Emeris Beta is Live: How to Get Started
Intro
The wait is officially over! We’re excited to let you know that Emeris Beta is now live. With Emeris, you can keep track of your crypto assets across multiple chains, transfer and swap assets between chains, and participate in Gravity DEX liquidity pools — all within a unified interface! For more information about the Emeris vision, we encourage you to check out our Intro to Emeris blog post here.
This overview post provides a brief introduction to the main features of Emeris Beta. Visit emeris.com to try out the app today.
Disclaimer: Please note that Emeris is currently in Beta. Emeris provides access to novel technology that has just been deployed in production. This beta status means that, while unlikely, there could be a few bugs here and there. Please use Emeris with caution!
Logging In
When you first land on Emeris, you can choose between connecting your wallet or using the demo account. The demo account enables you to get a preview of the application with real data, but does not let you perform actions like transfers or swaps. If you want to actually use the application, you must download one of the supported wallets. Currently only the Keplr wallet is supported for this Beta release.
Portfolio & Assets
The Portfolio page gives a consolidated overview of your holdings across all of the Emeris supported chains. The Portfolio includes a breakdown of your assets, including your liquidity pool (LP) assets, liquidity pool holdings, and the swap widget that enables you to swap assets using the Gravity DEX protocol.
The unique thing about Emeris is its built-in interoperability solutions such as the Inter-Blockchain Communication protocol (IBC), which allows you to transfer assets between chains. As assets are spread across several chains, it can get tricky to keep track of your balances. Emeris has you covered: asset balances are consolidated across chains in the “Assets” section of the Portfolio. For further details of your asset holdings, simply visit the asset’s “Detail” page.
Send & Receive
There are two options to transfer assets on Emeris:
- Send to Address: This standard transfer lets you send assets to a specific crypto address. All address formats from supported chains are accepted (for example, cosmos10ms58lgajy69z2x62shj0nxc6r3a0r7qf4crvh for the Cosmos Hub, akash10ms58lgajy69z2x62shj0nxc6r3a0r7qyw4y4d for Akash, and so on). When you select the asset to transfer, Emeris automatically performs a cross-chain transfer if the asset is on a different chain than the one associated with the address you’ve indicated. Otherwise, a standard transfer is performed.
- Move Assets: This transfer option lets you move assets from one chain to another between your own addresses (an address is specific to a given blockchain). When you create your Keplr account, a seed is generated, from which addresses can be derived for each blockchain. This option helps avoid the tedious process of copying and pasting your own addresses each time you want to move one of your assets from one blockchain to another.
In this new era of blockchain interoperability, tracking multiple assets across various chains can be a challenge. That’s where Emeris comes in: if you want to receive an asset on one of your addresses, just select “Receive” in the navigation bar to find and display your address on the native chain of any supported asset.
Swap
The Emeris swap functionality, powered by the Gravity DEX protocol, lets you easily acquire an asset in exchange for another. In the swap widget, you are able to select any supported asset, no matter what chain it’s currently on.
Because the Gravity DEX protocol is deployed on the Cosmos Hub, selecting an asset that is not on the Cosmos Hub means a cross-chain transfer needs to happen before the swap can actually take place. Not to worry though, Emeris will guide you through the whole process: you just have to follow the steps!
When a swap is performed, a Limit Price is set based on the pool’s current price and your selected slippage level. The Limit Price is the maximum price at which the asset you are providing can be swapped for the asset you want to receive. In other words, your swap order can be executed only at a price lower than or equal to the Limit Price. If the Limit Price is reached during execution of your order, the execution stops and your order is partially executed — this means only some of your assets will be swapped and the rest will remain unchanged.
Advanced functionality to set a custom slippage (i.e. a limit price) is possible, this mode can only be enabled in the global settings. Be careful though! High slippage values can significantly affect the Limit Price and might lead to your assets being swapped at a much higher price than expected.
Liquidity Pool
Liquidity pools are a core component of the Gravity DEX protocol. In the current release, each pool contains two assets. Emeris provides three main ways to interact with pools:
- Create a pool: You can create pools by selecting the “Add Liquidity” button and then selecting a pair of assets that does not yet exist in a pool. In most cases, you shouldn’t have to create pools. Only one pool can exist for a given pair of assets, so if that asset pair already exists, you will not need to create it. No one “owns” pools and it does not matter who creates them: pools are completely open and anyone can add liquidity to them. If you happen to find a pair of assets that do not have a pool yet, do your research before you open a new pool for this pair. A pools’ liquidity is used to swap tokens: if the ratio of assets you input when creating a pool is different from the price in other markets, arbitrageurs may take advantage of it and you can suffer impermanent losses. We generally recommend that only advanced users create liquidity pools.
- Add liquidity to an existing pool: Adding liquidity to a pool can be done if you own both of the pool’s reserve assets. When adding liquidity, you must provide an equivalent amount of each asset, based on the last pool price (this is done automatically by Emeris). Once the transaction to add liquidity goes through, your assets are placed in the pool, and you receive an LP asset. An LP asset represents your share in a given liquidity pool. You can transfer LP assets, just like any other asset, but be careful: if you transfer your LP asset to another user, you also transfer your share in the pool with which it is associated!
- Withdraw from a pool: When you withdraw liquidity from a pool, you send LP assets back to the pool, and receive assets stored in the pool in exchange (in proportion to the amount of LP assets you input). Note that when users of Emeris swap tokens, the swap fees go to the underlying pool — these fees stack up on top of the provided liquidity, and liquidity providers get a share of these fees each time they withdraw from the pool.
This is only the beginning!
There’s a lot more to Emeris Beta than we’ve presented here, but we hope that you discover the benefits for yourself. Be sure to check out this informative Step by Step guide for more detailed pointers on getting started. We also have lots of improvements planned. In the near future, we plan to roll out several upgrades to the UI along with new features like staking and asset performance metrics. We can’t wait to show you what we have in store!
