Step-By-Step How To Participate as a Liquidity Provider in $RLY
Step by step instructions with Screen Shots
Uniswap — How to Provide Liquidity
- Go to the following Uniswap $RLY Overview link: https://info.uniswap.org/pair/0x27fd0857f0ef224097001e87e61026e39e1b04d1
2. Click I understand. If you’re new to Uniswap, this is meant to protect you from accidentally buying a coin pretending to be $RLY. Always use links from this blog or Discord to be safe.
3. Click + Add Liquidity. This pops out a new window; you should be on the following URL which you can bookmark for faster access in the future: https://app.uniswap.org/#/add/ETH/0xf1f955016ecbcd7321c7266bccfb96c68ea5e49b
4. Connect your Metamask (or other Ethereum wallet supported by Uniswap). You will need equal value of ETH and RLY (not equal tokens).
5. Click Approve RLY to approve $RLY permissions in Uniswap, which pops up a Metamask transaction Approve window.
6. Click Confirm Supply. A second Metamask approval pops up that includes your gas fee + the value you are supplying to the pools. It should look like this:
Metamask Pro Tip: Click Edit right above gas fees. We recommend using the Average gas fee to make sure your transaction processes in a timely manner.
Great! Now you’ve provided liquidity to anyone in the world who wants to swap their $RLY token. This is a critical part of the Rally Network design, where Creators, Fans, and the next 100 million people new to crypto can use $RLY network on the Rally sidechain or Ethereum mainchain and take advantage of the liquidity you have just provided.
7. Go to https://vaults.rally.io/liquidity. You should see that you now have a balance of UNI RLY/ETH that is the same as you saw in Step 5.
8 . Click the UNI RLY/ETH box to expand it. Click Approve, which pops up a Metamask approval transaction.
9. For Balance, choose the amount to stake. Click Max or type the number of LP tokens to stake into the rewards locker. Click Stake and you’re done! Your screen should now look like this:
Congrats, you’re staked and now earning $RLY rewards for providing liquidity!
Claim
You can click Claim to claim your earned $RLY rewards and move it back to your [Metamask] wallet. You can then use it to provide more liquidity on Uniswap or Balancer and come back to add more to compound your rewards.
Help
If you get stuck, come hang out with us in Discord to get some help.
We’ll try to make a lot more of these tutorials for those of you new to crypto, and try to get some creators like DeFi Dad or Kerman interested to make some great videos too ;). Remember, anyone who refers a Creator to make a new social token on Rally gets a big $RLY reward!
Useful links:
Join the community on Discord
Start delegating your yield to earn $RLY via YFI YDV
Use $RLY to provide liquidity and stake LP tokens here to earn $RLY
Vote on Snapshot
Join the discussion on Discourse
