In my last blog post, I walked you through the process of adding liquidity to Aerodrome using TN100x and ETH. In this blog post, I will do the same thing, but with Uniswap liquidity pools instead.
If you haven't read my first piece on liquidity pools, I would encourage you to read it first as it includes a lot more background information. Click here to check it out!
Recently, Moxie created an incentivized liquidity pool on Uniswap which offers very lucrative rewards. (currently over 2000%). Read on to learn how to take part in this new pool.
How To Add Liquidity On Uniswap V2
Adding liquidity on Uniswap can be kind of complicated if you've never done it before. There are 2 different versions of Uniswap - V2, and V3. Today we will only be looking at V2.
Step 1: Go to https://app.uniswap.org/pool and click the 'Connect' button in the top right hand corner of the page. This will connect your wallet to Uniswap.
Step 2: Once you are logged in with your wallet, you will want to make sure you are looking at V2 pools, not V3. Do this by clicking the dropdown box shown below:
Step 3: On this page, you will deposit equal amounts of both assets into the liquidity pool. In our case, we will be depositing Moxie and USDC. Input the amounts that you would like to deposit and then click the 'Allow' buttons for both assets. After you allow both Moxie & USDC, click 'Supply'.
Accept the transaction from your wallet and that's it! You're not providing liquidity for Moxie/USDC on Uniswap V2. But, we're not quite done yet. Next, I will show you where to withdrawal incentivized rewards from Merkl.
What's Merkl?
Merkl is a dapp that incentivizes different liquidity pools by distributing additional rewards to the LP providers. You can use the Merkl site to track LP opportunities across a wide variety of blockchains. It is also where you will be withdrawing the incentivized rewards from our Moxie/USDC position.
Step 1: Go to https://merkl.angle.money/ and click the 'Connect wallet' button at the top right hand corner of the page.
Step 2: Go to your Dashboard by clicking the link at the top right of the page. On your dashboard, you will see a list of your unclaimed rewards and your active positions. Now, because we just deposited into this pool, you won't see rewards right away. Merkl distributes rewards for this pool 3 times per day, so you should see your first set of rewards ~8 hours after depositing.
In the example screenshot below, you will see rewards from a different pool I am involved in. The steps will be the same for the Moxie/USDC pool. After you see rewards available, click 'Claim All' to claim your rewards.
That's it! You now know how to provide liquidity for Uniswap V2 pools and where to claim incentivized rewards from. Please note, there will also be rewards from trading fees in the liquidity pool. Those will be automatically included when you withdrawal your position. The incentivized rewards above from Merkl are an ADDITIONAL BONUS.
As you can see, Uniswap V2 pools aren't that much different from Aerodrome. Where things get interesting is Uniswap V3 which introduces 'concentrated liquidity'. In a future blog post, we will take a closer look at that!
Now that you know how to add Moxie/USDC liquidity, what are you waiting for? Get in this pool while the getting is good!
