How to Use Liquidity Pool On game.defikindoms.com On Metamask Mobile
Disclosure on LP Tokens
In this Guide I will show you have to create a liquidity pool pair know as an LP Token. This Token is created by unifying two separate assets into a pair. This is used for Yield farming in the crypto currency space. It comes with its own risk and I recommend for you to do your own research on the subject before proceeding with this guide. Most known form of risk is call Impermanent Loss. Here is an article you can read from this subject “Understanding Impermanent Loss”.
Intro to Defikindoms
Defikingdoms is a unique game that is still in the beginning stages of development. They will be releasing hero card NFTs to collect. They also have a Dex that is live. We will use it to obtain their native token $JEWEL. They offer multiple liquidity pools for users to choose from and we will use $JEWEL x $ONE today. You can read more about them here Link.
Creating A Character
I love the idea of creating your own character in Defikingdoms. This is the very first step you will take on your journey. We need to take a few steps first before we proceed. Launch Metamask App on your phone and make sure you are using the Harmony Mainnet Network. Example below.
Once you are on Harmony Mainnet you will need to add some $ONE tokens to your wallet. I recommend at least about 10 $ONE tokens to create your profile. Note: You will need a lot more if you plan to participate in the liquidity pool. After that is done you can press on the left side “Menu” button and select “Browser”. You will need to add this URL for Defikingdoms PLEASE MAKE SURE IT IS CORRECT! I do not want you to go to a fake site! “https://game.defikingdoms.com/#/”.
Once you are there you need to connect your wallet via Metamask to start the game. In most cases at this stage you will see the character creation menu after you press the “Play” button.
As you can see, you have a few options of which character you can choose for your profile. Once make your choice you can confirm it with the button below “Complete Profile”. Complete the transactions and congratulations you have an account!
Using A Dex
Our next step is to use the Dex available on Defikingdoms to trade for some $JEWEL tokens. To do this we have to go to the “Marketplace” on the map.
Inside the Marketplace select the “Trader” on the left to bring up the Dex Menu. Your Harmony balance should reflect on the top. Press on “Select” and search for $JEWEL and it will show up at the bottom to establish the trade. You will use the amount of $ONE tokens you wish to trade for some $JEWEL tokens. Select “Swap” and you will be asked to confirm the swap. After you do you will need to “Approve” it to finalize the transaction. After 2 seconds you will receive your $JEWEL tokens. Shoutout to Harmony Devs! We are back at 2 second Finality!
Your $JEWEL will reflect on your balance once it’s done.
Creating LP Token
From here we will create a Liquidity Token using the “Create Pair” section of DefiKingdom. To get there we have to visit the “Gardens”.
Once we are at the “Gardens” we will visit “Druid” for the option to create the LP Token.
Note: Make sure you create a pair that has a pool available on Defikingdoms. These pools are the only LP tokens you can deposit too. Here is the list.
- JEWEL — XYA
- JEWEL — 1WBTC
- JEWEL — 1ETH
- JEWEL — BUSD
- JEWEL — UST
- JEWEL — bscBNB
- JEWEL — ONE
- ONE — 1USDC
- ONE — 1ETH
- ONE — BUSD
Press on “Create Pair” to Add Liquidiy for the LP Token. We will be using $ONE and $JEWEL. Add the amount you want to use for both and “Approve Jewel” contract. Once it is Approved you will need to confirm it and complete the LP Token transaction.
After the LP Token is created you can also add it to your Metamask token list if you want to.
You will see the amount of LP Token you were able to create.
Adding LP Token To The Liquidity Pool
From this stage we will supply the liquidity pool with the LP tokens we created to start yield farming! Go back to the Druid’s menu and scroll down to find the $JEWEL X $ONE pool and select “Deposit”.
Here you do get some information such as “Block Rate” from the pool. As of today the rate is at 80 JEWELS per block. Here you will need to follow through with each transaction and it will have to be done in a timely manner. Review all 3 screens shots so you have an idea of what you will expect. Metamask will also ask you to confirm transaction as it goes. Press on “Deposit JEWEL-LP Tokens” to start the process. After that you will add the Amount of LP Tokens you wish to add and then “Approve” the deposit. Once it is approved you will confirm the “Deposit” as shown below.
After the transaction is finalized you will see the amount you deposited and how much rewards you are accumulating.
Congratulations you are now officially Yield Farming on Defikingdoms! You can claim your rewards anytime! I hope this guide was able to help you! If you have any questions please reach out to me on Twitter at @OniiiONE. I run BrotherONE Validator on the Harmony Network. If you would like to delegate your $ONE tokens with me you can do so here Harmony Staking Dashboard