Hello Follow Coin community members,
The time is here, Follow Coin can be traded on an exchange! After a lockdown of 21 days Follow Coin is available on an exchange, namely EtherDelta. On EtherDelta you are able to trade with your FLLW tokens and purchase them if you were too late to join our ICO. Ether Delta won’t be our only exchange, we are currently working on being listed on more exchanges.
If you do not have an ERC20 wallet yet, you can create one with the following instructions: https://followcoin.io/support/myetherwallet-instructions.pdf
To view or transfer your purchased FLLW, first open the MyEtherWallet you used to purchase the tokens. At the right hand side you will see “Token Balances “. Click “Show tokens” to get a list of all tokens currently listed on MyEtherWallet. If FLLW is not listed press “Add custom token” and enter the following values:
- Address: 0xA25D01d15fC0e3cDeDE1BEbEE4124394aaE0DB33
- Token symbol: FLLW
- Decimals: 18
How can I find Follow Coin on EtherDelta?
To visit Ether(Fork)Delta go to https://etherdelta.com/#FLLW-ETH. On this page you can view the current price of the FLLW tokens, the buy and sell orders and you can of course place your own orders.
In addition to this article we also made an educational video, explaining how to use Etherdelta. You can check that here:
You can start trading on EtherDelta by importing your ERC20 wallet or Ledger Nano S into the EtherDelta trading engine. Click on “Select account” in the top-right of the site. Import your wallet by clicking on “Import account”. You have to fill in your Public Address and Private Key here, this can be found in your own wallet(see the document above for information about Public addresses and Private Keys). Once you imported your wallet, your balances will show up on the left-side of the page.
- By now you should have an account selected in the account dropdown (upper right).
- In the account dropdown (upper right), next to your account address is your wallet balance.
- Now that you have some FLLW in your wallet, you need to deposit from your wallet to the EtherDelta smart contract so that you can start trading.
- In the upper left, there is a Balance panel. There are three columns, “Token,” “Wallet,” and “EtherDelta.” The first column, “Token,” will have a row for the token you’re looking at and a row for ETH. The “Wallet” column shows the balance held in the account you have selected in the account dropdown. Notice that the balance shown in the row under “Wallet” matches the balance shown in the account dropdown.
- When you deposit, you will move funds from your “Wallet” to the EtherDelta exchange smart contract. To do this, enter the amount you want to deposit and press “Deposit.” Don’t deposit all of your ETH though. You need to leave some behind in your “Wallet” to cover gas fees. A good rule of thumb is to leave 0.05 ETH in your “Wallet” to cover gas fees for future transactions you will do (trading, depositing, withdrawing).
- After you press the “Deposit” button, if you’re using MetaMask you’ll have a transaction to approve. You can reduce the gas price from the default (~21 gwei) to 4 gwei if you’re willing to wait longer for your transaction to confirm but pay a lower fee. If you’re not using MetaMask, you can set the gas price from the “Gas price” item in the account dropdown. It’s recommended to set the Gas Price to 50 gwei (upper right).
- NOTE: If you are depositing a token (not ETH), depositing will involve two back-to-back transactions. The first one approves the EtherDelta smart contract to transfer the deposit on your behalf. The second one is the actual deposit. You must approve both.
- After your transaction has been sent, EtherDelta will tell you that you generated a transaction. You can click the link to track your transaction on Etherscan.
- Once your transaction confirms, you should see funds move from the “Wallet” column to the “EtherDelta” column.
How to trade
This guide assumes you already have a working account and you have deposited to EtherDelta. This means you should have a balance in the “EtherDelta” column. You should also have some ETH in the “Wallet” column to pay for gas fees when you trade.
- Most tokens are listed in terms of ETH. For example, a price of 0.0007 FLLW/ETH means 1 FLLW costs 0.00007 ETH.
- In the order book, there are green orders and red orders stacked on top of each other. Green orders are people who want to buy FLLW. Red orders are people who want to sell FLLW. If you want to buy FLLW, you can click a red order. If you want to sell FLLW, you can click a green order.
- EtherDelta only allows you to match against one order per transaction. You can’t do a “market buy” that trades against multiple orders at once.
- Partial fills are allowed. For example, if there is an order to sell 100 FLLW, you can click the order and choose to only trade 25 FLLW, leaving 75 FLLW behind for someone else to trade.
- When you do a trade, a transaction will be generated.
- If two people try to trade the same order at once, the first transaction to be confirmed will get the trade (unless both orders are partial fills).
- A failed trade will show up as an error on Etherscan. No funds will be lost except the gas fee for the transaction.
How to place an order
- If you don’t want to trade immediately or don’t like the prices you see in the order book, you can place your own order.
- An order doesn’t involve a transaction. It involves signing a message. This means there is no gas fee for placing an order.
- On the order form, select the Buy tab or the Sell tab depending on whether you want to buy or sell the token.
- Let’s assume you want to buy FLLW.
- The first box is the amount of FLLW you want to buy.
- The second box is the FLLW/ETH price.
- The third box is the amount of ETH you will spend. This box will populate automatically so you can confirm that the price you entered makes sense.
- The fourth box is the number of Ethereum blocks until your order automatically expires. The default, 10,000, is about two days. If you want your order to last forever, enter 1000000000, which corresponds to about 400 years.
- After you submit the order, you should see two small green bubbles pop up in the lower right. The first one will say “You sent an order.” The second one will say “Your order was received.”
- After your order was received, it can take about a minute for the order to appear in the order book.
- Your order will be highlighted in blue so you can easily spot it.
- The order book only displays the top 100 buy and sell orders. If your order is not in the top 100, it will not be displayed, but it will appear if enough orders trade.
- EtherDelta does not do order matching. For example, if someone is offering FLLW for sale at a price of 0.03, and you place an order to buy for a price of 0.04, a trade will not automatically happen. The only way to make a trade happen is to click an order and trade it.
- Your balance will not change when you place an order. Your balance will only change when your order trades.
- EtherDelta checks to make sure each order is backed by an appropriate deposit, but it does not check to make sure the sum of each user’s orders is backed by a deposit. If, when an order trades, it means other orders are no longer backed by an appropriate deposit, then those orders will disappear from the order book until more funds are added.
- The Withdraw tab is the opposite of the Deposit tab. It will move funds from the “EtherDelta” column back to the “Wallet” column.
- Remember that in order to withdraw, you need to pay a gas fee, and the gas fee comes from your “Wallet.”
If you have any questions along the way, please reach out to us on our live chat on https://followcoin.io.
The Follow Coin team is very excited for the journey ahead!!
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Thomas van der Bijl
CEO of Follow Coin