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ErgoDex Just Launched: Add Liquidity

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Avatar for Cryptopeach
Written by   23
6 months ago

Hello,

ErgoDex has launched on Ergo's blockchain, now you can add liquidity to the DEX and earn exchange fees.

What pairs are available?

As of today you can add liquidity to ERG/SigUSD, ERG/SigRSV and two different memecoins called Kushti and Erdoge. Note that adding liquidity to memecoins might be a gamble and you can lose a lot of money.

You have to use Yoroi Nightly version (which is the Beta version of the wallet) to access the DEX, Yoroi still didn't add support for this in the normal version. You have to access it on desktop because Yoroi still doesn't support ERGO on the mobile app, this is coming soon.

The UI is very simple and easy to use, you will have no trouble using it if you come from other DEXs.

This is very good news for ERGO since it's the first DEX on the blockchain, this might drive adoption to another level. Other DeFi apps are already deployed like NFTs marketplace called ErgoAuctions.

One thing to know is that providing liquidity comes with the risk of impermanent loss because of price swings, so do your research on impermanent loss and see how it works.

This DEX still has some features incoming like an order book for exchanges, which is an innovative process on a DEX.

ERGO is comming to the mainstream and might be one of the most innovative blockchains out there so keep an eye on it.

ErgoDex will come to Cardano too in the next weeks, the close link between Cardano and Ergo is already known and some DeFi apps will be added to both blockchains with interoperability being implemented too between the two blockchains.

Access ErgoDex on: ergodex.io

Best Regards,

Cryptopeach

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