Hark ye, weary degen. Sit. Raise a glass. It’s time to share our guide on all things Scribe.
What is Scribe?
Scribe is an innovative, community-driven decentralized exchange (DEX) built on the Scroll Network. Our mission is to provide a highly efficient and customizable trading platform that supports sustainable liquidity and growth for new and existing protocols. Leveraging the advanced capabilities of Scroll, Scribe aims to deliver a seamless and secure trading experience.
TL;DR - Our goal is to become the premiere DEX on the only L2 that truly scales for Ethereum; Scroll.
Rewarding You
To cut to the chase; we can’t build the greatest DEX on Scroll without, well, you.
That’s why Scribe intends to reward you for every cent of liquidity you provide, every gwei of ETH you swap.
Before you ask; yes, there’ll be a token.
And yes; there are points.
Points are earned for providing liquidity into verified pools and swapping tokens (no wash trading though, tut tut). Check out the Leaderboard and your position here.
In addition to the future airdrop, Scribe will continue to build partnerships with industry-leading projects that bring rewards directly to you.
As of the time of publication, Scribe is offering boosted points on select pools - there’s never been a better time to provide liquidity.
AND there’s more; whether you’re farming the Scroll airdrop or not, you’ll be earning Scroll Marks from their session campaigns simply for bridging to Scroll and utilizing Scribe.
Marks = airdrop? 👀
Your Guide to Scribe
Today, in our early stages, there are two core features of Scribe that are prevalent to any traditional DEX in Web3; swapping tokens and providing liquidity.
Both experiences are friction-free, fast, and cheap, given the scalability of Scroll.
Swapping Tokens
If you’re a Web3 veteran, you definitely don’t need to read this. For those just starting, find out how easy it is to swap tokens on Scribe.
Head to the Swap section of Scribe.
Select the tokens you want to swap from the dropdown and enter the amount.
For anything other than ETH, you’ll need to first “approve” the token. Just hit “approve” and sign the transaction in your wallet, then hit “swap” and do the same.
You’ll need a small amount (< $0.10) of ETH to conduct a transaction on Scroll.
Simple as that. Once the transaction is complete, you’ll see the tokens in your wallet and this transaction confirmation.
Providing Liquidity
Okay, this is where the real rewards come in. To provide liquidity and start earning LP fees and those sweet, sweet, Scribe points, head on over to the Liquidity section.
Enter the pair you want to provide liquidity for from the dropdown. Note, you’ll need an equal value of each token in order to provide liquidity.
Select the range - this is an advanced option that protects you from impermanent loss in scenarios where there is massive, sudden, price movements. For now, we’ll just use “Common”.
Enter the amount of liquidity you’d like to provide with one token, the other token will auto generate the amount (but you’ll need both!).
Hit the button, approve the transactions, and you’re done.
You can track your positions 24/7 on the Positions section as well as track the amount of fees you’ve earned.
Now, get to it, traveler. It’s time to earn Scribe points.
Future Features
This is just the beginning, the prologue if you will. Our roadmap consists of upgrades that are set to enhance usability, liquidity availability, and incentives.
To top it off, we’re set to implement a launchpad for the Scroll ecosystem. This will, of course, much like the rest of the Scribe ecosystem be fuelled by the Scribe token and governed by $SCRIBE holders.
Stay tuned for more, weary adventurers. Our journey has just begun.