Step-by-Step Guide to Providing Liquidity to the PEN/DOT Pool on Zenlink

To become a PEN/DOT liquidity provider on Zenlink DEX and earn LP rewards, follow these simple steps:

1. Get PEN
2. Get DOT
3. Transfer DOT to Pendulum Network
4. Connect Your Wallet on Zenlink
5. Choose the Pool
6. Add Liquidity

Step 1. Get PEN

If you already have PEN >> skip to step 2.

From Centralized Exchange MEXC

• Sign up with MEXC and purchase Pendulum (step-by-step guide) Withdraw your PEN tokens to your Pendulum address. Check out our docs if you need help setting up your Polkadot/Pendulum wallet.

From Decentralized Exchange (DEX)

• PEN is listed on Zenlink DEX and StellaSwap.
• On Zenlink DEX, connect your wallet to Zenlink, and ensure your wallet is on the Pendulum network. Go to the “Swap” section of Zenlink. Select the asset you want to swap for PEN such as DOT or GLMR.
• You can also swap a variety of Polkadot native assets (e.g. DOT, USDT, USDC) for PEN tokens using the Stellaswap trading UI on Moonbeam.

Fiat On-Ramp

• You may use Alchemy Pay's fiat on-ramp solution if you prefer to purchase PEN directly with fiat currency (e.g. USD, EUR).

Step 2. Get DOT

From Centralized Exchange

• To obtain Polkadot’s native DOT you can visit one of these major CEXes it is listed on. Options include Binance, Kraken, Coinbase and more.

From Decentralized exchange (DEX)

• DOT can be purchased on several DEXs, including Stellaswap, Zenlink, and HydraDX. Then, send the DOT to the Pendulum address.

Step 3. Transfer DOT to Pendulum network

If you already have DOT on the Pendulum network >> skip to step 4.

To send DOT to the Pendulum network, please use NovaWallet on your mobile for the transfer.

• Within NovaWallet, locate ‘Polkadot’, then click DOT.

• Choose ‘Send’. Then, switch the recipient network to Pendulum.

• If you are using the same wallet for Zenlink, select ‘Myself’. If using another wallet later for Zenlink, carefully copy the correct Pendulum address.
• Enter the DOT amount and continue to execute the transfer.

Step 4. Connect Your Wallet on Zenlink

After transferring DOT to the Pendulum network with NovaWallet, it’s advantageous to continue using NovaWallet for seamless transactions and connectivity.
To connect your wallet on Zenlink:

• Navigate to Zenlink’s Pool UI.
• Click "Connect Wallet" and select your wallet type.
• For NovaWallet users, choose ‘Wallet Connect’, scan the QR code with NovaWallet, and complete the connection steps.
• Once connected, ensure your wallet is switched to the Pendulum network.

Step 5: Choose the Pool

• At ‘All Pool’, it displays all the available liquidity pools of the networks. Switch the ‘All Networks’ to ‘Pendulum’ to see the available pool on Pendulum.
• Select the PEN/DOT pool to provide liquidity.

• Once you have selected the pool, click ‘Deposit’ which will bring you to the page for adding liquidity.

Step 6: Add Liquidity

• Enter your desired amount of PEN or DOT. The corresponding amount needed for the other token in the pair will be automatically calculated based on the current pool ratio.
• Review the pool details. After approval, click on “Add Liquidity” to add your tokens to the pool. Then, confirm the transaction in your wallet.

• Navigate to the ‘My Position’ section to view your contributed liquidity.

Congrats! You’ve become an LP on Pendulum through Zenlink. Your contribution to these liquidity pools goes beyond earning rewards. By providing liquidity, you’re also playing a critical role in ensuring smooth and efficient trading for everyone within the Pendulum ecosystem. Don’t forget to monitor your LP positions and watch your rewards grow over time.

To ask any questions please join our community on Telegram and Discord, we’re ready to support you around the clock.

About Zenlink

Zenlink is a decentralized exchange (DEX) protocol built on the Polkadot network, aimed at facilitating seamless interoperability and liquidity sharing across different blockchains. Leveraging the advanced capabilities of Polkadot, Zenlink offers users a wide range of DeFi services, including swapping, liquidity provision, and cross-chain trading.

About Pendulum

Building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized Forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.

Keep your eyes on the Pendulum!

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