This tutorial will guide you through the process of adding liquidity to the WBTC/USDC pool on Persistence DEX on Babylon Genesis Network.
The guide is split into three parts:
- How do you bridge WBTC from Ethereum to Babylon Genesis
- How do you bridge USDC from Noble to Babylon Genesis
- How do you add LP into the WBTC/USDC pool on Persistence DEX
Before you get started, make sure you have enough Wrapped Bitcoin (WBTC) on Ethereum and some ETH to cover gas fees for the steps in this guide.
Also, make sure you have a sufficient USDC balance on Noble to bridge to Babylon Genesis and add liquidity or trade in the pool.
How to bridge WBTC from Ethereum to Babylon Genesis
To keep things as seamless and fluid as possible, you can now start the bridging process directly from Persistence DEX.
Just head over to the DEX at https://app.persistence.one to begin.
- Navigate to the ‘Assets’ tab using the top right-hand menu bar.
- Scroll down till you see Wrapped Bitcoin, and click on the ‘Deposit’ button beside the same.
- Make sure the source chain is set to ‘Ethereum’, then follow the prompts to connect your MetaMask wallet and complete the transaction.
The bridging transaction might take a little time to complete, so hang tight until it goes through.
If you run into any issues, feel free to reach out in our Telegram Community Chat or Discord. We’re here to help.
How to bridge USDC from Noble to Babylon Genesis
To bridge your USDC from Noble or any other chain, follow the same steps as above.
Head over to the ‘Assets’ tab on Persistence DEX.
- Scroll until you see USDC, and click on the ‘Deposit’ button beside the same.
- Ensure that the Source Chain and Destination Chain are selected correctly. After entering the amount, initiate the bridging transaction.
It may take up to a minute to complete. Please wait a moment. If you encounter any issues, feel free to reach out in our Telegram Community Chat or Discord. We’re here to help.
How to add liquidity in the WBTC/USDC pool on Babylon Genesis
After bridging both assets successfully to Babylon Genesis, you are all set to add liquidity to the WBTC/USDC pool.
Navigate to the ‘Pools’ tab to get started as below:
- Look for the WBTC/USDC pool in the list of available pools on the page.
- Click on the pool, then select the ‘Add Liquidity’ button from the menu on the right.
- Enter the amount of the asset you want to add to the pool. The corresponding amount of the pair will be filled in automatically.
- To be eligible for additional pool incentives, make sure to bond your LP tokens. Just check the box next to the option to enable bonding.
- Once you’ve confirmed all the details are correct, click the ‘Add Liquidity’ button to initiate the transaction.
- After the transaction is complete, you’ll be able to see your added liquidity on the pool page, as shown below.
That’s it. You have now successfully added liquidity to the WBTC/USDC pool on Persistence DEX.
To remove your bonded liquidity, click the ‘Unbond’ button next to your liquidity position and wait for 7 days. Alternatively, you can choose to unbond instantly by paying a 5% instant unbonding fee.
Trade/Swap between assets
You can now also swap between the assets on the Babylon Genesis Network using the Swap feature on Persistence DEX.
To do so, simply navigate to the homepage by clicking on the ‘Swap’ option in the top menu bar.
Enter the amount of the asset you want to swap and choose the asset you’d like to swap it for.
Make sure your wallet is connected to the DEX, then initiate the transaction.
That’s it! You’ve successfully swapped assets on Persistence DEX on Babylon Genesis.
About Persistence One
Persistence One is building the BTCFi Liquidity Hub, enabling fast, near-zero-slippage swaps for BTC, BTC-variants, and LSTs on Persistence DEX.
BTCFi’s rapid growth has created multiple BTC-related assets, making fragmentation a big challenge. Persistence One will provide a single liquidity hub, simplifying value transfer across the Bitcoin ecosystem.
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