Guide to Galleon’s Web App

Published in

Galleon

6 min readAug 19, 2022

Give me the Career as a Buccaneer. It’s the Life of a Pirate for Me!

Although all of Galleon’s products are Mint-and-Redeemable via TokenSets, you might not know that all of our flagship products are also available on Galleon’s App. This is a guide to help users navigate Galleon’s website, enter the App and connect with their web3 wallet to swap into Galleon products.

Additionally, we have some further information regarding our app’s “Flash Issuance”, which enables large transactions with lower slippage and reduces costs but more on this later.

TLDR

Breakdown of navigating the website, App and web3 wallet connection.
Other benefits of using the App (“flash issuance” and price quoting)

Getting Started

When looking to swap into Galleon’s products, venture your way to the galleon.community, you’ll be greeted by our home page (you’re in the right place if you see the beautiful Galleon illustration courtesy of Pony.Studio).

1. Once here, click “Enter App”:

This takes you through our App dashboard; if you’ve reached this point, we’re on the right track! The next step is connecting your web3 wallet.

2. Hit “Connect” in the top left corner of the page.

You should then see a wallet prompt pop-up window; here, you can choose from a range of web3 wallets; (including but not limited to) Metamask, Coinbase and Rainbow.

3. Choose your wallet provider; in this example, we’ve selected Metamask:

If you’re not already logged into your wallet, you won’t be able to interact with the App. (Don’t panic!) Your wallet provider will prompt you to log in.

Once connected, if you’ve been using an alternative chain to the product you’re trying to buy, you’ll see the “Wrong Network” notification in the top right of the screen.

In the example below, we’re looking for Ethereum mainnet products. However, we’re currently connected to the Layer 2 network Arbitrum. As you can see in the screenshot below, not only do we see“Wrong Network”, as mentioned above, but the Galleon app is also prompting us to “switch” to the Ethereum network.

4. Click “Switch to Ethereum”:

You should see another wallet pop-up. However, this one is the site asking the wallet to switch to the correct network for the product.

5. Click “Switch network”, and this will connect you to the Ethereum mainnet:

On your browser, in the top right corner, you should see “Switch Network” changed to “Ethereum”, a disconnect button and the wallet address you’ve connected with.

See it? Fantastic! Not only have we connected to the App via our web3 wallet, but we’ve also switched to the correct network for Ethereum-based products (easy, right?!). Moving on….

6. Click on “Flagship Products” on the navigation bar:

At this point, you should be on our Flagship Product page, which gives you an overview of the product; name, ticker, strategy and various performance timeframes. In this example, we will be swapping into the ETH Max Yield Index (ETHMAXY).

7. Click on the “ETH Max Yield Index” section:

You should now be on the ETH Max Yield Index page, which includes the current price, various timeframe performance charts and the swap interface.

In this next step, we’ll be focusing on the swap interface, as this is where you’ll be swapping into ETHMAXY. The interface is pretty straightforward; you have your “From” box — the asset you’re converting from — and the “To” box — the asset you’re converting to.

(The best way to think about this is that “From” is what you’re swapping from, and “To” is what you’re swapping to.)

Now we know how the swap interface panel works, let’s swap into some ETHMAXY!

8. Enter 0.04 into the “From” box on the interface

In this example, we’re attempting to swap 0.04 ETH worth of ETHMAXY via the swap interface; as you can see below, once we entered the “0.04” into the “from” panel, the interface has changed; it’s now showing:

The US dollar value ($69.61 — at the time of writing this guide)
The amount of ETHMAXY you’ll be receiving in the “To” box (0.0399 — at the time of writing this guide)
The “Minimum ETHMAXY Received” is the lowest possible amount you will receive if you swap.
The Network Fee (Gas costs for the transaction).
Where the Offer is from Uniswap_V3 (The Decentralized exchange used to execute the transaction).
Trade button

If you’re happy with the amounts, you can hit trade to swap for ETHMAXY.

9. Hit the trade button to execute the swap.

The final step is the wallet trade approval; once you hit trade on the app interface, the last wallet prompt will pop up, which outlines the gas costs to execute the swap.

10. Hit the confirm button.

Once the swap goes through — it takes roughly a minute (or two) depending on the gas you used — you’ll receive your ETHMAXY. Great Job!

Why use the app over TokenSets? Isn’t it the same? Not quite.

The app utilises “Flash Issuance”, a novel tool that helps to save costs and reduces slippage on larger trades.

How does it reduce slippage and save costs?

When using a decentralised exchange (DEX), liquidity pools can often be restrictive for larger entities — essentially not enough product in the liquidity pool to buy — which increases the trades slippage (>1%), and these entities encounter significant price impacts, which can reduce profitability.

Flash Issuance removes this risk, enabling our products’ instant entry (or exit). This is done by indirectly swapping the underlying components of our structured product and then minting a new unit.

It also uses 0x aggregate trade routing for the best possible market pricing.

Where can I learn more?

That’s all for now; I hope the guide covered everything, but if not, the Galleon crew are always here to answer your product and support queries, join us on Discord and pledge 100 years before the mast.

Discord: https://discord.gg/galleondao

Twitter: https://twitter.com/galleondao