Tutorial: An eosfinex Walkthrough
A comprehensive walk-through to using eosfinex.
eosfinex is the first high-performance, on-chain exchange built on EOSIO technology.
As a trustless trading experience, eosfinex facilitates a highly-scalable network of peer-to-peer value exchange, unconstrained by borders and built around a foundation of transparency, speed and integrity.
To start trading on eosfinex, visit paper.eosfinex.com.
Step 1: Logging In
The eosfinex beta works as a simulated ‘paper trading’ environment using test tokens. To reiterate, the eosfinex beta uses test tokens only, and no real tokens can be traded.
To receive test tokens, visit paper.eosfinex.com/faucet/, enter your EOS mainnet account name and press ‘Send’. Your test tokens will be sent to your EOS mainnet account and should be visible within 10 seconds. Refresh your eosfinex balance to view your new balance.
To get started, press login.
In the modal box, you can choose to sign in with either Scatter or your private/public key pair.
Use the appropriate option to sign in.
If you do not have an eosfinex account, you can choose to create one. Creating an eosfinex account requires holding at least one EOX in your EOS account. EOX is used to allocate CPU, RAM and network resources for trading. With EOX we ensure fair resource allocation between all traders. EOX is available through the faucet (see above).
You can create an account with Scatter or private/public key. If you wish to create an account with public/private key pair, select ‘Don’t have an account’.
Fill out the following and click ‘Create:
- Your EOS account name
- Your EOS private key
- Your EOS public key
- How much EOS to transfer from EOS mainnet to the sidechain account with your newly created user
If you wish to create an account using Scatter, select ‘First time connection’ and fill out how much EOS to transfer from EOS mainnet to the sidechain account with your newly created user. Then follow the onscreen instructions from Scatter.
If you wish to connect to the eosfinex beta using Scatter, please follow the instructions as outlined here: Logging In Using Scatter.
Step 2: Balances
Your balances are split between 3 wallets — Mainnet, Sidechain & Exchange.
- Mainnet: Your mainnet token balances.
- Sidechain: Your eosfinex sidechain balances.
- Exchange: Your tradable balances.
You can transfer balances between your 3 wallets at no added fee.
Step 3: Transfers → What’s next?
Your funds must be in the Exchange wallet in order for you to trade.
To transfer your balances from the Mainnet wallet to the Sidechain wallet, and from Sidechain to Exchange, press the ‘Transfer’ button in the top-right corner of the eosfinex UI.
To do so, specify the following values:
- Token Symbol
- Sending Wallet (“From”)
- Receiving Wallet (“To”)
When specified, press “Request Transfer”. Your balances should reflect the changes after roughly 3 minutes.
Please note that you can only transfer between Mainnet and Sidechain and between Sidechain and Exchange (and vice versa). No fees apply when transferring balances between wallets.
Step 4: EOX Resources
Once you sign up you automatically reserve a small amount of resources on the Sidechain. This is handled by the initial 1 EOX required to create your account.
If you require more resources, you can also buy/sell RAM or stake for CPU or NET resources using the EOX resources component.
- Staked vs Unstaked
Staked is the amount of EOX currently staked in CPU and Network resources. Unstaked is the amount of EOX available in your sidechain balance, that can be used to stake for resources.
- RAM (Blockchain storage)
Buy or sell RAM resources on the EOS blockchain.
- CPU Bandwidth
Stake for CPU cycles on the EOS blockchain
- Network Bandwidth
Stake for Network bandwidth on the EOS blockchain
For more information on network resources, please refer to this overview by EOS Asia.
Step 5: Trading
To get started with trading on eosfinex, direct your attention towards the ‘Order Form’. Within the order form, you should see the following:
- Order Form.
- Post Only / IOC / Release on Trade / Sweep Collateral.
For more information on these terms, refer to ‘Tutorials: Order Types on eosfinex’.