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Tapping into Osmosis dex $AKT/$ATOM pool

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Take a look of @jk6276 's posts on Osmosis dex if you are unfamiliar with all these Cosmos family matters... this is the latest one:

Osmosis - an early look at APR's

I was too busy at work to follow Osmosis' launch and missed the initial funs. But I was teased by @jk6276 and finally can find some time during weekend to try it out from almost zero understanding.

They say the best way to understand #defi (or almost everything) is to try it out yourself. Given that I don't need to face the high (from incredibly high to a little high) Ethereum tx costs, I can literally try this Cosmos defi with really low costs.

So visit their website interface and find out those high APR pools... I am not familiar with most assets there except $AKASH which I have accumulated some and $ATOM which I know but have not invested much yet.

So I pick Pool #4 $AKT/$ATOM to start with and manage to finally deposit some $AKT and $ATOM via IBC (basically Cosmos bridge to other chains) into Osmosis. You will need the Cosmos wallet Keplr first of course.

Some trial amounts I've got.

Money at hand, go to the Pool! WOW! Already 11 Millions locked in.

Add my Liquidity. Don't know why it's not 50/50 but 66/34. But I am sure @jk6276 mentioned it somewhere. XD...

I was troubled by the fact that I need some $OSMO but cannot even swap my other assets into it since I need some $OSMO beforehand... See? it's a cycle that you cannot break!

thanks to @jk6276, he told me there is a Low fee setting which is $0!! That's new to me! I guess it's only a temporary setting for building up the ecosystem...

So I can finally process it!

$30 worth of LP shows up! wait... there are some options available under it... So I click Start Earning.

Three options: 1-day, 7-days and 14-days. I went for the longest option and the highest APR.

Bond it!!

So the dashboard reveals it after my selection.

Now I am waiting to 'havest' some $OSMO after some time... and take my time to study further and maybe buy more $ATOM to match my growing $AKT and LP more....

Sounds good.

Posted Using LeoFinance Beta