Moonba Testnet tutorial
In this tutorial, we will demonstrate how to use the MoonbaSwap Testnet functionality. MoonbaSwap is built on the OneLedger Frankenstein Testnet, thus, this video will guide you through setting up Metamask, setting up the OneLedger Frankenstein network, and adding test OLT and ETH tokens. The video then shows how to use the MoonbaSwap to Bridge, Swap tokens, and Add & Remove Liquidity.
So in order to use this, the first thing you have to do is to connect your wallet.
Following these guidelines, the OLT Testnet network will be created on your Metamask
**Remember: this is a Testnet network, don’t send your Mainnet OLT from exchanges.
To add liquidity to your wallet and participate in this pool you will need Testnet OLT tokens to run tests — you can add test tokens from the faucet :
Copy and paste your OLT Test wallet address from Metamask and the test tokens will be sent to your wallet address.
Our next step is to add test tokens to the Ropsten Test wallet. To do this we have several options — here we will give two of those options.
Enter your address and request the tokens.
The test tokens will be reflected in your Metamask accounts (Ropsten -ETH); (OneLedger Frankenstein- OLT).
Now we are ready to connect the Metamask account to MoonbaSwap. On the website https://www.moonba.co/ — select connect wallet in the top right corner.
Connect your wallet to MoonbaSwap.
Several wallet options appear — select the wallet of your choice. We have selected Metamask.
Once selected it will appear in the top right-hand corner. To toggle between wallets, do so on the Metamask site.
Wallets are connected — they each have test tokens. We are all set.
Using the Bridge to transfer tokens between wallets
Select Bridge -
Select wallet on Metamask (Frankenstein)
We are going to transfer FROM: Frankenstein TO: Ropsten
We select the amount to transfer — enter the amount
The system calculates the price plus deposit.
We confirm the deposit.
There is a 4 step process. Once done — the transfer is confirmed and you can see the movement on Metamask.
Select — Add liquidity — we select ETH +OLT -
Select the amount of ETH, the corresponding amount of OLT plus transaction fees are calculated. Add Liquidity — it goes through the confirmation process and the Liquidity is added.
The dashboard shows the values and confirms the LP tokens have been assigned.
It shows the OLT and T+ETH tokens in the pool and the % share of the pool that you now have.
On the Pool dashboard, select the down arrow next to the pair you intend to remove the Liquidity from.
The dashboard will expand — to show the Remove option — Select it
Use the sliding bar to select the amount to be removed by percentage in increments of 5%.
Select Remove and confirm the transaction.
Select Swap — Select Amount — after each Swap, we will receive a 0.25% commission. It depends on the input and output. Once the amount is specified it will automatically calculate the exact amount of the OLT and the minimum amount of ETH. If the price goes down, the transaction might fail. To mitigate this we have to adjust the slippage on the Dex settings.
This is simply swapping one token for another.
In this example, we select OLT on the upper limit (we select 100) — we are going to swap for USDT.
The system calculates the amount of USDT — plus transfer fees.
On the Slippage settings, we select a tolerance of (1)-10% — then move (0.5). See how the numbers change. Remember this is not recommended for large amounts as you will experience transaction failures.
Confirm the transaction and that is it.
Note on slippage:
Slippage is the difference between the price you expect to get on the swap you have ordered and the price you actually get when the order executes. Our slippage settings give you an opportunity to configure the price on the minimum and maximum yaw. The traffic and the amount of liquidity determine the percentage tolerance. The tolerance could go up or down — if there is more liquidity in the pool, then less slippage tolerance is required. 1%, is enough for this amount but if you’re trying to swap big amounts that will require more slippage tolerance. As the price changes the reserves in the liquidity pool will require this.