How to add liquidity on Uniswap
SingularityNET's Phase II has passed another milestone: the Phase II token – AGIX – is now trading on Uniswap, the leading decentralized exchange. This gives traders the opportunity to trade between AGIX and Ether while keeping total control of their tokens.
As you may know, decentralized exchanges like this work a bit differently from centralized ones. Centralized exchanges usually have an order book posted next to each trading pair, listing the open buy and sell offers, so buyers and sellers can meet in the middle. But this is only possible on centralized software; Ethereum can't process the number of transactions needed for the order book model. So decentralized exchanges incentivise liquidity pools for each trading pair.
In April, we accepted suggestions from our community that giving the airdrop only to private wallets ran the risk of drying up the liquidity pools, and we altered the airdrop mechanics to give SDAO to liquidity pool participants as well. This means you have one last opportunity to participate in the SDAO airdrop of 5 million, by adding liquidity to the AGIX Uniswap pool. The full details on the airdrop are on our blog here.
We opened a AGIX-USDT liquidity pool on July 7th, to allow even more users to participate in the ecosystem.
For now, please only add liquidity using v2 – version 2 of Uniswap. At the time of writing, there is no active liquidity pool for AGIX on v3 of Uniswap.
Liquidity pools provide ETH to ETH buyers and AGIX to AGIX buyers, so to contribute to the pool you will need both in your wallet. You will also need a little extra ETH to cover the fees involved in joining the pool.
These links will take you directly to the v2 liquidity pool and from there it just takes a few clicks to add your capital to the liquidity pool –
To add liquidity to the WETH-AGIX pair: https://app.uniswap.org/#/add/v2/ETH/0x5B7533812759B45C2B44C19e320ba2cD2681b542
To add liquidity to the USDT-AGIX pair: https://app.uniswap.org/#/add/v2/0xdAC17F958D2ee523a2206206994597C13D831ec7/0x5B7533812759B45C2B44C19e320ba2cD2681b542
1. Add the AGIX token to Metamask if you have not already done so.
Token Contract Address: 0x5B7533812759B45C2B44C19e320ba2cD2681b542
Token Symbol: AGIX
Decimals of precision: 8
2. Click 'Connect to a wallet' in the top right corner. You will be prompted to unlock your Metamask wallet –
3. Input the amount you want to add to the pool. You can specify the amount either in AGIX or in ETH, and Uniswap will automatically calculate the other one at the pool's current rate (Note that Uniswap treats ETH and WETH9 as the same thing, so it doesn’t matter which you see.)
4. Click 'Approve AGIX' –
You will be asked to approve the Ethereum transaction and pay the gas fee –
5. Finally, click 'Supply' to supply your capital to the pool. Once the transaction completes, you will receive your LP tokens in your wallet –
And that’s it! Uniswap will now show you your pool share, signifying that you are a part of the liquidity pool –
If you are supplying liquidity on June 18, you will be able to register for the airdrop at airdrop.singularitydao.ai during the registration period between June 20 and June 23.
For full details of how the airdrop works, see our blog here.
