My entire fortune is here. $342 Providing liquidity for the SUI - USDC pair at @MMTFinance I think Momentum is the engine that supports the liquidity of various assets in the Sui ecosystem. Why is LP (Liquidity Providing) profitable? For a transaction to occur on the blockchain, someone needs to create a pool that is ready for coin exchanges. What is needed here is LP, or liquidity providers. 1. Like the role of a local supermarket owner. Think about it. If local people want to exchange apples and oranges, it would be inconvenient to meet directly to trade. So someone opens a supermarket and displays plenty of apples and oranges. People can come to that supermarket and exchange apples for oranges anytime. The person who opened the supermarket is the LP. And every time an exchange occurs, a fee (transaction revenue) goes to the owner (LP). 2. Fees = LP's revenue Every time someone exchanges coins in the pool, a fee like 0.3% is generated. This fee is distributed to all LPs...
๐ SHARE YOUR MOMENT WEEK2: MONEY FLOW
In #SUIRL, Momentum CSO Vinny mentioned that momentum is where the money flows. In this way, Momentum handles many assets and is responsible for liquidity within Sui.
In that sense, the second topic is to show your money flow created within Momentum!!
๐ How to participate:
: Like and RT the tweet
: Quote the tweet with LP provision + attach swap image
: Share which assets were handled at @MMTFinance
This event is to find out how diverse the assets handled by Momentum are and how it manages liquidity through participants!
I put my SUI USDC in, and although I went out of range... I'm holding on with the mindset that I will never incur IL, haha ใ
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*The Google Form is in the comments below the post! The prizes are 5 DEEDs and 50 chickens! The deadline is until September 10!! Let's go!
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