Trading with TomoDEX - The First Decentralized Exchange on TomoX.

Ha Hoang
Ha Hoang
Nov 4, 2019 · 4 min read

To help users get hands-on trading experience, TomoChain is launching the first DEX, called TomoDEX. Please drop by at dex.testnet.tomochain.com or using Dapp TomoDEX on TomoWallet (Advanced Setting -> Switch network to TomoChain Testnet) and enjoy trading in a truly decentralized manner.

You can receive free testnet TOMO from TomoChain’s Faucet for trading purpose.

Step 1: Import your wallet

If you already have a wallet, just access to yours via Private key, Mnemonic Phrase, Ledger Nano S.

If you do not have a wallet yet, you have to create a new one before importing it to the exchange.

In each login session, a temporary password needs to be set. While trading, this password will be required to confirm actions like placing orders, withdrawing funds and so on. In case you forget, just log out and in again, then set a new password.

Click “Unlock Wallet” to sign in.

Step 2: Enter trading market

After signing in, click “Exchange”, it will take you to the trading interface.

Depending on which tab you click on, you will see different markets. The options are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and so on. Not all token pairs are listed in every market and the prices may vary depending on the market you are looking at.

If you would like to use BTC to buy TOMO, please select BTC, use the search box to find TOMO and click to enter the TOMO/BTC trade pair interface.

Step 3: Start trading

For now, we offer you two order types: Market Order (will be available on Mainnet) and Limit Order.

1. Market Order means that the commission price is not set, only the order amount is set, and the purchase is made by the set amount after the purchase.

For example, if the current market price for TOMO is 0.00005 BTC and you plan to buy a sum of TOMO valued 1 BTC without setting prices, you can place the order as a market order. Market orders will be completed immediately, making it more convenient for instant liquidity and constant market updates.

Operation steps:

  • Select “Market Order” on the trade interface
  • Enter 1 BTC in the amount edit box
  • Click “Buy” to place the order
  • Enter the temporary password for confirmation

Tip: As the market order would usually be executed immediately, you cannot cancel the order once the order has been placed. You may check the trading details in “Order History” and “Trade History”.

2. Limit Order refers to setting the ideal commission price and quantity. Click on the purchase order and place the order at the commission price.

For example, if the current market price for TOMO is 0.00005 BTC and you plan to buy 1000 TOMO when the price drops to 0.000049 BTC, you can place the order as a limit order.

Operation steps:

  • Select “Limit Order” on the trade interface
  • Enter 0.000049 BTC in the price edit box and 1000 TOMO in the quantity edit box
  • Click “Buy” to place the order
  • Enter the temporary password for confirmation

Tip: As the limit order would not be executed immediately, you can cancel or change the order anytime.

Note: In both order types, if the order has not been fully fulfilled , the remaining part can still be canceled or changed.


About TomoChain

TomoChain is built on a performance layer that achieves high transaction speeds without compromising decentralization. TomoChain uses an innovative consensus method called PoSV (Proof of Stake Voting) which gives an incentive to all TomoChain token-holders to play an active part in staking across a network of 150 high-quality masternodes, and to monitor their performance and governance actively. Its staking-governance DApp, TomoMaster, is recognized as one of the leading staking platforms in the industry.

Visit our Website: tomochain.com

TomoChain

Welcome to TomoChain blog. Follow us to get the official news and good reads from TOMO team. Clap along if you feel like a room without a roof!

Ha Hoang

Written by

Ha Hoang

TomoChain

TomoChain

Welcome to TomoChain blog. Follow us to get the official news and good reads from TOMO team. Clap along if you feel like a room without a roof!

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