How to provide liquidity on polygon for under 1$ transaction fees/gas total
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As we all know the gas fees on ethereum are backbreaking for everyone but whales. But with polygon you can provide liquidity for very little money while still having access to most erc-20 tokens.
In order for this to work, you need to have an account on an exchange that has withdrawals directly to the polygon chain enabled, like binance for example. As otherwise the bridging fees from ethereum to polygon would make it not economical viable again.
Step 1: Buy MATIC on the exchange of your choice and withdraw it to your metamask wallet. (Dont forget to add the Polygon network to your metamask with the little metamask button at the bottom of https://polygonscan.com/ or your funds will not be visible)
Step 2: Connect your metamask wallet to quickswap.exchange (biggest native DEX on polygon) and use SWAP to exchange the MATIC for the 2 tokens you wanna provide liquidity for in a 50/50 value ratio (leave some spare MATIC for gas tho)
Step 3: Click on POOL then on Add Liquidity and select your 2 tokens and then click Supply. You will recieve liquidity pool tokens, which you will need to withdraw your funds plus the fees you collected from providing liquidity again.
Step 4: These pool tokens can be further staked in liqudity farms to increase your rewards, which of course can be staked in other farms.
I for myself am providing liquidity for the ETH-Matic pair to minimize impermanent loss, and staking the pool tokens in the pairs dual liquidity mining farm and the rewards will be staked in multiple farms for around 50% apy.
But if youre a degenerate gambler and not afraid of impermanent loss or rugpulls you could provide liquidity for KIRO-MATIC or GENESIS-QUICK for 143.000% or 174.000% apy
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