How to provide liquidity on Polkaswap
If you’re reading this you probably already know what Polkaswap is and why it is so important for the crypto ecosystem, if you don’t I recommend you to start to start here: Introducing Polkaswap
In this guide we’ll learn how to provide liquidity for Polkaswap, first go to https://polkaswap.io/#/pool, if you have not provided liquidity so far you should see a window like this.
Here we have two options, we can add liquidity or create a new pair, today we will focus on providing liquidity.
Once you click “Add liquidity” you will be asked to select the token you want to provide liquidity with. I will be using VAL.
Before you confirm your transaction you will get a summary of the share of the pool your liquidity will represent as well as the network fee to be paid. If you are happy with these number click the “supply” button.
As soon as you click the “confirm” button a new Polkadot.js window will be prompted asking you to type your password and confirm the transaction.
Once your transaction has been confirmed your share will be listed in the main screen of the pool page
If you want to remove your liquidity you just need to click the “Remove liquidity” button, there is a slider that allow us to select how much liquidity we want to remove without having to type specific amounts.
Aftert clicking the “remove” button you will be asked to confirm
That is it, once your transaction is confirmed the liquidity will be removed and you will find your tokens back into your wallet. That is it for liquidity provision on Polkaswap don’t hesitate to try it yourself and enjoy of the high APYs and low fees.