 | The Celer Bridge is live and you likely want to know:
This post aims to answer both of these questions. --------------------- Are the incentives to provide bridge liquidity for Moons worth it?In order to answer this question we first need to understand how the Moon Nova/One bridge works. Importantly this bridge works by users Pooling Moons on both Nova and One, which then allows others users to Transfer Moons to a Pool on one side and then receive Moons from a pool on the other side of the bridge. I.E. A user transferring ten Moons from Nova to One would send ten Moons to the Pool on Nova and receive ten moons minus fees from the pool on One. Because the only thing being moved back and forth is Moons and you will always receive more Moons (fees) after someone uses your Pooled Moons to bridge. This allows users to farm Moon rewards with zero impermanent loss. ----- In this way - on paper, it is theoretically worth it for anyone to provide Bridge Liquidity as they earn extra Moons when their Moons are used by someone else to bridge to/from nova and one. However there are a few more considerations to make.
To Answer Question 1:
To Answer Question 2:
Given the fact that rewards come with Zero Impermanent Loss you have to decide if the third party risk makes sense for you to farm Celer Bridge Rewards, and if it does the amount of Moons you want to provide Bridge Liquidity with. --------------------- How do you provide liquidity?Providing Liquidity on Celer is incredibly Simple. First go to the Liquidity Page for the Celer Bridge. https://cbridge.celer.network/liquidity Once there connect your wallet that you will be providing Bridge liquidity with - once you've connected your wallet you can search Moon to find the Moon Pool or alternatively scroll through the pools until you see the Moon pool. Once you've found it expand the section and press the plus sign to add liquidity for Moons on Arbitrum Nova or Arbitrum One. Importantly you do not need to provide Bridge Liquidity on both sides. For this example I will be providing Liquidity on Nova. (but it's the same idea for One) Press the add Liquidity button (it will prompt you to switch to Arbitrum Nova if you are not already there, switch to Arbitrum Nova find the Moon Pool and press Add Liquidity again) and the following page will load. Important note: You must provide more than 35 Moons in Bridge Liquidity (35.1 works, 35 does not) Approve the Moons in your wallet, Important note 2: It is always recommended to ONLY APPROVE the total amount of Moons you'll be adding and never press Max. Once you approve the transaction the previous page will load for a few second and then show an Add Liquidity button. Confirm the transaction in your wallet and wait! Once the Transaction goes through you can then go back to the Moon Pool on Celer and you will now see your share of the liquidity on the display. As people bridge to/from Nova and One your liquidity will move between the two pools. You can remove liquidity at any time from either pool by pressing the negative button, and following the prompts to remove your liquidity from that pool. [link] [comments] |
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