DERI Liquidity Mining
Mining
Overview
There are two ways to do add Liquidity & mine DERI. One is to add liquidity to our in-house pools(Mining (AMM Liquidity Mining) or to add liquidity in existing, predefined spot DEX trading pairs (PancakeSwap & Sushiswap) to increase spot liquidity. In both cases, Liquidity Miner, earn DERI
This article deals with DERI liquidity mining by providing liquidity to predefined DEXs.
Install Metamask or supported Mobile dApp
Desktop: We're supporting the Desktop version of the Metamask wallet for interaction with Deri Protocol.
Mobile: We're supporting various mobile dApps wallets & are also working on supporting more dApps.
Metamask
imToken
Math Wallet
Trust Wallet
Bitkeep Wallet
ONTO Wallet
TockenPocket
Coin98
SafePal
DERI Liquidity Mining
This type of liquidity mining is external. You deposit two predefined assets to its retrospective trading pair on a DEX as liquidity and get pledge tokens, these pledge tokens can be staked on Deri Protocol. On top of this you get a lucrative APY paid in DERI.
Currently we support 2 DEXs:
PancakeSwap (Trading pair: BUSD/DERI) - BNB Chain
SushiSwap (Trading pair: USDT/DERI) - Ethereum
Once you staked your liquidity on the DEX and received the predefined pledge tokens, you're ready to stake them on Deri Protocol
Step 1: Visit the official website of the Deri protocol: https://deri.io/ Step 2: Click ‘Pools’ at upper left corner to enter the Pools section.
Step 3: Choose“ Deri Liquidity Mining” , select the specific pool you wish to add your pledge tokens to, we will take the PancakeSwap BSC Pool as an example
Step 4: Click the ”Stake”button at “Pancake-BSC” pool.
Step5: Hit the “Approve” button on the right side, to grant permission for Deri Protocol to transfer your CAKE-LP to the CAKE-LP pool. Confirm” the request at the wallet page to allow access to the specific pledge token.
Step 6: Select the percentage you’d like to add as liquidity（e.g 100% of your pledge tokens）, hit the “Add Liquidity” button, then click”Confirm” once your wallet requests it.
Step 5: Once the Liquidity adding process is completed, Details regarding the added liquidity can be viewed on the pool page info.
Your liquidity on DEX is subject to Impermanent loss. For more details, please refer to the documentation page of the respective DEX or our Mining Mining FAQ
You should only add DEX liquidity on pairs that are predefined by Deri Protocol! Never add liquidity on empty, unsupported DEX pools!
Is DERI Liquidity Mining on SushiSwap & PancakeSwap risk-free?
No, it is not. Liquidity mining on SushiSwap or PancakeSwap are subject to the risk of impermanent loss. Any resulting permanent loss caused by removing the liquidity is in the user's responsibility. Use only the listed pools on our website to add liquidity. Adding liquidity on empty pools directly over SushiSwap or PancakeSwap can cause a huge or total loss. Any resulting permanent loss caused by removing the liquidity is in the user's responsibility
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