The Tinyman Definitive Guide
Learn how to navigate Tinyman like a pro!
Tinyman is a Decentralized Exchange (DEX) that uses the Automated Market Maker (AMM) model similar to Uniswap on Ethereum. It enables users to swap tokens and provide & farm liquidity.
Tinyman is the OG Algorand DEX and has the deepest LPs in the ecosystem due to their first-to-market advantage. With a focus on improving its UI & UX and supporting bridged assets, Tinyman is constantly upgrading. To earn extra rewards on Tinyman, you can farm your liquidity pool tokens (LPTs) in their staking program.
In the future, they plan to offer a token for protocol governance and gamification elements through NFTs.
Getting Started
To get started, navigate to Tinyman and connect your wallet using the button in the upper right-hand corner:
How to Swap
To begin swapping, navigate to the “Swap” tab and select the assets you’d like to trade.
Use the “Select a token, or paste the ID” button to select an asset you want to swap into, and select “Algorand” under the “From” field to select the asset you want to swap:
Gov Tip: If you can’t find the asset you’re looking for, it’s likely because you have the “Verified Only” filter selected.
Input the swap amount manually or use the “Max” buttons based on your preference:
Select “Swap” and “Confirm” before you finalize the transaction by signing it with your wallet.
Gov Tip: Use the arrows button to switch the “From” and “To” fields as needed, and you can use the drop-down menu to see your swap stats before executing it.
How to Provide, Remove, & Manage Liquidity
You can provide, remove, and manage liquidity from the “Pool" tab. Liquidity providers (LPers) earn trading fees on all swaps made in pools and a rewards boost from staking if a corresponding farm is available.
To provide liquidity, navigate to the “Pool” tab and use the LP list to choose a pool. When ready, select “ADD LIQ” to begin the process:
You have three swap options to select from:
Proportional: This is the default option of most AMMs, which means you need to contribute equal value of each asset to the pool.
Flexible: This option allows you to add any value of each asset
Single Asset: This option allows you to provide liquidity with only one of the assets.
Gov Tip: When you use the flexible and single asset options, assets will be swapped to protect the 50/50 pool ratio. Due to this, you will pay a swap fee when adding liquidity.
Once you select the assets you want to pool together and the method to pool them, enter the amounts of each asset that will be contributed to the LP or use the “Max” button:
Select “Add Liquidity” and finalize the transaction by selecting “Confirm”.
You can review, remove, or modify liquidity, on the Pool tab. This tab keeps track of your positions while allowing you to modify your positions as needed.
To modify your liquidity, select “Your Positions” and then “Manage”:
This page provides stats on your current position and enables you to add or remove liquidity using the corresponding buttons at the top of the page.
Select “Remove” to begin the liquidity removal process. Input the amount manually or using the sliding scale and select “Remove Liquidity”.
Gov Tip: You can remove your position with the proportional or single asset options. If you choose the latter, you will need to pay swpa fees.
Select “Confirm Removal” and sign the transaction with your wallet to confirm the action.
How to Farm
The "Farm" tab within the Pools menu includes options to increase your yield through staking and farming LPTs
To get started, navigate to the Farm tab and select a farm to stake your LPTs within:
Gov Tip: The farms you’re eligible for will be marked with an orange dot on the upper right-hand corner of the “Stake” button.
The next screen will have stats on the farm including APRs, total participants, start and end dates, and more information on the rewards program itself.
When you’re ready to stake your LPTs, select “Stake to Earn Rewards”, input the amount you want to stake, select “Confirm Farm”, and sign the transaction with your wallet to finalize the action:
This page provides stats on your current farm and enables you to add or remove LPTs using the corresponding buttons at the bottom of the page:
To remove your liquidity, select “Unstake” and input the amount you want to unstake from the farm. Select “Confirm Unstake” and finalize the transaction by signing it with your wallet.
Gov Tip: To completely remove your position, you’ll need to remove your liquidity from the pool itself and not just the farm.
Miscellaneous
Tinyman provides users with direct links to Wormhole, Algomint, and pNetwork to bridge assets. To start this process, hover over the “Bridge” tab and select a bridge:
Tinyman offers a wide range of stats on their “Analytics” tab, including the top pools, tokens, and transactions:
You can purchase ALGO directly from Tinyman through Moonpay at the top of the screen by selecting your wallet and choosing “Add Funds Via Moonpay” from the drop-down menu:
Input the amount of ALGO you want to purchase and select the “Continue” button. Input your payment information to finalize this process.
Gov Tip: Learn more about Moonpay here.
Select the three lines icon to review Tinyman’s official documentation, FAQs, and social handles. Adjust your slippage tolerance by selecting the gear icon:
And adjust the interface (including enabling dark mode) by selecting the highlighted icon.
Hide or unhide unverified assets by selecting the highlighted icons:
Review your account by selecting your wallet in the upper right-hand corner to review your assets, LPTs, and recent transactions – as well as to disconnect from the dApp.
Select “Account” to continue to the account overview page which includes information on your assets, pool positions on Tinyman, your transaction history, and the ability to opt your wallet out of Tinyman:
And that’s it, gov! You’re now a Tinyman pro.
We recommend you start with their official documentation if you want more information on how to use the protocol.
Disclaimer: This isn’t financial advice! As we say in crypto, don’t trust – VERIFY! Do your own research to determine if Tinyman is right for you and don’t ever invest more than you’re willing to lose.
Like any DeFi project, Tinyman comes with risks:
Smart contract failure: Despite undergoing a full audit and rigorous internal quality assurance, there is a chance of smart contract failure.
Oracle Risk: There is the risk that the oracles used by Tinyman provide incorrect or stale data.
Slippage: Slippage occurs when a trade settles for an average price that is different than what was initially requested, and it often happens when there's not enough liquidity to complete your order or the market is volatile. This leads to the final order price changing.
Impermanent Loss: When you provide liquidity to a LP and the price of your deposited assets changes compared to when you deposited them, you can experience impermanent loss. The LP is programmed to maintain a constant value between two tokens, so arbitrage traders will use the pool to swap the two tokens until the necessary constant value is achieved.