A Guide to Wrapped IXI
How to get Wrapped IxiCash (WIXI) and trade or add liquidity on Uniswap?
This is a step-by-step guide on wrapping and unwrapping your IXI.
What you will need to get started:
- an IxiCash wallet such as Spixi or Ixian LiteWallet
- an Ethereum wallet such as Metamask
- IXI coins in your IxiCash wallet
- enough ETH to cover the transfer fee
1. Go to https://bridge.ixian.io
Type or paste your IXI address (the address from which you will send IXI for wrapping — this should be a personal address, NOT an exchange address such as VITEX).
Type or paste your ETH address (the address you want to received Wrapped IxiCash on and from where you will send ETH to cover the transfer fee), then click Start.
If this is the first time IxiCash Bridge sees the IXI/ETH address pair you’ve provided, it will ask you to perform Know Your Customer (KYC) verification. This verification is needed to be in compliance with anti-money laundering laws. The KYC information will be linked to your IXI and ETH address pair, so you only need to do it once after it is approved. After the KYC verification is approved, refresh the bridge webpage.
2. Follow the on-screen instructions
You’ll need to send enough ETH to cover the WIXI transaction fee.
Make sure you send the ETH from the *same* ETH address you typed previously. Sending from a different address or directly from an exchange will result in loss of funds!
3. Send IXI in the amount you want to wrap
When enough ETH is available for the WIXI transaction fee, use Spixi or Ixian Litewallet to send IXI to the bridge address shown on the page.
Make sure you send IXI from the *same* IXI address you typed previously. Sending from a different address or directly from an exchange will result in loss of funds!
4. Add token to your Metamask
Click Add Token in your Metamask and type the following in the ‘Contract Address’ :
0x179cd91631d96e8fafee6a744eac6ffdbb923520
It will automatically fill with WIXI details (symbol WIXI, 8 decimals).
Now you should see WIXI in your Ethereum wallet.
How to Unwrap your WIXI and obtain IXI
You’ll need:
- an IxiCash wallet such as Spixi or Ixian LiteWallet
- an Ethereum wallet such as Metamask
- WIXI tokens in your Ethereum wallet
1. Go to https://bridge.ixian.io
Type or paste your IXI address (the address from which you will send IXI for wrapping — this should be a personal address, NOT an exchange address such as VITEX),
Type in your ETH address (the address you want to received Wrapped IxiCash on and from where you will send ETH to cover the transfer fee), then click Start.
If this is the first time IxiCash Bridge sees the IXI/ETH address pair you’ve provided, it will ask you to perform Know Your Customer (KYC) verification. This verification is needed to be in compliance with anti-money laundering laws. The KYC information will be linked to your IXI and ETH address pair, so you only need to do it once after it is approved. After the KYC verification is approved, refresh the bridge webpage.
2. Follow the on-screen instruction
Simply send WIXI from your ethereum wallet to the address shown on screen. Once the WIXI transaction has 10 confirmations, the bridge will show it on the page and will perform the unwrapping. You’ll receive IXI in your IxiCash wallet.
Your IXI is now unwrapped!
How to add liquidity on Uniswap
You’ll need:
- an Ethereum wallet such as Metamask
- sufficient ETH and WIXI tokens
Go to Uniswap website
Follow this link: https://info.uniswap.org/#/tokens/0x179cd91631d96e8fafee6a744eac6ffdbb923520
- Click on ‘Add Liquidity’
- For the pair choose WIXI and ETH.
- Choose 1% provider fee.
- Select the minimum and maximum price range you want to receive fees from.
- If the market price is outside your specified price range, you can choose to deposit a single asset only (be it ETH or wIXI).
- Type how much WIXI and/or ETH you want to deposit and press Add.
- After confirming the transaction, your tokens will be placed in the liquidity pool and you’ll earn provider fees when others trade on the WIXI-ETH Uniswap pair.
How to trade WIXI on Uniswap
You’ll need:
- an Ethereum wallet such as Metamask
- sufficient ETH and WIXI tokens
Go to https://app.uniswap.org/#/swap?inputCurrency=0x179cd91631d96e8fafee6a744eac6ffdbb923520 and connect your Ethereum wallet.
Where it says “Select token” choose ETH. Type the amount of WIXI you want to trade. Change the trade direction to either buy or sell, depending on what you want to obtain — WIXI or ETH.
If this is your first trade, you’ll need to Allow Uniswap to use your WIXI. Once the approval transaction is confirmed, you can perform the actual trade by pressing the Swap button, then confirming in your wallet.
FAQ:
Q: Can I use an exchange address to send or receive WIXI?
A: No, you need to use private addresses for *both* ETH and IXI. If you use an exchange address, the bridge won’t know who sent the coins to and won’t know to which address to route the WIXI tokens.
Q: I transferred coins to the bridge but they are not appearing. Why?
A: The bridge requires at least 10 block confirmations on both Ethereum and Ixian blockchains. Your transactions will appear on the bridge after 10 block confirmations. If the bridge DLT node is not synchronized with the network, you will see a notification at the top of the page.
Q: Will my coins be lost if I don’t pass KYC verification?
A: No. If KYC verification fails, you won’t receive any instructions on where to send your coins to perform wrapping or unwrapping.
Q: Can I send coins to the bridge Ethereum or IXI addresses without having done KYC verification?
A: No. Sending coins to the bridge addresses without following the instructions will result in loss of funds.
Q: Can I receive coins to a different address than the one used when I did KYC?
A: No. You will need to perform KYC with a new address pair, meaning you’ll need a new IXI and ETH address.
Q: Can I use the bridge without doing KYC verification every time?
A: Yes. KYC verification is only needed the first time. All address pair transactions will be tied to the KYC information provided.
Q: What is the WIXI ERC-20 contract address?
A: 0x179Cd91631d96e8faFEe6A744eAC6fFdbB923520
Q: I can’t find WIXI in the list of tokens on my ethereum wallet, how do I add it?
A: Select Add Token -> Custom Token and where it says “Token Contract Address” type 0x179Cd91631d96e8faFEe6A744eAC6fFdbB923520 then click Next to add the token.
Q: Can I wrap my IXI without sending ETH for the transaction fee?
A: No. The bridge needs to perform the wrapping procedure on the ethereum blockchain, which requires a fee for gas. The amount varies depending on the ethereum network load.
Q: Can I send more ETH than the minimum required for a transaction?
A: Yes. In fact it’s best to send slightly more ETH than needed, in case the ethereum gas fee increases by the time your transaction is confirmed.
Q: Why is the ETH minimum requirement always changing?
A: The minimum ETH value needed for wrapping is periodically recalculated based on the latest ethereum gas prices, as can be seen on https://etherscan.io/gastracker
Q: Do I need to send ETH to unwrap WIXI?
A: No. WIXI unwrapping is done on the Ixian blockchain and does not require gas fees.
Q: What happens with the extra ETH fee balance remaining after a wrapping transaction?
A: It will remain on the bridge and can be used by your ixi/eth address pair for a future transaction.
Q: What is the difference between IXI and WIXI?
A: WIXI (Wrapped IxiCash) is an ERC-20 token on the ethereum blockchain that is a 1:1 value representation of IXI (IxiCash) which is the coin used in the Ixian blockchain.
Stay positive,
Team Ixian
