Guide to trading MDEX – The pioneer DEX on Huobi ECO Chain

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2021-10-07 06:26:14

Not from the expectations of traders in the Vietnamese and international communities, CHK Wallet quickly integrated MDEX – A pioneering AMM exchange on the HECO Chain platform from the very beginning to support you to grasp the opportunity. chance to catch the wave for upcoming DeFi trends.

MDEX is a decentralized exchange (DEX) using AMM mechanism based on the idea of ​​a fund pool that allows brothers to swap tokens operating on HECO Chain and BSC.

From CHK Mobile Wallet version 10.3, you can directly swap MDEX (both BSC and HECO Chain versions) on CHK Wallet without having to access the app with cumbersome wallet connection operations and search. Earning coins/tokens takes a lot of time.

It will only take a few minutes to learn, you will easily manipulate MDEX transactions right on CHK Wallet. Let’s get started!

What to prepare for MDEX betting?

Download and install CHK Mobile Wallet

Currently MDEX is available on CHK Mobile Wallet for Android and iOS.

Read instructions Install CHK Wallet Details or watch the video tutorial below:

Create HECO Chain (HT, HRC20) and Binance Smart Chain (BNB, BEP20) wallets

After downloading CHK Wallet, create a new HECO Chain or Binance Smart Chain wallet or import an existing wallet on other wallets into CHK Wallet.

Playing any chain that stores coins in that chain wallet, such as playing Uniswap needs an ERC-20 wallet, PancakeSwap needs a BEP20 wallet, then playing MDEX you must definitely transfer it to a wallet with a chain format HRC20 or BEP20 to proceed with the transfer step. next translation.

In case you accidentally transfer money to your TRC20, ERC20, SPL wallet, don’t worry CHK Wallet has support cross-chain bridge to convert your tokens to BEP20 right in the app instead of transferring it back to Binance and then withdrawing BEP20 tokens to your wallet.

Prepare HT, BNB as gas fee

HECO Chain uses HT- HRC20 or BNB – BEP20 as a gas fee, so you are required to have these 2 native tokens to be able to perform buy-sell, swap tokens of this blockchain.

You can buy BNB, HT stay on exchanges like Binance, FTX, Huobi, … and then transfer to the wallet to be able to experience the product. So everything is ready, let’s start the real battle.

Instructions to swap MDEX on HECO Chain directly on CHK Wallet

Step 1: At the main screen of CHK Wallet, choose Swap

Step 2: Choose MDEX to trade.

Step 3: From version X of CHK Wallet, you will be provided with 2 options when clicking on the Setting icon in the upper right corner interface of the screen: Basic interface (1) and advanced interface (2).

Continue, you need to fill in some information to make a transaction:

  • Select the Token you want to trade from the list of tokens: this example will illustrate the trading pair HT with MDX. If you want to Swap other tokens, just select the corresponding Tokens.
  • For new tokens that have not been listed on CHK Mobile Wallet, you can paste the Contract and trade as usual.

Step 4:

Read the transaction information carefully:

  • Rate & Inverse rate: Price ratio of 2 types of token swap
  • Price impact: Estimated % difference in swap price compared to display price
  • Liquidity Provider Fee: the amount of HT will be used to pay fees to the liquidity providers.
  • Gwei bar: The feature allows users to adjust the amount of Gas (transaction fees) to suit their needs.
  • Share URL: Share trading pairs via url.

Adjust the drag bar the amount you want to trade. Choose Swap to complete.

Note: You can adjust gas and slippage (slippage) according to your needs by clicking on the icon in the upper right corner of the screen.

