Zyro Mining FAQ

in #zillqa4 months ago (edited)

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What is zyro’s mining portal?

Swap.zyro.finance

What is zyro’s contract address?

zil1ucvrn22x8366vzpw5t7su6eyml2auczu6wnqqg

User guides:

How to transfer ZYRO from ERC20 to ZRC2:

Article: https://steemit.com/zilliqa/@zyro.finance/user-guide-or-how-to-transfer-your-erc-20-token-to-zrc2
Video:

How to download Zilpay, and connect it to Zyro:

https://steemit.com/zilliqa/@zyro.finance/user-guides-or-how-to-connect-zilpay-to-zyro

How to swap and provide liquidity:

https://steemit.com/zilliqa/@zyro.finance/user-guide-or-how-to-swap-tokens-on-zyro
https://steemit.com/zilliqa/@zyro.finance/user-guide-or-how-to-provide-liquidity-on-zyro

I cannot swap/provide liquidity, why?

When you submit an transaction (approve/swap/supply) to zilliqa chain, there will be three possible states (see following pic1).

A: a red dot, that means the transaction failed, its rejected by zilliqa’s node, could be network issue, could be gas fee issue, so refresh the web and submit it again, probably with higher gas fee.

B: a green dot, that means the transaction is accepted by zilliqa’s node, plz tap on the transaction and click on ‘view on viewblock’, most of the time it means that the transaction is succeeded (see following pic3), but in some cases it may fail (see following pic4), if it fails, plz try again with higher gas fee.

C: half green circle, this mean the transaction is waiting to be submitted to zilliqa’s node, plz wait till it turns into either green or red dot.

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Before you make any swap/supply, refresh the web page and make sure that all the balances of your zil/zyro/zlpt is correctly shown on the page, see the following pic, otherwise try clear the browser cache and refresh again. If the numbers are not ready on the web page, the transaction is most likely to fail.

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If the transaction still fails, it's mostly due to that someone is swapping during the time you are confirming to supply or swap, so the price changed in the unfavorable direction. Just refresh and Try again.

Is there a way to oversee all the txn and rich list of zyro?

Sure, https://viewblock.io/zilliqa/address/zil1ucvrn22x8366vzpw5t7su6eyml2auczu6wnqqg

What is ZLPT?

ZLPT is the token that you get in return when you provide liquidity, it is like lpt for uniswap, the design is for future composability, for example, the ZLPT could be your collateral to borrow more zil/zyro to regain the liquidity. ZLPT is instantly minted when you provide liquidity(of coz given the block producing time, could be a lit bit delay). the number of zyro you mine will be determined by the proportion of ZLPT you have comparing to the total ZLPT, we call it the pool share, and the transaction fee dividend you get is also determined by the pool share. For example, the total number of zyro being mined of the day is 20K, and the total transaction fee of the day is 2K zyro plus 4K zil, while you have 1% pool share, you will get 1%20K=200 zyro from mining, 1%2K=20 zyro plus 1%*4K=40 zil from transaction fee dividend.

When will new trading pairs be listed?

soon more pairs are coming, but we dont want users to be spammed by fake pairs and always had to confirm the contract address. so we will list new pairs thru community voting, token holders will be deciding which pair to be listed. Although we do consider to list gzil when the mining starts.

what is the APY like?

The actual APY depends on pool size. Given the numbers on convert portal, 2.6M zyro has been converted from ERC20 format to ZRC2 format, which is total circulation of zyro on zilliqa chain. Lets assume the 25% of the circulation will stake in liquidity mining. (same proportion as zillion staking participation) according to the tokenomics, close to 20K zyro will be mined each day from the liquidation providing pool, that’s 1.5% each day, 562% APY, not mentioning that
20K will be mined from the trading pool, so the APY can be as high as 1124%, transaction dividend not counted yet.

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How much is the gas fee for swapping or providing liquidity?

Don’t be scared by what it says on Zilpay about the Gas fee, that’s an estimated maximum. Usually, itcosts 1-8 ZIL for the transactions like swapping or providing liquidity.

Why is my ZIL/ZYRO positions changing all the time? /why is my ZIL/ZYRO number when I remove the liquidity different from the number when I provided the liquidity?

In an automated market making DEX, you are the market maker by providing liquidity, anyone swap in a certain pool on the platform. Say you have 10% pool share, and someone swaps 100 ZIL for 50 ZYRO in the pool, then you will automatically trade 5 ZYRO for 10 ZIL with the trader, which makes your ZYRO position drop by 5 and ZIL position pumps by 10.