Ref Finance StableSwap User Guide
Ref Finance is delighted to announce Sauce, StableSwap feature — which allows users to swap one stable for another quickly with minimal slippage and low transaction fee — is officially LIVE!
The DeFi ecosystem on Near is gradually being formed and since then the needs of users have also been increased. Previously, if users wanted to swap from one stable to another, they might incur slippage fees due to lack of liquidity.
This has changed. As a pioneer DeFi project on Near, we are aware of the above issue and decided StableSwap to be the next key feature of Ref Finance, promising to significantly improve the user experience.
A brief explanation of how StableSwap works can be found here.
How to perform StableSwap
Access Ref Finance with your NEAR wallet.
StableSwap will be a separate feature from regular Swap. Therefore, before swapping from one stable to another, make sure to head over to the StableSwap section.
After that, the StableSwap interface will be displayed as below.
To check the parameters of daily volume, amount of stablecoins in the liquidity pool, etc… click on Token Reserves.
Scroll down to see:
How to swap from one stable to another.
Thanks to Instant Swap, you can now directly swap using stablecoins in your Near wallet.
If you have your tokens deposited to Ref, simply go to Transaction setting → switch to Ref account
- The steps of StableSwap are as simple as normal Swap:
- First, Select the pair you want to swap.
- After that, Enter the amount of tokens you want to swap.
- Hit Swap.
2. Allow the transaction in your Near wallet.
3. Check your balance to see if the transfer was successful.
How to add liquidity to the Sauce Pool
- From the StableSwap interface, switch to the Add Liquidity tab.
2. In order to Add Liquidity, you have to Deposit your tokens to Ref Finance first.
To do that, simply head over to Ref Finance and Deposit your tokens.
3. After completing the Deposit step, head back to StableSwap → Add Liquidity
4. Now, there are 2 types of providing liquidity:
- Add all tokens in a balanced proportion.
- Add tokens in a custom proportion.
The default is Add all tokens in a balanced proportion, which means once you input a stablecoin amount, the system will calculate the rest stablecoins amounts to maintain pool weight.
The other option is Add tokens in a custom proportion, which means you could add any stablecoins of any amount within your balances. However, adding liquidity in an unbalanced way will cause unbalanced token reserves, therefore fees will be charged. The more unbalanced proportion of stablecoins you add, the more fees the system will charge.
4.1. To Add all tokens in a balanced proportion:
- Choose “Add all tokens in a balanced proportion”.
- Enter one stablecoin amount, the system will calculate the rest amounts.
- Hit Add Liquidity
- Allow the transaction in your Near wallet and you’re done!
4.2. To add tokens in a custom proportion:
- Uncheck every option in the checklist
- Enter the amount of stablecoins you want to add
- Hit Add Liquidity
- Allow the transaction in your Near wallet and you’re done!
4.3. There is also an option “Use the maximum number of tokens available” from the checklist.
Add liquidity with this option checked if you’re willing to use all of your tokens, but please keep in mind that providing liquidity in unbalanced proportions will be charged accordingly!
How to remove liquidity from the Sauce Pool
- From the StableSwap interface, switch to the Remove Liquidity tab.
2. Now, there are also 2 types of removing liquidity:
- Remove liquidity By Share.
- Remove liquidity By Token.
Remove liquidity “By Share” means you’ll receive all types of stablecoins from the pool in a weight proportional to the pool aka balanced proportion.
Remove liquidity “By Token” means you can choose the type of stablecoins you’ll receive and choose how many you’ll receive from the pool without the need of the weight to be proportional to the pool aka unbalanced proportion. However, as the protocol encourages balanced token reserves, any user willing to remove their liquidity in different proportions will be charged accordingly.
2.1. To remove liquidity By Share.
- Simply Enter the amount of LP tokens you want to remove liquidity or Choose how many percent you want to remove.
- Hit Remove Liquidity.
- Allow the transaction in your Near wallet and you’re done!
2.2. To remove liquidity By Token.
- Still in the Remove Liquidity tab, switch to By Token.
- Enter the amount of each token you want ro receive.
- Hit Remove Liquidity
- Allow the transaction in your Near wallet and you’re done!
- You’ll receive the tokens under your Ref account.
About Ref Finance
Ref Finance is built as one of the core projects in Defi Ecosystem on NEAR Protocol. Their main objective is to bring many core components of Defi Protocol, namely: Decentralized Exchange (DEXs), Lending Protocol, a synthetic asset issuer,… into a single, synchronous Defi Platform.
It is a native Dapps on NEAR Protocol — A climate-neutral, high speed & low-cost transaction fee layer 1 blockchain platform and potentially expands itself to attract tremendous funds from other blockchains ecosystems.
Find us on:
- Twitter: https://twitter.com/finance_ref
- Telegram: https://t.me/ref_finance
- Discord: https://discord.gg/cUbJSdVjj7
- Medium: https://ref-finance.medium.com/
- Ref Finance Gov: https://gov.ref.finance/
