In this walk through we are going to look at adding to a liquidity pool on RocketSwap.
FIRST.. lets answer the question. Why on earth would you provide liquidity?
By adding liquidity you will earn 0.3% of all trades on the pair, proportional to your share of the pool. Some pairs may have some additional bonuses — RSWP for example as mentioned in the RocketSwap FAQ.
NOTE: This guide was made before RSWP was available. In this example we are going to create some liquidity for DOUG however this will work fine for anything else listed.
Lets get started!
1. Navigate to https://rocketswap.exchange
2. Double check you have BOTH TAU and your other token of choice available — so a balance above 0 of both TAU and the other token.
3. Click on Pools in the top right of the screen.
4. There is a very good chance you will not be the first to create the pool, so we don’t need to create a pool so we will add to a pool that already exists. Click Add Liquidity.
5. Click Select token dropdown, wait for the list to load then select the token you would like to use (I will use DOUG for the example).
6. From here we can do a few things:
6A. At the bottom we can see some of the stats for the pair selected — how much is one compared to the other which will determine how much we can add to the pool. As you can see in my example I have a lot more DOUG than TAU and they are a similar price, so I will run out of TAU before I run out of DOUG.
6B. Feel free to click on either MAX and see the result or you can enter a figure into either box to see the result. In my example I am adding 50 TAU and it automatically populates the DOUG as 61.
6C. After you are happy with the amount you are adding to the pool click Add Supply.
7. Read and verify the details on the popup then click Confirm Add Supply.
8. For first time users to liquidity pools there will be a popup from the Lamden Wallet for you to authorise the contract action. (Sorry did not get a screen shot). Read and accept to proceed.
9. Thats it! You will get a brief message pop up on the top right for a few seconds. Similar to below (except for your chosen pair):
NOTE: Handy Hint! To remove your liquidity, you need to go back to Add Liquidity, select your token again. When it loads you will see on the top right of the popup and option to remove. (Have a look at the figure at step 6 and you can see it).
You can head back to the RocketSwap Guidebook here for more helpful tips.
If you found this guide useful, throw me a bone or even some TAU at:
0f7b1957e6b00e46896e6eac041439a24ecb1b038c76a2b4f61f3b82a9d9a231
Thanks!
For more information:
Check out RocketSwap and the good folks at Lamden.
