Provide and Manage Liquidity
Become a Liquidity Provider
Becoming a liquidity provider is very easy and straightforward:
Go to the pools page.
Select the pool in which you want to deposit your funds.
Select "deposit" and insert the desired quantity in the asset the pool is denominated (in units, not stroops).
Confirm the transaction on your wallet, and wait for the confirmation dialogue to display success (or any potential error).
Now you're officially a xycLoans lender!
Anyone can create a xycLoans pool. Pools can either be verified or not, depending if they are added to the pools-list of our webapp. When a pool is verified, the pool's asset and name are displayed on the webapp, otherwise, those fields will we counted as "undefined".
To make a pool verified, just reach out our team and ask for the specific pool to be added to the pools-list.
Managing Positions
The webapp's home page allows you to track all the pools you are a lender on:
Once you're a lender for a pool, you can perform a variety of actions to manage your liquidity:
Deposit more liquidity.
Withdraw all/part of your position.
Update your rewards.
Collect your rewards.
Withdrawals
Withdrawing can be done similarly to depositing, by navigating to the specific pool's page and selecting the "Withdraw" (next to "Deposit"), entering the desired amount and clicking the withdraw button.
Withdrawing liquidity from your position means that you will in proportion start generating less yield.
Updating Rewards
As a liquidity provider, you earn yield for every borrow that takes place within the pools you are a lender of. However, in order to collect your rewards, you first need to update the rewards.
Updating the rewards is different than collecting them. Updated rewards are still kept within the pool contract.
Because of protocol design, updating your rewards is the only way the pool contract can trace to you the yield accumulated by your deposit: therefore if you have not updated your rewards, even if your funds have generated yield that won't be shown. Update your rewards every time you want to see the updated data about the interest matured by your deposits.
Updating rewards can also be done either from your home page or from the specific pool page.
Collecting Rewards
Collecting rewards is what actually transfers the yield to your account, and can be done from the specific pool's page.
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