In this tutorial we will be teaching you how to add liquidity to a decentralized exchange, ETC Swap.
The pair we will focus on in this tutorial is ETH/ETC. The method for other EVM chains, such as BNB, is the same.
We will be using the following tools:
MetaMask for our wallet, allowing easy connection to the Swap
Multichain.org for bridging of assets
ETCSwap.org for liquidity pool
Adding ETH/ETC liquidity to decentralized ETC Swap pool
Let’s get started!
First I sent some ETH to my MetaMask wallet. Minimum amount of ETH for multichain.org swap is 0.017 ETH so I sent 0.05 ETH to test with.
Then, I switched my MetaMask over to the Ethereum Classic network with the following custom RPC:
• Network Name: Ethereum Classic
• New RPC URL: https://www.ethercluster.com/etc
• Chain ID: 61
• Currency Symbol (optional): ETC
• Block Explorer URL (optional): https://blockscout.com/etc/mainnet/
After that I sent a few ETC to my MetaMask. I ended up sending .5 more ETC to balance the wallet. More on that later.
Once the wallets are loaded, its time to begin the next steps.
Head over to MultiChain.org router, https://app.multichain.org/#/router, connect to the app with MetaMask using Ethereum network.
Now we want to swap our ETH over to bridged ETH on the ETC network. This trade looks like this:
MultiChain.org router information:
- Crosschain Fee is 0%, Gas fee 0.00 ETH for cross-chain transaction on Ethereum Classic
- Minimum – 0.017 ETH
- Maximum – 1580 ETH
- Estimated Time of Crosschain Arrival is 10-30 min
- Crosschain amount larger than 320 ETH could take up to 12 hours
After clicking Swap, Confirm the transaction on MetaMask
The transaction can take over 5-10 minutes to complete. For larger transactions, it can take longer.
Providing Liquidity
Once cross-chain transaction is completed, head over to ETC Swap.
Switch MetaMask over to Ethereum Classic network.
Connect to app and navigate to Pool. https://swap.ethereumclassic.com/#/pool
Steps
Click on Add Liquidity
Select ETC as first input
Click Select a token. Pick ETH
Liquidity pools need to be balanced. If you see the red error below, we need to rebalance our wallet. In our case, we have slightly more ETC than its ETH pair. So to fix, we can just click on the green Max next to ETH.
Now you can see everything is balanced and ready to be added to the pool. Click Approve ETH
After hitting approve, we have to confirm the transaction on MetaMask.
The order is now pending, as you can see
Once the transaction is confirmed. We can click on Supply which will turn green.
Confirm Supply
Sign MetaMask Transaction
After that transaction is completed, usually within 30 seconds. We are finished! Navigate to https://swap.ethereumclassic.com/#/pool and check to see your liquidity position like so:
Now that we have added liquidity to the pool. We own liquidity pool tokens that represent the coins we provided to the pool.
Our goal at ETCPool.us has always been to grow to become a large Ethereum Classic mining pool and use its earnings to fund things like these liquidity pools and other development. If you’re a miner thinking of switching pools, please consider joining! We have servers all around the globe, and can provide private nodes for miners if needed.
Thanks for reading!
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