Liquidity - Add
Last updated
Last updated
This guide will walk you through the process of increasing the amount of assets held in your existing liquidity position. By adding more liquidity, you can potentially increase your rewards and strengthen your position in the cover pools.
First, ensure you're connected to the DApp and can view your existing liquidity positions.
Connect your wallet to the DApp.
Confirm you're on the appropriate network (e.g., Ethereum mainnet, Polygon, etc.).
Navigate to the Dashboard page to view your liquidity positions.
Choose the liquidity position you want to add more assets to.
Review your active liquidity positions in the dashboard.
Click on the specific position you want to modify.
Locate and select the "Add Liquidity" button associated with that position.
If your position has been committed for withdrawal, the "Add Liquidity" action will not be available. You'll need to wait for the withdrawal process to complete or cancel it before adding more liquidity.
Specify the token and amount you want to add to your existing position.
If the pool allows it, choose between depositing the underlying asset or the strategy LP token.
Underlying tokens are automatically converted to strategy LP tokens during deposit.
Enter the amount of tokens you want to add to your position.
Review the impact of this addition on your position, including:
New total liquidity amount
Updated estimated rewards
Any changes in APR or risk profile
You may need to approve the Athena smart contract to interact with your funds, especially if you're using a new token or have increased your allowance.
If an "Approve Token" button appears, click it to proceed.
If no approval is needed, skip to the next step.
If you needed to approve the smart contract, wait for the approval transaction to be validated on the blockchain.
Keep your wallet open and connected.
Wait for the transaction to be confirmed (this may take a few minutes depending on network congestion).
Once approved (or if approval wasn't necessary), you can finalize adding liquidity to your position.
Review all details of your liquidity addition one last time, including:
Amount being added
Any fees associated with the transaction
Expected impact on your position
Click the "Confirm" button to add the liquidity to your position.
The liquidity addition transaction will now be processed on the blockchain.
Keep your wallet open and connected.
Wait for the transaction to be confirmed (this may take a few minutes depending on network congestion).
Do not close the browser or disconnect your wallet during this process.
Once the transaction is validated, your position should reflect the added liquidity.
Check your dashboard to see the updated position details.
If the changes don't appear immediately, try refreshing the page.
Verify that the new liquidity amount is correct and that your rewards are being calculated based on the new total.
Providing liquidity comes with risks, including potential losses in cover pools you provide liquidity to.
Your actual returns may vary from estimated APRs due to market conditions and pool performance.
Monitor your position regularly and adjust as needed based on your investment strategy and risk tolerance.
Be aware of the commit period before withdrawal can be made.
By following these steps, you've successfully added liquidity to your existing position. Remember to regularly review your positions and adjust your strategy as needed based on market conditions and your financial objectives.
