Hello to my fellow community members,
Friends, I have been participating in liquidity pools for the last two months on Hive blockchain. The first liquidity pool I participated in was ZING token and Hive token and it went quite well for me. I am still participating in it and I am not removing the liquidity even after the downfall in the price of ZING token.
Today I am going to add liquidity in a new pair which I think is trending on Hive blockchain. The pair is Colony Token and Hive Token. To do that I am going to guide you in this blog so stay with me so you can understand how to add liquidity in this pair.
Before I tell how to do that, I want to share that about three months back I bought 5000 Colony Tokens and staked them on the Arcade Colony website as you can see in the screenshot below.
So yes friends, I already know about this token and that is why I am adding liquidity of Colony token with Hive token and experimenting on my journey of liquidity pools further. So first of all I went to the Tribaldex website and bought 2600 Colony tokens which is worth 3 Hive as you can see in the screenshot below.
So I headed over to the liquidity pool section after I bought 2600 Colony tokens and searched for the swap.hive and Colony token pair there as you can see in the screenshot below. Then I used 2.52 Hive to add into the liquidity with 2600 Colony tokens and clicked on add liquidity to add my share into this pair.
You can see my liquidity pool history in the screenshot below. The first one is obviously the old one where I have liquidity for Zing and Hive token and the second one is for Hive and Colony token which is at 26% APR at the time of writing this blog. The Zing:Hive liquidity pool is still at approximately 50% APR which is almost twice compared to this new liquidity we just carried, but still I am here to experiment with things so I am participating in both of them.
I have been away from blogging recently because I was busy with some work. I was working on a new project at my office, but when I checked my transaction history, I saw that three weeks ago we had added some liquidity into the Zing and Hive pair and now, today, fresh liquidity is being added into the pair I discussed in this blog.
I have heard a lot about Colony Token and that is the reason why I am participating in the liquidity pool here. I think I am going to receive 3.5 Colony Tokens as rewards per day, which is equal to 1000 Colony Tokens in a year. And I think it is not at all bad for me. I am going to keep adding into this pair side by side over the period of time.
So that’s all friends for this blog.
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