Intro: HooSwap is an automated market maker (AMM) based trading desk built on a centralized platform. It will be launched recently with the following contents:
1. Behind the trading logic of HooSwap, as the liquidity provider (Maker) of HooSwap, what rights and interests are available to you;
2. How to participate as a liquidity provider (Maker) of HooSwap in three situations.
There are three roles in HooSwap's automated market maker (AMM): Trader(user), the liquidity provider(maker), and the platform operator (HooSwap).
Handling fees are a significant income for the trading platform, and in HooSwap, the platform cedes the rights to the fees generated by trading to the liquidity provider. When a trade is executed, Trader will pay fees for the transaction, and HooSwap does not receive any fees for the whole phase of the transaction, but all fees is given to the Maker in the trading pool.
Therefore, you can choose to become a Maker in HooSwap as a liquidity provider and earn fees as a stable source of income.
Becoming a HooSwap liquidity provider (Maker) will have the following three scenarios
- Market can be made directly when there are liquid pools you need in the list.
- When there is no liquidity pool of the list that you want to participate in, you can create a market in Hooswap (Click "Creation" to add).
- When there is no liquidity pool of the list, and also no liquidity pool of the HooSwap "Creation" list, please fill in the "HooSwap Listing Application" form, we will add the token in the "Creation" within 12 hours.
Here is the detailed tutorial:
Click on “Pool” to add
Ⅱ. Click on "Add Liquidity"
- Take USDT/SUSHI liquidity for example, search for the token name or smart contract address of the token to swap.
- Select the USDT in the liquidity pool and enter the USDT amount
- Select the SUSHI and enter the SUSHI amount.
The display will show the amount and percentage of the selected token, click on Add and enter the trading password.
III. To create a market when the list does not add the liquidity pool you need.
Click on “Creation” and select the trading pair you need (Take BTC/SUSHI liquidity pool as an example)
- Select the BTC in the liquidity pool and enter the amount of BTC.
- Select the SUSHI and enter the SUSHI amount.
- Click on "Add" and enter your trading password
IV. If the token you intend to add is not found in the list of created markets, you may list your token by submit the form.
Risk Alert: Any digital assets investment is risky. Please evaluate your risk tolerance before getting involved. Your support on Hoo is highly appreciated.
Hoo Team
September 15, 2020
