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My Experience Adding Liquidity to ThorChain Main - Two out of Three Ain't Bad...?

avatar of @revisesociology
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Zebedee
@revisesociology
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I noticed a few days ago that the returns on BEPswap, where I had some Rune pooled with various other assets had dropped significantly, whereas over on Thorchain Mainnet (Thorswap) they had gone up significantly...

Returns on BEP Binance Chain

Returns on Thorswap

ThorSwap Main is still in its testing phase, but they have Impermanent Loss Protection, which is attractive to me, and the returns were appealing, especially for AVA-Rune, so I wanted a small-in!

Unfortunately I couldn't add any liquidity on ThorSwap a few days ago as the liquidity caps of 7.5 Million Rune had already been reached, but I did get 'ready' for the opportunity to add some to the pools I wanted, thinking that there might be a rush to get in with the next caps raise.

'Getting ready' involved swapping BNB RUNE for 'Native Rune' (very easy to do) and transferring over some BUSD into my Trust Wallet, as I wanted to swap out of the USDT I'd previously had pooled on BEP.

NB ATM I'm connecting with ThorSwap only with my Trust Wallet - and it works just as it did with BEP, which for me means connecting via Wallet Connect. So I'm only interacting with the Binance Chain option ThorSwap, NOT the ERC20 Option.

Adding Liquidity following a fortunate Caps Raise

As luck would have it, the very day after I'd done all this i was informed by @mistakili of a caps raise to 10M Rune on Friday, so I jumped at the chance to add some liquidity, and lucky I did because there was only about a two hour window before it filled up!

And this of course meant chaos and congestion, and failed transactions, and 'fake failed' transactions - when the pop up box tells you a tx has failed but actually it's gone through just fine!

Anyway, when the dust had settled I'd managed to add to two pools successfully:

  • Rune - AVA - which is the one I really wanted!
  • Rune - BUSD - which is fine - I regard all of this as 'stables' - the Rune half is 'stables in waiting' - happy to cash that out any time I need it!

But my attempt to add to the BNB pool failed - for some reason the BNB part added but the Rune part didn't, even though I agreed it the same way as with BNB via Trust Wallet...

And then I couldn't withdraw' that BNB either...

Anyways, a day after, following a boozy lunch earlier today, I noticed a drop in the caps, so I was FINALLY able to add the Rune part to my BNB pool, so i'm now in on three pools.

Still, the whole experience wasn't great and prompted me to sell 10% of my Rune holdings for something else!

Posted Using LeoFinance Beta

Thorswap - find out more....

@mistakili has been into Rune for 60 days already, read about his returns in this post