Are all cryptocurrencies with very low volume shitcoins? 🤔
We don't believe so…
Definition of Shitcoin:
Marketcap and volume does NOT mean everything in crypto.
There are even a few shitcoins that are ranked in the top 100.
It can sometimes be difficult to determine the real value of an altcoin because its price is independent of the company’s sales or revenue.
A cryptocurrency needs practical use and a working platform for us to acknowledge its existence. However, some projects may have a product but still be severely undervalued.
One example of this is the cryptocurrency Pareto Network.
We've already made about 21,000 PARETO in the past month posting information on their platform. This would have been worth $1,260 during its Initial Coin Offering (ICO) on January 2018.
So yes… it has a working platform.
What is Pareto Network?
Great platform but unfortunately there's no liquidity.
How can we fix that?
If I told you that there was a way to reward the community for providing liquidity without the need for KYC, would you believe me?
This is possible with Uniswap.
Uniswap is an Ethereum-based protocol that is designed to facilitate automatic digital asset exchanges between ETH and ERC20 tokens.
This is an exchange for buying cryptocurencies without the need for KYC or an orderbook. You NEVER have to wait for your order to fill.
Our dilemma: Some cryptocurrency projects have working products but no liquidity for their cryptocurrency.
Solution: The community will provide liquidity.
We don't NEED to wait for a listing from a top centralized exchange like Binance.
Power to the people 💪
Let's take action!
We want to show you how to get paid for providing liquidity to all of your favorite cryptocurrency projects running on the Ethereum network.
First we need you to download the trust wallet on your mobile phone. It's available for both android and IOS.
(update: if you are an IOS user. Trust Wallet’s dApp browser has been removed please download the Coinbase Wallet instead)
Create an Ethereum wallet on the app.
Click on wallet at the bottom to view your Ethereum balance.
If you don’t have any Ethereum, fund your wallet by sending ETH to your address. You can buy some Ethereum on Coinbase.
Now let's go to Uniswap!
We recommend that you use the Trust wallet browser for the exchange.
Uniswap is a blockchain application and the trust wallet is one of the best and easiest places to access it.
Go to the browser tab
Type in “uniswap.exchange”
You're given three options: swap, send or pool. Select the pool option.
Leave it on add liquidity
Uniswap charges 0.3 % for transactions made on its exchange and shares it with its liquidity providers
We love Pareto Network and want to provide it with liquidity and ofcourse...
Get paid 😉
There is a deposit and a deposit(estimated).
We prefer you to use ETH (Ethereum) for this example since it was the cryptocurrency that we had you deposit in the beginning.
We now have our first deposit as ETH and need to find PARETO as our second deposit.
Click on select a token
If you can't find PARETO then copy and paste this contract address:
0xea5f88E54d982Cbb0c441cde4E79bC305e5b43Bc
Wait…PARETO should show up after a few seconds.
If you want to provide liquidity to another cryptocurrency in your wallet you can do so… 👆
To provide liquidity we must deposit the desired Ethereum value for PARETO along with the PARETO value for Ethereum.
For example: If we choose to deposit about 3552 PARETO into the pool, we will have to deposit 3552 of our own PARETO and it's Ethereum equivalent of 0.015 ETH to back it up. Eventually, you end up depositing both 0.015 ETH and 3552 PARETO.
Select Add liquidity
Then send to confirm transaction.
You will now be redirected to the same page you deposited both of your Ethereum and PARETO.
If you scroll down for the details you'll see Your pool share and current pool size. Current pool size shows how many PARETO are available on Uniswap's liquidity pool. There are about 82,475 PARETO worth 0.3315 ETH.
This means only up to 82,475 can be purchased at the moment. This amount will increase the more people provide liquidity for PARETO on Uniswap.
Your pool share shows that we have 4.52 % of the PARETO in the pool.
We will be getting 4.52 % of the Uniswap fees from PARETO transactions.
How do I remove some of my PARETO from liquidity and get my Ethereum back?
Click on Add liquidity at the top in blue.
You'll now see three options:
Add liquidity, remove liquidity, and create exchange.
Select remove liquidity
Go to select a token
Look for PARETO. If you can't find it, copy and paste the same contract addess: 0xea5f88E54d982Cbb0c441cde4E79bC305e5b43Bc
The 0.0284 that you see is only a representation of the amount of PARETO in liquidity.
This is represented as a Uniswap token. Currently, 131,239 PARETO is equivalent to about 1 Uniswap token. Our 3,731 PARETO is only represented as 0.0284 out of one whole token.
Now, we want to return half of our Ethereum and PARETO back into our wallet because we decided not to use as many PARETO to provide liquidity. So half of 0.0284 would be 0.0142.
We will be getting 0.0074 Ethereum and about 1863 PARETO out of the liquidity.
Select remove liquidity
Then select send to confirm transaction.
Isn't that amazing! You can take your money out anytime 😊
Our pool share is now 2.317 %.
Half of what we were making before because we removed half of our PARETO from liquidity.
Remember:
Uniswap charges a fee of 0.3 % for every transaction then pays it to their liquidity providers.
We will be getting 2.317 % of the total fees payed out from PARETO transactions.
Provide liquidity to your favorite cryptocurrencies running on the Ethereum network by lending it out to the community.
And get paid doing so.
THIS is the power of community
Bitcode Partner:
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