A-Z of trading your IONs on Nibbl
ION is short for Identity of NFTs. It’s a term we use to describe ERC-20 tokens that are obtained after an NFT is editionized. Ions behave like other ERC-20 tokens, so they are fungible, and compatible with Dapps and projects on Ethereum.
Buying or selling ions on Nibbl is easy. You can trade as much as you want, all you need to do is follow these simple steps:
Step 1
Connect your wallet
First, you connect your wallet and ensure that you’re on the Polygon network.
Step 2
Click on the ION you want to trade
Out of the available ions, choose the one you wish to trade.
Step 3
Input the amount of MATIC you wish to trade with
Under the Swap section, you’ll see a box labeled ‘Pay in MATIC’; input the amount of MATIC you want to trade with.
You can also decide to input the number of ions you want to buy. When you do this, its value in MATIC will appear in the ‘Pay in MATIC’ section.
Step 4
Tap on ‘Swap’
Tap on the Swap button to complete your trade.
You should receive your ions immediately.
Now let’s explain some of the terms you’ll see on the Trade page
Maximum Slippage rate
Slippage is the difference between the expected price you wish to pay for an ion and the actual price. It occurs when you buy or sell an asset at a higher or lower price than intended.
When you set your maximum slippage rate, you’re setting the lowest amount of tokens you’re willing to get for a particular price.
Let’s say you want to buy 10 Doods at the price of 5 MATIC. Setting your maximum slippage to 1% might mean you get a minimum amount of 9.8 Doods instead of 10. So when you choose the 1% slippage rate, you’re willing to get 9.8 Doods instead of 10.
Activity
This is a real live representation of all the trading activities of your selected ion. You get to see each wallet buying and selling and the number of tokens they are trading.
Numbers
Under the numbers section, you’ll see all the numerical details of the ion you wish to trade. The details you’ll see are:
Current price
This is the current price of the ion you’re trading.
Trade Volume
This is the total traded volume of the ions of the NFT.
Buyout amount
This is the amount needed to buy out the entire ions of the NFT. Read more about our unique buyout game here.
Supply
This is the available supply of the ions of the NFT.
Liquidity
This is the available liquidity of the ions of the NFT.
Valuation
This is the valuation of the ions of the NFT.
Top Holders
These are the top holders of the ions of the NFT.
Conclusion
Trading is one of the main activities you can perform on Nibbl, and we hope this short article answers all of your questions.
If you have further questions, please feel free to contact us on Discord.
Learn more about Nibbl by visiting our website. You can also join our Discord and Telegram. Follow us on Twitter.
