MIRA has launched Permssionless Pools! Earlier, to create a pool, the MIRA team needed to add it manually to the smart contract, which kept the process slow, now anyone can create a pool for any asset in just a few clicks.

Ordinary users get more assets to trade while liquidity providers can easily bootstrap their liquidity on Fuel by creating pools on Mira permissionlessly. With this feature, we expect more liquidity and trading growth on MIRA and Fuel in general.

What are liquidity pools?

Liquidity pools are smart-contract-based reserves of tokens that allow decentralized exchanges (DEXs) to facilitate automated trading without needing traditional order books. They make it possible for people to trade tokens 24/7, even if there isn’t someone on the other side of the trade. Trading becomes smoother!

Liquidity providers (LPs) deposit pairs of tokens into these pools in equal value. For example, for an ETH/USDC pool, LPs would need to deposit $500 worth of ETH and $500 worth of USDC. In return for liquidity, LPs earn a portion of the trading fees from that pool. Additional rewards from the other on-chain projects are possible, they are called bribes.

Currently, MIRA offers two types of pools for its users:

• Stable pools are designed for tokens that have little to no volatility, precisely, for stablecoin pairs (eg., $USDT and $USDC) or assets that correlate closely in price (eg. $ETH and $rstETH). Since the LP risk is low, the fees collected by LPs are 0.05%.

• Volatile pools are designed for tokens with high price volatility (eg. $ETH and $BTC). Since LPs take on more risk, the fee tier is 0.3%.

You can learn to add liquidity to MIRA pools here.

Why make them permissionless?

"Permissionless" liquidity pools mean that anyone can create a pool on the MIRA platform without the MIRA team's approval. This openness empowers developers and users to launch tokens, provide liquidity, and participate in the ecosystem seamlessly. It fosters innovation, as any project can integrate liquidity mechanisms, and decentralization, as no central entity controls the process.

How can you add a liquidity pool on MIRA permissionlessly?

1. Visit https://mira.ly/ and click on the "Liquidity" tab in the upper menu. OR open the link directly https://mira.ly/liquidity/.

2. Connect your wallet. Currently, Fuel has three native wallets and supports both ETH and Solana Wallets.

3. Click on the "Create a pool" button in the upper right corner of the liquidity pools window.

4. Choose a type of pool you'd love to create. Click on "Stable" for stablecoin pairs (eg., $USDT and $USDC) or an asset and its wrapped version (eg. $ETH and $rstETH). Otherwise, choose "Volatile". Note that you won't be able to change it afterward.

5. Next, you need to choose assets that you want to add to the pool. You need to have both these assets on your wallet balance to create a pool with them. To do it, click on the arrow next to the empty field - and choose an asset from the dropdown list. If the needed asset is not available on the list, fill in the asset ID. You can find asset IDs on Fuel Network here.

6. Now you need to set up an exchange rate for the chosen tokens: fill in the amount of the asset X you think is reasonable to exchange for the asset Y. Note, that the pool ratio on MIRA is always 50/50. When you create a pool, the stated amounts of both tokens will be withdrawn from your balance.

7. Click the "Preview creation" button below to proceed.

8. Preview the transaction. If everything is correct, click the "Create pool" button below.

9. Your wallet will pop up. Carefully check the transaction details and approve the transaction in your wallet.

10. Congrats! You've created your first pool on Fuel.

After you create a pool, you can go back to the liquidity page to see it in the list of your liquidity positions and the list of pools below. The tokens that you added to the pools, can now also be swapped on MIRA! You can check it on the swap page: https://mira.ly/swap/

Final Note

Permissionless pools make MIRA more flexible and decentralized - and our UI makes it easy for you to become an LP on Fuel!

If you have any questions, please contact the MIRA team on Discord. For faster assistance with tech issues, please contact us directly at our official email: hi@mira.ly.