The Dexalot Subnet Checklist
How to connect a wallet, deposit $ALOT, trade and withdraw-
Dexalot is a dual-chain application existing on both the Avalanche C-Chain and Dexalot Subnet. The contracts on the C-Chain and the Subnet communicate by generic message passing with the use of high-end bridge technologies. With the dual-chain architecture, you need to deposit from the Avalanche C-Chain, trade in the Subnet, and withdraw from the Subnet. One advantage of the dual chain architecture is that the assets never leave the originating chain while trades are occurring in the subnet.
Instead of transferring your assets from the Avalanche C-chain to Dexalot, the cross-chain message function provided by LayerZero is used. With this innovative function, ERC-20 tokens are not wrapped or moved between chains. In the background, your assets are locked on the Avalanche C-chain. The same amount is mirrored on the Dexalot subnet chain, allowing you to trade there. When you withdraw, the amount is unlocked on the Avalanche C-chain.
Now that you know a bit more about the architecture, let’s discuss how to use the subnet.
- First, connect to Dexalot with your wallet (Core, Metamask, etc.). When you first connect to the application, you will see the page above.
If you haven’t added the Dexalot subnet network to your wallet, your wallet will automatically open the network-adding confirmation page when you switch to Dexalot from the top right corner of the page. If the network-adding confirmation page doesn’t open, you can add it manually from within your wallet settings.
Dexalot Subnet RPC configuration:
- RPC URL: https://subnets.avax.network/dexalot/mainnet/rpc
- Chain id: 432204
- Symbol: ALOT
- Explorer: https://subnets.avax.network/dexalot/tx/
- Network Name: Dexalot Subnet
2. Next, deposit the assets in your wallet to the Dexalot Subnet.
You must be in the Avalanche network while depositing. You can switch which network environment you are in by clicking on the drop-down menu in the upper right corner. To deposit, click on the Portfolio tab and click on the three-dot menu at the right of the token line of the token you want and select ‘Deposit into Dexalot’.
After selecting ‘Deposit into Dexalot’, type the amount you want to deposit on the pop-up window and click Deposit. Then you need to confirm your transaction with your wallet.
Your assets will be available for trading on the Dexalot Subnet in a short time after the approval process completes.
3. After you deposit, you need to switch to the Dexalot network environment to trade. Once you have selected Dexalot from the drop-down menu at the top right and confirmed the change in your wallet, you are ready to place orders on the Dexalot subnet.
Order operations are the same as in the previous single-chain architecture. However, there is one element that you should pay attention to — the Gas Tank!
As you know, blockchains need gas for every transaction that takes place. The same is true for the Dexalot Subnet chain. You need to have enough gas tokens in your wallet for each transaction.
Just as you need to keep $AVAX in your wallet for gas when transacting on the Avalanche network, you should keep $ALOT on the Dexalot subnet in your gas tank. Thanks to the low fees that the Dexalot Subnet provides, the amount required is quite small.
When you connect to the Dexalot Subnet for the first time you won’t have $ALOT in your wallet to start with. Dexalot has you covered though; When you connect and deposit for the first time, 0.1$ ALOT will appear in your gas tank. This amount will be enough for approximately 10–15 transactions, so buying more $ALOT or adding some to the gas tank if you already have it in your portfolio would be helpful.
To add to the gas tank, click the three-dot menu at the right of the $ALOT token line in the ‘Portfolio’ tab, click ‘Add Gas’ and add the desired amount to the gas tank.
You can also withdraw the amounts you have added to your portfolio by clicking on ‘Remove Gas’.
4. To trade, you can go to the ‘Trade’ tab and place an order using a variety of order types.
5. If you want to withdraw your assets back to the Avalanche C-chain, click on the Portfolio tab and select the three-dot menu at the right of the token line of the token you want to withdraw from. Now click ‘Withdraw to Avalanche’. After typing the amount in the pop-up window and clicking ‘withdraw’ and confirming it with your wallet, your assets will be withdrawn back to the Avalanche network shortly.
4 Easy Steps to #OwnYourTrade
- Go to https://app.dexalot.com/trade. Connect your wallet.
- Add the Dexalot Subnet network to your wallet.
- Deposit your assets. (You must be in the Avalanche network)
- Switch to the Dexalot network and while you’re on the Dexalot network;
- Add $ALOT to the Gas Tank.
- Trade.
- Withdraw your assets(if you choose).
Author: ZainCypher
Editors: Brad McFall, Dan Marcoulis
Graphics: Can Toygar
About Dexalot:
Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel to a decentralized on-chain application. Its mission is to bring a truly inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk. It is built on Avalanche, the fastest smart contracts platform in the blockchain industry.
