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Invest
Investing in Symmetric entails adding liquidity to funding pools that are used to fulfil swap orders in exchange for a share of the fees made fulfilling those swap orders.
Symmetric is a non-custodial service which means you control the transfer of liquidity directly from your wallet to the pool and back again. Therefore the first step is to connect your wallet to Symmetric.
Click on the "Connect Wallet" icon in the top right to open the dialogue where you can choose MetaMask or WalletConnect to connect your wallet.
MetaMask is a browser plugin which we will use for the remainder of this walkthrough. We will assume that you have the MetaMask plugin installed and have created an account.
WalletConnect allows you to connect your mobile wallet to the exchange.
We recommend using the Cent Mobile wallet on iOS and Android but you can use any wallet that supports the xDai network and WalletConnect standard.
If using MetaMask, you will be greeted with the MetaMask login if you don't already have the MetaMask wallet unlocked.
Unlock your wallet and you will find that you now have your wallet address displayed in the top right of the Symmetric screen.
Now that you're connected to the pool manager you should look down the list of pools, clicking on any that you would like to inspect and potentially add liquidity to.
Once you've clicked on a pool you will open the detailed pool view where you can find useful information about the pool content and configuration as well as its performance over time.
At the very top is an indication of if the pool is a shared pool, private pool or smart pool. Most pools will be shared pools which allow anyone to add liquidity and share in the fees. Private pools are closed to only allow the pool creator to add liquidity. Smart pools are more complex pools with logic and configurations that change over time. For beginners it is better to stick to standard shared pools.
At the top you are able to view the total amount of liquidity in the pool, the 24 hour trading volume, the swap fee that users would pay to liquidity providers for each swap and your pool share.
Below this are charts showing how the pool has performed over time including how the liquidity level has changed, the trade volume and the fee returns to liquidity providers. From this information and by comparing this to other pools you will be able to make an informed decision of which pools will provide the best return for your investment.
Below the charts are four tabs.
The balances tab shows the tokens that are supported by the pool, the weighting of the tokens in the pool by value and therefore the pool balance. In Symmetric, a pool can have up to 8 tokens allowing for simple token pairings or more diverse pools such as index funds. The weighting allows for pools to be made up of different amounts of value of each token. For example, a pool could be 95% USDC and 5% new token which means the new token only makes up a small amount of the pool helping to manage risk should that token be highly volatile.
The Swaps tab presents a history of swaps to date.
The Holders tab presents a list of wallets holding tokens in that pool.
The About tab shows general information about the pool including how it was configured when the pool was created.
Having chosen a pool you should click on the "Add liquidity" button at the top right of the pool screen.
Choosing to add liquidity opens a window where you provide details about the amount of liquidity to add.
Remember that pools in Symmetric are made up of multiple tokens, each with a weighting representing the amount of value for that token in the pool. Therefore to add liquidity without upsetting that weighting you should add some of each token in the pool. Filling in one value will populate the others based on the weighting configuration in the pool.
Below the token list is a CPT token amount, CPT stands for Cent Pool Token. This CPT can be thought of as a share token for the pool which you hold. The more CPT for a pool you own the more of the pool you own and therefore the larger your share of the fees earned from the pool. The CPT amount is determined by how much liquidity you add to the pool.
CPT has more diverse uses which we will not cover in detail here but include being used for allocating SYMM token rewards. CPT tokens can themselves be traded or used to create new pools allowing for complex pool and fund types to be created.
Once you are happy with your liquidity values you should check the agreement box which will then allow you to unlock each token in turn. The unlocking mechanism authorises the transfer of the token amount to the pool.
You will have to go through each token until they're unlocked and you're able to add the liquidity.
You will now see that you can add liquidity which will again open MetaMask for you to sign the final transfer.
This will take you back to the pool view where you will now be listed with the other holders and be able to see your balance in the pool.
You can take your liquidity and earnings out of the pool at any time.
To do this you click on the "Remove liquidity" button in the top right of the pool view screen.
Clicking "Remove liquidity" opens a screen where you can specify how many CPT tokens to return to the pool which in exchange returns you your share of the tokens in the pool including any fees.
Once more, clicking the Remove liquidity button opens MetaMask to authorise the transfer. Confirming this will remove your tokens from the pool.
Last modified 1yr ago