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How To Add/Remove Liquidity
Do you have a cryptocurrency token and want to allow people to trade it? Here is a guide how to do that through SwapX.
All coin creators must provide the first initial liquidity. TLDR: A liquidity pool is a collection of 2 different token pairs. It is a pool of funds that allows people to swap a created token.
Cryptocurrency token owners have a pool of two tokens; your token and Binance Coin (BNB), which allows people to swap between these two tokens on SwapX. People who provide liquidity (liquidity providers) will get a percentage of the transactions that use the liquidity pool they help provide. This is another way to earn money in crypto currency.
The purpose of this lies in the way the pool of funds works, as it requires liquidity to allow users to make trades. If a user tries to buy a coin without any liquidity, they will receive an “insufficient liquidity” error.
- 1.Login through a web 3 browser such as Metamask,Binance Wallet, TrustWallet, or any of the acceptedwallets
2. Add your Liquidity Pool Tokens
- 1.Fund the liquidity of your coin in order to allow people to exchange it.
- 2.Copy and paste the contract address to find it in the menu.
- 3.Add your token and your BNB, or with BUSD or USDT.
- 4.The ratio of your tokens to BNB supplied will determine the price of the token.
Note: Now you need to make sure you have your liquidity pool tokens.
This entitles you to ownership of the liquidity added to SwapX, as you get a certain percentage of the transactions that utilized the liquidity pool.
Last modified 1yr ago