And what is the fuss around CarbonSwap ?
A new DEX is slowly gaining traction, and it’s built on the Energy Web Chain. It offers fast transactions that are, well….. “almost” free. (See below)
Their governance token is called $SUSU, and there’s currently an ongoing incentive to bring more liquidity to the DEX by rewarding farmers with 40 SUSU tokens per block (~5 sec), distributed proportionally between the farming pools. After the 30 day “early birds” program, rewards will drop to 6.5 SUSU per block, and continue for up to 2 years.
For those who want to learn more, I suggest to read this.
How to get started on the Energy Web Chain.
First, understand that Energy Web Token ($EWT) is used on the chain for gas, so you will need some to get going on the DEX.
Note: Do not confuse with $EWTB token, which can be found on Uniswap. $EWTB is the bridged version and needs to be bridged back to the native chain to be usable on CarbonSwap. More on this later.
The native $EWT token can be purchased on Kukoin or Kraken for example, and be sent to your Metamask (To which we need to add Custom RCP chain).
First open your Metamask, click on the Etherum Mainnet menu, and select Custom RPC at the bottom of the list. Fill the form with the data below.
You have now added the EWC chain to your Metamask wallet, and you can easily toggle between networks. You can send your $EWT from the exchange to your wallet, and the address is the same as the ETH network.
For those who have $EWTB (purchased on Uniswap for example), you will need to bridge it back using the POA bridge here.
Note: Some reports of error page popping up are currently happening. If you experience this, I suggest closing it. If you have trouble with the bridge, try refreshing the page. It’s possible that high traffic could slow the usage of the bridge as new users rush to bridge their tokens over.
How to bridge other assets
We used the POA bridge for the EWTB to EWT token, but if you want to bring other assets to the DEX, you’ll need to use OmniBridge. https://bridge.carbonswap.exchange/bridge
Once again making sure you are connected to ETH Mainnet, select your token from the left-hand menu and insert the amount you want to bridge. You’ll have to approve 2 transactions, first for the unlock, and then for the transfer. Once the transaction is completed, you should have your asset wrapped on the Energy Web Chain and you should be able to trade them on CarbonSwap !
Note: If you want to bridge the tokens back, you’ll have to connect to the bridge while your Metamask is set on the EWC to flip the bridge way.
…is a clone of Uniswap, so if you are used to it, the only thing that might confuse you is the ultra-low fees and the lightning speed transactions.
If you want to farm $SUSU, you’ll first need to supply 2 assets in a 50/50 ratio, to one of the pool that is showed in the Catch! page.
Going to the pool page, you can select the 2 assets you want to provide liquidity for. Insert the amount of asset you want to supply to the pool. Remember to keep some EWT for gas (1 EWT should last you forever).
Once the transaction is completed, you have now supplied liquidity to the pool, and received CLP token that keep track of your share in the pool. You can then use those CLP token to farm $SUSU on the Catch! page.
Once this is done, you’ll see the pool you are farming on the top of the catch page. You can also see you share of the pool, and the expected daily SUSU to harvest. Keep in mind these number will vary with people moving in and out of the pool, so don’t be surprised if your expected harvest isn’t the same every time you check back.
Finally, to harvest your rewards, all you have to do is select your pool, and click “Harvest”, and the Metamask transaction will pop-up. There’s not limit as to how long you may want to accumulate before withdrawing. With virtually no fees for transactions, it’s even possible to harvest every few minutes for those who want to compound their rewards into the pool.