Adding to the $LEO/$CACAO Liquidity Poll - My Experience

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So, yesterday I decided to move my liquid $LEO to the Liquidity Pool for Leodex.io I didn't put much, but I'd like to Dollar-Cost-Average my Liquid LEO each month into the poll.

I came to this decision after considering these reasons:

  • After hearing how THORChain's token $RUNE increased in price, I wanted to get into $CACAO and I thought joining a Liquidity Pool would be the easiest way as I can take out my CACAO at any time.
  • I wanted to Contribute to the community in some way. I believe $HIVE will be more popular if Leodex becomes more popular.

Step 1: I created a Keystore on Leodex.

I made sure to store my file in a safe place, but I'm still worried about losing it.

Step 2: I got some Arbitrum ETH for gas fees from inside Leodex.io it cost me 60 LEO.

Step 3: I moved almost all of my liquid $LEO to the Arbitrum network via this link: https://wleo.io/leo-arbitrum/

Step 4: I Swapped half of the $LEO amount I had into $CACAO:

Step 5: I added all my $LEO and $CACAO to the Liquidity Pool. That was a mistake!!

Apparently, I needed to leave some $CACAO for the transaction fees for this operation. Since I didn't do that, the $LEO got stuck on the Liquidity Pool alone without its counterpart $CACAO.

I needed to withdraw $LEO first, and then add a lower amount of $LEO and $CACAO to the Liquidity Pool. Once I did that, the transaction went through.

Step 6: Profit! Now

So, that was my experience becoming a part of the Liquidity Pool on LEODEX. I hope to add more in the future as I accumulate more $LEO! Let's go, Lions!!!

Thanks for Reading.~

Posted Using InLeo Alpha



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