Biconomy Early Adopter Program
Make 3 test net trades on Forward Swap, & win future Biconomy rewards & drops! Help us gain invaluable feedback so we improve our products.
At Biconomy, we want to involve our community in our mission to simplify the web3.0 experience. We see you as fellow warriors as we march towards a multi-chain decentralised future. We need EVERY single one of you to make our simplified transaction experience the default norm for web3.0 & Dapps!
Having said that, we will always have a special place in our hearts for early supporters! (So join the gang now!) Thus, we want to involve you closely with our new product launches, starting with Forward Swap. And handsomely incentivise those crazy souls who help us garnish our products with perfection & simplicity!
This is our first incentive program. Many more in the pipeline, so stay tuned!
First 500 wallets to make 3 test trades on Forward Swap will win future Biconomy rewards & drops (ahemm.. 😉)!
Just perform 3 swaps with different tokens. Provide us with some strong feedback. And win Biconomy rewards in the near future! Don’t forget to tag us & tweet the wallet address to qualify.
Here’s what you got to do:
- Step 1: Visit forwardswap.io
- Step 2: Get USDT, USDC or DAI from our faucet [Scroll down for detailed step by step guide & FAQ for this]
- Step 3: Perform 3 different test trades
- Step 4: Re-tweet https://twitter.com/biconomy/status/1375075096809852928?s=20 with “Save your ETH by paying gas in stablecoins with @biconomy Forward! Try testnet for forwardswap.io now.” along with your wallet address.
- Step 5: Tell us what you liked, what was frustrating, how we can improve the UI etc. on our telegram.
Step by Step guide on using Forward Swap test net
- Open the Dapp forwardswap.io. You can use metamask for this.
- Change the network to Kovan test network. Then connect your wallet to the Dapp.
3. Now, you need to obtain kovan test tokens to a. trade on forward swap & b. pay gas fees in stablecoins. You will see 6 faucets on the dapp:
- Kovan ETH to pay gas for approving our forward contracts
- Trade faucet: USDT, USDC & DAI for trading
- Fee faucet: USDT, USDC & DAI for paying the gas
Note: The tokens USDC & USDT obtained from the ‘fee faucet’ are only meant to be used as fee tokens. You can’t use them to trade or swap on the Forward Swap UI. DAI can be used for both trade & fee payment.
4. To get trade USDT, USDC & DAI as well as fee USDT & USDC, just click on the button & sign the transaction. You will receive a fixed quantity of tokens.
To get kovan ETH, sign in to the Gitter Channel that pops up, & post your ETH address from MetaMask to the main chat. You are going to need kovan ETH to approve USDT & USDC, which is not gasless. But approving DAI is gasless. So you can also swap the DAI you receive from the faucet to ETH on the swap interface.
P.S. Getting kovan ETH can be a pain in the ass, & unfortunately we cannot do much about it :/ Nor can we remove it’s necessity in the Forward Swap testnet experience even though the USP is that it’s ETH-less. Just goes to show how big of a challenge we have on our hands to simplify blockchain transactions.
Note: You may not see the updated balance on metamask after successfully requesting the fee token USDT & USDC. Since these fee tokens are custom tokens, you will need to add them manually to see them on metamask UI. (This is not compulsory to do. You can see the balance for the trade tokens on the forward swap UI itself)
Go to metamask: assets -> add tokens -> add custom tokens and paste below URLs -
USDT : 0x8e1084f3599ba90991c3b2f9e25d920738c1496d
USDC : 0x6043fD7126e4229d6FcaC388c9E1C8d333CCb8fA
5. Once you have the trade & fee tokens, as well as kovan ETH, we move to approving the tokens so you can start trading.
Except DAI, approving any other token unfortunately requires kovan ETH. This also means you will have separate approvals for trade USDT/USDC & fee USDT. Fee USDC approval is also gasless.
6. Next, you can start swapping! There is one final check though. Once you click on swap, the dapp will check if you have approved our ERC20 forwarder to interact with your wallet. If you have not given the approval, the dapp will open a pop up to approve/permit. This is a one time approval.
FAQs
Why can’t I trade ETH on Forward Swap?
First of all, this is only a technical roadblock for test net. Main net will support ETH as well. Currently, all the swaps are going to be meta transactions by paying for gas fees in stable coins (faucet tokens) and meta transactions are technically not possible with ETH value transfers. (Relayers will always send msg.value = 0).
Why does it show insufficient liquidity?
Forward swap is a Biconomy wrapper that sources the underlying liquidity from uniswap. So all the tokens that are available on app.uniswap.org on Kovan will result in sufficient liquidity for swapping. But, some tokens may not have enough liquidity on kovan uniswap as it’s just a test environment so noone is really making sure there are enough test tokens. Try selecting some other token to swap & the issue should be resolved.
Another case where you may get insufficient liquidity is if you select the fee token USDT or USDC to swap. As mentioned these fee tokens can’t be traded. Thus, import the USDT or USDC on uniswap (from compound) & you should be good.
I am stuck on ‘checking allowance’ screen? What is this allowance?
Essentially, just relax. This step usually takes a lot of time so you probably haven’t done anything wrong. At this step we will be checking if you have already approved Biconomy’s ERC20 Forwarder to interact with your wallet. If approval has been given, you will move to the next step of swapping. If the approval is not given, you can ‘permit & swap’ in a single step! It will swap in one go and charge the total fees! Gasless! (only eligible for DAI and USDC)
When I try to get DAI (or any other token), I get a reverted message that ‘you have requested too early’. What’s that?
If you have already received your quota of tokens, you won’t be able to get more for another 45 minutes. This is just to avoid bots ruining the fun for everyone. You can request more after the 45 min cool down period. So trade in small amounts so you don’t need to wait to complete the 3 trades.
How Do I Learn More?
Join our gang on telegram
Swap is the first use case built on Biconomy Forward. Biconomy Forward provides easy APIs for dapps to enable gas payments in ERC20 tokens! Moreover, it ensures the transaction never fails, while also optimising the gas fee!
If you would like to integrate Forward on your Dapp, let us know!
