Adding and Removing LP to and from the Pools
Spartan Protocol uses a bespoke UX to differentiate itself from the many other AMM protocols out there.
While the team continues to work on delivering Synthetic Assets next year in 2021, users are able to earn trading fees and SPARTA yield emissions by providing pool liquidity.
Step 1: Join the Pool and Approve Contract Interactions
Click on ‘Join’ for the pool you are interested in, and access the LP Page. This page is broken down into two sections, the Pool Information, and the Interface.
The Pool Information will give you details related specifically to each liquidity pool, as per the below information for the BNB:SPARTA Pool.
The Interface section will allow you to:
- Add BNB + SPARTA symmetrically to receive LP Tokens
- Add BNB Asymmetrically to receive LP Tokens
- Remove your base assets from their LP Tokens
The first time you enter the Pool, you will need to approve your wallet to interact with the Smart Contract, by clicking the ‘Approve SPARTA’ button. Depending upon which Pool you are accessing, you may also need to approve the paired asset as well, such as BTCB, BUSD, USDT and others.
Step 2: Pooling
Clicking on ‘Add Both’ allows you to either enter a BNB value manually, or to use the Slider bar to select a percentage of your BNB holdings.
Spartan Protocol will automatically pair up your SPARTA holdings to ensure that you add liquidity in a perfectly balanced pair. Your estimated LP Token holdings will be displayed, and once clicking on ‘Add to Pool’ these will be delivered to your wallet.
Note: You may need to add the LP Token manually to see it in Metamask, but the transaction will be present on the blockchain. You can also view your tokens by clicking on ‘Wallet’, selecting ‘View all assets’, and toggling to the LP Shares tab that will appear
PROTIP: POOL SYMMETRICALLY IF THIS IS UNCLEAR
Spartan Protocol’s AMM generates LP Tokens based on a 50–50 split of Asset + SPARTA. As such, users are given the option of adding a base asset on it’s own, and having the protocol perform a swap to achieve that 50–50 split. To do this, click on the ‘Add BNB’ (or other paired asset) tab below.
Step 3: Removing from Pool
Removing SP Tokens from a Liquidity Pool involves using the ‘Remove Both’ tab.
Users are able to select a percentage of the LP Tokens they wish to convert back to SPARTA and paired asset, or use the slider to easily select 100%.
Be aware that if you have decided to Stake your LP Tokens, you will need to un-stake them via the Earn page before Withdrawing them. Only tokens ‘above the line’ can be withdrawn.
Asymmetric withdraws are not currently enabled, but users are welcome to perform a swap immediately after withdrawing their paired assets.
Happy Liquidity Provision!
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