Jumping Into The Liquidity Pool | And It is A Headache Already

in LeoFinance2 months ago

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This year, I decided to take this account seriously, and when I say seriously like learn more about Hive, the projects, and how I can accumulate more tokens than the usual route which is to post content and then comment and interact with others people.

There's nothing wrong with that as I am able to build some connections and friends whom I can bother from time to time but since 13% APR isn't that much perhaps why not try to learn more on how to maximize it?

I love reading multiple stuff that piques my interest. But since I am still working full time I cannot digest some information from blogs and understand it very well. I decided to search for short information on what a liquidity pool is and stumbled on White Hat crypto's explanation.

The tagline even your grandfather can understand hooked me to listen further for the record I am not that old but something told me that I will not be having a hard time getting the gist.

I myself never knew that it can be easy to understand, I mean when someone will be presenting you a long pile of text with some charts and terminologies that you do not use every day how can you get a gist right?

So earlier when I am trying things - since most of the time I just try things first and then learn it later. I did enter the pool for SIMS token for Dcity

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At first, I am getting an error because I cannot complete the transaction. I hit max Hive ( which is the one available in my hive-engine wallet ) and cannot proceed. So I did try to click the MAX sim instead and it auto-populated the Hive amount which is 1.34674521 Hive.

This is where I understood the concept of Automated Market Maker and how the amount that I should be sending in the pool should be equal.

Right now, I just swapped some hive and add some tokens to the liquidity pool. The plan is at the very least some of my earnings is some to be used to power up my account and then the others will remain in HBD savings for emergencies perhaps and then a good portion will be in the liquidity pool.

I did not check the numbers and APRs yet so I just pick whichever I saw had LP rewards. I do not want to be too technical yet and be keen on details as I am guilty of such a habit. ( I am a reconciliation specialist by trade btw so most of the time I work on figuring data and processing corrections to the details to balance the sheets in the accounting books ) .

Currently, I am looking to the post of other folks here in Leofinance and trying to digest the details one by one and so far I am having a mental headache due to info overload.

I think that is all for me and if you haven't studied how it works better try to learn it too! It is fun to learn stuff nowadays and as always do not die in the process.

Tp

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soon you'll be in CUB and Polycub, without a headache ;)

Posted Using LeoFinance Beta

Looking forward to that happening captain! So far let me take some acetaminophen and enjoy this migraine.

Posted Using LeoFinance Beta

That video was very helpful.
Thanks for sharing it.

Yay! 🤗
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I am also not checking the APRs. We should know them by now but I'm lazy to understand them all. When you know something, please teach me TP! HAHAA TP the best