How to Interact with $ZYRO on Uniswap
Uniswap is a fully decentralized token swapping protocol based on ETH. It utilizes a liquidity pool mechanism instead of Order Book. Anyone is allowed to swap between a token and ETH and gain returns by providing liquidity of any amount. Any user is also allowed to create a market (or a liquidity pool) by providing the same value of ETH and ERC20. Each token on Uniswap only allows one market. The market creator sets the exchange rate, and the rate changes based on trading, due to the adopted “Constant Product Market Maker” mechanism. When trading reduces the liquidity of one token relative to the other, the price will change accordingly, which creates arbitrage opportunities and encourages more trading activities.
Uniswap does not have its own native token. All transaction fees (0.3% of each transaction amount) will be added to the corresponding liquidity pool. All the transaction fees will be shared among all liquidity providers proportionate to their liquidity provided of the whole pool. Liquidity providers can add or withdraw assets at any time.
How to use Uniswap with your wallet
Wallets available: imtoken, mykey, mytoken, etc.
With imtoken as an example. First, enter https://uniswap.info/home in the DApp website box;
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You will see the following page. Search “ZYRO”, and the two options of ZYRO-ETH and ETH-ZYRO will pop up.
Select the ZYRO-ETH pair and tap on +Add Liquidity.
Tap on the arrow next to Add Liquidity and you will see the Pool section.
Here is a brief introduction to Send, Swap, and liquidity pool.
Send: For example, I want to send 10,000 ZYRO to a wallet. The 10,000 ZYRO will be swapped into 9.47155 ETH. Enter the recipient address and the ETH will be sent to the address.
Swap: swap between assets, e.g. swap ZYRO into ETH, or vice versa.
Liquidity Pool: Deposit your token in a liquidity pool and get your share in the pool (all demonstrated in ETH). When other users conduct swapping with Uniswap, the corresponding pool will get a 0.3% transaction fee, which will be stored in the pool. And you will be able to get your rewards proportionate to your share.
Zyro — A DeFi Project in Zilliqa Ecosystem
Developed by core members from the Zilliqa community, Zyro is a decentralized protocol based on Zilliqa public chain, with ZYRO being its native governance token. ZYRO holders are able to participate in future planning and asset management for Zyro. Users are allowed to mine ZYRO by providing liquidity and trading on DEXes. They can also get ZYRO through successful referrals and becoming nodes. The underlying public chain Zilliqa adopted by Zyro greatly increases the transaction speed and reduces transaction fees, enabling a frictionless trading environment and the best battlefield for frequent traders.
Official website: https://zyro.finance
Contract address: https://viewblock.io/zilliqa/address/zil1ucvrn22x8366vzpw5t7su6eyml2auczu6wnqqg