How to mint Saturn20 and Add Liquidity on Uniswap

Here we will walk you through minting Saturn20 tokens and how you can start collecting fees by adding liquidity to Uniswap.

How to mint Saturn20 and Add Liquidity on Uniswap

Now that Saturn20 is live, you have the possibility to add liquidity and start collecting fees from any swaps between ETH and SATURN via Uniswap. Once activated Saturn DAO members will earn dividends from trading fees collected by Saturn Protocol, and as the protocol uses Uniswap to fulfil Atomic Orders, this is a great way to double dip on our own Saturn market.

Saturn20 is live and listed Uniswap
You can now mint Saturn20 via our open source converter dapp to trade via Atomic Orders or pool liquidity on Uniswap.

Here we will walk you through minting Saturn20 tokens and how you can earn fees by providing liquidity.

  1. Why provide SATURN liquidity?
  2. How to mint Saturn20 tokens?
  3. How to add liquidity to Uniswap?

Why provide SATURN liquidity?

Low liquidity has long been the scapegoat for slowing the growth of decentralized exchanges. One of the main issues is that for the average trader despite market making being a known profitable trading strategy it is simply too difficult or time consuming to be an effective market maker. You may not have the budget to keep going until the point of profitability or you may not have the skillset to run trading bots for decentralized markets.

How profitable is market making on different exchanges
In this blog post we’ll cover the basics of what is market making strategy, describe its pitfalls, and calculate profitability of market making on different exchanges with various cryptocurrencies. Please enjoy.

Uniswap solves all these problems by incentivizing users to add any amount of liquidity, it doesn't matter how small, and algorithmically pooling the liquidity to create an automated market maker. Whenever someone trades via Uniswap, the trader pays 0.3% fee which is added to the liquidity pool. Because there is no new liquidity tokens minted (more on that below), it has the effect of splitting the transaction fee proportionally between all existing liquidity providers.

How to mint Saturn20 tokens?

  1. Ensure you are logged into your preferred Dapp browser (MetaMask, Saturn Wallet, Nifty Wallet, Trust, Enjin, Coinbase etc...) and have funds available. If you need more SATURN you can always buy off the exchange.
  2. Open up the Saturn Token Converter dapp, enter in the amount of Saturn20 you would like to mint. Remember you need to have the equivalent amount of Saturn ERC223 available in your wallet and click Swap Now.
  3. This will prompt you to sign the transaction, once the transaction is confirmed, you will find your new Saturn20 tokens directly in your wallet.
Mint Saturn20 example using Trust wallet

How to add liquidity to Uniswap?

  1. Ensure you are logged into your preferred Dapp browser (MetaMask, Saturn Wallet, Nifty Wallet, Trust, Enjin, Coinbase etc...) and have funds available. To add liquidity you will need ETH and an equivalent amount of Saturn20 available.
  2. Open Saturn's Uniswap Liquidity Pool, once the page loads you should see the Saturn ERC20 token has been automatically selected. If your wallet does not connect automatically, use Connect to a Wallet on the top right and then select your crypto wallet. If you are using Saturn Wallet you can select Injected.
  3. Set the amount of ETH you would like to add and the equivalent amount of SATURN tokens will automatically be adjusted. First you will need to press Unlock and submit the approve transaction for your tokens.
  4. Once the unlock transaction has confirmed, you will be able to click Add Liquidity. This will prompt your wallet to sign the transaction, once the transaction has confirmed your liquidity will have been added.
Add Liquidity example with Trust Wallet

Good To Know

  • You will also find your wallet has received an UNI-V1 token. This is our Uniswap pool token that has been minted when you added liquidity, it keeps track of your share of the Saturn liquidity pool.
  • You can remove your liquidity at any time, open Saturn's liquidity pool and make sure Remove Liquidity is selected at the top. Follow the exact same process as adding, Uniswap will automatically tell you your available pool balance.

Happy Pooling!

New to Saturn Network?

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