full image - Repost: How to swap tokens and provide/remove liquidty on Cetus (Aptos Mainnet) (from Reddit.com, How to swap tokens and provide/remove liquidty on Cetus (Aptos Mainnet))
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In this tutorial, I am going to explain to you step-by-step how to swap tokens (1) and how to add and remove liquidity (2) on the dApp of Celus Protocol.First, make sure you have a Sui wallet installed.You can download Sui wallet or Suiet here: (added as a Chrome browser extension)https://ift.tt/6KQ4n0o adding the wallet, go through the wallet creation process until you are set.0. Faucet tokens:You can claim faucet tokens directly on https://app.cetus.zone. Click "request coins" as seen in the picture below:Cetus Sui Test-Token Claiming ButtonAlternatively, you can claim SUI testnet tokens here: https://ift.tt/yv6kfcl your testnet tokens have arrived, you're all set.1. Cetus Swaps:Select token pairs on both sides. Make sure that you use a token that you own, otherwise you won't be able to swap.Enter the amount you want to swap for another token.Click SwapClick Confirm Swap (if the price updated, click accept first)Sui wallet should open now, approve the transaction.You can view the transaction in the explorer (make sure to select testnet)2. Liquidity Pools:Now that you have 2 different tokens (or more from the faucet), you can click on the pools tab and select your desired pool by clicking the "add" button.Select the amount of both tokens, that you want to add to the pool.Click confirm supply.Approve the transaction in your wallet.Once the transaction is approved, you are able to click the remove button instead of the add button in the pools tab of Celus and remove your position, by repeating the process.Liquidity pools are the core feature of so called AMM Dex providers. AMM stands for automated market maker, a term used to describe their characteristic, of running liquidity pools where traders are self-serving their orders, instead of using Order Book systems like most centralized exchanges (CEX). A liquidity pool is a pool of 2 assets bundled together, usually expressed with a formula like x*y=X*Y. For the average joe, this means, that if there are 100 ETH and 10 BTC inside of a pool, traders are able to trade ETH with the pool, by providing BTC, wheras 100*10 always needs to equal the sum of 100*10, except if you provide 2 tokens to the pool as a liquidity provider (LP provider), then you raise the ratio to 101 ETH per 10,1 BTC. In other words, withdraw 1 ETH from the pool, by providing 10,101010101010-10 BTC to the pool. This sounds weird, but 100*10=1000 and 1000/99 (1 ETH withdrawn) would equal 10,101010101010. This effect is called slippage. Interacting with low liquidity pools means raising the slippage in the settings. This slippage can also cause arbitrage between different decentralized exchanges and their pools, and if you take bridges into account, across ecosystems and blockchains. This is still a big problem regarding cross-defi arbitrage attacks.I hope you found my guide helpful. If you have questions or wanna thank me, follow me on twitter:https://www.twitter.com/blockstyle_ethDiscord: jpgcollector#1111
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