ERT Listed on Uniswap: ERT Staking is Live
Today we are pleased to announce that the first ERT-ETH liquidity pool has started its operations on Uniswap. Huge thanks and kudos goes to our friend @kranti_kumar for his inspiration and continuous support as well as his sole initiative to bring ERT to the list.
Now you can start making passive income on a daily basis simply by holding your ERT on the Uniswap platform.
ERT Liquidity pool on Uniswap
Uniswap is a decentralized exchange protocol that allows any user with a Metamask wallet and some ETH or an ERC20 token swap their assets seamlessly.
Uniswap allows anyone to join the ERT liquidity pool and start earning commissions from each trade. Uniswap applies a 0.30% fee to trades, with 0.25% added to the liquidity pool reserves, while the remaining 0.05% are taken as a protocol charge.
Uniswap is open, permissionless, transparent in operations, and now it has become the dominant force in the DEX / DeFi space. The second version of the protocol was released only this spring, and it has already reached $24M in daily volume and $755M in cumulative trading volume, beating out all other platforms including Kyber Network, dYdX, 0x, and Oasis.
So what makes Uniswap so unique?
First of all, it’s a direct ERC20 to ERC20 trading. Any ERC20 token that has a liquidity pool on the platform can be traded with any other token, without am intermediate exchange to ETH. In DEX terms, the liquidity pool means “listed on the exchange” and “has funds for providing tokens and currency for buy/sell sides”. Direct token-to-token trade creates an independent market, with its own liquidity and volume. Also it serves as a resistance against price fluctuations of the main currencies such as BTC and ETH.
Another killer feature of Uniswap is the ability for anyone to join the liquidity pool and start earning commissions from each trade. Uniswap applies a 0.30% fee to trades, with 0.25% added to the liquidity pool reserves, while the remaining 0.05% are taken as a protocol charge. Keeping in mind Uniswap’s transparent nature, it’s possible to predict the platform’s revenue of around $4M in the current year.
Sounds like an excellent staking opportunity for ERT.
I’d like to highlight one more thing — Price Oracles, a mechanism that aligns the Uniswap price to the current market. The relative cost of the token can be changed only through trading. Divergences between the Uniswap price and external prices create arbitrage opportunities, which motivates traders to excess trading and push Uniswap prices toward the actual market price.
The liquidity pool with sufficient funds supports that mechanics by providing enough underlying assets for the trading. As a side effect, it creates an extra income from the commissions for liquidity providers. For more Uniswap v.2 features, please refer to this article.
Make Passive Income with Your ERT
If you are interested in starting earning passive income and joining the ERT pool, here is the quick guide. First, prepare the MetaMask wallet and some amount of ERT and ETH you are willing to add. Then go to the pool dashboard and click on “Add Liquidity” or use the direct link.
You will be asked to sign in with your MetaMask account and specify the amount of ERT and ETH you want to provide for the pool. So if you’re going to lock, for example, 15,000 ERT, the equivalent market value of ETH should be submitted to join the pool as well. When you specify the right amount of currencies, hit “Supply” and verify transactions in MetaMask.
To withdraw your funds, go to the pool section and under “Your Liquidity” hit “ERT/ETH” drop-down menu and click “Remove”. Then specify the amount of withdrawing funds and verify the transaction in MetaMask.
It has already been three years as the crypto industry is waiting for decentralized platforms become user-friendly for the mass user, and with Uniswap v2 that day becomes much closer now.
Thanks and see you on Uniswap!