Provide Liquidity
On this page you will find a step-by-step guide for becoming a Liquidity Provider in a Snek Swap (XYK) pool. Providing liquidity allows you to earn rewards from the fees generated by trades in the pool.
This guide covers both processes of adding and withdrawing liquidity.
Before deciding to become a liquidity provider, we encourage you to visit our Snek Swap product page and to get yourself familiar with the features and caveats of XYK pools.
Add Liquidity
Step 0: Bridge Tokens
Before you can provide liquidity for a pool with BSX and aUSD or KSM, you will first need to bridge these non-native assets into the Basilisk chain. For this purpose, you can use the Karura Bridge.
The bridge can also be used to transfer BSX, aUSD or KSM out of the Basilisk chain and into Karura or Kusama.
For a step-by-step guidance on transfering tokens between Kusama chains, please visit our bridging quide.
Step 1: Navigate to Basilisk Pools Page
https://app.basilisk.cloud/#/pools
Step 2: Connect to Your Account
Connect your wallet to Basilisk by clicking Connect Account (1 in image above).
Step 3: Select Tokens and Add Liquidity
Make sure that Add is selected in the toggle.
Select the token pair (2) and amount of liquidity you would like to contribute (3). Then, click Add Liquidity (4) and sign the transaction using the wallet app.
Please note that you must hold both tokens in the pair to provide liquidity. If you don't have both tokens, you can purchase the other token on Basilisk XYK.
Withdraw Liquidity
Step 1: Navigate to Basilisk Pools Page
https://app.basilisk.cloud/#/pools
Step 2: Connect to Your Account
Connect your wallet to Basilisk by clicking Connect Account (1 in image above)
Step 3: Select Tokens and Withdraw Liquidity
After connecting your wallet, toggle to Remove (2).
Select the token pair you would like to remove liquidity from (3). After that, enter the amount of LP share tokens you are withdrawing (4).
Click Remove Liquidity (5) and sign the transaction using your wallet app.