Looking to put your $RUNE to work for some juicy APY... but don't want to sacrifice the security of using your ledger?
Don't fret - LP deposits on @thorswap w/ a hardware wallet might test your patience, but they are doable! I know... I've done it!
Easy to follow “How To” 🧵👇
3/
What you'll need:
-A hardware wallet (I use a ledger)
-2 wallet apps:
1) THOR wallet app on ledger holding $RUNE
2) 2nd wallet w/ your choice crypto to pair in LP with $RUNE (I'm using $BTC)
*Don't own $RUNE yet? See my 🧵 "How to Buy Native $RUNE"👇
twitter.com/cryptoismyjam/status/1504957686990848002?s=20&t=lA-aU-y0zgs0p-UvhTiNhw
4/
-Navigate to THORSwap: app.thorswap.finance
-Click "Wallet" from the menu dropdown on the left-hand side.
-Click "Connect" in the upper-right hand corner.
5/
-FIRST connect your THOR wallet. Disconnect from THOR wallet in Ledger before next step.
-SECOND connect your non-THOR wallet (I am using $BTC, but you can also use several others including $ETH, $DOGE & now $LUNA!)
-You should now see two wallets connected.
6/
-On the left-hand side toolbar, navigate to "Pools."
-Identify the Pool you want to provide liquidity for & click "Liquidity." (I'm entering the $BTC-$RUNE pool with 25% APY)
-You can also access this screen on the toolbar by navigating to "Trade" and then "Deposit."
7/
-Choose how much liquidity you'd like to provide of each asset.
🚨 Important! Make sure you leave enough of each asset to cover the fees, otherwise you will get the error message: "Insufficient Balance for Transaction."
8/
-You've chosen the amount of each asset you'd like to LP. Now select "Add Liquidity."
-Authorize this transaction in your ledger. (Reminder, you are still in your non-RUNE asset wallet - so I authorized my BTC)
9/
-Next you’ll see an error message in the upper right-hand corner: "Submit Transaction Failed. Disconnected Device During Operation: The device was disconnected."
🚨Don’t be alarmed! Error expected.
-Disconnect your ledger completely from your computer.
-Refresh your webpage.
10/
-We will now reconnect our wallets in the reverse order we did before. (see tweet #4)
-FIRST connect your non-THOR wallet (Again, I am using $BTC). Disconnect from this wallet in Ledger before next step.
-SECOND connect your THOR wallet.
11/
-On the left-hand side, navigate to "Trade" and then "Pending LP."
-Your LP pair will show up here but it does take a minute to appear. Take a beat & don't immediately panic at first like I did!
-You may need to log out/refresh before it appears.
12/
-Once your LP pair shows up, click "Complete."
-Add your desired LP amount with the slider.
-Click "Add Liquidity."
-Authorize the transaction in your THOR wallet.
Congrats, you are now providing liquidity on @thorswap! 🥳🎉👏
13/
Options to view your LP:
1) Click the graph icon to "View on THORYield.com"
2) Go directly to app.thoryield.com/dashboard
3) My Favorite: Use the beta mobile app to check your stats on the go!
iOS: apple.co/3uoyj8l
Android: bit.ly/3NjCZoF
14/
Recommended Reading for LPers:
@THORmaximalist on the benefits to liquidity providing:
twitter.com/THORmaximalist/status/1506151968816906243?s=20&t=D6fAjw_3esoGkfqJwGkDtA
@cbarraford on impermanent loss protection (ILP):
twitter.com/CBarraford/status/1504101362694504453?s=20&t=Y5d71lN4V4J5xMzDSs3kTw
@thorallfather on calculating your impermanent loss protection:
twitter.com/thorallfather/status/1490204240832495617?s=20&t=Sqlh-oI-18KppgmlPH97HQ
15/
#THORchad giga 🧠's to follow for engaging $RUNE content, breaking news & in-depth analysis:
@thorswap, @thorchainlpu, @Cbarraford, @ChadThoreau, @thormaximalist, @thorallfather,
@Asian0xV, @LearnTHORChain, @TheRuneRanger, @THORNOOBs, @itsloganshippy