I have been watching with interest the progress of WHIVE and opening up the new possibilities this offers HIVE. Today, I decided to dive down the rabbit hole and get involved. Having no idea how, and having never used Uniswap before, I read a few posts and tried to get my head around it.
First step - get some WHIVE.
- I reinstalled my dusty old metamask account that I haven't used for ages. (in crypto land I think ages means over a year...)
- I had some HIVE in my account I had planned other things for, but have used for this instead.
- I visited the WHIVE website
- I turned my HIVE into WHIVE (a bit over 400)
- To learn more about this process see this post from @fbslo
Step two - visit Uniswap
- I stumbled around for a bit before I managed to link my metamask to uniswap. Can't remember how I did it in the end, so can't show how to here.
- I then stumbled around trying to add liquidity, but the dumb interface kept asking me to use a list. Couldn't find WHIVE. Lost...
- Come back to Peakd and search for more WHIVE posts.
- Find this post from @lordbutterfly and read in the comments about https://uniswap.info/account/ - thank you @brianoflondon
- Stumbled around for a bit more and then figured out how to add liquidity. There is a helpful little "Add Liquidity" tab on the info page for the WHIVE-ETH pair
Need a matching amount of ETH.
- I realise that at this point, to become a proud Liquidity Provider I need to have a matching amount of ETH - to the value of my new WHIVE.
- I scrounge around and gather some ETH up.
- I buy a little more from Coinbase (ugg - It's still my easiest and quickest fiat onramp)
- I gather it all together in my Metamask.
Liquidity is provided.
- It worked - 0.15 ETH and 230 WHIVE, added by me to the Liquidity Pool.
- I had more WHIVE, so figured i'd swap some to ETH so I could add it also.
- Worked out how to do it, and swapped some WHIVE for ETH (which uniswap did via DAI for reasons unknown to me???)
- Made a second deposit into the LP of 0.04 ETH and 63 WHIVE
So, I have no idea how much (if any) fees I will receive for contributing to the WHIVE-ETH LP. My share at the moment is currently 0.19 ETH and 300ish WHIVE.
My new life as an Liquidity Provider has begun.
Posted Using LeoFinance