DERI Liquidity Mining
Mining

Overview

There are two ways to do add Liquidity & mine DERI. One is to add liquidity to our in-house pools(Mining (AMM Liquidity Mining) or to add liquidity in existing, predefined spot DEX trading pairs (PancakeSwap & Sushiswap) to increase spot liquidity. In both cases, Liquidity Miner, earn DERI
This article deals with DERI liquidity mining by providing liquidity to predefined DEXs.

Supported Blockchains

Deri Protocol runs completely on-chain and does not require any registration as on centralized exchanges. To mine on Deri Protocol users require a non custodial wallet located on the following Blockchains:
  • Binance Smart Chain (BSC)
  • Polygon
  • Ethereum (currently inactive)
  • Huobi ECO Chain (Heco) (currently inactive)

Install Metamask or supported Mobile dApp

Desktop: We're supporting the Desktop version of the Metamask wallet for interaction with Deri Protocol.
Mobile: We're supporting various mobile dApps wallets & are also working on supporting more dApps.
  • Metamask
  • imToken
  • Math Wallet
  • Trust Wallet
  • Bitkeep Wallet
  • ONTO Wallet
  • TockenPocket
  • Coin98
  • SafePal

DERI Liquidity Mining

This type of liquidity mining is external. You deposit two predefined assets to its retrospective trading pair on a DEX as liquidity and get pledge tokens, these pledge tokens can be staked on Deri Protocol. On top of this you get a lucrative APY paid in DERI.
Currently we support 2 DEXs:
  • PancakeSwap (Trading pair: BUSD/DERI) - Binance Smart Chain
  • SushiSwap (Trading pair: USDT/DERI) - Ethereum
Once you staked your liquidity on the DEX and received the predefined pledge tokens, you're ready to stake them on Deri Protocol
Step 1: Visit the official website of the Deri protocol: https://deri.finance/ Step 2: Click ‘Pools’ at upper left corner to enter the Pools section.
Step 3: Choose“ Deri Liquidity Mining” , select the specific pool you wish to add your pledge tokens to, we will take the PancakeSwap BSC Pool as an example
Step 4: Click the ”Stake”button at “Pancake-BSC” pool.
Step5: Hit the “Approve” button on the right side, to grant permission for Deri Protocol to transfer your CAKE-LP to the CAKE-LP pool. Confirm” the request at the wallet page to allow access to the specific pledge token.
Step 6: Select the percentage you’d like to add as liquidity(e.g 100% of your pledge tokens), hit the “Add Liquidity” button, then click”Confirm” once your wallet requests it.
Step 5: Once the Liquidity adding process is completed, Details regarding the added liquidity can be viewed on the pool page info.
Step 6: If you wish to remove your pledge tokens liquidity again. For help please refer to the liquidity removal steps of AMM Liquidity Mining: Remove Liquidity
Your liquidity on DEX is subject to Impermanent loss. For more details, please refer to the documentation page of the respective DEX or our Mining Mining FAQ
You should only add DEX liquidity on pairs that are predefined by Deri Protocol! Never add liquidity on empty, unsupported DEX pools!

Is DERI Liquidity Mining on SushiSwap & PancakeSwap risk-free?

No, it is not. Liquidity mining on SushiSwap or PancakeSwap are subject to the risk of impermanent loss. Any resulting permanent loss caused by removing the liquidity is in the user's responsibility. Use only the listed pools on our website to add liquidity. Adding liquidity on empty pools directly over SushiSwap or PancakeSwap can cause a huge or total loss. Any resulting permanent loss caused by removing the liquidity is in the user's responsibility
Last modified 16d ago