Single-Sided LPing

Video Tutorial:

Step by Step: Single Sided Deposits

1. Connect your wallet

• Go to the pool page: https://sparkdex.ai/pool

• Click “Connect Wallet” and select your wallet.

2. Choose the deposit type: Single Deposit

• On the pool page you’ll see options: Dual Deposit and Single Deposit.

• Select Single Deposit.

3. Select the token you will deposit

• Pick the token you wish to deposit (for example USDT).

• The Strategy will be auto-selected as 'Automatic' as there is no manual strategy for single sided deposits.

• Select the Vault you want to provide liquidity to - Keep in mind if there is only one vault available, it will auto-select that one for you, as there are no other vault options available.

• Enter the amount you want to deposit.

• The interface will show the estimated APR% and rewards.

• As you can see in the above example, the vault is managed by ICHI. The Vaults on SparkDEX are either managed by Steer Protocol or ICHI, both of the ALM (Automated Liquidity Management) Protocols SparkDEX has integrated with.

4. Approve the token

• If this is your first time transacting with a token on SparkDEX, you will need to hit “Approve” in your wallet to allow interaction with this token.

• Wait for the transaction to confirm on-chain.

5. Deposit the token

• Once approved, click on “Confirm”.

• Confirm in your wallet.

• Wait for the transaction to complete.

6. Receive LP representation / track your deposit

• After the deposit, your position will be reflected under 'Your Pools' on the right side of the UI.

7. Monitor & manage your position

• You can now monitor your position and view your pool share percentage.

• Note that you can always add or withdraw your liquidity easily by clicking on 'Manage' next to your position and by selecting 'Add' / 'Withdraw' to modify the liquidity added.

Why deposit liquidity Single-Sided (Using a single Token)?

• You only need to deposit just one token.

• You receive a “Vault Token” representing your share of the liquidity pool.

• You avoid 'forced' swaps that might dilute your position in volatile markets.

• For more information regarding single-sided LPing visit https://docs.ichi.org/home/yieldiq-strategy

ALMs on SparkDEX:

• ICHI: SparkDEX integrated ICHI’s cutting-edge liquidity management technology to offer ALM pools on its V3 DEX, streamlining reward distribution and making LP functions more efficient for SparkDEX users. ICHI’s automated liquidity strategies optimise yield earnings from DeFi farms while reducing risk.

• Steer Protocol: SparkDEX also integrated Steer’s technology to optimise composability for ALM pools on its V3 DEX.