Crypto Updates

How to Make 300% APY Providing Liquidity on Domination Finance

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There are numerous alternatives for supplying liquidity to decentralized financing procedures nowadays. One that is providing much better than routine market returns is Domination Finance.

Domination Finance is a decentralized exchange (DEX) released on the Ethereum, Polygon, and Boba networks. Its app makes it possible for users to hypothesize on various market metrics such as Bitcoin Dominance (BTCDOM).

However, among the more popular activities on the DEX is liquidity arrangement. Previously this month, the procedure tweeted that an outstanding 300% yearly portion yield was offered. To get this juicy return, users can supply liquidity in USDC to the Ethereum supremacy swimming pool on the Boba network.

Juicy 300%+ APR on USDC by LP’ ing $ ETHDOM on @bobanetwork

Add liquidity today on https://t.co/wktuXBnEsF and anticipate your $ BOBA WAGMIv2 airdrop in early May! pic.twitter.com/b0Jy9QHzTh

— Domination Finance (@dominationfi) April 7, 2022

In this guide, we will reveal to you how to include liquidity in Domination Finance.

How to Provide Liquidity to Domination Finance

Adding liquidity to the Defi procedure is reasonably simple. You will require to have some USDC in your crypto wallet before your start.

  1. Firstly, you require to browse the platform and choose the Boba Network from the dropdown.
  2. The 2nd phase is to link your crypto wallet, typically MetaMask.
  3. Then you will require to alter the swimming pool from BTC supremacy to ETH supremacy.
  4. Once this is done, you can go on and click the yellow liquidity button at the bottom and choose deposit.
  5. The USDC you provide will be utilized to mint and swimming pool an equivalent variety of ETHDOM and invETHDOM tokens.
  6. A single property can be transferred, and there is no requirement to include a set. The alternative is offered.

The real yield will differ depending upon the quantity of security in the swimming pool. Furthermore, offering liquidity can lead to impermanent losses.

At the time of composing, Oolongswap reported that there was $182 million in security for the Ethereum supremacy swimming pool. Ethereum’s real market supremacy was around 18.8%.

The group likewise mentioned that liquidity service providers will be qualified for a $BOBA WAGMIv2 airdrop in early May.

BOBA Price Outlook

Boba Network tokens have taken a hit on the day. As an outcome, BOBA was trading down 7.6% at the time of composing.

The token was altering hands for $1.41 however it has gotten 30% over the previous month. BOBA is presently down 82% from its November all-time high of $7.93

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