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Providing Liquidity through the Pilot Protocol

Step​ ​1:​ Create a Vault

A user creates a Vault for a pair that doesn't already exist. With the launch of our protocol, we will also release a front-end interface that the users would be able to use for this. Later, we expect to integrate this into a number of community-created interfaces, such as Instadapp, Zerion, and MyEtherWallet, etc.

Step​ ​2:​ ​Deposit liquidity into the Vault

The user initiates a transaction, and then chooses to deposit liquidity into the vault either by providing both assets e.g., (ETH/USDT), or can also choose to provide liquidity using just one asset e.g. ETH and the Pilot protocol will convert this asset into two and automatically adds liquidity on behalf of the user. ( See section 2.8 for more details)

Step​ ​3:​ Withdraw Fees

To withdraw fees, the vault participants can choose to withdraw in one of two ways:
  1. 1.
    Claim the fees in the pair that they provided, in this case, we will charge a small fee, called Vault Fare, from their fees and send this to the index fund. This percentage is set at 15% which can be later changed through governance.
  2. 2.
    Users can choose to claim 95% of their fees in pilot tokens, while the fees generated will be added to the Index Fund. Pilot tokens will be minted equivalent to 95% of the dollar value of their fees and given to the vault participant.
Withdrawing fees in the underlying tokens.
Withdrawing fees in $PILOT.

Step​ ​4:​ ​Withdraw Liquidity

The Vault participants can withdraw all or some of their liquidity back to their wallets. Although, if there are any fees generated on their liquidity while participating in the vault then upon withdrawing, the protocol will withdraw fees in one of the two options explained in Withdraw Fees (Step 3).
Note: Only tokens whitelisted through governance will be eligible for claiming fees in $PILOT tokens.
Last modified 23d ago