PerlinX Providing Liquidity Guide
PerlinX is a decentralized synthetic liquidity pool that supports the creation and trade of synthetic assets. In partnership with UMA, PerlinX users will be able to generate synthetic assets of any kind through the over-collateralization of PERL. At this current stage, our focus will be on synthetic commodities and cryptocurrencies.
You can access the PerlinX dApp at https://app.perlinx.finance
1: Navigation bar to access different functionality over the platform
2: Information on the pools that you have joined in providing liquidity
3: Wallet control - Click to connect or disconnect your wallet.
4: Wallet balance
Click on “Connect Metamask”
Login to your metamask if prompted for password
You’ll be able to see your wallet address here when you’ve connected successfully.
Click on pools on the navigation bar to view a list of all pools relevant on PerlinX.
To join the pools, click on ‘join’. In this example, we are going to join the PERL/BUSD pool.
Note: Remember that you have to have the equivalent amount of PERL and BUSD, so when you put 10 PERL here, this is $10 worth of PERL and $10 worth of BUSD.
If you’re using this for the first time, you’ll need to click on approve PERL and approve BUSD.
This is to allow the smart contract to interact with your PERL and BUSD.
After you confirmed to give approval to PerlinX dApp, you’ll be able to see the conformation status on right top corner
Wait for the transaction to be confirmed, and then we’ve allowed the smart contract to access our PERL and BUSD.
Now we can finally add the liquidity of 333 PERL (about $34 worth) and 34.31 BUSD.
Click on “stake in pool’, and you’ll get another metamask popup which you have to confirm.
Now that that’s been confirmed on this page, you can see the pool share. This entitles you to the 0.3% fees taken by the pool.
Start Staking: When you stake your PERLs in any one of the liquidity pools (i.e. provide liquidity), you will receive a Liquidity Provider Token (LPT). You can then stake this LPT to earn the rewards. Read our Stake & Reward Guide next and be eligible for the reward!