When depositing to a liquidity pool on the Verse DEX, you can use either of the tokens in the pool as your “deposit” token. Behind the scenes, Verse DEX will automatically convert half of that token to the other token in the pair, then deposit both into the pool.
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What is Verse DEX Single Asset LP Deposit?
Single Asset LP Deposit is a feature on the Verse DEX that simplifies the process of depositing the assets needed for liquidity pools. Rather than having to manually deposit equal amounts of the two tokens needed for a given pool, now you can select one of the pool’s tokens to contribute to the pool. Verse DEX will automatically convert half of that token to the other token in the pair, then deposit both into the pool.
For example, let’s say you want to contribute to the VERSE/ETH liquidity pool. Imagine you have ETH, but not VERSE. Thanks to the Single Asset LP Deposit feature, you can:
Specify an amount of your ETH to use.
Initiate and confirm the deposit.
Receive VERSE-ETH LP tokens.
Behind the scenes:
50% of the ETH (less the estimated cost of gas) is automatically swapped to VERSE.
ETH and VERSE are deposited into the liquidity pool at a 50-50 ratio.
VERSE-ETH LP tokens are sent to your wallet.
Note that you must have ETH in your wallet to pay the gas needed to execute the swap and deposit transactions. If you’re using ETH as the starting token and you choose to deposit all of your ETH into the liquidity pool, Verse DEX will automatically leave enough ETH in your wallet to complete the transactions.
Does this feature work with only the VERSE-ETH Pool?
This feature works for all pools on the Verse DEX.
Do I need to pay for gas?
Yes, users still need ETH in the wallet to pay for gas.
Is the contract audited?
Yes, the contract has been audited by Chainsulting. Please find the audit report here: https://verse.bitcoin.com/audits/
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