Introduction
Mute is a decentralized finance (DeFi) platform based on zkRollup technology. It’s dedicated to providing liquidity incentives for zkSync projects. Mute's core product, Mute.Switch is deployed on the zkSync network. It features a DEX (decentralized exchange), liquidity pool, decentralized autonomous organization (DAO), bridge, wallet, and more.
zkRollup is a layer-2 scaling solution that improves throughput and performance on the Ethereum blockchain by moving computation and state storage off-chain to process multiple transactions in a bundle and broadcasts them as a single transaction on-chain.Mute utilizes zkRollup technology and integrates with the zkSync network to provide sufficient liquidity incentives for projects. If you want to learn more about Mute, please click here.
Step-by-Step Guide for Using Mute on zkSync
Preparation
- Open your ETH wallet, click on "Ethereum" at the top of the page, and select "zkSync Era" in the pop-up window to switch your ETH wallet from the Ethereum network to zkSync Era.
- Ensure you have adequate ETH in your zkSync Era wallet to use as gas fee for subsequent transactions. You can deposit ETH to your zkSync Era wallet through the official cross-chain and third-party cross-chain bridges. Please refer to the tutorial "How to use zkSync Era with imToken" for specific deposit operations.
Accessing Mute
1. Click Ecology Apps,” then scroll down the page to find “Mute,” and click to enter.
2. On the Mute page, click”Enter app” to access the Mute.Switch interface. The system will prompt you to confirm authorizing Mute to access your wallet address. Click “Confirm” to authorize Mute to access your wallet and complete the DApp connection.
Currency Swap
1. In the Mute.Switch interface, select the name of the currency you want to swap and enter your desired amount. Click “Swap” and then “Next”. Enter your wallet password to confirm the transaction in the pop-up window. Wait until you see the "Swap confirmed!" message indicating that the transaction has been successfully completed.
Note: If you are exchanging ERC20 tokens for the first time, you must complete the token transfer authorization first.
2. Return to the wallet homepage to view your tokens.
Liquidity Mining
Participating in liquidity mining allows you to receive transaction fee incentives. However, you should consider the risk of impermanent loss (when the value of your tokens changes compared to when you deposited them in the pool) before participating in liquidity mining.
Adding Liquidity
1. In the Mute Switch interface, click the hamburger icon in the upper right corner to expand the menu. Select “Pool” and click “Add Liquidity.” In the pop-up window, select the swapping pair to which you want to add liquidity and click “Manage.” (In the illustration below, we have used the ETH/USDC pair to provide liquidity.)
2. Enter the amount of tokens you wish to add, click “Approve,” and then “Next.” In the pop-up window, enter your wallet password to approve the transaction. After confirming the payment details, complete the wallet signature again. When the "Successful!" message pops up, you have successfully added liquidity.
Note: Liquidity provision comes with its own fair share of risks, including impermanent loss and smart contract risks. Therefore, set the authorization amount based on your risk tolerance level!
3. Return to the wallet homepage and click “DeFi” to view token details.
Removing Liquidity
1. In the Mute.Switch interface, click the hamburger icon in the upper right corner to expand the menu and select “Pool.” Find the liquidity pool you have added liquidity to and click “Manage.” In the “Withdraw” interface, enter the amount of liquidity you want to remove, then click “Approve.”
2. After completing the token authorization and wallet signature steps, wait for the "Successful!" message to appear, indicating successful liquidity removal.
Final Remarks
imKey is a professional hardware wallet incubated by imToken. It is deeply integrated with imToken and supports Layer 2 ecosystems. If you have higher wallet security requirements or need to manage large amounts of tokens, we recommend using the imKey wallet. It provides excellent security and a convenient user experience.
Risk Disclaimer: This article is for reference purposes only and does not constitute any investment advice or recommendation. imToken does not guarantee or commit to the third-party services and products mentioned in this article and does not assume any responsibility. Digital asset investment carries risks. Please carefully evaluate the investment risks before making any decision and consult with relevant professionals. You are solely responsible for your investment decisions!.