On October 17, 2023, the DX25 platform officially entered the Mainnet stage. Users now have the ability to swap real tokens, earn from providing liquidity, and delve into the world of decentralized finance. But with cool features comes great responsibility, doesn’t it? So, let us escort you into the world of DX25 Mainnet step-by-step!
Step 1 — Connect MultiversX Wallet
To get started on the DX25 platform, you first need to attach your MultiversX wallet. Here’s how to do it:
Note: Here is a complete guide on creating and using the MultiversX wallet. Familiarize yourself with it first if you don’t already have one!
DX25 currently supports these wallets:
MultiversX DeFi wallet (Extension)
MultiversX Web wallet (Web)
xPortal (Mobile)
Ledger (Hardware)
1. Go to the official DX25 website at this link: https://app.dx25.com/ . Please make sure that the address bar corresponds to what is written here. Scammers are not dormant!
2. You will see a “Connect Wallet” button in the top right corner or in the “Swap” section. Click on it.
3. A dialogue box will subsequently appear, prompting you to pick your wallet platform. In this case, we’ll opt for “MultiversX Web wallet” as our example. After selecting, a separate browser tab will launch, guiding you through the service provider’s setup process. If you encounter any questions along the way, this Medium article has all the answers you’ll need:
4. In the upper right corner, the “Connect Wallet” button will be replaced by a scoreboard showing your EGLD balance and wallet address. If you see something similar, then the connection was successful. Congratulations!
Step 2 — Swapping Tokens
The main function of DX25, like all other DEXs, is to provide a stable, fast, and secure token exchange platform. So, let’s familiarize ourselves with this feature first. Click on the “Trade” tab at the top of the screen!
One of Mainnet’s innovations is Pro Mode for swapping tab with TradingView charts for more reasoned trading. You can switch between Standard and Advanced Swapping using the slider in the top right corner of the “Trade” tab:
Standard Swapping (Pro Mode Off)
Turning off the Pro Mode slider will open a regular token swap window where you can exchange cryptocurrency in just a couple of clicks!
Select the token you want to give away and the one you want to receive due to the exchange. We will try to swap 0.2 EGLD for the equivalent in USDC tokens. Given the current exchange rate, the built-in calculator will immediately show you how much cryptocurrency you will get.
You can select the slippage tolerance level by clicking on the sliders icon in the upper right corner of the swap window.
Slippage is the difference between the market price of the asset and how much you are paying for it. If the buying price of the tokens is significantly higher than the market price, then the slippage is on the higher side.
On DX25, you can either choose the default slippage tolerance level, as determined by the smart contract, or choose one of the three predetermined slippage tolerance levels (0.1%, 0.5%, 1%, and 2%).
You’ll notice a subtle downward-pointing arrow to the right of the estimated token exchange rate and directly above the vibrant “Confirm” button at the screen’s lower section. Click on this arrow to unveil some supplementary details:
- The fee you’ll be charged by Liquidity Providers for making the assets available for the swap;
- How your trade could affect the asset’s price;
- The minimum amount of the chosen tokens you can expect to receive is based on your selected slippage tolerance level;
- The maximum gas fee you may pay.
You’re now prepared to execute your first swap! Press the “Confirm” button, and a new browser tab will launch, displaying your MultivesX wallet app. To finalize the transaction, you’ll need to approve it and cover a nominal charge known as the Gas Fee. With EGLD, this fee is typically minimal, amounting to mere thousandths of a dollar.
Advanced Swapping (Pro Mode On)
Now, let’s turn on the Pro Mode slider and try to make a transaction like a real professional trader!
By turning on the slider, you will immediately see the TradingView chart showing the selected pair. On the DX25 platform, all TradingView functionality is available to you, including drawing tools, indicators, and custom chart settings. You can read more about TradingView functionality on their official website: https://www.tradingview.com/support/
You can also use the “Change Base Token” button to change the order in which the token pair is displayed, and the chart will adjust, changing tokens’ places with each other!
In Advanced Swapping, like in the normal trading window, you can select the desired tokens, their quantity, and Slippage Tolerance. All information about the transaction details is also available to you in a separate box in the lower right corner. Additionally, you may use the list in the top-left corner to choose other Liquidity Pools to trade in.
Step 3 — Providing Liquidity
One of the ways to make money on DX25 is by providing liquidity for pools. In simple words, you put some of your assets into a liquidity pool and allow other users to make exchanges using them. In return, you get a commission for each transaction made using your cryptocurrency. Win-to-win strategy!
With the release to Mainnet, the DX25 team has added many new features that should improve your user experience and change the way DEXs work forever. Let’s see how it’s implemented!
By selecting the “Liquidity” section at the top of the screen, you will see a window that displays all your liquidity positions. While they are not here yet, let’s open one! To do this, click on the “Add Liquidity” button.
