Beginners Guide to Deri V3 AMM Liquidity Mining
There are two ways to add Liquidity & mine DERI on Deri Protocol, one of them is the AMM Liquidity Mining, which deals with providing liquidity to in-house pools.
To give you a hand, we have prepared below an easy-to-understand graphical guide to help you get started as an AMM Liquidity Provider.
Important Update:
With “External Custody”, Deri V3 has adopted Venus Protocol to hold liquidity, to therefore achieve a higher scalability of base tokens.
As of V3, liquidity providers can deposit the following base tokens to add liquidity on Deri Protocol:
- BUSD
- USDC
- USDT
- XVS
- BNB
- BTCB
- ETH
- LTC
- SXP
- XRP
- DOT
- LINK
- DAI
- ADA
- CAKE
- TUSD
- TRX
- MATIC
Moreover, by adopting Venus protocol as an external custodian, liquidity providers of in-house pools will have additional XVS mining rewards and yields from Venus beside the DERI mining rewards.
Add Liquidity Now!
Step-by-step guide
Add Liquidity
Step1: Visit the official website of the Deri protocol: https://deri.finance/
Step2: Click ‘Pools’ at upper left corner to enter the Pools section.
Step3: Click “Connect Wallet” at upper right corner to connect your wallet to Deri Protocol, and select “ AMM Liquidity Mining”
Step4: Select any pool .Note that each pool supports a number of different base tokens & APY and may have a varying Network. This tutorial will be illustrated using the Futures Main-BSC pool as an example.
Step5: Click the”Stake” button to access the “ Future Main-BSC” pool.
Step6: Select the base token (on the left column) you’d like to add as liquidity, let’s take the “BUSD” base token as an example.
Step7: Enter the BUSD amount you’d like to add as liquidity, at the “ADD” section on the right side, then hit the ”Add Liquidity” button .
Step8: Afterwards you will be forwarded to your wallet, where you need to grant permission of transferring the funds of the specific base token stored at your wallet to the Deri protocol pool you select. Click “Confirm” to ensure the transfer.
Step 9: After the transaction is validated on-chain, adding the liquidity has been completed. Details regarding the added liquidity can be viewed on the pool page info and your specified token (which you added as liquidity to the pools) will be marked with the tick tag.
Step 10: To view the pools you have staked in, you can follow the steps: Select “Deri Official Pools” in the right column, then open “Staked only”. Then in the Liquidity Mining section, you will view only the pools you have staked in.
Withdraw Liquidity
Step 1: You can withdraw your liquidity at any time by clicking the ”Remove” button. Select the percentage of liquidity you’d like to remove (e.g 100%), then click” Remove Liquidity”.
Step 2: Here again you need to confirm the withdrawal by confirming the wallet request
Step 3: After the transaction is validated on-chain, your liquidity removal request has been successfully completed. Your pool balance information will be adjusted depending on how much liquidity you’ve removed & in case you removed everything ( the tag “Staked” will be removed too).
Claim DERI tokens
Congratulations! You can withdraw your liquidity at any time. You can claim the rewards on the overview of the pools section with a blue “CLAIM” button, about every 8 hours after an epoch is over.
About Deri Protocol
Deri Protocol = (Perpetual Futures + Everlasting Options) x Decentralized.
Deri is the DeFi way to trade derivatives: to hedge, to speculate, to arbitrage, all on chain. With Deri Protocol, trades are executed under AMM paradigm and positions are tokenized as NFTs, highly composable with other DeFi projects. Having provided an on-chain mechanism to exchange risk exposures precisely and capital-efficiently, Deri Protocol has minted one of the most important blocks of the DeFi infrastructure.
