How to use Honeyswap to provide liquidity | ETHO - xDAI

Connect your wallet to the Ethereum sidechain - the xDai Network

Step 1:

  1. Open Metamask, and select "Custom RPC" from the Network Dropdown.

  1. In the "Custom RPC" Settings, add in the xDai network details and click Save:

If you do not do this then you may see this error "Wrong Network" when trying to use Honeyswap. If you get this and you are looking at how to fix the error then you simply need to connect to the xDai network using the steps above.

Buy Dai on Ethereum chain and convert to xDai on xDai chain

Step 2:

  • You can buy Dai on Uniswap

  • Switch back to the ETH Network in your Metamask wallet

  • Convert Ethereum to Dai using Uniswap or another exchange.

  • Transfer your Dai on the Ethereum Network to xDai on the xDai Network. You need to use a bridge to do this. You can use this bridge here: https://dai-bridge.poa.network/).

Make sure you are using the Ethereum network in Metamask to send. Likewise if you were trying to send xDai back into Dai you would be using the xDai network to send back. Be a bit patient here as it takes a few minutes for your xDai to appear in your wallet.

If you have xDai shown on the left (as per the screen below) then you are using the xDai network in Metamask and need to switch back.

Transfer ETHO to Wrapped ETHO on the xDai chain

Step 3:

Use our bridge to transfer ETHO to Wrapped ETHO on the xDai chain https://honeyswap.ether1.org/

Add liquidity to a pool (we will add to the xDai / ETHO pool)

Step 4:

  1. Switch to xDai Network in your Metamask wallet

  2. The pool is about 50/50 xDai and ETHO so consider this before choosing how much to swap. (be sure to leave atleast 1 xDai in your wallet as it is used for gas fees similar to how ETH is used for gas fees on Ethereum.

  3. Add to the ETHO xDai pair from HERE

    • Click on pool > Add Liquidity

  • Confirm and pay for the transactions. Be sure to also click 'Supply' after the swap is 'Approved' to put your pair in the pool to provide liquidity. After you should see something like this showing you your pool allocations.

Great! now you are providing liquidity to the ETHO xDai pair on 1Hives Honeyswap. You may be wondering what you get for doing this? For example on Uniswap you get UNI tokens for staking your digital assets. Likewise on Honeyswap you get rewarded for providing liquidity.

Wrapped ETHO (ETHO)