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How To Become an LPer on Dymension Pool using milkTIA

Introduction to Dymension

Dymension is a decentralized Delegated Proof-of-Stake (DPoS) L1 blockchain, secured by the DYM token. Custom built to provide RollApps with security, interoperability, and liquidity, Dymension is akin to an internet service provider. It serves as a decentralized router that connects RollApps to the crypto economy, facilitating the vertical integration of modular blockchains. This integration allows for network and liquidity bootstrapping to be coupled in one seamless user experience, reducing the time required to deploy a blockchain to as little as a few minutes. Read more about Dymension (opens in a new tab).

Let’s get started with the tutorial.

Bridge from Osmosis to Dymension

  1. Navigate to Portal: Visit the Dymension portal to begin bridging.
  2. Connect Your Wallet: Link the wallet containing your milkTIA tokens.
  3. Select Chains and Asset: Choose from Osmosis to Dymension and select milkTIA. Specify the amount you want to transfer.

Alternatively, you can acquire milkTIA directly on Dymension via the swap feature.

LP on Dymension

Adding liquidity only with milkTIA

  • Create Position: Navigate to the milkTIA/DYM pool page and click "Add liquidity". You have the options of "Single Asset" or "Dual Assets". Opt for "Single Asset" if you only have milkTIA. If you have both milkTIA and DYM, select "Dual Assets". For this instance, we’re proceeding with "Single Asset".

  • Input The Amount: Enter your desired amount and confirm by clicking "Add liquidity".

  • Confirm the Transaction: Sign the transaction pop up in your wallet.

  • LP Shares: Once you’ve entered the LP, you’ll receive LP shares, symbolizing your stake in the pool.

Bonding LP Shares for Maximum Yield

Milkers can maximize the yield by bonding your LP shares. The unbonding is instant, ensuring flexibility and efficiency.

  • To Bond Shares: Simply hit the "BOND SHARES" button, select the amount you wish to bond, and confirm by clicking "Bond liquidity."

You can monitor the performance and status of your bonded shares directly on the Dymension portal at this link.

Disclaimer

None of this is financial advice. Please do your own due diligence before participating in any of the mentioned protocols. This wraps up the eighth post of the Where Is The Cheese Series.

DemexLevana