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

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

1. Get PEN
2. Get GLMR
3. Transfer GLMR 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 GLMR

From Centralized exchange

• To obtain GLMR, you can use any of the CEXes it is available on. Options include Binance, OKX, Kucoin and more. After purchase, withdraw GLMR to your Pendulum address that you will use for providing liquidity.

From Decentralized exchange (DEX)

• You can obtain GLMR by visiting the Gas Swap option on Stellaswap and swap a variety of EVM assets or native Polkadot DOT into GLMR.

Step 3. Transfer GLMR to Pendulum Network

• Once you have bought GLMR, let's transfer your GLMR to the Pendulum network using Moonbeam's XCM bridge.
• At 'Token', make sure you have selected GLMR
• Set Moonbeam as the sender and Pendulum as the recipient network.

• Then, enter the amount of GLMR you want to send to the Pendulum network.
• Click 'Send' and follow the prompt to complete the transfer.

Step 4. Connect Your Wallet on Zenlink

• Navigate to Zenlink’s Pool UI.
• Click “Connect Wallet” at the top right, select your wallet type, and follow the prompts to connect. 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/GLMR 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 GLMR. 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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