*This post was reposted from Tealswap Medium.

Hello, Tealswap users!

We, Teal Labs, are thrilled to introduce the first milestone update for Tealswap, which is the Liquidity Pool Creation by User.

In most chains, if the DEX you are using doesn’t have a liquidity pool composed of your desired tokens, non-developer users couldn’t easily create liquidity pools themselves.

Until now, creating desired liquidity pools used to be a complex process through development tools, making it less accessible for most users, like this.

Example of creating liquidity pool at Tealswap by developer

Additionally, users had to operate within pools created by developers who understand Smart Contracts.

However, Tealswap offers you an easier way.

Now, on Tealswap’s website, you can create liquidity pools with just a few inputs and clicks.

All the user needs are the addresses of the two tokens they want to create a pool with and a minimum balance of the token they will provide as initial liquidity.

Let’s find out how to create a liquidity pool on Tealswap!

How to Create Liquidity Pools on Tealswap

Step.1 Pool List

First, please navigate to the All Pools section.

Create a New Liquidity Pool

At the very bottom, click on the “Create a New Liquidity Pool” button. At this point, your Wallet must be connected to Tealswap.

Step.2 Enter the values for liquidity pool creation

The explanations for each item are as follows.

Input fields

Component description

  1. First Token Address
    The address of the first token that makes up the liquidity pool.
    Please input a valid token address.
  2. First Token Amount
    The Token amount you want to provide as initial liquidity.
    Please input a value that does not exceed your current balance.
    You can enter a very small value if you prefer.
    Users who provide liquidity in first and second token amount will receive LP Tokens, and you can check them in your Portfolio after providing liquidity to the pool.
  3. Second Token Address
    The address of the second token that makes up the liquidity pool.
    The order of the tokens doesn’t matter, but it must be a valid token address and different from the first token.
  4. Second Token Amount
    The Token amount you want to provide as initial liquidity.
    Please make sure to input a value that does not exceed your current balance.
    You can enter a very small value if you prefer, it’s totally fine.
  5. Initial Liquidity Ratio
    Once you input the amounts for the First token and Second token, the initial ratio of the liquidity pool will be automatically calculated.
    You can set this ratio to any value you prefer, it doesn’t matter.
    Even if you choose an initial liquidity ratio significantly different from the market ratio, as swaps occur, the prices will converge closer to the market prices.
  6. Create Liquidity Pool
    If you have entered all the valid values, the execution button will be activated. Please click it, to move on to the next step.

Step3. Token approval process

To create a liquidity pool at Tealswap website, an token approval process is required to supply the specified token amount and create the pool.

If you have already approved liquidity provision or any other actions, you will be automatically directed to create a liquidity pool step.

Shall we go through this process step by step together?

1. Start Approve process

Approve window (example)

If you haven’t approved the specified Token Amount for both tokens required to create the liquidity pool, you will see separate approval screens for the First token and Second token.

Please press the “Approve” button on each screen sequentially to proceed a Metamask process.

2. Execute Metamask approve

Metamask input window after clicking the “Approve” button (example)

When you approve tokens at the metamask, please refer to Minimum Approve Amount vaule on the Tealswap window.

If you try to approve an amount lower than the requested value, the transaction won’t meet the required conditions for execution, and you’ll be asked to repeat the Approve process.

3. Complete Token Approval

Execute “Create Liquidity Pool” action

Now that the Approval process is completed, you can proceed with creating the Liquidity Pool! Please click the “Create Liquidity Pool” button on the screen below to proceed.

Step4. Liquidity Pool Creation Result

After submitting the Liquidity Pool creation request, you will see the completion screen shortly.

Completion window of Liquidity Pool Creation (example)

Once you go back to the All Pools section, you will see that the Liquidity Pool has been successfully created.

Update Pool list and Portfolio (example)

This is end of the manual of how to create a liquidity pools on Tealswap.

Now, feel free to create and utilize Liquidity Pools right here on Tealswap!

Dive into the world of DeFi and experience the convenience and benefits of our platform, and happy trading on Tealswap!

Do you have any additional inquiries?

If you have any questions or need support, our team is always here to assist you, via Tealswap Discord.

Tealswap, Always with you.

Tealswap will continue to do our best to enhance your convenience.
We kindly ask for your continuous interest and support for the next steps of Tealswap!

Want to know Tealswap’s next steps? Please refer to our recent blog post!

Tealswap: Unveiling the Next Milestone

Tealswap is the one and only DEX on Oasys Network.