How to add/remove liquidity on LuaSwap
LuaSwap V1.0 allows you to swap between ETH & other ERC-20 tokens on Ethereum; between TOMO & other TRC-21 tokens on TomoChain; and generate passive income by providing liquidity, staking LUA & receiving LP fees. Below, we will guide you on how to add/remove liquidity LuaSwap.
Step 1: Go to https://luaswap.org
then click on Pool in Product tab
Connect to LuaSwap via your wallet
Note: Using LuaSwap’s Ethereum version requires the Metamask network to be set to Ethereum. Likewise using LuaSwap’s TomoChain version requires the Metamask network to be set to TomoChain. Follow this guide to learn more.
Click on Add liquidity
Search for your liquidity pool by choosing 2 tokens from LuaSwap menu or pasting the smart contract address into the search bar, make sure to double-check the correct information.
Enter the amount of token you want to supply, LuaSwap will automatically fill the rest with an equivalent amount
then click on Supply button
Make sure to double-check the correct information, LuaSwap will show you the details of the transaction, including the amount of LUA LP V1 tokens you will receive. Click “Confirm Supply” once you’ve agreed with all of the details.
Step 1: Before you can remove liquidity on LuaSwap, click on “pool” then the pair that you provided liquidity or go to https://info.luaswap.org/account/{your address}
Step 2: Remove liquidity
Click on Remove
Select the amount of liquidity you want to withdraw. LuaSwap will automatically inform how many tokens you get back after removing action.
Click on Approve button then sign the transaction
Then click Remove
Step 3: Check your details carefully and click Confirm
The system will give a board informing you how many tokens you got back after remove your liquidity
Check Gas price and Confirm the transaction then go to Etherscan/TomoScan to check your Tx Hash
Warning: Due to the potential of impermanent loss, you may receive a different distribution of tokens upon redemption than you initially added. That means the ratio of your token may change over time. Please educate yourself on the risks of providing liquidity and the concept of impermanent loss before participating