Defibox Market Making and Mining Tutorial
Last updated
Last updated
This tutorial mainly shows you how to use Defibox, including: how to connect to the WAX cloud wallet, and how to Swap and mine (Liquidity).
Step1:Log in to Defibox (WAX version) official website: https://wax.defibox.io/
Step2:Click [Select Wallet] in the upper right corner of the Defibox homepage, and then click [WAX Cloud Wallet]
Method one：Create a WAX cloud wallet
Step3:After connecting the wallet, click the [Swap] on the interface.
Step4:Enter the amount of token you want to exchange and click [Swap]
Step5:Then a pop-up window will ask you to confirm the exchange order information, and click [Confirm] after confirming that it is correct.
Step6:Click [Confirm], wait for a few seconds, the Swap is completed. At the same time, you can click [My] to view your assets.
In the process of exchange and market making, pay attention to depth and slippage. You can click [Settings] to set the size of the slippage. (Slippage and depth are one of the unavoidable factors that affect trading. The larger the percentage of an order in the pool, the higher the slippage. So you set a slippage tolerance that is too low, which may result in the inability to exchange tokens.)
Step 1: Click [Swap], and then click [Add liquidity] and [add liquidity] on the page.
(Become a market maker to provide liquidity without paying any additional fees, and earn 0.2% of the handling fee paid by trading users according to the market-making ratio.)
To participate in market-making mining, you also need to pay attention to the “annualization of market-making”, “mining weight” and the depth of the pool.
You can click “Details” to view the details of the APY of the trading pair.
Step 2: Select the currency pair you want to increase liquidity, enter the supply quantity, and click [Add liquidity] after confirming that it is correct.
In this way, you have successfully made the market and obtained the market-making certificate, which is LP Token.
Step 3: WAX accounts with market-making certificates can click on “Mining” to receive the corresponding market-making mining rewards (BOX).
(LP Tokens represent your market-making share in the liquidity pool, the transaction fee income from market-making will be accumulated in your market-making assets, and the market-making certificate is also the only proof to retrieve the market-making assets. )
Step 4: Finally, you can click “Market Making Record” to view all your market making content.
