Becoming a liquidity provider
Last updated
Last updated
Providing liquidity requires some initial setup effort. To participate in a pool, you must acquire "LP Tokens" specific to that pool. For Variable Pools you'll receive vLP-Tokens and for Stable Pools you'll receive sLP tokens.
For instance, the USDT-BNB Pool will only accept vLP-Tokens for the USDT-BNB trading pair. To obtain the specific LP-Tokens, you must add liquidity to the corresponding trading pair. To get vLP-USDC-BNB-Tokens, you must first provide liquidity for the USDC-BNB pair. Though it may seem daunting, the process is relatively straightforward when broken down step by step.
There are two ways to provide liquidity: a) the convenient way with using USDFI's 1-click functionality or b) the "old school" manual way. Let's dive into the convenient way first.
Before you become a liquidity provider, choose the pool that's right for you. Visit the Pools section to see al available Pools. Use search option or Filters to narrow down your list.
Once you've identified the pool that's right for you, you will need to add liquidity in order to get vLP-Tokens. Click on "Review" to see the Pool details.
Click on the token selection of the top left box to open the search box. Select any crypto in your wallet or the corresponding LP (if already available).
Click on confirm to automatically create your LP Token and have it deposited in the pool. Done!
Before you become a liquidity provider, choose the pool that's right for you. Visit the Pools section to see all available Pools. Use search option or Filters to narrow down your list.
Once you've identified the pool that's right for you, you will need to add liquidity in order to get vLP-Tokens. Click on "Get LP Token".
In the liquidity section, select the two tokens you want to create either a Stable Pool LP Token or Variable Pool LP Token with.
Click review and then confirm if you're happy with your choices. You can now use the "zap directly" switch to finish the process. If you don't enable the switich, please continue following the inistructions below.
After you've created your vLP-Token, you can start providing liquidity to the pool. Simply go back to your preferred pool and click review.
Click on the token selection of the top left box to open the search box. Select your newly created LP Token and click confirm. Done!
