A guide to supplying SODA and xSODA as liquidity on SODAX Pool to earn rewards.
💡 You will need both SODA and xSODA to provide liquidity. The SODA/xSODA pool requires a 50/50 split by SODA value. If you do not yet have xSODA, you can stake your SODA on SODAX Stake to receive it. See "How do I stake SODA on SODAX Stake?" for a walkthrough.
SODAX Pool allows you to supply SODA and xSODA as liquidity to the SODA/xSODA pool. In return, you may earn rewards as a liquidity provider (LP). Because SODAX Pool uses concentrated liquidity, you will select a price range over which your assets are active, rather than providing liquidity across all possible prices.
Video Guide
What to Expect
Price Range Selection: You will need to choose a price range for your liquidity. If you are unfamiliar with concentrated liquidity, we recommend selecting a wide range. For more on this, see "Why do I need to select a range for my liquidity?"
Active vs Inactive Liquidity: If the actual trading price moves outside your selected range, your liquidity will no longer be active and you will stop earning rewards.
50/50 Split: You must supply SODA and xSODA in equal value, split 50/50 by SODA value.
⚠️ Tighter ranges require more management. While narrower price ranges can earn higher rewards, they also require more regular monitoring to ensure the market price stays within your range. Broader ranges are better suited for a more passive approach.
Step-by-Step Guide to Provide Liquidity on SODAX Pool
💡 Make sure you have gas before providing liquidity. To be able to LP your SODA on a network, you will need to have a small amount of that network’s “gas token” to pay for the transaction (eg. S token on the Sonic Network).
Open SODAX Pool.
Head to sodax.com and click 'Launch Apps' in the top-right.
Ensure that 'Pool' is selected on the left-hand menu.
Connect your wallet(s) for networks you hold SODA and xSODA on.
For a detailed guide on how to connect wallets, head to "How do I connect to SODAX?"
Select your network.
Click the down chevron next to "SODA/xSODA" and select the network you hold SODA and xSODA on.
Select your price range.
Using the sliding bars on the graph, or the min/max range fields below, choose the price range you want to provide liquidity over.
For those unfamiliar with concentrated liquidity, we recommend a wide range. If the actual price leaves your range, your liquidity will no longer be active. We recommend starting with a wider range.
Review and continue.
Once you are happy with your selected range, click "Continue".
Confirm the details.
Check the additional information on the modal that appears. When you are sure you want to provide liquidity, click "Continue" again.
Approve the supply.
Double check the asset amounts and range you have selected, then click "Approve" and authorize the transaction in your wallet application.
Then click “Transfer” and authorize the transaction in your wallet application.
Supply your liquidity.
Click "Supply", authorize the transaction in your wallet, and your liquidity will be provided to the pool.
Once “Supplied” is shown on screen, your liquidity is deposited and will begin earning rewards.
You will now see your liquidity position on the SODAX Pool page and can manage it to claim fees, add more liquidity, or withdraw it.
Need Help?
If you have any further questions about providing liquidity or need assistance, visit our Support Center for more articles and resources, or contact our support team via the button in the bottom right.