A little help with LPing on quickswap/matic

ETHEREUM
#1

Hi there, long time I hadn’t logged in to the academy. Came back for a little orientation.

Turns out that I have become a LP in quickswap, with these kind of rewards, who wouldn’t:

image

and when I joined the pool the rewards were at 700% APY …well, so I joined this one and others, but turns out that when I check the “accrued fees & analytics”, this shows up:

image

yesterday, the matic/USDC pool was at minus 800USD, so I tried to remove my liquidity, and this shows up:

image

So … i’m like … wait, I’m not losing money (those -500 that you can see in the second picture or -800USD that I mentioned earlier), but then … what does the “accrued fees & analytics” shows???

As my understanding (Iam also a LP on defi chain), for being a LP you get rewards in the form of both of the tokens you provide liquidity for, like this:

image

(that 0 BTC is in fact 0.000000something)

but it seems like, when I removed my liquidity, I got some quickswap tokens (like 16USD worth of it) which kind of matches the APY of the period when I was providing liquidity in (like 2 days)…

So my question really is: does quickswap only reward quickswap tokens for providing liquidity?
or does it reward both of the pool tokens? or does it provide both of them plus some quickswap?

I know what impermanent loss is, I have done my own research, but still I cannot figure out quickswap. I saw a lot of people like me asking these king of questions on reddit as well

hope that anybody can help @thecil or @filip or @amadeobrands

#2

Hey @javier_ortiz_mir, glad to see you around again.

The way I understand quickswap is that when you provide liquidity on any of their pools, you will receive the APY directly in your LP, the additional reward on quickswap token is for participating on the platform (by providing liquidity). So you receive rewards from APY + QUICK.

Carlos Z

#3

@thecil Hey carlos!!1 I could never forget my first blockchain academy!!!

Thanks for the swift answer!! But, how come in the second picture I can see some “negative” fees, but when I withdraw the liquidity I can see more than the amount which is listed right before in the “accrued fees & analytics” section?? That is the part that I do not understand at all. Some people in reddit are saying that is a bug in the UI, or something like that, but I would really like to monitor how much APY Im getting on a monthly or on a weekly basis, since the APY’s vary a lot on quickswap

#4

Might be a bug on their interface (UI), could be a bad calculation on big numbers from the blockchain to showed properly in the UI (converting a huge number into a readable one). Any case, if you cant wait for them to to fix the bug, you could build your own interface (requires programming).

Carlos Z

#5

Sounds like a great project!! Could you guide me?

#6

Basically you need to build a dapp, but only the front end, cuz you will be interacting with quickswap token.

So HTML, css and Javascript are need it for the frontend, also fundamentals on web3.js.

The tricky part will be to learn how the quickswap contract works so you call the proper functions and what they do.

This course is focus on how to build the dapp: https://academy.ivanontech.com/courses/ethereum-dapp-programming

Carlos Z

#7

thanks bro! I will take that course… by the way I see that you have added many new courses, finally!!

In the meanwhile I have learned a lot about HTML/CSS/JS, so I think Im going to do just fine… not sure how to work wqith the quickswap contracts… I think there are many bugs with quickswap still

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