Beamex is the newest perpetual DEX on the Moonbeam Network, currently in the Beta stage. In this guide, you will learn how to use its main features using faucet tokens and warm up for the official launch.
Get Beamex vault tokens
First, get some tokens from the Beamex faucet to fund your wallet and have some balance to perform swaps and trades. 👇
Now, let’s use that balance to test the Beamex features.
Swap assets— market and limit order
Similarly to what Beamswap offers, you can swap assets simply with just a few clicks.
However, on Beamex, you can choose to do it with either a market or a limit order.
Go to https://beta.beamex.exchange/#/trade and connect your wallet, either MetaMask, Coinbase Wallet, or WalletConnect. Beamex Beta runs on BSC Network, so make sure you switch networks if needed.
1 Market swap order
Beamex market order allows you to swap tokens instantly with zero price impact. A market order will exchange your asset at the exact price at the moment of swap.
On the right, switch to the Swap tab and make sure you’re under the Market tab.
Enter the asset and the amount you want to swap, and choose the asset you want to receive. Click “Swap” and “Confirm Swap” in the pop-up window, and confirm the transaction in your wallet.
Shortly after, your swap order should be submitted and confirmed, visible also in the notification in the bottom right corner. Click on the link provided to check the transaction status and details on the BscScan explorer.
2 Limit swap order
With a limit order, you swap your assets when they reach a certain price, not necessarily right away.
This allows you to get better exchange rates and a better value for your asset.
On the right, under Swap, switch to the Limit tab. Choose the assets you want to swap, and set the price at which they should be swapped.
Click “Create Limit Order”, confirm it in the pop-up, and confirm the transaction in your wallet.
Once your limit swap order is created, you should see it on the Orders list right under the chart.
When the chosen asset reaches the target price, your limit swap order will be finished, and your portfolio will get updated directly in your wallet.
To cancel the order, simply click “Cancel” and confirm the transaction in your wallet.
Trade perpetuals — long and short
By introducing perpetual trades, Beamex gives you the opportunity to open futures contracts using leverage in a purely decentralized way, trading directly from your wallet and without having to deposit funds to the platform.
Go to https://beta.beamex.exchange/#/trade, connect your wallet, and switch network to BSC Testnet if needed.
1 Long position
By longing an asset, you bet it will reach a higher price in the future than you bought it for.
On the right, switch to the Long tab. There, you can open either:
- A long market order: Here, you buy an asset immediately at the current market price and expect it to reach a higher price in the future.
- A long limit order: Here, you buy an asset at a specific (limit) price or better and expect it to reach a higher price in the future.
With the leverage slider, you can set up to x10 leverage on your position.
❗ ️Beware: Using leverage comes with high risk and is not recommended for beginners as it can liquidate your account fast.
1.1 Long market order
First, make sure you’re under the Market tab.
Enter the amount of the asset you want to long, and set leverage (if any) on the leverage slider.
Check the trade details at the bottom, click “Long [asset]”, review it in the pop-up window, click “Long” again, and confirm the transaction in your wallet.
Once your long position is opened, you can find it on the Positions list right under the chart, together with all the details, such as size, collateral, mark price, entry price, and liquidation price.
If you decide to close the position before the price reaches the set target, simply click “Close”, set the amount you want to close in the pop-up, and confirm the transaction in your wallet.
You can also edit the parameters of the position once opened. Click the three dots on the right and choose to either edit collateral, select market, or share position.
1.2 Long limit order
A long limit order is an order to buy an asset with a restriction, or limit, on the price to be paid. If the order is filled, it will only be at the specified price or better.
Switch to the Limit tab while still in the Long section.
Enter the amount of the asset you want to long, set the price you want to buy it at, and set leverage (if any) on the leverage slider.
Review the trade details at the bottom, click “Create Limit Order”, confirm it in the pop-up window, and once again in your wallet.
Once opened, you can find your order on the list right under the chart, where you can also edit or cancel it before it reaches the limit price.
