Liquidity and Stake Guide in Monsterswap
Monsterswap allows you to concentrate your liquidity position within a custom price range.
How to add Liquidity in Monsterswap
- In the Metamask app, Click on the explorer button.
2. Go to Monsterswap, and connect your wallet. Next, select “Pools” to open the Pools page and Select New Position.
3. Select the two token pairs you want to add liquidity for.
Consider the Total Value Locked (TVL), trading volume, and token price when selecting tokens.
4. Then Select the fee tier for your pool. Each pair of tokens offers 4 fee tiers: 0.01%, 0.05%, 0.3%, 1%.
A liquidity pool may or may not exist at the fee tier selected. If the pool already exists, then your liquidity position will be added to the pool. If the pool does not exist, your liquidity position will create a new pool at the fee tier selected.
5. Set the Price Range in which to provide liquidity.
You can enter a specific range, or provide liquidity for the full price range.
If the price moves out of your set range, then your liquidity position will be concentrated into one of the two assets and not earn fees.
Note: Your price will round to the nearest tick.
6. Enter the amount of tokens you want to deposit into the liquidity pool, or select “Max” for the maximum amount of tokens.
Select “Approve”, then in your wallet allow your tokens to be used for providing liquidity. This transaction has network costs.
7. Review the liquidity position details, and then confirm the transaction in your wallet. This transaction has network costs.
Select “Add”, and then confirm the transaction in your wallet. This transaction has network costs.
8. Once completed, you can view and manage your liquidity position from the Pools page.
Additionally, to participate in some events(https://discord.com/channels/844106979646898219/869155586636406795/1170985681523322910), staking the liquidity is necessary. Follow the steps below to stake your liquidity.
***CAUTION***
Once staked, there is a 14-day cool-off period to unstake. Please double-check your liquidity before proceeding with this feature.
How to Stake in Monsterswap
1. Select “Stake” in Pools.
2. Review the stake details, and then confirm the transaction in your wallet. This transaction has network costs.
***If you encounter the Transaction error in the image, please follow the steps below.
1) Click on the Gas Fee
2) Click on Advanced Options
3) Change the Max priority fee and Max fee to 5100 GWEI and Save.
