Using Internal Exchange on chainzarena.com
In this article we will show you how and where you can use the internal exchange including providing liquidity. The below article is applicable to both Server 1 and Server 2.
Firstly head on over to the “Exchange”button as seen below.
click on “Exchange” and then click on “CZ Swap”
Once you are in the “ChainZ Arena Exchange”you will be presented with the screen above.
The swap function in here you can swap the soul you have into your default currency and vice versa. You will be able to see the current cost of buying/selling soul. Simply click on the amount you wish to sell or buy and click on swap. The funds will then be automatically transferred to your ingame wallet. IF you want to sell your SOUL using the “Swap”function your SOUL tokens need to be unfrozen.
If you are providing liquidity on SOUL/your default currency simply click on “Liquidity Pool” and add liquidity to the pool. You must provide provide liquidity in a 50/50 $ proportion soul/(your default currency).
Please also understand the risk associated with providing liquidity and impermanent loss. We have written an article on impermanent loss which you can read more about HERE. Make sure you understand it before you provide liquidity. Your SOUL and Default currency may increase or decrease according to swaps. Which may also effect your SOULdrops and MBOX airdrops.
Here are the rules and fees of the “CZ Swap Exchange”:
✅1.Only unstaked SOUL can be used to swap to default withdrawal currency.
✅2.Only staked SOUL and default withdrawal currency can be used to provide liquidity to the Soul/USD liquidity pool and receive Soul/USD LP. The SOUL in liquidity pool will continue to receive SOUL Drops and MBOX airdrops.
✅3.In each Swap transaction,0.3% of the USD will be rewarded to the liquidity providers and 0.3% of the SOUL will be burned. When the player withdraws their liquidity, they will be rewarded with the corresponding USD reward according to the amount of LP.
✅4. Every 24 hours 20,000,000 gold and 4,000,000 spirit, will be reward to liquidity providers according to their portion of LP/ Total LP.
✅5. A fee of 0.5% will be charged if LP is staked for less than 24 hours, and no fee for more than 24 hours.
✅6.When withdrawing Liquidity, players exchange their LP tokens for the corresponding SOUL and default withdrawal currency.
✅7.Warning: In the process of providing liquidity, the value of your tokens may change. Overall token value may increase or decrease. This is called “Impermanent Loss”. For more information : https://chainzarena.medium.com/impermanent-loss-93b07fbcfe56
Please familiarize yourself with the above fees and rules before you provide liquidity and understand the risk associated with providing Liquidity.
Once you are ready to provide liquidity simply click on how much SOUL you would like to provide and the the exchange will automatically calculate based on that SOUL how much you need to provide of your default currency, as shown in the example below.
Once you have provided Liquidity your LP (Liquidity Provider ) tokens are automatically frozen and you will be able to see your share live in the “My Position” this will show you how much your current position this is including the fees gained as well as how much of Gold and Spirit you have received.
If you want to claim your Gold and Spirit simply click on “Claim”. If you don’t want to provider Liquidity on your pairing simple click withdraw, and your funds will be returned to your ingame wallet.
Important to remember you can use frozen SOUL to provide liquidity.
You can not use frozen SOUL to SWAP between currencies (Swap tab).
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This article was true and correct at time of publishing