  • Gas fee on CHK Wallet has been optimized for users to make fast transactions with the most reasonable cost.
  • Inflation is one of the common causes of swap failures. You can trade with the default slippage rate on the wallet (2%), or customize it higher to ensure the highest success rate.
  • Slippage Tolerance: One of the most common reasons for swap failures is slippage. You can trade with the default slippage on the wallet (1%), or customize it higher to ensure the highest success rate.
  • Transaction Deadline (Transaction deadline): is the maximum time for a transaction to be processed, avoiding the case of waiting too long but the transaction is still not executed.
  • Unlimited Approval (Unlimited Browsing): is a feature that allows the platform, smart contract to fully handle the amount of a token contained in the user’s wallet with a maximum limit. You can deselect.
  • Default Pair: default token for each trading pair
  • Operation Approve Just do it for the first transaction, in the following transactions you just need to click Swap.
  • The arrow in the middle has the function of changing buy and sell positions, you need to pay attention to check carefully to not place the wrong order.

After the Swap is successful, you can return to the main screen to check the traded tokens or check right at Trade History in the transaction interface.

Instructions to swap MDEX on BSC directly at CHK Wallet

Step 1: At the main screen of CHK Wallet, choose Swap

Step 2: Choose MDEX (Binance Smart Chain) to trade

Step 3: From version X of CHK Wallet, you will be provided with 2 options when clicking on the Setting icon in the upper right corner interface of the screen: Basic interface (1) and advanced interface (2).

Continue, you need to fill in some information to make a transaction:

  • Select the Token you want to trade from the list: this example will illustrate the trading pair BNB with MDX. If you want to Swap other tokens, just select the corresponding Tokens.
  • For new tokens that have not been listed on CHK Mobile Wallet, you can paste the Contract and trade as usual.

Step 4: Read the transaction information carefully:

  • Rate & Inverse rate: Price ratio of 2 types of token swap
  • Price impact: Estimated % difference in swap price compared to display price
  • Liquidity Provider Fee: The amount of BNB will be used to pay fees to the liquidity providers.
  • Gwei bar: The feature allows users to adjust the amount of Gas (transaction fees) to suit their needs.
  • Share URL: Share trading pairs via url.

Adjust the drag bar the amount you want to trade. Review transaction information again. Choose Swap to complete.

Note: You can adjust slippage and other factors according to your needs by clicking on the icon in the upper right corner of the screen.

  • Slippage Tolerance: One of the most common reasons for swap failures is slippage. You can trade with the default slippage on the wallet (1%), or customize it higher to ensure the highest success rate.
  • Transaction Deadline (Transaction deadline): is the maximum time for a transaction to be processed, avoiding the case of waiting too long but the transaction is still not executed.
  • Unlimited Approval (Unlimited Browsing): is a feature that allows the platform, smart contract to fully handle the amount of a token contained in the user’s wallet with a maximum limit. You can deselect.
  • Default Pair: default token for each trading pair
  • Gas fees on CHK Wallet have been optimized for users to make fast transactions with the most reasonable cost.
  • The arrow in the middle has the function of changing buy and sell positions, you need to pay attention to check carefully to not place the wrong order.

After the Swap is successful, you can return to the main screen to check the traded tokens or check right at Trade History in the transaction interface.

Why should you trade Mdex right on CHK Wallet?

For those who are new to DeFi or those who specialize in betting on DEXs, Swap on CHK Wallet brings undeniable benefits.

Simple, easy to use

With swap on CHK Wallet, you don’t need to search for trading pairs, connect wallets… to perform swap. The number of operations is simplified, and you also save a lot of time for transactions.

Actively adjust transaction fees

One of the outstanding advantages of swap on CHK Wallet is optimized gas fees and fast transactions. You feel free to “pull gas” with your hands, including successful transactions.

If you do not want to customize, you do not need to worry about using the gas level that CHK Wallet defaults to you. Because, this gas fee has been optimized, ensuring the cheapest and fastest transaction.

Can experience many other AMM/DEX

In CHK Wallet Version 10.3 you have access to many different AMMs and Bridges. Let’s wait with CHK for other planets to be integrated in the CHK universe in the near future!

Epilogue

Hopefully this article will help you to trade with MDEX right on CHK Wallet in the most convenient way. If in the process of using CHK Wallet there are still some problems that have not been removed, need immediate support, please message the official group of CHK Wallet: https://t.me/coin98_wallet_vn

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