Provide Liquidity (MDEX) + Vaults
Guide to buy $MDX and add WBNB-MDX on MDEX & LP tokens inside Autofarm Vaults
Last updated
Guide to buy $MDX and add WBNB-MDX on MDEX & LP tokens inside Autofarm Vaults
Last updated
In this HOW TO the steps will be described on how to buy $MDX on MDEX Swap Decentralised Exchange (DEX), add liquidity to MDEX and lastly deposit the MDEX tokens to the WBNB-MDEX LP Vault on Autofarm.
1) First up, head on over to the MDEX Swap Decentralised Exchange (DEX) and connect your wallet on the top of the page (make sure the selected network is Binance Smart Chain).
Use $BNB or $WBNB to swap for $MDEX tokens because that will result in the lowest slippage.
2) If it's your first time interacting with MDEX Swap, you will need to approve spending of $BNB, afterwards, you can swap accordingly.
3) After swapping, head over to Pool tab on MDEX and click on "Create a pair".
4) Select the $MDX and $WBNB tokens and key in the number of tokens you would like to supply as liquidity and click on the "Supply" button.
5) You'll receive a breakdown of the LP tokens that you are supplying along with its relevant information. Click on "Confirm Supply" once you're ready. Once you've supplied liquidity, you should see an equivalent amount of LP tokens in your wallet. Head on over here and connect your wallet to deposit them into the Autofarm vaults.
6) You should see your corresponding amount of LP tokens in the balance of the respective vault (in this case, the WBNB-MDX LP Vault). Click on the vault (down arrow) to interact with the vault.
7) Select the number of LP tokens you would like to deposit (you can also click on the MAX button to select all available tokens in your wallet) & click on the "Deposit" button. (If it's your first time interacting with that particular vault, you will need to approve the spending of your LP tokens)
8) After depositing successfully, you can see your WBNB-MDX LP tokens reflected under the Deposit section alongside details such as the USD value and the % with respect to the total value locked in the vault.
9) If at any point in time you wish to withdraw your WBNB-MDX LP tokens from the vault, simply key in the amount of LP (or use MAX button) and then click on the "Withdraw" button.
In addition to the dynamically optimised auto-compounding strategy employed in Autofarm vaults, liquidity providers also earn 0.3% of liquidity fees each time someone swaps the tokens that interacts with your LP pair.
