The Tutorial of Equalizer.fi
This article will show you how to use Equalizer.fi for token exchange and provide liquidity mining to get EQL.
Note that the screenshot below is the test screen. The actual page, trading pair, and exchange ratio are subject to the final online version.
This article includes the following tutorials:
- Token swap
- Liquidity mining
- Functions of the Farm page
- Burning EQL to increase the weight of liquidity mining pool of each trading pairs
1. Token Swap
Download the Metamask Chrome plug-in and import the wallet.
Visit the page: Equalizer.fi
Click on the top right corner of the page, connect to Metamask, enter the password, and the ETH balance and address of the wallet will be displayed after all the steps.
In the SWAP page, please select the two tokens you want to trade. The system will automatically calculate the price according to the current exchange rate. Once you confirm the price, click the red “SWAP” button below. Confirm the transaction in Metamask to complete the swap.
2. Liquidity Mining
Please click “Add Liquidity” under the “POOL” tab.
At this page, choose the pair of tokens that you want to add liquidity. The trading pairs can be added freely. You can check the existing trading pairs on the “Farm” page.
Enter the amount of one token (e.g. QKC), and the system will automatically calculate the amount of the other token that needs to be staked. If you click the “MAX” button, it means you want to put all your tokens to the liquidity pool to participate in liquidity mining.
Click Approve QKC in the page will pop up the authorization confirmation page, and click “Next” to get authorization (each token needs to be authorized separately before operation). It will show “Pending” in the upper right corner of the page, which means the process is pending. The page will updated when it is finished.
Furthermore, on the page of “Select a token”, you can add trading pairs by searching or adding the token smart contract by yourself.
Upon completion, click “Supply” to add liquidity, and earn gas fee rewards. The system will put LP token into your wallet. Users can stake LP in Farm for liquidity mining to earn EQL rewards.
Or, you can click the “Supply & Stake” button below to add liquidity. LP tokens will be directly staked to the trading pool and you can get EQL tokens based on the ratio.
3. Functions of the Farm Page
Except for the trading function, all the other asset management functions are concentrated on the Farm page.
You can see your earned EQL, “Pending harvest” means the EQL earned but not yet gained from the reward pool. Also, you can find the total EQL supply, the reward per block, and the estimated time left. The bottom shows you the trading pairs that are currently participating in liquidity mining.
There are two sections below: one is “My Pools”, which displays all the trading pairs a user has staked or provided liquidity. The other one is “Top Pools”, sorted by the weights.
* You can observe the “WEIGHT” column to judge if the trading pair successfully participated in the liquidity mining in this round. If there is a number, it indicates a success.
The Different pools correspond to different trading pairs, and WEIGHT is the proportion of existing trading pair in the total trading volume, which determines the ratio of rewards to be distributed in this round. The last column is the expected ratio of return.The trading pairs not shown on the page can be found by searching the trading pair address in the search box.
The address of the trading pairs can be found at the bottom of the “SWAP” page.
Click the trading pool you want to manage to enter the detailed management page.
Click “Claim” to withdraw the earned EQL.
Note that there’s no additional rewards if you don’t withdraw EQL. So please consider if you want to withdraw once or several times under a reasonable gas fee.
On the right is the LP staking part, where users can stake LP to share the rewards of the liquidity mining. Click “Stake” to stake LP tokens, and “Unstake” to withdraw them.
To continue to provide liquidity, please click “Add Liquidity on Equalizer” at the bottom of the page.
4. Burning EQL to Increase the Weight of Liquidity Mining Pool of Each Trading Pairs
The new weight is related to the amount of EQL buyback and burn by each trading pair. The greater the number of EQL buyback and burned, the higher the weight of the trading pair on EQL liquidity mining pool, i.e., the more active the trading pair is, the more rewards it can get, forming a positive feedback mechanism. In addition, users can also burn EQL directly to increase the weight of a specific trading pair on the liquidity mining pool, so that the specific trading pair can have the chance to gain more EQL in the next round.
Please click “Increase” on the trading pair management page.
Enter the amount of EQL you want to burn, and once the transaction is confirmed, the EQL will be burnt permanently. Meanwhile, the weight of the trading pair will increase. In the page “Estimate Weight in the Next Round”, you can see the prediction of the weight changes of the pool after 6 hours. This number is just a prediction, since other users may also burn EQL.
(1) Keep sufficient ETH in your wallet because all operations are on the chain.
(2) Before the trading or staking of each token, it is required to “Approve”, so that the smart contract can invoke the token in the wallet. If not authorized, the transaction cannot be proceeded or the transaction fails.
(3) If the ETH is sufficient but the transaction still fails, it is usually due to a change in the trading price. In this case, the most effective way is to refresh the page to get the latest trading price.If you want to increase the probability of success, you can click the little gear(setting) button in the upper right corner, to increase the slippage tolerance, or to extend the transaction deadline. It will increase the loss caused by the slippage, but it will also increase the success of trading. Please use as appropriate.