I have been blogging on hive for many years and playing Splinterlands Game and I have heard about liquidity pool many times during this period and also read many informative articles but I did not pay attention to it. It has been a few days now that many of my hive friends are talking about liquidity pool and are working on it. So today I paid attention to it very carefully and today I decided that I will also participate in liquidity pool and put some of my investments in it. I have also watched some videos from YouTube in which information about liquidity pool was being given. Apart from this, I have also read many articles. Today I have also read an article in which liquidity was being told in a very good way. But today I have also provided liquidity myself and the purpose of providing liquidity was to get some experience and I will also check after a few days that the liquidity pool I had chosen How much have I earned in this, how much money have I earned and what have I gained and what have I lost because a person gets a lot of information, but after getting the information, if a person does it practically by himself, then at that time he gets confirmed information. So today I have made a liquidity plan for SWAP.HIVE:SPS . So I will tell you the complete steps of how I have done this liquidity work and I will also share all the information with you. Those who want to provide liquidity will find it easy and they can easily participate in this liquidity pool.
The method of adding liquidity is very easy and you can add liquidity in a few seconds, but you have to keep one thing in mind that if anyone wants to add liquidity, then first of all he has to see which tokens he wants to add liquidity because you need at least two tokens to add liquidity. Suppose you want to add the liquidity of BTC, then you will have to add the liquidity of both USDT and BTC. Since I am adding liquidity on TribalDex and my favorite pair are Hive SPS and the second is Hive Colony token, I have added liquidity of SWAP.HIVE:SPS,SWAP.HIVE:COLONY two tokens today and this is the first time that I have added liquidity.
How to add liquidity on TribalDex?
So now I tell you that How to add liquidity on TribalDex? To add liquidity, first you have to log in to the TribalDex website. Since I log in to tribaldex throught hive keychain, you should also download Hive KeyChain and log in through it. You can see in the screenshot below that I have first clicked on the login button and when you click on the login button, you will be logged in to the TribalDex through Hive KeyChain and all your tokens that are on Hive Engine will be visible to you here.
Swap
You can see in the screenshot above that I have shown the green arrow. In the first screenshot, you have to click on the login button. Then when you click on the login button, it will ask you for your hive username. You have to give the hive username and log in through the active key or as I have mentioned above, you have to log in through the hive keychain. When you log in, you can see in the second screenshot that the swap button is written. You have to click on the swap button. If you have the desired tokens whose appearance you are selecting, if you do not have those tokens, then first you have to deposit those tokens in the hive engine, then that hive engine deposit will be visible to you here. Similarly, if you already have the tokens of both the pairs, then you do not have to click on the swap button. If you have only one token from the pair and the other is not available, then you You have to click on swap and when you click on the swap, you can also get the tokens required for these two pairs through swap as I explained in the screenshot below.
In the screenshot above, you can see that I only have Hive coin, but since I had to add liquidity in the Hive SPS pair, I needed SPS coins because I had staked SPS coins in the past days and I did not have any sps, so I first bought SPS coins, that is, I swaped Hive to get SPS coins. You can see in the screenshot above that I have swaped SPS coins with Hive and I have added liquidity to pool, Since it often happens that you have Hive coins but you do not have the coin with which you want to add liquidity, you must have both coins for whichever coin you want to join the liquidity pool on Tribaldex. So when I swaped Hive to get SPS, So I now have both Hive and SPS coins and now I have to add them for liquidity.
Add Liquidity
To add liquidity of any coin, you have to click on the Add Liquidity button. When you click on the Add Liquidity button, then you have to select the pair. I have selected the pair of Hive SPS Coin. I have selected this pair because first of all, I play the splinterlands and I understand the SPS coin, what is the value of this SPS coin. Apart from this, I am associated with Hive. So I selected both these pairs and these are my favorites too. So I selected Hive SPS pair and added liquidity for it. Today, I have added two liquidity and thus I have provided the liquidity of SPS and Colony tokens. Now the method of providing liquidity is very easy. When you have completed the above two steps, then you have to click on the Add Liquidity button and select that pair as you can see in the screenshot that Swap Hive SPS Pair is visible. Since I have selected the pair of hive sps , then you have to select both of them in equal value from the two tokens that I have. And when you select them in equal value, then you have to click on the Add Liquidity button. You have to remember that if you are investing in a hive amount of one dollar, then you have to invest in SPS of one dollar only. If you are investing in a hive of 10 dollars, then you have to invest in SPS of 10 dollars . Thus, the amount of both coins should be equal and In this way, after doing the same amount, you have to click on the Liquidity button and thus your Liquidity will be added.
This was a very easy process and you can see in the screenshot I have explained each step and today I have provided Liquidity of two tokens. Today I have added , one is SPS and one colony and I have created a pair of both of them with Hive. So you can also see in the screenshot that in the position I have, in this position you can see both my liquidity that I have added. Now after a few days I will also share this information with you that how much profit did I get from the two positions in which I added liquidity and if I got profit then how much did I lose and if I lost then how much did I lose. If I talk about total investment here then I have invested a total of 10 Hive and I bought some colony tokens and some SPS and then taking their equal quantity I have addedLiquidity. In this way I hope that All new friends who wanted to know this process, I hope you will like my tutorial and my first investment in Liquidity pool and we should keep learning all these things and I think that adding liquidity is a great way through which we can earn money. Apart from this, there is profit and loss in it, but the loss is negligible. If you hold the Liquidity and add liquidity for the long term, then you will not lose. If you remove the Liquidity during the loss, then you have to bear the loss. I hope you will like this information of mine.