Jan 21, 2022

5 min read

Create a Trusted Circle, add a Digital Asset, Permission the Trading Pair and Trade in Tgrade

If you are new to Tgrade and want to learn how Trusted Circles work in practice then these are the steps to take.

Setting up a Trusted Circle

Tgrade is a public, permissionless blockchain designed with decentralisation at its heart. One of the key features are Trusted Circles which allow you to set up a group how you want without needing the permission from anyone. To learn about Trusted Circles and what they can do there is a nice animation here

The first step is to set up a Trusted Circle which you do by clicking on the Add Trusted Circle button and you will be shown a dialog screen to join an existing one or create a new one. You are now going to create a new one.

Clicking on next you are taken to the screen to set up the details such as the name and the governance rules.

You then click next where you add the member(s) of the Trusted Circle or you can chose to do that later.

Finally you set what escrow amount you want the voting participants to have. Voting participants are the ones that can add/remove new participants, set whitelisted pairs and edit the Trusted Circle details.

You sign the transaction and a confirmation screen appears

Your Trusted Circle is now ready

Create a Digital Asset and associate it with my Trusted Circle

You create a Digital Asset and associate it with the Trusted Circle you have just created. Before you begin, you need to copy the address of the Trusted Circle to your clipboard.

Now go to T-Market and click Create Asset which you can find on the top right and complete the details of your Digital Asset

Clicking next you complete the information including the address of the Trusted Circle you created.

You sign the transaction and are shown the confirmation screen

Create the trading pair

Now you need to set up the trading pair and this is done in the Provide Liquidity tab where you select the assets to trade, you select the token from the list and you are going to create a TGD <-> SUST (the Digital Asset you just created)

You then click on Create Pair and you will be asked to confirm

Whitelist the trading pair to the Trusted Circle

Since SUST (our new asset) is associated with our Trusted Circle we need to whitelist the pair, you go back to the Trusted Circle dashboard and select Whitelist Pair.

You then see the pair you created TGD<-> EUR and select the pair to create the proposal

You then see a confirmation screen which you click to confirm and then sign the transaction.

You will see the status of the proposal in the Trusted Circle dashboard and when the Quorum and Threshold is reached you will see the status is Passed

You need to execute the proposal which you do by clicking on the proposal which shows you the result of the vote along with the execute button

You then sign the transaction and you see the confirm screen

Provide Liquidity

You now go back to T-Market where you will provide liquidity to the pair you whitelisted and the Provide Liquidity tab where you select TGD and EUR and you will see a button appear Approve EUR which you click.

You now enter the balance for each token, and at this point you are setting the price and you then click provide

You sign the transaction and see the confirmation

Exchange tokens from the whitelisted pair

Now the pair have liquidity you can trade them by selecting the tokens from the list from the Exchange tab, you could enter 10 TGD and you are shown the amount of SUST you receive along with the fees. Once happy you click Swap to transact.