How To Use Metamask Wallet To Provide Liquidity On MojitoSwap.
This article explains how to provide liquidity to MojitoSwap using the Metamask wallet.
What is MojitoSwap, exactly?
MojitoSwap is the first audited decentralized exchange with a high APR and an Automated Market Maker. It provides users with a secure environment for their assets as well as a place to potentially earn a big return (we call them to pool and bar).
MojitoSwap is a DEX created by a group of KCS members with the goal of providing easy access to the KCC DeFi ecosystem. Technical experts who previously worked for large Internet enterprises and have extensive experience in blockchain development, senior research analysts who have worked on multiple blockchain projects and have a thorough understanding of the DeFi ecosystem, HODLers, and early BTC and ETH investors make up the MojitoSwap team.
What is a Liquidity Provider?
A liquidity provider, also known as a market maker, is a person who donates their crypto assets to a platform to enable decentralized trading. They are rewarded through fees collected from trading on that platform, which may be called “passive income.”
It’s important to keep in mind that the assets provided are locked to the platform for the duration of the user’s liquidity provider.
How does a Liquidity Pool work?
The value you give will be in the form of a token pair, which will be used to offer liquidity and will be secured by smart contracts. The liquidity you provide is put in a liquidity pool, which is frequently used by decentralized exchanges. A liquidity pool is identified by the token pair that it represents. For example, KCS-USDT is a liquidity pool that manages the KCS/USDT token pair’s liquidity.
Liquidity Providing on MojitoSwap.
Step 1: To begin, log into your Metamask wallet.
Step 2: Use your built-in Dapp browser to go to this page. https://app.mojitoswap.finance/
Step 3: You’ll see an Ethereum logo in the top toolbar when you first enter the site; click it to switch to the KCC-MAINNET (KCC)
Step 4: Then click the menu button in the upper left corner of the page.
Step 5: Then, from the drop-down list, choose Add Liquidity.
Step 6: It will take you to the page where you may add liquidity. “Add Liquidity” should be chosen.
Step 7: To provide liquidity, select one of the tokens in your wallet.
Step 8: After you’ve selected your token, you must allow the smart contract for it to interact with your tokens. Click the approve button to do so.
Step 9: After selecting the button, navigate to your MetaMask app and sign the transaction.
Step 10: Once the transaction has been accepted, click the provide button to request another signature in MetaMask; once granted, you will be an LP receiving transaction fees.
Congratulations! You now understand how to use MetaMask Wallet to add liquidity to MojitoSwap.
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