This all started with the onset of Defi, which stands for Decentralized Finance, an ecosystem that allows liquidity pools to play a necessary role by following a mechanism. As revealed, through the mechanism, users are able to pool their assets in the smart contracts of DEX in order to provide asset liquidity for traders to exchange currencies. Well basically, a liquidity pool provides an allowance to crypto traders and investors a chance to acquire access to the fluctuations in the Defi markets. This ultimately facilitates the lending, borrowing, and running of other Decentralized Finance applications.
Now here comes the major question: what exactly is a pool provider? A pool provider can be considered an individual or a participant in the market who makes use of his held assets to contribute to liquidity in the market. It directly enables the underlying decentralized finance protocol to function. In a decentralized ecosystem, if the liquidity providers are funding a smart contract with the help of two or more crypto assets, it is able to provide a market for smooth trading activities for the above-mentioned crypto pair.
The Hashbon crypto exchange platform made an announcement that said the company is marking a significant upgrade and is now stretching its arms to the Hashbon FiRe ecosystem and introduced Hashbon Rocket, a CDEX. Further next, they released their native token, HASH, in the market, which brought with it a lot of benefits and rewards.
Pool Providing and Earning Rewards
If you are thinking of having an extra source of income, then you are most welcome to become a pool provider on Hashbon Rocket. Well, it’s clearly not rocket science, and in this article, we will be discussing how easy and effortless it is to become a pool provider on Hashbon Rocket. Firstly, before moving further with the article, it is necessary to address the user-friendly experience of the Hashbon Rocket as worthy of appreciation.
When we talk about pools here, we are talking about a sort of wishing-wells, in which if you keep your asset, you earn steady rewards and a passive income. It paves the way for another option to make money from cryptocurrencies, which is providing liquidity.
Talking about providing liquidity, in addition to rewarding the liquidity providers, it contributes to a particular functionality of the platform. The platform of Hashbon allows its users to become liquidity providers, which implies any HASH token holder is capable of providing pools for other users.
Though there is no denying the fact that there are already a lot of liquidity providers in the market, it is the decentralization of the process by Hashbon Rocket that distinguishes the liquidity providers on Hashbon from others. The platform reportedly incentivizes the user that put their crypto assets into pools, and contribute to liquidity. In addition to this, it should be noted that the process to become a liquidity provider on Hashbon Rocket is really simple.
Step-by-step Explanation on How to Become a Liquidity Provider on Hashbon Rocket:
Step 1 – First, you need to create a MetaMask wallet
Step 2 – Set up and add HASH Token to your MetaMask wallet
Step 3 – Visit the official website of Hashbon Rocket
Step 4 – On the official website of Hashbon Rocket, click on ‘Launch DAPP’
Step 5 – On the top right corner of the page, click on ‘Connect Wallet’
Step 6 – Following the prompt’s appearance on the top right section of your screen, click on ‘Next’
Step 7 – Click on ‘Connect’ and you are almost set
Step 8 – Following the wallet’s established connection, move to the pool section Step 9 – Click on ‘Create a new pool’
Step 10 – Set the required parameters accordingly
Once you are done with all the easy steps, you are ready to move ahead and approve your choices and just after that, your pool will be ready. When a user buys from your pool, you will get tokens in reward in your specialized wallet.
Providing liquidity on Hashbon Rocket is certainly one of the best ways to earn rewards. Start your pool providing a journey now to add another inflow stream.