Let’s go MAD! Part II
We continue our journey into the world of MADness! Swap, Bridge, Savings and all without leaving the wallet window! Let’s go!
So, we have already download & installed MADWallet and sent the dust for transactions. Now let’s see what the wallet offers us. I propose to start with the “Receive” function. For those who have not yet understand how and where to look for the address of their wallet, to send funds to it, I showing:
You can see and copy your wallet address right at the top of the window, under the wallet name. Hover over it and click. The address will be copied to the clipboard. We can also click on the “Recieve” tab, it will open a menu with data, in the form of a convenient QR-code, for scanning with a mobile device. Another button for copying our “Copy Address” address and a button that will open our wallet address in the blockchain explorer (to see the detailed history of transactions).
Next, consider the inverse function — “Send”.
- Hover over the red airplane or the word “Send” and click on any of them.
- You will immediately see a window for entering the recipient’s address. You can paste the saved address from the clipboard, or use the camera to search for a QR-code with the recipient’s address.
- After entering the recipient’s address, you will be prompted to select the tokens you want to send and their quantity. Then click “Next” button.
- We will see the final window before sending. Here we must, once again, check the addresses (from where and where we are going to send funds), the type and amount of tokens, as well as the details of the transaction itself, which will indicate the estimated cost of gas spent on processing this transaction and the total “amount+gas fee”, in tokens and dollars. If everything is correct, click “Confirm”. If you see some error, click “Reject”.
So, the basic functions are over. Let’s move on to something interesting. Start with the “Swap” function! Yes yes, you read correctly — directly in your wallet, a whole market, with many offers, which allows you to choose the best deal price! At the same time, commission is only 0.5% — which is almost half as much as similar solutions from competitors.
From now on, there is no need to connect your wallet to a third-party service, give it permission to spend tokens, etc. After all, what this is fraught with, everyone has long known. Now we have the opportunity to trade tokens and exchange them directly in the wallet! No third-party services and fears. Fast, accurate, clear, in a couple of clicks. Your own DEX right in the app! Let’s try:
- Hover over the yellow arrows or the word “Swap” and click on any of them.
- The main window opens in front of you. In the first (upper) field, we must choose which token we want to exchange and then, a little to the right, indicate the required amount. In the second (bottom) field, we indicate which token we want to receive in return. A little lower, you can specify the slippage of the exchange of tokens, so as not to accidentally buy tokens at a different price. If the price changes a lot at the time of the exchange, then the transaction will not go through and the tokens will be returned back. The default is “up to 3%”. Click “Review swap”.
- Waiting for the quotes to be loaded and we see the last window before the start of the exchange. Here we are also shown how many seconds are left before reloading quotes. How many/what tokens we give away, and how many/what tokens we get. The system always uses the best quote it finds, however we can manually see what other quotes are available by clicking on the underlined “quotes”. Next, we are shown an approximate calculation of the gas that will be spent on our transaction. It’s exactly the same here — the system automatically selects the best option for you. But you can change the option manually by clicking on “edit”. There we will be able to choose one of the three queue priority options — Low, Medium and High, or go even further and enter the amount of gas in numbers, in the “advanced options” tab. If you don’t really understand what it’s about, then it’s better not to touch anything. The smart MADWallet system is guaranteed to select the best options for you in all aspects, so in order to avoid, for example, a transaction being stuck due to an excessively low gas level, it is better to trust the system and use the default settings.
Next, the system once again indicates to us that the best offer from 3 options has been selected and that 0.5% of the wallet commission is already included in the displayed cost.
If you find errors or something does not suit you, click “Cancel”. If everything is in order, we initiate the exchange by pressing the “Swap” button.
The most pleasant thing for holders of the Xend token is that when working in the MADWallet, a small percentage of the commission is deducted from each transaction for buyback and burning of XEND tokens! So you are not just using the wallet, you are benefiting yourself, as the XEND token will become deflationary from now on and will become more valuable with each of your new transactions. As far as you know, total supplay of $XEND are only 200 million, and it will become less and less. In one of the previous articles, I touched on this topic a little, if you are an investor/holder of the XEND token, I recommend taking a look.
So, we still have a few more functions, but they are so interesting and unusual for the wallet that they deserve a separate article. That is exactly what we will do. Give me just a couple of days, the last review awaits you, where we will consider the Bridge, Savings and future killer feature — NFT Marketplace! Sections that generally blow the brain!
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