Greetings!
If you have been following our news, you would know that ETH-ICX pool was recently added to KLAYswap. Since the integration of ICX, ICX in its native form on Icon Network has been steadily flowing into Klaytn ecosystem through Orbit Bridge.
ICON, as one of the largest projects in the blockchain world, has been spearheading decentralized ecosystem development using its rich resources of liquidity. And with the high accessibility to the asset, ICX allows its holders to participate in the economic activities available through KLAYswap.
This post is a guide of using ICX to bring liquidity into Klaytn network through Orbit Bridge.
Summary [Using KLAYswap with ICX]
- Generating an ICONex wallet
- Sending ICX to a Klaytn-based Wallet
- Converting ICX to Klaytn network-based KICX
- Using KLAYswap with ICX
1. Generating an ICONex wallet
ICONex extension for Chrome browser must be installed in order to use ICON wallet.
ICONex Chrome Extension link:
https://chrome.google.com/webstore/detail/iconex/flpiciilemghbmfalicajoolhkkenfel/related
● Creating an ICONex wallet
- Creating a wallet
- Choose ICON (ICX)
- Set up wallet name, and wallet password
- Download and back-up Keystore file
- Check and back-up Private Key
- Verify wallet address
* Please store Keystore file and Private Key in a safe location.
2. Sending ICX to a Klaytn-based Wallet
To use ICX with KLAYswap, ICX must first be converted into KICX, to be stored in Klaytn-based wallet. Let’s look at how ICX can be purchased, sent and transferred to a Klaytn-based wallet in form of KICX.
● Sending ICX purchased from Binance to a ICONex wallet
- Select “Withdraw” from Binance ICX wallet
- Enter ICONex wallet address to receive ICX to
- Choose “ICX” as the Network
- Enter the amount of ICX to withdraw
- Press “Withdraw”
3. Converting ICX to Klaytn network-based KICX
The native asset ICX on ICON Network can be converted into Klaytn-based KICX through Orbit Bridge.
Orbit Bridge Website : https://bridge.orbitchain.io/
● Sending ICX to Klaytn-based wallet
- Choose ICX as Mainnet Coin
- Select Validator Group
- Choose “ICON” as “FROM CHAIN”
- Connect Wallet
- Choose “Klaytn” as “TO CHAIN”
- Enter amount to be converted
- Enter receiving address — this must be a Klaytn-based wallet
(i.e. Metamask, Kaikas, Klip, Decent, Token Pocket)
8. Press “Convert Now”
* Please be aware of all the risks involved in using the Bridge prior to using the Bridge. You must have the correct address entered. When moving a large amount of asset, we advise that you test with a small amount first.
4. Using KLAYswap with ICX
ICX that has been transferred to Klaytn-based wallet then can be used to swap with other assets, or used in pair with another asset to provide liquidity. Please be aware that in order to make a transaction on KLAYswap, the native token of Klaytn, KLAY is used as gas fee. You must have a balance of KLAY in order to use KLAYswap. To learn more, please check these other guides to using KLAYswap.
Medium : Using Metamask for KLAYswap
Medium : Using swap/providing liquidity/staking & boosting in KLAYswap
KLAYswap: https://klayswap.com
Twitter: https://twitter.com/klayswap
KLAYswap Documentation:https://docs.klayswap.com
Orbit Bridge: https://bridge.orbitchain.io
