Hello seilors!
This time I want to show SparrowSwap - the first DEX Protocol on Sei Atlantic 2. The guide explains how to use this DEX step by step. I hope it will be usefull for you. Let`s start.
First of all, we need a wallet. I prefer Leap Wallet, you can download it using the link below. There are a lot of guides on how to create and use wallet, so you can find them, and we will continue.
So, once you have created wallet, you are ready to start. Visit SparrowSwap, link is here:
https://testnet.sparrowswap.xyz/
When you are on the site, connect your wallet by using “Connect Wallet” button.
When your wallet is connected, go on “Swap” page (using menu on the left side of the site), and select token you want to swap.
Then you have to click “Swap” button, and confirm the swap by clicking “Approve” in your Leap Wallet.
Congratulations! You have just made a swap!
Let`s add some liquidity by using your tokens which you have just swapped. On the left side on the site, click on the “Pool” (below the “Swap”) and choose a pool you want to add liquidity.
I choose SEI/USDC pool. So, click on this pool, press “Manage” button and add some liquidity by writing the amount of tokens you want to add.
Press “Add liquidity”, approve the transaction, and congratulations! You have added a liquidity to pool.
In short, when you are adding a liquidity to a pool, you are receiving % of another users trades (% depends of the amount of liquidity you provide). So, higher amount of liquidity you provide, more % of LP tokens you recieve.
The next option on SparrowSwap is Farm.
Once you added tokens to Pool, you are able to add your LP tokens to Farm. As I provided liquidity to SEI/USDC pool, I will add my LP tokens to SEI/USDC Farm.
Click on “Stake” button, write the amount of LP tokens you want to add.
When you write the amount of LP tokens to stake, press “Stake” button, and confirm the transaction.
Good! You have just staked some of your LP tokens and you will receive RUM rewards, which you will be able to swap to SEI or USDC.
The last option on this DEX is Staking. Go on the “Stake” page (left side menu), and choose what kind of stake you want to use. I will stake my SEI tokens.
So, click on the “Stake” button, write amount of SEI you want to stake. I will stake 4 SEI.
And approve the transaction.
Congrats! You will also receive RUM rewards for staking your tokens (the same you will receive in Farm Pool).
Thank you guys for using my guide. I hope it helped you to understand how to use SparrowSwap. My experience of using this DEX is perfect. I liked the speed of transactions, the site UI and its options.
So, good luck everyone, seilors!