💦Add & Remove Liquidity
Last updated
Last updated
To supply liquidity, you need to have both tokens in the appropriate amounts of the current ratio. (How to Swap Tokens)
If you provide liquidity for the first time, start by selecting the Liquidity Pools option from the trading interface.
You need to select a pool you wish to provide liquidity
The example shows a liquidity provision for the KSM-MGX pool. When you put an amount to any one of the pairs, the protocol will automatically fill the value for the other token respective to the pool's current balance.
It is currently not possible to provide one-sided liquidity. This means you need both KSM and corresponding MGX to provide liquidity into the pool.
Be mindful of the transaction fees. It’s a good idea to reserve some MGX to pay fees later on.
Click supply, sign & submit the message from your wallet. Your liquidity position will be automatically activated.
You can increase your LP position and activate your LP tokens to receive rewards from liquidity mining.
If you are already a liquidity provider and want to increase & decrease your position, start by selecting ‘My Positions’ on the left panel.
Press add button in the ‘Provided Liquidity’ section. You will be prompted with KSM-MGX pool to supply liquidity on the screen.
Put in the number of tokens you want to supply liquidity. Do not use the entirety of your MGX balance to reserve for paying further fees.
Remember, it is currently not possible to provide one-sided liquidity. This means you need both KSM and corresponding MGX to provide liquidity into the pool.
After you sign and submit the transaction, you will receive MGX-KSM LP tokens corresponding to your position in the pool.
Your MGX-KSM LP tokens are automatically activated for Liquidity Mining after you perform a supply tx. Still its a good idea to check if all of your LP tokens are activated for liquidity mining or not.
You can remove your liquidity and receive your KSM and MGX back.
From the ‘Provided Liquidity’ section, select remove to burn your MGX-KSM LP tokens and receive the underlying MGX and KSM coins.
It’s a good idea to deactivate your LP tokens from liquidity mining before removing liquidity.
Select the amount of your liquidity to remove. It is not currently possible to determine the amount manually.
Sign & submit the transaction, your MGX-KSM LP tokens will be burned and you will receive the corresponding MGX and KSM tokens in your account.
