Get Started as a Liquidity Provider

Become a liquidity provider to earn up to 30% APY in USDT, USDC or DAI
If you also want to trade on DXS, learn how to get started here

What does it mean to 'provide liquidity'?

Typically, CFD brokerages (like DXS) outsource their market-making function to liquidity cartels, established exchanges or financial institutions.
DXS is unique in that it outsources the liquidity function to an unbiased autonomous not-for-profit entity: The Open Liquidity Protocol (OLP). The OLP is covered in deeper technical detail in the below link:
The OLP is funded by the public. Becoming an OLP liquidity provider is a first-ever opportunity for retail investors to generate yield from trading losses. No longer is this opportunity exclusively accessible to backbone market participants:

How do I provide liquidity?

  1. 1.
    Get a Fiorin wallet
  2. 2.
    Deposit USDC, USDT or DAI into your Fiorin wallet
  3. 3.
    Contribute liquidity on DXS

Go to Fiorin.app and sign up

Save and confirm your seed phrase

Make sure you store a copy of your seed phrase somewhere safe! Your seed phrase is the only way to recover your Fiorin wallet! Additionally, you will need your seed phrase every time you sign into Fiorin with a new browser.

Select your stablecoin

Fiorin supports USDC, USDT and DAI ERC20 stablecoins from Ethereum. Once you select your desired stablecoin in Fiorin, it cannot be changed!

Accept AML banner

Enter your stablecoin withdrawal address

Fiorin has a built-in bridge smart contract, allowing deposits of USDT, USDC and DAI ERC20 stablecoins from Ethereum. As part of Fiorin’s security procedures, ERC20 stablecoin deposits cannot be made until you specify an Ethereum withdrawal address. Once specified, the withdrawal address cannot be changed.
Notice the banner communicating that 200% of any gas fees paid on deposits and/or withdrawals are credited to the your Bounty Trading account on DXS!

Copy your stablecoin deposit address

Once a withdrawal address has been specified, clicking on RECEIVE will show your USD-ERC20 deposit address. Click copy or SHARE to copy the deposit address to your clipboard.

Send stablecoins to your deposit address

The below example demonstrates a $54.50 USDT transfer from Binance to Fiorin. You simply need to paste in your deposit address, select the Ethereum (ERC20) network and specify the amount to transfer.

Your first deposit!

Ethereum deposits will show in your Fiorin wallet after 5 minutes. Your first deposit will be expensive because Fiorin’s bridge smart contract consumes significant gas when processing a first-time user. Subsequent deposits require 4.3x less gas.
The below example shows the initial $54.50 USDT transfer from Binance less $4.50 in Binance gas fees, less $11.38 in Fiorin smart contract gas fees. A total of $15.88 of gas fees paid in total.
Do not despair! Gas fees are not wasted. 200% of any gas fees paid (on deposits AND withdrawals) are credited to your Bounty Trading account on DXS! In this case, the Bounty Trading credit is $15.88 * 2 = $31.76
Clicking on the deposit line in the above gif opens the receipt of the transaction in a third-party block explorer service. The deposit amount of $38.62 USDT can be verified on the blockchain.

Connect to DXS.app

You are prompted to connect your Fiorin wallet when you first visit DXS.app:

Accept DXS terms

Provide liquidity

On the account screen of DXS, click 'Provide Liquidity', enter your desired contribution amount, accept the Liquidity Provider Agreement and click 'Send':