Guides

Provide liquidity

How to add liquidity to an ODIN pool, what you earn, and the two things that can go wrong.

Adding liquidity to an ODIN pool works exactly as it does anywhere on Uniswap V2.

Your liquidity is not locked. ODIN's is.

The permanence in these docs applies to the originally locked LP tokens, which were burned. Liquidity you add is yours — a normal LP token, withdrawable whenever you like.

Both directions matter: you are not signing up for a lockup, and your position doesn't inherit the guarantee that makes the locked position special.

What you're actually doing#

You are renting depth to the network, and the fees are the rent. You supply inventory the network borrows to absorb trades; the busier it gets, the more rent you collect. Not a yield product, not a staking reward, not a promise from anyone.

The rent is variable and volume-dependent. On a quiet week it's close to nothing.

The steps#

  1. Pick a pair#

    You'll supply equal value of ODIN and the paired asset. Depth, activity, and the counter-asset's behaviour differ substantially across the sixteen. Pool details.

  2. Go to Uniswap V2#

    Use Uniswap's interface or any interface supporting V2 pools. Make sure you're on V2 — V3 positions in ODIN pairs exist but are not part of the locked sixteen.

  3. Approve and deposit#

    Approve both tokens, deposit, receive LP tokens for your share.

  4. Hold the LP tokens#

    They accrue fees automatically — no claim step, no harvest. To exit, burn the LP tokens back to the pool.

What you earn#

Your share of the swap fee on every trade through that pool.

Traders pay 0.30%, all of which enters the pool's reserves. Since Uniswap's UNIfication took effect in late December 2025, one-sixth of reserve growth is taken back as LP tokens minted to Uniswap — dilution of your share, not a smaller fee.

Practical planning figure: 0.25%. Use 0.30% only when deriving trading volume from reserve growth. Full detail.

Any rate you see quoted anywhere is variable. Fee income is entirely a function of volume. Every APY on odinOS or anywhere else is a measurement of a past window, stated with that window attached — never offered, projected, or fixed.

The two risks#

Impermanent loss

Standard to all AMM liquidity provision. When the two assets diverge in price, you end up holding more of the one that fell — and the fees may or may not exceed that gap.

ODIN's pairs vary a lot in correlation, so exposure differs by pair. ODIN and TSUKA, for instance, are coupled by mutual supply ownership in a way that mutes divergence — but does not eliminate it.

Counter-asset risk

You hold the paired asset too. If it falls, that's your position falling, and nothing about ODIN protects you. The sixteen assets are genuinely different — their risks aren't one category.

A note on V3 and V4#

Uniswap V3 and V4 positions in ODIN pairs exist, and you can create one.

They carry none of the guarantees on this site. Not part of the locked sixteen, not counted in any locked-liquidity figure, and they behave differently — concentrated liquidity needs active management and can go fully out of range. Not better or worse; a different instrument. The permanence here is specifically about the sixteen burned V2 positions.

The permanent bid — what the locked position does · Stake on Peapods — the other side of the network