šŸŸ©Symbiosis Liquidity Pools

Symbiosis WebApp user guide: Depositing and withdrawing liquidity to/from Symbiosis Octopools.

Symbiosis owns two Octopools that are used to run cross-chain operations. Every cross-chain operation performed via Symbiosis passes through one of the Octoppols. Symbiosis Octopools are located on Boba BNB (the Symbiosis host chain), and:

  • One of the pools contains sUSDC, sUSDC.e, sBUSD tokens for corresponding blockchains (Ethereum, the BNB chain, etc.) and USDC for Boba BNB,

  • The other contains sWETH tokens for corresponding blockchains (Ethereum, Arbitrum, etc.)

Any user who adds assets to an Octoppol becomes a liquidity provider and receives rewards for providing liquidity. For more information about Rewards Programs, please refer to Symbiosis Reward Programs.

Symbiosis Octopool

The easiest way to find complete information about the Symbiosis liquidity pools (Octopools) is to use Symbiosis WebApp:

Address for LP tokens

As you may know, when you add liquidity to a liquidity pool you receive LP tokens in exchange. These LP tokens are used to withdraw the assets from the liquidity pool. Therefore, please pay close attention to the address to which your LP tokens are sent.

By default, LP tokens are sent to the address that matches the sender's address (the address from which you send liquidity). This works fine if your assets and the liquidity pool are on the same blockchain.

The Symbiosis liquidity pool is located on Boba BNB. In most cases, you add liquidity to this pool from a different blockchain. By default, LP tokens are sent to the address on BOBA BNB that matches the sender's address (the address from which you send liquidity).

If you use a multisig contract to sign transactions, please provide a valid address on Boba BNB for LP tokens. This is very important because the multisig contract addresses are likely to be different on the source blockchain (from which you send liquidity) and the destination blockchain (Boba BNB).

If you are hesitating what multisig to use on Boba BNB, you can consider using Boba Multisig.

Depositing Liquidity

To deposit liquidity to a Symbiosis Octopool:

  1. Connect your wallet.

  2. If you see the Switch network to <Network name> button, switch to the network by pressing the button and confirming the action in your connected wallet.

Done āˆŽ

Withdrawing Liquidity

Symbiosis Octopools are hosted on Boba BNB, which is the Symbiosis host chain. As a result, any liquidity withdrawal must be performed on Boba BNB. To facilitate this, BOBA tokens are required to cover the transaction fees on Boba BNB. Fortunately, BOBA tokens are quite affordable. To acquire them, one can either:

  • Swap available tokens for BOBA using Symbiosis WebApp, or

  • Request Symbiosis to send some BOBA tokens specifically for the liquidity withdrawal. Please include your wallet address to the request.

Liquidity withdrawal consists of two steps:

  1. Liquidity withdrawal,

  2. Swapping sTokens (sUSDT, sUSDC, sBUSD) for stablecoins: when you withdraw liquidity (Step 1), you get sTokens (sUSDT, sUSDC, sBUSD) on Boba BNB in most cases. Boba BNB is the Symbiosis servicing chain where the Symbiosis liquidity pool is located. You can exchange the sTokens for stablecoins on a corresponding blockchain at the rate of 1:1. Do not miss the instructions below: Swapping sUSDC, sUSDCe, sBUSD, and sWETH

To withdraw liquidity from Symbiosis Octopool:

  1. Shortly, you will get a confirmation.

When you withdraw liquidity from the Symbiosis liquidity pool, you get sTokens (sUSDC, sUSDC.e, sBUSD, or sWETH) on Boba BNB in most cases. Boba BNB is the Symbiosis host chain where the Symbiosis liquidity pools (Octoppols) are located.

sUSDC, sUSDC.E, sBUSD, and sWETH can be bridged 1:1 for USDC, USDC.E, BUSD, and WETH, respectively.

Instructions are below.

Done āˆŽ

Swapping sUSDC, sUSDCe, sBUSD, and sWETH

When you withdraw liquidity from the Symbiosis liquidity pool, you get sTokens (sUSDC, sUSDC.e, sBUSD, and sWETH) on Boba BNB in most cases. Boba BNB is the Symbiosis host chain where the Symbiosis liquidity pools (Octoppols) are located.

sUSDC, sUSDC.E, sBUSD, and sWETH can be bridged 1:1 for USDC, USDC.E, BUSD, and WETH, respectively.

To bridge sUSDC, sUSDC.E, sBUSD, or sWETH:

  1. Connect your wallet.

  2. Press the Burn button, and confirm the transaction in your wallet.

  3. Shortly, you will get a confirmation.

You always can check status of your cross-chain operation using Symbiosis Explorer.

Done āˆŽ

If you have any questions, please contact our live support on Discord.

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