Liquidity - Add

How to Add Liquidity to an Existing Position

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.

Steps to Add Liquidity

1. Access Your Dashboard

First, ensure you're connected to the DApp and can view your existing liquidity positions.

1. Connect your wallet to the DApp.

2. Confirm you're on the appropriate network (e.g., Ethereum mainnet, Polygon, etc.).

3. Navigate to the Dashboard page to view your liquidity positions.

Accessing dashboard

2. Select the Position to Modify

Choose the liquidity position you want to add more assets to.

1. Review your active liquidity positions in the dashboard.

2. Click on the specific position you want to modify.

3. 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.

Selecting position to modify

3. Choose Deposit Token and Amount

Specify the token and amount you want to add to your existing position.

1. 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.

2. Enter the amount of tokens you want to add to your position.

3. Review the impact of this addition on your position, including:

   • New total liquidity amount

   • Updated estimated rewards

   • Any changes in APR or risk profile

Choosing deposit details

4. Approve the Smart Contract (if necessary)

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.

1. If an "Approve Token" button appears, click it to proceed.

2. If no approval is needed, skip to the next step.

Approving the smart contract

5. Wait for Approval Transaction

If you needed to approve the smart contract, wait for the approval transaction to be validated on the blockchain.

1. Keep your wallet open and connected.

2. Wait for the transaction to be confirmed (this may take a few minutes depending on network congestion).

Waiting for approval transaction

6. Confirm Liquidity Addition

Once approved (or if approval wasn't necessary), you can finalize adding liquidity to your position.

1. 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

2. Click the "Confirm" button to add the liquidity to your position.

Confirming liquidity addition

7. Wait for Transaction Validation

The liquidity addition transaction will now be processed on the blockchain.

1. Keep your wallet open and connected.

2. Wait for the transaction to be confirmed (this may take a few minutes depending on network congestion).

3. Do not close the browser or disconnect your wallet during this process.

Waiting for transaction validation

8. Verify Updated Position

Once the transaction is validated, your position should reflect the added liquidity.

1. Check your dashboard to see the updated position details.

2. If the changes don't appear immediately, try refreshing the page.

3. Verify that the new liquidity amount is correct and that your rewards are being calculated based on the new total.

Verifying updated position

Important Considerations

• 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.