In this step-by-step guide, we will walk you through the process of adding liquidity to OPTUS DEX and unlocking the potential for earning passive income. By providing liquidity, you not only contribute to the growth of the decentralized exchange but also earn rewards for your participation.
Liquidity pools play a crucial role in decentralized exchanges like OPTUS DEX. They are pools of tokens provided by users, enabling seamless trading and ensuring sufficient liquidity for various asset pairs. By contributing your tokens to a liquidity pool, you become a liquidity provider (LP) and earn rewards in return.
When traders execute trades on the DEX, they pay transaction fees, which are distributed among the LPs based on their share in the liquidity pool. The more liquidity you provide, the larger your share, and the greater your potential earnings. This incentivizes users to contribute to the liquidity pools and enhances the trading experience for all participants.
So, let’s dive in and explore how you can get started
Step 1: Setting Up Your Wallet
Before you can add liquidity, ensure you have a compatible wallet that supports TON Blockchain. OPTUS supports wallets such as Tonkeeper, OpenMask, MyTonWallet, Tonhub and Tonflow.
Step 2: Accessing OPTUS DEX
Visit the OPTUS DEX website and connect your wallet. This will enable you to interact with the DEX and access the liquidity pool.
Step 3: Choosing Your Asset Pair
Identify the asset pair you wish to provide liquidity for. OPTUS supports a range of tokens on the TON Blockchain, allowing you to select the most suitable pair for your investment strategy.
To select a pair, go to the “Liquidity” tab:
We will use the WTON-FNZ pair, for our example.
In order to provide balanced liquidity provision, the ratio for your chosen asset pair should be 50%/50%. This means that if you want to provide liquidity for WTON-FNZ pair, you need to have a 50%/50% ratio of WTON and FNZ cryptocurrencies in your wallet balance.
If you don’t have the coins you need for the pair, you can use our decentralized exchange to swap tokens.
Step 4: Adding Liquidity
On the “Liquidity” tab, click the “+” next to the asset pair you selected:
Select the amount of WTON and FNZ you want to send to the liquidity pool. When you enter values in any of the fields, the desired amount is automatically selected in the other column:
Then click “Send liquidity WTON” and “Send liquidity FNZ”, confirming each transaction in the wallet.
After both transactions are confirmed, you will successfully add tokens to the liquidity pool and receive LP tokens into your wallet.
Step 5: Managing your tokens
Once you provide tokens to the liquidity pool, you will have access to manage your funds:
To withdraw your tokens from the pool, click “Withdraw”. If you want to add more liquidity to this pool, click “Add Liquidity”.
Step 7: Earning Rewards
Congratulations! By adding liquidity to OPTUS DEX, you are now eligible to earn rewards. OPTUS uses a fee distribution mechanism based on your share in the liquidity pool.You earn up to 0.2% fee on all trades proportional to your share of the pool.
Conclusion:
Adding liquidity to OPTUS DEX is a rewarding way to participate in the decentralized finance ecosystem and earn passive income. By following this guide, you have equipped yourself with the knowledge and steps to get started. Remember to stay informed, monitor your investment, and embrace the opportunities that arise. Start adding liquidity to OPTUS DEX today and unlock the potential for earning.
Note: This guide provides a general overview of the process. It’s important to do your own research and consider the specific details and risks associated with adding liquidity before making any financial decisions.
