SLT is now on Raydium!
Hey everyone. We are pleased to announce that we now have an official swap pair and liquidity pool for Solit (SLT) on Raydium.io. If you are new to DEX, stick around and find out how to easily acquire SLT using the swap option. Additionally, learn how to supply the pool and get all of the benefits of being a liquidity provider.
At the moment, SLT is not on the official SWAP and POOL list on Raydium yet, so some additional steps are required in order to use these features. Once the token is officially supported, it will be available in the drop down menus making things to do a lot of easier.
SLT/USDC Swapping:
Compared to other platforms, swapping on Raydium works in a similar way:
- access the swap pair though this link (give it a few seconds to load the correct tokens) and connect your wallet of choice. Being a permissionless pool, you will also need to confirm that you understand the risk if asked:
- flip which direction you wish to swap (USDC to SLT or SLT to USDC), enter the amount and click connect wallet to swap. You will then need to approve the transaction in your wallet and the new balance should be visible a few seconds later.
- It has never been easier to acquire SLT, even for people who are not all that familiar with DEX and consider it difficult. We encourage you to give it a try!
Adding liquidity to SLT liquidity pool:
- access the pool trough this link (give it a few seconds to load the correct tokens) and connect your wallet of choice
- you must add liquidity to the pool in the form of two tokens at a 1:1 ratio according to USD value. Enter the amount of SLT you wish to add, USDC will adjust according to match a 1:1 ratio (you can also start by adding USDC, in that case SLT will adjust accordingly.) Then click on ‘Supply.’ You will need to click approve in your wallet once to approve the transaction and a second time to approve adding to the pool. Make sure to approve both times!
You should see a confirmation of ‘Liquidity added’. You should now be able to view your LP tokens in your wallet balance. You have now successfully added to Raydium’s liquidity pool. If you wish to reclaim your tokens, simply click ‘Remove Liquidity’ and confirm the transactions.
The one thing you need to be careful when providing liquidity is impermanent loss. It occurs when you provide liquidity to a liquidity pool, and the price of your deposited assets changes compared to when you deposited them. Be sure to do your own research on the topic and educate yourself on DeFi in general and the risks that come with it before you proceed.
We invite all SLT holders to help and add liquidity to the pool! By providing liquidity in the SLT pool, you will get a reward from transaction fees every time someone makes a SLT SWAP transaction based on the percentage of the total liquidity you own. We would also like to inform you that we are working with Raydium on enabling additional rewards for all of our pool providers in form of LP staking and reward farming. We will have more information on the topic soon so stay tuned.
