PerlinX Providing Liquidity Guide
This guide shows you how to provide liquidity to the PerlinX liquidity pools
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.
- 1.The navigation bar to access different functionality over the platform.
- 2.Wallet control - Click to connect or disconnect your wallet.
- 3.Wallet balance.
- 4.Information on the pxAsset positions that you have.
- 5.Information on the pools that you have joined in providing liquidity.
Click on “Connect Wallet”
Login to your Metamask if prompted for a password.
You’ll be able to see your wallet address here when you’ve connected successfully.
Click on ‘Stake’ on the navigation bar to view a list of all pools relevant on PerlinX.
To join the pools, click on ‘Join Pool’. In this example, we are going to join the PERL/pxUSD_Oct2020 pool.
You will be led to the manage pool page. Select ‘Add liquidity’.
Remember that you need to have the equivalent value of both assets to provide liquidity to a 50:50 pool.
If you’re using this for the first time, you’ll need to click on both approve PERL and approve pxUSD_Oct2020.
This is to allow the smart contract to interact with your PERL and pxUSD_Oct2020.
After you confirmed to give approval to PerlinX dApp, you’ll be able to see the confirmation status on the top right corner.
Wait for the transaction to be confirmed, and then we’ve allowed the smart contract to access our PERL and pxUSD_Mar2020.
Now we can finally add the liquidity of 1000 PERL (about $23 worth) and 23 pxUSD_Oct2020.
Click on “Add Liquidity’, 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.