2. Provide Liquidity
Liquidity pools are places to pool tokens (which we sometimes call liquidity) so that users can use them to make trades in a decentralized way. These pools are created by users and decentralized apps (or Dapps, for short) who want to profit from their usage. To pool liquidity, the amounts a user supplies must be equally divided between two coins: the primary token (sometimes called the quote token) and the base token (usually ETH or a stable coin).
Liquidity providers earn a 0.25% fee on all trades proportional to their share of the pool. Fees are added to the pool, accrue in real-time, and can be claimed by withdrawing your liquidity.
LUXY pools are available in many DApps. Choose your favorite!
Follow these steps:
- Choose the DApp.
- Connect your wallet.
- You need to have both tokens in your wallet and the two token amounts need to match each other in monetary value! (e.g. with LUXY at $0.10 & USDC at $1, the following would work: 1000 LUXY & 100 USDC).
- If this is your first time providing liquidity in the pool, click “Approve” to enable your tokens to interact with the contract.
- You will receive both SLP tokens which represent the shares of the total liquidity on the pool.
- Pegasys - Syscoin Network https://info.pegasys.finance/token/0x6b7a87899490ece95443e979ca9485cbe7e71522