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How to Provide Liquidity
6 Steps to Provide Liquidity on SingularityDAO.
2. Click 'Connect wallet' in the top right corner of the portal if you have not already done so. You will then be prompted to unlock your wallet.
3. Navigate to the 'Liquidity' tab found within the 'DEX' category on the left side of the screen and then click the 'Add Liquidity' button.
4. Input the amount you want to add to the pool. You can specify the amount either as appropriate, and the platform will automatically calculate the second token's value at the pool's current rate.
5. Click 'Approve' - Skip this step if you have done so before.
You will be asked to approve the Ethereum transaction and pay the gas fee.
6. Finally, click 'Add Liquidity' and confirm the transaction in your wallet to supply tokens to the pool. Once the transaction completes, a pop-up will show details of the tokens you supplied and the number of LP tokens you received in your wallet.
That’s it! The portal will now show you your pool share, signifying that you are a part of the liquidity pool. Don't forget that you can Yield Farm those LP tokens to earn additional rewards.
*Disclaimer*
Liquidity Provision comes with the risk of Impermanent Loss, please learn about this before making the decision to provide liquidity. https://academy.binance.com/en/articles/impermanent-loss-explained
Last modified 1yr ago