Providing liquidity on decentralized exchanges (DEXs) has become a popular way for cryptocurrency investors to earn passive income. STON.FI, a leading DEX on the TON blockchain, offers a unique opportunity for investors to provide liquidity and earn rewards. In this article, we will provide a step-by-step guide on how to provide liquidity on STON.FI
Step 1: Create a Wallet
To provide liquidity on STON.FI, you will need to create a wallet that supports the TON blockchain. We recommend using Tonkeeper or TON Wallet, both of which are secure and user-friendly.
Step 2: Fund Your Wallet
Once you have created your wallet, you will need to fund it with TONCOIN, the native cryptocurrency of the TON blockchain. You can purchase TONCOIN on various cryptocurrency exchanges or through the (link unavailable) platform.
Step 3: Access STON.FI
To access STON.FI, simply visit the website and connect your wallet. You will need to authorize the connection and confirm that you are the owner of the wallet.
Step 4: Select a Liquidity Pool
STON.FI offers a variety of liquidity pools, each with its own unique characteristics and rewards. You can choose from pools such as TONCOIN/STON, TONCOIN/WTON, and others. Be sure to research each pool thoroughly before making a decision.
Step 5: Add Liquidity
Once you have selected a liquidity pool, you can add liquidity by depositing TONCOIN and the corresponding token. The amount of liquidity you can add will depend on the pool's liquidity requirements and your own financial resources.
Statistics and Data
According to data from DefiLlama, STON.FI has a total value locked (TVL) of $108.83million, with a growth rate of 12.5% over the past 30 days. The platform’s trading volume has also been steadily increasing, with a daily trading volume of $10.4 million.
The most popular liquidity pools on STON.FI include:
- TONCOIN/STON: With a TVL of $43.2 million and a 24-hour trading volume of $2.3 million.
- TONCOIN/WTON: With a TVL of $23.1 million and a 24-hour trading volume of $1.4 million.
Risks and Considerations
Providing liquidity on STON.FI carries several risks, including:
- Impermanent loss: The risk of losing funds due to price fluctuations.
- Liquidity risk: The risk of being unable to withdraw funds due to low liquidity.
- Smart contract risk: The risk of smart contract failures or vulnerabilities.
Conclusion
Providing liquidity on STON.FI offers a unique opportunity for investors to earn passive income and contribute to the growth and development of the STON.FI ecosystem. By following the steps outlined in this guide, investors can get started with providing liquidity on STON.FI and start earning rewards. However, it is essential to carefully consider the risks and considerations involved and to do your own research before investing.
Links:
Website: https://ston.fi/
X: https://twitter.com/ston_fi
Discord: https://discord.gg/bdmaGV6qUw
Telegram: https://t.me/stonfidex
Dex data on Defi lama: https://defillama.com/protocol/ston.fi?volume=false