WOO-DEX Testnet Tutorial
Introduction
June 9th WOO DEX was testnet launched on NEAR, built on-top of Orderly Network. WOO Network launched a game-changing DEX that looks and feels like a centralized exchange but functions on chain, permanently altering the decentralized trading experience in cryptocurrency.
WOO DEX is set to alter the norm in speed and throughput from a decentralized exchange by combining the CeFi trading experience with the simplicity of DeFi. WOO DEX can maintain a quick transaction execution time and high rate limits for both manual and API trading by shifting order book calculations off-chain.
So let’s dig into WOO DEX
First we begin with the selection of our trading dashboards:
The difference is that Standard mode displays one trading chart, Advanced mode displays three trading charts, and in Customized mode you have a clean board. Select your preferred choice — and make any changes as you go along, with a fully customizable interface.
In this session, we’ll go over the Standard dashboard.
The Near wallet must then be connected. Press the “Connect Near Wallet” button in the top right corner.
Click “Connect wallet” in the window that pops up.
The next step is to establish a new wallet or link an existing one. In this situation, I’ll start over and create a new wallet.
We choose a name and reserve an Account ID.
We choose the degree of protection for our wallet (I picked a mnemonic phrase) and click continue.
Keep your seed phrase safe. (no one apart from yourself should ever see your seed phrase, keep it safe and do not send it to anyone — the team will never request your seed phrase).
In the following window, you’ll be required to enter a certain number from your seed phrase. Then press the “Verify and Complete” button.
Start from the beginning if you didn’t save the seed phrase and cannot recall it.
Click Next.
Click Connect.
We are returned to the trading floor after a little delay, and we are instructed to begin by placing a deposit.
We will have two assets at our disposal: NEAR and USDC. You can directly deposit 200 NEAR initially, and USDC may be obtained by clicking on the top “GET 1000 test USDC” button and verifying the transaction in the wallet.
You may now deposit and withdraw assets from your account.
Following the completion of your transactions, you will be able to view them in the transaction history and withdraw your assets from the deposit page.
You have now completed the actions in the wallet page!
Now it’s time to navigate to the Trading tab.
Let’s start with the standard template.
Test USDC tokens can still be bought from the top button — use these to start trading! (buy, sell in limit and market order). More assets will be coming soon.
Transaction history here:
If you find a problem or something that bothers your eyes in the UI, please report it to the #testnet-support channel in the Orderly Network Discord.
