Board/AlgoStake Staking Collaboration
A fantastic collaboration with AlgoStake: BOARD/STKE LP Tinyman with $BOARD and $STKE rewards is now available on AlgoStake platform.
To obtain BOARD/STKE Liquidity Pool, users can add BOARD/STKE LP on Tinyman. To add liquidity you need to first opt-in your account to BOARD/STKE Liquidity Pool. You only need to do this once per account to validate that it has access to the liquidity token.
For staking rewards go to https://app.algostake.org
NOTE: liquidity providers earn a 0.25% fee on all trades proportional to their share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity.
For more info, click here for the Official Tinyman Documentation.
What is a Liquidity Pool?
As described on CoinMarketCap Alexandria, liquidity pools are pools of tokens locked in smart contracts that provide liquidity in decentralized exchanges in an attempt to attenuate the problems caused by the illiquidity typical of such systems. Liquidity pools are also the name given to the intersection of orders which create price levels that — once reached — see the asset decide whether to continue to move in uptrend or downtrend.
The advantage of using liquidity pools is that it does not require a buyer and a seller to decide to exchange two assets for a given price and instead leverages a pre-funded liquidity pool. This allows for trades to happen with limited slippage even for the most illiquid trading pairs, as long as there is a big enough liquidity pool.
The funds held in the liquidity pools are provided by other users who also earn passive income on their deposit through trading fees based on the percentage of the liquidity pool that they provide.
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Originally published at Medium on October 26, 2022.