The DX25 testnet has officially launched, and we’re excited to showcase some of our unique features to the MultiversX community. Although the testnet doesn’t offer all of the powerful new features we have planned, such as on-chain derivatives trading, it does show off our simplified UX, multiple fee levels for LPs, and more.
In this guide, we will give you a complete overview of how to access and use the DX25 testnet, trying out our exciting new platform in the process. Take a look below:
First of all, you need to create a MultiversX Wallet. Read in more detail here:
Step 1 — Connect Your Wallet To Access DX25
Now, having your own MultiverseX wallet means you can access the DX25 platform. Nothing complicated here, either. Watch how we do it!
1. Go to the official testnet project website: https://devnet.dx25.com/ (Please make sure there are no typos in the website address before connecting your wallet).
2. In the upper right corner, you will see the “Connect wallet” button. Click on it and choose one of the connection options offered. For example, if you created a MultiverseX wallet via browser extension, it will be easiest to choose this option.
3. Next, pass authorization to your MultiverseX wallet. The connection steps are the same as those described in the previous chapter of this blog.
4. Done! Now you can see the address of your MultiverseX wallet in the upper right corner, which means you can start working!
Step 2 — Fauceting Test Tokens
DX25 is currently in the Testnet phase, so real tokens can’t be traded yet. But don’t fret! You can get xEGLD test tokens for the testing period.
Acquiring Test Tokens (Choose one of the following options):
Option 1: MultiversX Devnet Faucet:
- Visit MultiversX Devnet Faucet
- Connect your wallet
- Claim the xEGLD test tokens by clicking on the “Faucet” button and following the instructions.
Here, you may take a look at the mini-guide describing fauceting on option 1:
Option 2: r3d4 Faucet:
- Visit r3d4 Faucet
- Select “Devnet”
- Enter your wallet address
- Click “Submit” to receive xEGLD test tokens
Step 3— Claim Faucet Tokens
1. Head to DX25 Testnet Minting: Here, you can claim more test tokens, such as USDT, WBTC, USDC, and WETH.
2. Select and Mint: Choose the token(s) you want, follow the on-screen instructions, and mint the tokens to your testnet wallet.
And there you have it! Your MultiversX Wallet is all set up, and you’ve got some tokens to play around with on the DX25 platform. Even though it’s in the Testnet phase, you can still explore and learn how everything works. Remember, practice makes perfect!
Step 4— Trade On DX25 By Swapping Your Tokens
Now that you’ve connected your wallet, you can trade on the DX25 testnet. First off, you need to click on the ‘Swap’ tab on the top of your screen, then use the token selector to pick which tokens you would like to swap your test EGLD for. Once again, all of these tokens are test tokens and carry no real-world value. The values shown for each token may not reflect their real-world equivalent’s value.
Step 5— Add/Create Liquidity Pool Positions
With DX25’s innovative concentrated liquidity offering, you, as a liquidity provider, can choose from multiple fee levels to optimize your returns. Here’s how you can take advantage of this feature:
- Go to the ‘Pool’ Tab: Click on ‘Add New Position.’
- Start Creating a Liquidity Position: Select the tokens you want to create a liquidity pool for, pick the price range, and choose the fee level that suits your comfort zone.
- Deposit Your Tokens: Confirm and deposit your tokens into the pool.
Once you’ve set up different positions, you can view all your open positions in the ‘My Positions’ section. This will provide an overview of your token pairs, fee levels, price ranges, fee rewards, and whether the pool is in or out of range.
Why These Steps Matter:
By engaging in these activities, you get a feel for how DX25 operates and explore some innovative features that make it stand out in the DeFi world. Even though it’s all on the testnet with no real-world stakes, this hands-on experience can be invaluable as you navigate the often complex landscape of decentralized finance.
Other Features
Besides all of the features outlined above, DX25 also offers an analytics page that gives you insight into all of the liquidity pools available on the platform. Under the ‘Analytics’ tab, you will be able to see ‘Pools’ and ‘Tokens’ with all of the juicy details available under each option.
The ‘Pools’ subsection shows all of the exchange pools created on the platform with token pairs, pool fees, total value locked, volume, and rewards generated over set periods of time.
The ‘Tokens’ subsection shows off a list of tokens available on the platform together with their prices, percentage price change, total value locked, and trading volume over set periods of time.
Troubleshooting
Since DX25 is still under development and going through the testnet phase, you may face some issues, bugs, problems, faults, errors, etc. We’re constantly working on optimizing every corner of the platform, so soon, there will be no such unpleasant things. However, for now, you should be prepared!
So, here are some of the common problems you may face while using the DX25 platform and the possible solutions:
The Faucet is not Working Problem
Sometimes, when you try to mint additional test tokens on the DX25 platform, you may see a popup window reporting an error. No tokens, no trading. What to do?
Solution: For Faucet to work, you must re-enter the platform using your MultiversX wallet. Click on your wallet address in the upper right corner. Then click on the “Disconnect” button. Now, follow the usual steps to connect your wallet to the platform and try using Faucet again.
Note: Please note that just-minted tokens will arrive in your wallet within a few minutes. Therefore, if you don’t see them immediately, it would be wise to wait a bit.
Insufficient Funds Error
At the time of liquidity provisioning or token swap, you may see an “insufficient funds” notification. Don’t worry, nothing is broken. This inscription means that you have chosen excessive tokens for the transaction, which are not available in your wallet.
Solution: Simply reduce the number of tokens used for the transaction or change the selected assets.
Note: For the duration of the testnet, the DX25 team does not pay attention to the volume of your transactions. The main thing is to try, feel, and understand all the nuances.
Unavailable “Harvest” Button
Often, we are told that the “Harvest” button in the Manage Your Liquidity Positions section is not available for use. What does this mean?
Solution: This is actually not a bug at all. The button not working means that your position has not yet received any rewards that you can collect into your wallet. So, just wait or open a new, more profitable position.
Provide Feedback On Your Experience Using The DX25 Testnet
You can provide feedback on your experience using the DX25 testnet by joining our Telegram or Discord channels and posting your feedback there. If you spot a bug, feel free to notify our team through these community channels.
About DX25
DX25 is a powerful new DEX built on the MultiversX blockchain ecosystem. The platform was developed by Tacans Labs, a Web3 venture builder with offices in Switzerland and Ukraine. The team of over 40 people includes a host of TradFi and DeFi veterans, with award-winning Danish entrepreneur Mathias Nielsen leading as CEO. He is joined by Ivan Ivashchenko as CTO, James Davies as CPO, and Marie Tatibouet as CMO.
