How to provide liquidity to $PLQ/$USDC
In this guide we will go over how you add liquidity to Osmosis pools. In particular, the $PLQ/$USDC pool which will get incentives in the near future.
Why would you provide liquidity?
When providing liquidity, you will be rewarded with rewards every day from both incentives and swap fees. If you want any more information about liquidity pools (LPING) please click here.
How to provide liquidity on the osmosis and earn rewards
Step 0: Connect your wallet and get funds on osmosis
If you already know how Cosmos works, and already have a wallet please skip this part.
Visit Osmosis, and connect to the DEX. To connect, you can use the following wallets:
- Keplr wallet
- Leap wallet
- Cosmostation wallet
- XDefi wallet
Our wallet guide can be found here.
How to bridge assets
GemGemCrypto has made a fantastic guide on how to bridge assets to the cosmos ecosystem here.
If you prefer a written guide, Axelar has made a guide here.
Step 1: Get $PLQ and $USDC tokens
When you enter Osmosis you are greeted with the swap page. We’re not quite ready to use that, so make your way over to ‘’assets’’
On the asset page you can see all the assets you have on the Osmosis chain. You can get $OSMO tokens on most major centralized exchanges. if your exchange does not support Osmosis, you can always buy $ATOM and deposit those $ATOM tokens via the deposit button on the asset page. When using Osmosis you can also pay gas fees in $ATOM.
In this case, there are already some osmosis tokens. We’ll swap these tokens for $USDC in a bit, but first we also need $PLQ tokens. You can buy the $PLQ tokens directly on osmosis on the swap page, or deposit them on osmosis if you already have some. I already have some in my Planq wallet, so I deposit them from the Planq chain straight to Osmosis.
When you have deposited your $PLQ tokens, your asset section should look like this:
The next step is to swap your $OSMO tokens to $USDC, since we’ll need that for the $PLQ/$USDC pool. Head over to the swap page
In this case, I want to swap 10 $OSMO for $USDC. Click on the swap button and accept the transaction. you should now have $USDC.
We now have all the tokens we need to provide liquidity and earn swap fees & incentives, let's pool them!
Step 2: bond assets to the pool.
Head over to the ‘’Pools’’ section in the menu. you are now greeted with a bunch of pools. Use the search function and search for ‘’Planq’’. you should see the following pools. Click on the $USDC pool.
When you click on the pool, you see the following screen. From now on it is quite straightforward. click on ‘’add liquidity’’
Because classic liquidity pools on Osmosis always have to be 50/50 you have to use both assets. in this case, I can do a maximum of 3.13 $USDC, which means i need to deposit 132 $PLQ as well. Osmosis does this calculation for you. After you have put in the amount you would like to provide, click on ‘’add liquidity’’.
You are now providing liquidity. You are not earning the 180%+ APR yet though, you will now see the following button on the page:
Click on bond shares, you are now greeted with the screen that asks you how long you would like to bond your assets. 14 days is the only option.
Click on bond, execute the contract and that's it! Every day you get paid our in $PLQ rewards. Swap fees will add to your bonded stake.
Happy farming!
Connect with Planq:
