Get Started as a Liquidity Provider
Become a liquidity provider to earn up to 30% APY in USDT, USDC or DAI
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:
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.
Fiorin supports USDC, USDT and DAI ERC20 stablecoins from Ethereum. Once you select your desired stablecoin in Fiorin, it cannot be changed!
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.
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.
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.
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