Liquidity mining on OpenOcean refers to the act of providing liquidity by users (Liquidity Providers) supplying token pairs to pools, in return staking LP can earn a reward of OOE token.
How to add liquidity?
1. Go to openocean.finance and click โFarm & Vaultโ under "Products" dropdown list.
2. Choose the Farm Pool that you desire to supply liquidity, connect your wallet, then click โAdd OOE-XXX LPโ to supply.
3. Enter the desired amount you wish to supply and "Approve" both tokens (e.g. OOE & WBNB), then click "Supply", and "Confirm Supply".
Note: the token pair must be of equal value according to the token pair ratio in the pool. Once you enter an amount of one of the tokens, the system will automatically calculate the corrosponding amount of the other one. Make sure you have sufficiant amounts in your wallet for the token pair.
4. After confirming the transaction fee in your wallet, it will show the transaction has been submitted. You have successfully added liquidity.
5. After adding liquidity, you will see your LP token balance at the bottom.
How to stake LP Token to earn OOE?
1.
Click the โFarmsโ on the top, and select the staking LP Token.
2. Choose the right Farm, then click โDepositโ to stake LP Token and enter the amount of LP Tokens you would like to farm, then click "Confirm". Then make sure confirm the transaction fee on your wallet. The example below will use โOOE-BNBโ.
3. Once confirming the transaction fee on the wallet, you will see your new staked LP Tokens and your OOE rewards over time.
How to claim earned OOE to wallet?
You can click โHarvestโ to collect your OOE rewards. Click the Harvest button and confirm the fee in your wallet. After a short wait, you will see the OOE claimed to your wallet.
How to remove LP Tokens from Farming?
The โWithdrawโ button is to remove staked LP Tokens. Your rewards and the LP tokens will return to your wallet automatically.
Then confirm the gas fee to withdraw in your wallet.
How to remove LP from Liquidity Pool?
1.
Visit "Pools" and click the drop-down icon in โYour Liquidityโ.
2. Review the detail of your liquidity and click โRemoveโ.
3. Choose the amount you would like to remove, and click โApproveโ then โRemove".
4. Make sure to check the amount of tokens you will receive, and click โConfirmโ on the page and in your connected wallet.