How to add liquidity to Balancer?
This article will walk you through the steps of adding liquidity to the ORBS/USDC pool on Balancer.
This article will walk you through the steps of adding liquidity to the ORBS/USDC pool on Balancer. You can read the Orbs Balancer pool announcement here.
What do you need to add liquidity to the pool?
One of the wallets supported by Balancer (MetaMask, WalletConnect, Portis, Coinbase or Fortmatic)
ORBS and USDC on the same address. The pool ratio is 10% ORBS and 90% USDC, so for every 10$ worth of ORBS you would need to deposit 90 USDC. There is also an option to deposit a single asset, however you may incur high slippage in the case when the deposit amount is high in relation to liquidity available in the pool.
~5-10 minutes of your time.
2. Connect your wallet and press "Add Liquidity".
4. You will be offered to create a proxy contract. In case you already have one - skip to the next step.
Depending on network congestion, creating the contract might take some time. You'd be asked to wait for 10 confirmations to pass, after which go forward by pressing "Next".
This will save you a decent % of ETH spent in fees.
5. Clicking "Add Liquidity" will now open a menu, where you can choose to deposit multiple or single assets to the pool. Multiple assets are preferred, since that way you avoid slippage in value for the asset that you deposit.
IMPORTANT - It is not advised to choose "single asset". Currently, this option might result in large slippage and thus lower the price of deposited asset. This will not be an issue, once there is more liquidity in the pool.
You can choose the amount either in USDC or in ORBS, the ratio is going to be maintained automatically.
Then, unlock both coins by signing a transaction via wallet —> "Add liquidity" button will become available.
6. That's it! You have successfully added liquidity to the pool, which you can see on the main pool page:
Now your tokens are in the ORBS/USDC pool contract. As the representation of the ownership of your contract you receive pool’s tokens that can be redeemed for the underlying assets anytime.
Below are the official addresses for Balancer liquidity pool. Make sure that the address matches to avoid being scammed and losing money to fraudulent pools. This pool was made in accordance with Balancer security requirements, and coin ratio ensures low value volatility.
Liquidity Pool address: https://pools.balancer.exchange/#/pool/0x795dfdfd413c4a9492cef5b58723f9fb3c8af624/
Pool Token address: https://etherscan.io/token/0x795dfdfd413c4a9492cef5b58723f9fb3c8af624
Other articles from the series:
ORBS on Uniswap - and what's next?
Introduction to Automated Market Makers and Liquidity Pools on Uniswap.
How to add liquidity on Uniswap?
Step-by-step guide on how to provide liquidity for ORBS on Uniswap.
ORBS/USDC liquidity pool now on Balancer
Launching stable 90-USDC/10-ORBS open pool on Balancer.
This series of articles is written within the framework of an educational project of Orbs DeFi Portal by Paradigm Ecosystem. Read about the project here.
Paradigm is an ecosystem comprised of a venture fund, research agency and accelerator focused on crypto, DLT, neuroscience, space technologies, robotics, and biometrics — technologies that combined together will alter how we perceive the reality.
Orbs is a blockchain infrastructure-as-a-service built for large scale consumer applications to meet their business and technological requirements. It is the first public permissionless network with hybrid architecture suitable for real businesses.
If you have any questions on how to add liquidity to Orbs or about the upcoming Orbs De-Fi portal, you are more than welcome to get in touch! We are always available in the Orbs Telegram chat.
This is not an investment advice.