2 Short position
By shorting an asset, you bet it will reach a lower price in the future than you bought it for.
Switch to the Short tab. There, you can open either:
- A short market order: Here, you sell an asset immediately at the current market price and expect it to reach a lower price in the future.
- A long limit order: Here, you sell an asset at a specific (limit) price and expect it to reach a lower price in the future.
With the leverage slider, you can set up to x10 leverage on your position.
❗ ️Beware: Using leverage comes with high risk and is not recommended for beginners as it can liquidate your account fast.
2.1 Short market order
To open a short market order, make sure you’re under the Market tab.
Enter the amount of the asset you want to long, and set leverage (if any) on the leverage slider.
Check the trade details at the bottom, click “Short [asset]”, review it in the pop-up window, click “Short” again, and confirm the transaction in your wallet.
Once your short position is opened, you can find it on the Positions list right under the chart, together with all the details, such as size, collateral, mark price, entry price, and liquidation price.
If you decide to close the position before the price reaches the set target, simply click “Close”, confirm closing in the pop-up, and approve the transaction in your wallet.
Under the three dots on the right, you can also edit the parameters of the position once opened.
2.2 Short limit order
A short limit order is an order to buy an asset with a restriction, or limit, on the price to be paid. If the order is filled, it will only be at the specified limit price or better.
To open a short limit order, switch to the Limit tab while still in the Short section.
Enter the amount of the asset you want to short, set the price you want to buy it at, and set leverage (if any) on the leverage slider.
Review the trade details at the bottom, click “Create Limit Order”, confirm it in the pop-up window, and once again in your wallet.
Once opened, you can find your order on the list right under the chart, where you can also edit or cancel it before it reaches the limit price.
Buy BLP and stake it as LP to earn fees
BLP, Beamex Liquidity Provider Index Token, is Beamex’s native liquidity provider asset.
It represents an index of assets used to support swaps and leverage trading on Beamex, and replaces the need for liquidity token pairs that provide liquidity on Beamswap. BLP is composed of ETH (30%), BTC (12%), DOT (5%), GLMR (3%), and USDC (50%).
You can mint BLP using any index asset or burn it to redeem any index asset. As a liquidity provider or BLP token holder, you earn a profit when leverage traders suffer a loss, and vice versa.
Learn more about BLP. 👇
To buy BLP, go to https://beta.beamex.exchange/#/buy, and in the $BLP window, click “Buy on BSC Testnet”. Make sure your wallet is connected to the BSC Testnet.
On the Buy or Sell Beamswap LP (BLP) page, make sure you’re under the Buy BLP tab, set the amount you want to spend, review details, click “Buy BLP” and confirm the transaction in your wallet.
You could also choose a more fee-friendly exchange pair by comparing the fees that come with different assets.
Once you purchase BLP, the LP tokens get staked and start supplying liquidity to trades on Beamex. By staking BLP, you earn fees from swaps and leverage trading.
Once the staking period is over, you can sell BLP and collect fees for supplying liquidity.
Beamex leverage trading incurs a 0.1% fee. Liquidity providers earn 70% of the protocol fees, while $SHARE token holders receive 30%.
Beamex Beta live now
Try and test what Beamex Beta has to offer and get ready for the platform’s official launch.
Go to https://beta.beamex.exchange/#/trade and up your crypto trading game the decentralized way. 📈
About Beamswap
Beamswap is a DeFi Hub built on the Moonbeam Network featuring a decentralized exchange (DEX) and an automated market maker (AMM). It gives users the freedom of adding liquidity, performing peer-to-peer transactions, swapping fungible tokens, and earning passive income from staking and yield farming. Beamswap will support the growth of Moonbeam’s ecosystem and act as a launchpad for new projects developing on the network. Our team’s mission is to aid in the multichain vision to serve as a host for projects on the Moonbeam & Polkadot Ecosystem while working alongside projects with existing infrastructure looking to bridge into the multichain universe.
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