How to Add/Remove Liquidity
Last updated
Last updated
Liquidity plays a pivotal role in WigoSwapâs Decentralized Exchange. In order to add liquidity for a particular token pair, you only have to stake the tokens in the platform. Once you add liquidity, you start obtaining rewards in the form of the trading fees generated for that certain token pair youâve staked. Furthermore, you receive Wigo-LP tokens that in turn can be staked in the Farms for gaining WIGO tokens.
In order to add liquidity, you only have to deposit a certain amount of each token in a pair. To make things clear, an example is provided in what follows. In this example FTM-USDC pair is used.
1- Connect your wallet (How to Connect?)
2- Open the Liquidity page.
3- Click on Add Liquidity button.
4- Now you will see a section that has two separate parts. On the upper part, select the desired token for which you want to add liquidity from the dropdown menu. In this example we are using FTM.
5- On the lower part of this section, choose the other token for which you want to provide liquidity. In our example USDC is selected.
6- Entering the amount of one of the tokens in the desired pair will lead to the amount of the other token being calculated automatically.
7- Make sure that you have sufficient amounts of the tokens you want to add liquidity to. Otherwise, you will be unable to proceed to the next step.
8- Once you entered the desired amounts for the tokens, you need to click on Enable USDC button. You might need to click on this button twice if you are adding liquidity to a pair that involves a token other than FTM.
9- Confirm the enabling through your wallet.
10- After enabling tokens, you can then click on the Supply button.
11- Then read the final information and click on the Confirm Supply button.
12- Confirm the transaction through your wallet.
13- Adding Wigo-LP tokens to your wallet is optional and you can do this step at any time. If you are using MetaMask, just click on the Add Wigo-LP to Metamask button. If you have other wallets such as TrustWallet, you can add Wigo-LP token to your wallet as a custom token by Wigo-LP contract address.
13- Following the confirmation, you are able to view the your added liquidity on Liquidity page.
14- Now you have Wigo-LP token that in turn can be staked in the Wigo Farms for gaining WIGO tokens as reward.
1- Open the Liquidity page.
2- Select the token pair from which you decide to remove the liquidity and then click on the Remove Liquidity button.
3- You can select the amount of liquidity you want to remove from the given options (namely, 25%, 50%, 75%, 100%).
4- Once you selected the amount of liquidity you want to remove, you need to click on Enable button. Your wallet will then ask you to confirm the operation.
5- To proceed to the next step following the confirmation, click on the Remove button.
6- In the next section you can see the amount of each token you are going to receive. By clicking on the Confirm Remove button, your wallet will ask you to confirm the action for a second time.
7- Finally, you obtain the previously estimated amounts of each token in the pair. In case you have only removed a part of your liquidity, the remaining amount is updated on Liquidity page.
