Tutorial: How to Add Liquidity to a WOX-TRX Pair Using a Phone

in WORLD OF XPILAR3 years ago

I talked about how to buy a WOX token in the previous tutorial. Now let's talk about what we can do with this token.

In Discord @stef1 remarked that it is a pity that the WOX token is not a STEEM fork. I completely agree with him that STEEM needs to be developed, implemented in various fields, it needs to be helped in every possible way. However, for technical reasons, the developers decided to choose the Tron blockchain. This is also a good decision, because each of us has a Tron in his wallet on the Steemit platform. Each post as a reward we receive a small amount of Tron. What to do with this Tron? You can sell and earn 5-10 dollars, you can wait until the price of Tron rises, or you can use it to buy a WOX token.

The latter option is now the most promising. Why? Because the WOX token is not just a cryptocurrency, it is decentralized finance. With it, your money will work for you. So, while you work in Steemit and earn STEEM, the purchased WOX token will work for you in parallel.

So far, the only way to make the WOX token work is to add liquidity to the WOX-TRX pool. In this case, you will earn with each purchase/sale of the token, which will be carried out on the exchange. How to do it?

So we already have the WOX token. Here we must pay attention to a very important thing. In order to add liquidity to the pool, you need to have not only a WOX token, but also an equivalent amount of TRX at the current exchange rate. You need to have two currencies. Additionally, you need to have another 100 TRX to pay the commission. If all these conditions are met, we begin to add liquidity to the pool.

Let's open your TronLink.

Screenshot_2022-01-02-10-02-20-281_com.tronlinkpro.wallet.png

The balances you see are too small. I have already added liquidity to the pool, otherwise I would not know how to describe this process.

Then at the bottom click the Discover button and get here:

Screenshot_2022-01-02-10-02-26-255_com.tronlinkpro.wallet.png

Next we have two paths. We can click on the browser bar and we will automatically see a tooltip with the address where we bought the WOX token:

image.png

Or you can click this button:

image.png

We will get to this page:

Screenshot_2022-01-02-10-21-56-491_com.tronlinkpro.wallet.png

In the upper right corner, we see that we are in version 1:

image.png

Here we go to version 2 and our page should look like this:

Screenshot_2022-01-02-10-22-09-085_com.tronlinkpro.wallet.png

Currency Tron has already been selected, click on the field below to select the WOX token:

Screenshot_2022-01-02-10-22-27-999_com.tronlinkpro.wallet.png

After that, our page should look like this:

Screenshot_2022-01-02-10-03-55-694_com.tronlinkpro.wallet.png

The line Your Position will be empty for now. Press the Supply button at the bottom. We will see the following page:

Screenshot_2022-01-02-10-04-25-229_com.tronlinkpro.wallet.png

Press the confirmation button:

Screenshot_2022-01-02-10-04-36-311_com.tronlinkpro.wallet.png

Press the Continue button:

Screenshot_2022-01-02-10-04-36-311_com.tronlinkpro.wallet.png

Confirm the transaction:

Screenshot_2022-01-02-10-04-44-388_com.tronlinkpro.wallet.png

Enter the password from your TronLink:

Screenshot_2022-01-02-10-04-52-532_com.tronlinkpro.wallet.png

That's all, congratulations, you added liquidity to the pool.

Sort:  
 3 years ago 

Great guide 👍
Pinned

Thank you for the description.
This should be helpful for new WOX owners. It is really important to have not only the exchanged WOX in the wallet, but additionally TRX according to the price ratio. I had not considered this during the first swap and had to swap back again.... :-(
In addition, you still need the fee of 100 TRX, which you can partially reduce by Energy (through TRX stakes).

I have already added liquidity and am excited about what awaits us.

 3 years ago 

I have already added liquidity and am excited about what awaits us.

Yes, it is very interesting to know what awaits this project. I wish it success, because a lot of work has been invested in it.

Thanks for sharing.

 3 years ago 

Greetings friend @o1eh

Excellent work, very well explained the process to add liquidity of the TRX/WOX pair.

 3 years ago 

Thanks! I would like to take this opportunity to congratulate you on your achievement of 35k SP.

 3 years ago 

Thank you very much my friend.

 3 years ago 

This still looks confusing to me, I the wox token out yet? And are you saying I can use my trx to buy the wox token?

 3 years ago 

I can use my trx to buy the wox token

That's right, you can use TRX to buy a WOX token. Here are instructions on how to do it.

 3 years ago 

Ohh really?😳😳 Thanks for this info.

 3 years ago 

Hi @o1eh

You need to swap PreSale token to live WOX token. And the live token is going to be traded here
Read the explanation here from @tomoyan
https://steemit.com/hive-161179/@tomoyan/woxfi-presale-wox-to-live-wox-token-swap

image.png

 3 years ago 

Thanks for the reminder, but I've already done it. I follow updates in Discord ☺️

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