Maximize your ERC20 tokens sitting idle in your Metamask with Uniswap

Screenshot 2020-08-12 at 4.58.15 PM.png

Uniswap has been really pumped up with volume these days since its the easiest way to swap your ERC20 tokens to almost anything ... as long as there is liquidity.

One of the way to actually earn some cryptos from Uniswap is actually providing Liquidity. How to do it is actually extremely easy. Just head to this page and you would be able to have a quick idea as to which pairs are gaining the most fees.

https://uniswap.info/home

Screenshot 2020-08-12 at 5.02.06 PM.png

You can see how much fees are being generated with some of these pairs. Now ... if you were to add in liquidity for these pairs generating high fees, you would then be able to receive some of these fees as part of your gains. This is not always the case though as you would need to have a significant amount of liquidity added in for you to maximize your earnings.

If you are thinking of buying AMPL just to provide liquidity .. it may not be very profitable in a short term, however in a long term .. it may work in your favour.

Screenshot 2020-08-12 at 5.05.54 PM.png

Adding in liquidity is pretty simple .. What you need is select a pair and then you have to have a balance of 50/50 based on the pair you have selected. Example as the image above , you would require to have the similar amount of DAI and ETH in value to be able to add the liquidity.

Once you have done it .. just click Supply and you are done. ( You may need to approve and sign the token first before being able to supply. That should take a few mins )

Being a liquidity supplier in Uniswap is a long term thing and not really for a quick short term gain. With the number of users of Uniswap these days, you may be able to gain pretty quick especially with the popular pairs. (Not financial advise)

Do give it a try with small amounts and see how it works to understand this better. The choice is yours.

Cheers guys and have a great day ahead

H2
H3
H4
3 columns
2 columns
1 column
1 Comment
Ecency