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Welcome to Sifchain
Project
USING THE WEBSITE
COMMAND LINE INTERFACE
Developers
CONTRACT ADDRESSES
Pool
Manage LP Positions
Important - Update 19/04/2022
Effective Tuesday, April 19, 2022, changes will be coming to the liquidity add and remove processes. Summary of these changes are provided below, followed by a more in-depth explanation:
- Liquidity Bonding:
- All liquidity is now bonded for 7-days. This means that when executing a liquidity withdrawal, that liquidity enters into a 7-day unbonding period. Rewards are still accumulated during this time.
- As an effect of PMTP, the ratio of assets in a pool is constantly shifting. New liquidity additions to the pool are calculated at the current PMTP ratio by the UI. When you add liquidity, you will be asked to provide the amount of tokens that match the current ratio of the pool.
- Liquidity Unbonding:
- During the liquidity unbonding process, users will only need to indicate the percentage of their pool share they want to unbond. This percentage is then translated into equal parts of each token.
- Liquidity Withdrawal:
- After the 7-day unbonding period, users will have a 3 day window to fully withdraw their liquidity. If the now-unbonded liquidity is not fully removed within that 3-day window, the liquidity is automatically rebonded to the pool. All liquidity will continue to earn rewards up until the point it is fully removed to the user’s wallet.
- When withdrawing liquidity, a share of pooled assets will be returned in line with the current ratio of the assets in the pool. This will no longer be 50/50 split, as the ratio of assets in pools with PMTP is no longer 50/50
Pooling Assets
Users can add any of their tokens to a liquidity pool and earn rewards for doing so. To learn more about the core concept of liquidity pools please refer to our documentation on Liquidity Providers and Sifchain Liquidity Pools.
Adding Liquidity
After connecting your Keplr and MetaMask wallets, and importing assets to Sifchain, you are now ready to add liquidity to our liquidity pools.
- To begin the 'Add Liquidity' process, navigate to the 'Pool' option within SifDEX. Here you will see a screen that looks like the one shown here:
- This screen shows the following:
- A list of all pools within Sifchain - search for specific Tokens using the search bar at the top.
- Pools that you currently have liquidity in are automagically brought to the top of this list.
Clicking on a pool will expand it to allow you to see additional details about it.
Here you can see:
- Your liquidity in the pool (if any).
- Total rewards paid to the pool for the current period. This represents the total amount of accumulated rewards paid to all LPers of this pool up to that point in time for the current period of Sif’s Ascension.
- Time remaining in the current rewards period. A period is 1 week in length.
- Total amount of tokens in the pool.
- The $ denominated price of the non-Rowan token.
- The current arbitrage opportunity in the pool, if available.
- Pool trade volume in the last 24 hours.
From this drop down users can also Add or Remove Liquidity.
- To add liquidity to a pool, click 'Add Liquidity' on the right hand side. This will take you here:
- Here you can select the token which you want to add to the liquidity pool. Click on the token dropdown to see a list of allowable tokens and your associated balances.
- Once you select the token that you want to pool, you will now see your available balance. You may input any amount or click the 'Max' button which will automatically call in your total balance of that token.
- Once you input your desired amounts, you will see some displayed statistics on the pool:
- The exchange rates are displayed.
- An estimation of your pool share if you confirm the transaction is displayed. For more information about calculating pool shares, please see here.
IMPORTANT NOTE: GAS Please ensure you have enough ROWAN to cover the gas fees. This means that if you type in your total amount of current ROWAN, the transaction may fail as you do not have additional ROWAN to cover the gas fees. Leave enough Rowan in your wallet to pay the gas fees on this transaction, and also to remove your LP position at a later date.Typically fees per transaction will be less than one ROWAN, unless the network is very busy.
Removing Liquidity - Unbonding & Withdrawals
While liquidity additions allows for symmetrical or asymmetrical pooling, all liquidity removals will be executed in equal parts of each token. All liquidity removals are subject to a 7-day unbonding period, after which there is a 3-day period where the liquidity can be fully withdrawn. A summary of these changes are again referenced below.
- Liquidity Unbonding:
- During the liquidity unbonding process, users will only need to indicate the percentage of their pool share they want to unbond. This percentage is then translated into equal parts of each token. So for example, if you select to remove 10% of your pool share of the ATOM:ROWAN pool, this 10% will be translated into equal parts ROWAN and ATOM.
- Liquidity bonding:
- All liquidity is now bonded for 7-days. This means that when executing a liquidity withdrawal, that liquidity enters into a 7-day unbonding period. Rewards are still accumulated during this time.
- Liquidity withdrawal:
- After the 7-day unbonding period, users will have a 3 day window to fully withdraw their liquidity. If the now-unbonded liquidity is not fully withdrawn within that 3-day window, the liquidity is automatically rebonded to the pool. All liquidity will continue to earn rewards up until the point it is fully removed to the user’s wallet.
- Example:
- User puts in a request to remove 50% of their liquidity from the ATOM:ROWAN pool.
- That 50% of their liquidity is put into a 'unbonding request'. This will remain in this status for 7 days. During this time, this liquidity still earns rewards.
- 7 days later, that liquidity is considered 'available to be fully removed'. This liquidity will stay in this status for 3 days. Until fully removed, the liquidity will continue to earn rewards.
- If a user does not fully remove their liquidity in that 3-day window, the liquidity is automatically re-bonded to the pool.
- After this 3-day period, if a user allows their liquidity to be re-bonded, they can initiate another unbonding request which will be subject to the standard 7-day unbonding period.
- A user can only ever have 1 active unbonding request per pool at any one time. Thus, users with LP in multiple pools CAN submit multiple requests for different pools, but only one request per pool can be processed.
- A user can cancel any in-process unbonding requests.
- Any newly created unbonding request will adhere to the 7-day unbonding period
Unbonding
To begin removing your liquidity, navigate to the pool you wish to withdraw from on the Pool tab, and click 'Unbond Liquidity'. This will bring up this modal:
Chose the desired % of your liquidity that you would like to remove using the slider, and hit the 'Unbond Liquidity' button. This will result in a prompt from your wallet to sign and confirm the transaction. Once you have confirmed the transaction, the unbonding period begins.
Last modified 24d ago