Adding / Removing Liquidity

This page talks about how Step integrates and uses the Serum AMM.

What are Liquidity Pools on Step?

Step aggregates all liquidity pools across multiple protocols on Solana. The 'Liquidity Pools' page gives an insight into a list of available pools and you can sort these pools by a number of metrics or search for a particular coin or pair you are looking for.

Why do I see multiple Liquidity Pools for the same pairs on Step?

Some AMMs like Serum lists a number of pools for the same pairings that have been created by other contracts, referrals or by Serum itself. Unlike comparative platforms on Ethereum like Uniswap/SushiSwap, there can be multiple pools for the same pair on Serum. When adding/removing or swapping tokens the pool with the highest liquidity will be auto-selected for the swap or add/remove liquidity.

How Do I Add Liquidity to a Liquidity Pool on Step?

On the Trade page click on the 'Pool' tab.

From there you will be able to click on the two currencies you want to LP for in equivalent amounts (50/50).

Add Liquidity

You must have a balance of both in order to add liquidity to a pool. When you are ready you can click 'Provide Liquidity' which will execute a transaction to add your liquidity to the Serum AMM pool for that pair.

How do I Remove Liquidity from a Liquidity Pool on Step?

To remove liquidity from a Serum Liquidity Pool on Step on the 'Pool' tab you can click on a button called "My Pools".

Click 'My Pools"

On this page you will see a list of liquidity pools you have associated with your wallet. To remove liquidity click 'Remove' on this page

Click 'Remove'

On the 'Remove' page you will be able to select the mount of liquidity you want to remove as a %. When you have selected an amount to remove click 'Remove' and a transaction will execute to withdraw the underlying tokens of the LP to your wallet

Click 'Remove Liquidity'

The underlying tokens will now be in your wallet.

Adding/Removing Single Sided Liquidity

For any pair, Step makes it possible for users to add Single Sided Liquidity whereby a user needs only one token to enter the pool. Please be aware what this function does is sell 50% of the token you input as to get a proportional 50/50 pool balance. This sell happens on the same pool you want to enter. THIS CAN RESULT IN A LOT OF SLIPPAGE ON ILLIQUID POOLS.

Pay attention to slippage, know what you are doing

It is often always best to get the correct 50/50 portion of each currency to enter an LP with before becoming a liquidity provider as you can then locate the optimal pool to swap to with the least slippage. Once you have the two tokens in equal proportion you can return to Step and enter the pool with a balanced 50/50 pair.