Add Liquidity to the Behodler DEX (and get some free Scarcity (SCX)

How to add liquidity to the Behodler DEX

By WeiDai | Behodler Token Swapper | 29 May 2020


 

1*33Ki9k4tvTjn6r9oKapXRA.png

If you missed the announcement, head over to WeiDai dapp, connect your Metamask account and select Swap. Here you’ll find the Behodler token swapper.

In this article, we’ll explore the ways you can add liquidity and in the process mint the liquidity token, Scarcity (SCX).

If you’re unfamiliar with what liquidity is or what it means in a DeFi application, see this explanatory article.

The first method is to simply swap any token for Scarcity. On the Swap tab, set your input token to the token you’d like to add liquidity for and the output token to Scarcity.

Here, we’re adding Dai liquidity. Note the SWAP button is replaced with an Add Liquidity button when Scarcity is the output.

Conversely if you’d like to cash in your Scarcity for liquidity in the form of a token, you can click on those little pink arrows to swap input and output. Now the action button says “Withdraw Liquidity” when Scarcity is the input.

1*182pwP2tKwa6LQ2uRrjmog.png

Finally, you may want to add liquidity in a certain ratio to maintain a real world price ratio. After all, if you add one token at a time, the price is temporarily imbalanced and someone might come along and execute a favourable trade between the time you added the first token’s liquidity and when you added the second token’s liquidity. In this case, you may want to enter liquidity mode by clicking on the switch below the output text box:

1*I1TcsXcR7gpLJ2MZejVW5g.png

When you do, you’ll be presented with a way to add two tokens in the desired ratio:

Note that Scarcity isn’t an option anymore since you can’t add liquidity for the liquidity token.

Doing this combines the act of adding two tokens into one transaction and does it at the desired ratio. As you can see, you’ll receive Scarcity in return.

Remember that when you add tokens that aren’t Scarcity, Dai or WeiDai into the Behodler, you earn Pyrotokens so remember to claim them on the Pyrotokens tab. If you’re wondering why you don’t earn Pyrotokens for Dai and WeiDai, it’s because WeiDai is the Pyrotoken for Dai. So when you add Dai to Behodler, a portion is taken as a fee, wrapped into WeiDai at the prevailing redeem rate and burnt. When you swap WeiDai, there’s no wrapping step but a portion is also burnt. Burning Pyrotokens and WeiDai increases their redeem rates. If you want to benefit from all this burning, I suggest you buy some WeiDai first and HODL. As for Scarcity being traded in, it is burnt but not as a reward. Instead, burning it serves to increase general token liquidity over time.

BONUS: Liquidity game

When you’ve added liquidity, you don’t have to just sit on your new Scarcity balance. Click on the Sisyphus tab and play the Ethereum game in which you can quadruple your Scarcity holding. Currently there’s a sponsor payment for the next player which means the odds are very much in your favour.

1*DHZPTPi5EeNtxql_hG94ow.png

Second Bonus: Scarcity Faucet

If you’d like to get your hands on some free Scarcity to withdraw tokens like WBTC, Dai, WeiDai, Eth, go to the Scarcity Faucet and drip some free Scarcity into your account.

If you have any questions or comments, send an email to [email protected], tweet us or join our discord server. Alternatively leave a comment here.

How do you rate this article?


15

0

WeiDai
WeiDai

WeiDai, a Dai wrapper with in built burn incentives, belongs to a token family known as thriftcoins. Thriftcoins are a new class of stablecoin designed to grow in value. Here we'll talk about WeiDai as well as all the upcoming WeiDai powered dapps.


Behodler Token Swapper
Behodler Token Swapper

The Behodler Token Swapper offers trading rewards to frequent traders, early adopter and HODLers. The Behodler is powered by an omnischedule token bonding curve, a single pricing contract which is powered by a single liquidity token (Scarcity) and acts as a flash loan resistant token price oracle.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.