to 0 since the multi-pool is almost full.
   * **Track Your Earnings**: In the middle panel, you can track fees that you have earned in every token from all multi-pools supported by GMI. These can be found on the right side of the panel.
   * **Claim Tokens**: By clicking on "Claim," you can open a pop-up where you can choose which tokens you would like to claim.

   <figure><img src="https://587341777-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FB2LIlYKuWe8T1B5r4daq%2Fuploads%2FPqks9dvcgiK1Ix1uH8Aw%2FClaim%20Fees.jpg?alt=media&#x26;token=febc4da1-f1df-4bcf-9b98-7bd81b2f9e2f" alt=""><figcaption></figcaption></figure>