You can supply DENA liquidity (reserves of DENA-DAI, DENA-ETH …)to well known decentralized exchanges and stake received LP (Liquidity Provider) token to earn DENA and a portion of the trading fee as a reward. The mining rate of DENA is determined by
- Amount of your LP token staked / Total amount of LP token staked
Steps to participate and exit mining pool is described as below.
- Add Liquidity & Receive LP Token
Add DENA liquidity (reserves of DENA-DAI, DENA-ETH …) and receive LP token
- Stake LP Token
Stake LP token to staking smart contract and start to mine DENA
- Claim DENA
Claim mined DENA from the smart contract. Your LP token will be still staked and earn DENA afterwards.
- Withdraw LP Token
Withdraw staked LP token and mined DENA to your wallet. You cannot mine DENA after you withdraw your LP token. However, you will still earn trading fee if you keep your LP token.
- Learn more about Decentralized Exchanges