Before you get started you need to have the WanMask browser plugin installed and your wallet setup.
Navigate to https://wanswap.finance/ to start and click on ‘Connect Wallet’.
The webpage launches with the Swap interface. From here you can navigate to the other features in the top bar. The features will be explained in the next part of the article.
Token swap lets you exchange one token with another. Here you do not need to place orders and have an order taker to trade with you. Rather, you trade with the liquidity pool. Therefore, you can get your tokens almost instantly thanks to Wanchain’s fast speed and low fees.
In the next figure, you can see how it works.
At the bottom, you can see more details on the transaction. Here you can see the minimum you will always receive, the price impact in the pool, and LP fee, and the route that will get you the best price for your trade.
If the price impact is high, you might want to put in a smaller amount at first.
When you are ready to swap, just click on ‘Swap’ and follow the instructions.
If you want to adjust slippage or a transaction deadline, you can click on Settings in the top-right corner. Please be careful and read what the settings mean by clicking on the question marks!
Liquidity Pool Staking
In the next section in the top bar, ‘Pool’, you can add liquidity to WanSwap. In the previous section, we mentioned that traders in fact trade with the liquidity pool. The funds in the liquidity pool can be provided by any user (liquidity providers). By staking funds into the liquidity pool, the liquidity providers own a share of the pool and hence can collect the trading fees generated by the pool. Any user can provide liquidity to WanSwap to earn transaction fees. You can either create a trading pair or add liquidity to an existing pair.
The following figure shows the ‘Add Liquidity’ interface. Users can add liquidity with just a few clicks. Afterward, liquidity providers get WSLP liquidity tokens. These tokens represent their shares in the pool and will be used to withdraw funds or in the yield farm.
When you deposit your WSLP tokens for farming, the details of the deposited liquidity are not visible in the pool tab. If you can’t see the details of a pair you provided liquidity for and that was not used for farming, you can import it. Click on ‘import it’.
Now put in the data. If everything is correct you will see the details of your liquidity provided. Click on ‘Manage this pool’ to add it to the pool tab.
The amount of tokens can differ from the amount you initially provided. For more information on this check this guide.
In the next section in the top bar, ‘Farm’, you can stake the liquidity tokens from the previous section into WanSwap’s yield farming platform.
Select the pool which you have provided liquidity, and click on “Deposit” or “Manage”. This will bring you to the management page which is seen in the next figure. Here you can deposit your WSLP tokens. Click on the deposit button.
Click on ‘Max’ to put in all the tokens. The first time you need to approve first. This will be done in your wallet. After approving click on ‘Deposit’ and confirm again in your wallet.
By depositing liquidity to the Farm, you get WASP tokens in return. The reward of WASP tokens will be calculated based on your liquidity token amount and staking time, i.e., staking a larger amount of WLSP for a longer time will get you more WASP tokens. The WASP token is at the center of the WanSwap platform and economics. It will be used as a governance token and for other purposes.
You can claim your WASP by clicking on the ‘Claim’ button. This will only claim the WASP accumulated.
If you withdraw from farming all WASP accumulated will be claimed automatically.
After withdrawing you will get back your WSLP tokens. These are needed to pull from the liquidity pool. You will now see the details of your liquidity on the pool tab again.
On the Hive tab, you can stake WASP tokens to earn WAN rewards. These rewards are provided by the WanSwap validator and storeman nodes.
Click on deposit to get started.
Click on ‘Deposit WASP Tokens’ and enter the amount of WASP you want to stake. You will see how much WAN you will get each week. First time you will need to approve again before you can deposit.
Afterward, you can see the details of your stake.
Click on manage to claim your WASP, deposit more or withdraw.
The vote tab will take you to the voting page. Here you can vote on proposals, create proposals or see the results of previous proposals. More information on this will be explained in a seperate guide.
- Cross chain: this will take you to the wanbridge site. Here you can wrap or unwrap tokens. See this guide for more info.
- WanLend: this will take you to the WanLend page. WanLend is a cross chain lending platform. See this guide for more info.
- Auction: this is a game where you can use WASP tokens to bid on WAN of FNX.
Wanswap is a decentralized exchange with automated market-making (AMM) modeled after Uniswap & Sushiswap. WanSwap is built on the Wanchain blockchain and takes advantage of its cross-chain features to enable multi-chain asset trading with trustless native chain withdrawal.