In the new window, you will be able to customize your position:
- Select the pair of tokens you want to contribute to the pool;
- Customize the Concentration for using your liquidity;
- Select the desired fee level (from 0.01% to 1.28%);
- Specify the number of tokens you want to deposit;
- Read the transaction details.
DX25 will automatically adjust your new position to the most popular settings of other users, including Fee level and Concentration. All you have to do is enter the number of tokens you want to add to the Liquidity Pool and click the multi-colored “Confirm adding liquidity” button at the bottom right!
Customizing Your Liquidity Position
But, with the release of DX25 in Mainnet, we’ve added a lot of features that should make it easier to customize your Liquidity Positions and make them more suited to your mood. Let’s go through the innovations in order.
1. Token Ratio
Now, instead of selecting scripted Position Types, you can choose on your own what ratio of token A to token B will be added to your position. What are the options?
- 50:50. This is a standard ratio where you enter the number of A tokens yourself, and DX25 counts and tells you how many B tokens you need to put into your new Liquidity Position so that the value of token A and token B in $ is about the same.
- 100:0 and 0:100. This is analogous to Single-Sided Liquidity. By choosing this ratio, you tell DX25 that you want to add only one token of your choice.
- Custom Ratio. By selecting this function, you can independently customize the ratio of your tokens in the position. Let’s imagine that you want to add 1000 USDT and 333 USDC. Now it is possible! Just set Custom Ratio 1:0.33 and open your Liquidity Position! (Please note that the Custom Ratio feature will be added soon in the next DX25 updates)
But what about Full-Range Positions? Yeah, you’re right. Now, you need to use the Concentration feature to create it. Read further to know how to do it!
2. Concentration
The Concentration concept works slightly differently than you are used to seeing on derivatives trading platforms. In our case, you set the range of your Concentrated Liquidity, where x1 will expand you to a Full-Range Position, and x1000 will narrow your position limits to within a few ticks of the current Spot Price. It is worth mentioning that the Concentration feature works differently with different token ratios. For example, with a 0:100 ratio x1, Concentration means your position will spread out from the spot price to infinity/0 in one direction, and increasing Concentration will shorten your price bounds only from one side toward the spot price.
By adjusting the slider depending on your appetite, you can increase the efficiency of your position hundreds of times and receive many times more fees and bonus tokens from our Incentive Program.
What’s an Incentive Program? Check out this guide to know how to get up to 500% APR with your Liquidity Provision!
But keep in mind that a position that is too narrow has a good chance of becoming “Out-of-range”, and you will stop receiving both fees and bonus tokens and will have to create a new Liquidity Position. Thus, increasing your profit also increases your Impermanent Loss chance. Trade responsibly! 😉
Note: Please pay attention that using the Concentration feature doesn’t mean you will be liquidated or lose your funds! It’s all about Impermanent Loss and “Out-of-range” positions.
So, after setting up your position, you can click “Confirm Adding Liquidity”, and your MultiversX Wallet app will ask you to confirm the transaction in the standard way. Just follow the on-screen instructions, and you should be good to go!
Now, the window with your positions is not empty, and you can enjoy the view of your first liquidity! Let’s click on it and see what you can do inside.
Here, besides additional information, you may be interested in two buttons: “Close Position” and “Harvest Reward”. You should press the first one if you want to stop providing liquidity and withdraw your funds. The second one is responsible for collecting the profit received as a result of harvesting your funds.
Note: Please note that the “Harvest Reward” button may not work if your position has not collected any fees yet. Just wait or change your position to a more profitable one. Additionally, if you have some rewards to harvest and you want to close your position, you will automatically get rewards in your wallet.
Step 4 — Analysis
Under the Analytics tab, you can get all the information you need about current Liquidity Pools, Tokens, and the DX25 platform in general.
At the top of the page, you can see the current TVL and Trading Volume. platform DX25.
Below, you will find a table with all Liquidity Pools. Here, you will find their Spot Price, Pool Fee, TVL, Volume, Paid Fee Rewards, and a percentage of APR available through our Incentive Program.
You will see more detailed information about this pair of cryptocurrencies by clicking on the pool you are interested in. We have organized large amounts of information into concise charts for your convenience.
Also, in a new window, you can swap and add liquidity to the selected pool using the corresponding buttons in the upper right corner.
If you scroll down the page a bit, you will see how the liquidity in this pool is distributed among the different fee levels. This will help you make a more educated choice for opening your own position.
Well, that’s it! Now, you’re ready to set sail in the DX25 world. Don’t forget that we are always on call and ready to advise or help with any questions. Have fun trading!
About DX25
DX25 is a revolutionary decentralized exchange built on the MultiversX ecosystem. With features like single-sided liquidity, concentrated liquidity, and multiple fees, DX25 offers efficient trading and the potential for higher earnings. DX25 is committed to pushing the boundaries of decentralized finance and providing an innovative and secure trading platform for cryptocurrency enthusiasts.
