DCTDEX Beta 0.1 : Basic Tutorial 1
Trade AVAX/DCTD with Multichain Feature
DCTDEX Beta V.0.1 is finally here! Time to take the Multichain and Gas-less feature for a spin and trade AVAX for more DCTD. But before we begin the tutorial, please be aware of the following disclaimer and limitation due to DCTDEX is still at version Beta V.0.1 :
As with any Beta launch, some Bugs and glitches may be observed on DCTDEX. Whilst we iron out the DEX , please only trade with reasonable amounts as DCTDAO does not hold any responsibility for any losses of funds. DCTDEX is a decentralized system without DCTDAO holding any custody of your fund, using multiple blockchains beyond our control, from third party providers.
Current limitation :
1. To utilize the multi-chain feature for purchasing any asset using Ethereum ETH, only WETH (Wrapped Ethereum) or other asset like DCTD which has pool in it can be used to do bridging toward Avalanche Chain
2. To utilize the gas-less feature(trade with minimum gas fees), users need to be on Avalanche Chain and have AVAX native token to conduct the trades.
3. More feature to help with better User Experience will be developed on the next multiple updates
4. Please be aware there are bridging fee. You need to have enough Ethereum or AVAX to do bridging on the chains
With all that in mind, let us begin the tutorial :
(This tutorial is to made to utilize the multi-chain and gas-less feature of the DEX using Avalanche Chain)
The setup : Chrome Browser with Metamask Installed
Important : You cannot trade on Ethereum Mainnet as the DEX is run on Avalanche hence users require to bridge the token first to trade
1. Connect Your Wallet & Chain Preparation
- Go to dex.dctdao.org and click connect your wallet. (Please use metamask to minimize any unknown risk)
And confirm the connection to your wallet
2. Change the chain that you connected with initially (Ethereum Mainnet where your funds are located)
2.1 IMPORTANT : Please setup your wallet to have the Avalanche Mainnet Chain by clickin on the Custom RPC on the Network Selection
And enter the following detail :
Network Name: Avalanche Mainnet C-Chain
New RPC URL : https://api.avax.network/ext/bc/C/rpc
Possible issue : Having a wrong chain will show this following error
2. Bridging and Getting Avalanche Native Token AVAX
Trading on Avalanche Chain requires user to have Avalanche Native Token AVAX to pay a very small gas-fee, and DCTDEX making it easy for user to have AVAX without having to go to other website to buy and back to the DEX therefore the bridge have a feature to swap your token to AVAX and begin multi-chain trade. Let us begin the bridging :
3. After your wallet has been setup, click on the bridge and begin preparing to swap your tokens (WETH, DCTD, or others) to Avalanche Native token.
Possible questions : Why the swap button showing the error message
“This network is not currently supported for trading.” That is because we are starting from Ethereum Mainnet and DCTDEX is running on Avalanche.
4. Make sure your source chain is correct, on this example is Ethereum Mainnet
Set the Destination Chain as well to be Avalanche Mainnet C-Chain
5. Select the token that you wish to use to get AVAX Native Token by clicking on Select Token Button. For this example we are using DCTD to convert to some AVAX :
Possible Issue : Do not select Ethereum, normal Ethereum cannot be used as bridging. For this purpose you need Wrapped Ethereum (WETH) to get AVAX. DCTDEX will show you an error button when you choose Ethereum for this purpose as seen below.
6. Set the amount that you wish to convert to AVAX Native Token. For this example we choose 8 DCTD set it to 100% so that 8 DCTD will be converted to X amount of AVAX
Note : At this version, DCTDEX unable to show how many AVAX that user can get per token converted. But for future updates DCTDEX will able to show the amount of conversion.
Click Approve DCTD and wait for a moment.
Once it’s done, the button turn to DEPOSIT, click it and the bridging will begin.
Note : The default receiving address for this process is your initial wallet address. If you wish to send it to other wallet, please click on the “Set Different Destination Address” (above the deposit button) and put your other wallet address.
7. Afterward, wait for the bridging to be completed. You may seen this message first within few seconds :
But that does not mean that the bridging is complete. Users will have to wait for some time especially when the bridging is starting from Ethereum (like this example) as it is rather slow.
8. To make sure that the bridging is complete, check on your receiving wallet and change the chain to Avalanche Mainnet C-Chain as seen below :
3. The Swap
After you are done with the bridging, you already have AVAX Native token, you are now ready to do the swap.
Important : For this example, the trading pair will be AVAX/DCTD, in the near future there will be WETH/DCTD and more.
9. Click back on the Swap button, and make sure you are now at Avalanche Chain as seen below :
10. You can now swap by choosing the token that you wish to swap by clicking on the Select a Token button which will lead to the example below and you can select DCTD (Note that currently there’s only AVAX/DCTD trading pair) :
11. Now you can Swap by changing the amount that you wish to Swap from AVAX to DCTD and click Swap as seen below :
12. After the transaction is confirmed then you are done for this phase.
4. Bringing Back Your DCTD to Ethereum Blockchain
If you wish to bring back your DCTD to Ethereum Blockchain and trade somewhere else, you can do the opposite of the step 3–8 of this tutorial with a bit of difference that you can follow below.
13. Back to the Bridge option and choose the source chain from Avalanche to Ethereum Mainnet
14. Select Token, in this example you can select 4 DCTD then click on the Approve DCTD button and confirm
The Difference : By going back to AVAX to Ethereum it require Bridging Fee in AVAX
15. Click on Deposit and you have DCTD back on the Ethereum Chain after the bridging is done. (Will take some time due to Ethereum chain slow speed)
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