How to Add Liquidity on Uniswap V2 with an initial APY of 580% on ETH-MAP and USDC-MAP Pools: A Step-by-Step Guide
MAP Protocol as a decentralized cross-chain project, aims to provide users with decentralized cross-chain transaction services. This mission requires $MAP token to have liquidity in the world’s most mainstream decentralized exchange Uniswap, in order to allow decentralized natives to easily use $MAP for crosschain.
Through the recent voting system with MAP DAO, the result has shown that 81.9% agreed on 580% APY of ETH-MAP and USDC-MAP Liquidity Farming on UniSwap. Therefore, holders of MAP can now provide liquidity to the UniSwap MAP-ETH Liquidity Pool and MAP-USDC Stablecoin Pool to earn $MAP rewards. The initial APY will be 580% APY on both pools. In addition, user provides liquidity on Uniswap platform will also earn liquidity fees from every trade made through the protocol.
The followings illustrate a step-by-step guide how a user can add liquidity on UniSwap:
Step 1: Choose a Liquidity Pool you want add on UniSwap at https://staking.maplabs.io/#/home
Step 2: Once you are on the Uniswap website, you will need to click on <connect wallet> in the top right corner, followed by clicking MetaMask.
Then click “Connect” to sync your address to Uniswap.
Step 3: Connecting to UniSwap V2
If you already have MAP and ETH token in ERC-20. Enter the amount of MAP you want to add to the liquidity pool. Uniswap will automatically fill the ETH input box with the equivalent amount. Click “Approve MAP”, then click “Supply” to get LP tokens. Then, continue with Step 9 to stake your LP tokens.
If insufficient balance or not enough MAP tokens, follow step 4 to step 8 and stake.
Step 4: How to swap token from ETH to MAP
click on “Swap tab”, to exchange more MAP tokens required to stake.
MAP Contract Address: 0x9e976f211daea0d652912ab99b0dc21a7fd728e4
Pasting the above smart contract address for MAP into the search bar. Once the contract address has been entered, add the token for easy reference in the future.
Click “Swap” to confirm swap token. Check out Ethereum gas fees during the swap.
Step 5: Connecting to UniSwap V2
Click on the “Pool tab”, then click the “V2 Liquidity” button.
Step 6: Connecting to the pool to add liquidity
Under Pool tab, click the “Add V2 Liquidity” button.
Then select MAP token to search for the MAP/ETH liquidity pool. If you have not add MAP yet, follow step 4 above by pasting the above smart contract address for MAP.
Step 7: Approve MAP and Add Liquidity
Enter the amount of MAP you want to add to the liquidity pool. Uniswap will automatically fill the ETH input box with the equivalent amount. Then click the bright pink “Approve MAP” button and confirm the transaction.
Step 8: Confirm Supply
Then click the “Supply” button. Uniswap will then show you the details of the transaction. If everything looks correct click the “Confirm Supply” button.
You will then need to confirm the transaction in your Metamask wallet. It will display the gas fee and the total transaction amount. If everything looks correct click on “Confirm”.
Congratulations, as soon as the transaction is confirmed you are now a liquidity provider for the MAP/ETH pairing.
Step 9: Don’t forget! Stake your LP into at https://staking.maplabs.io/#/home
Last step! Stake your LP token into MAP-ETH LP to earn $MAP rewards.
That’s all, you can now earn $MAP rewards and earn a liquidity fee for every transaction in the MAP/ETH market!
About MAP Protocol
MAP Protocol is the omnichain layer for Web3 with fully secure cross-chain communication built on Light-client and zk-SNARK technology. MAP provides the cross-chain infrastructure to public chains and dApps by connecting both EVM with non-EVM chains. Developers can access a full suite of SDKs so their dApps can easily become omnichain applications.