FAQ | Product usage and IYO related questions and answers after the launch of Zenlink
Zenlink has officially launched on Moonriver and Bifrost and started IYO on November 3, and as of now, Zenlink DEX TVL has reached $120 million, and according to Defi Llama, Zenlink has become the 2nd largest DEX on Moonriver. Based on questions frequently asked by community members, we have compiled this FAQ to help you.
Q: Why can’t I open Zenlink DEX through the DApp URL?
A: The official URL of Zenlink DEX DApp is https://dex.zenlink.pro/, please make sure you access the correct URL first. If you still can’t open it smoothly, please try to clear your browser cache, switch VPN, or use another PC browser to access it.
Zenlink DEX does not support mobile access at the moment, because the current mobile wallet does not have perfect support for the Polkadot ecosystem. However, a mobile version of Zenlink DEX has been completed and will go live when the wallet infrastructure is more friendly to support.
Q: Why do I need to connect both PolkadotJS and MetaMask extensions?
A: Zenlink DEX is live on Moonriver and Bifrost, and you will use the MetaMask wallet when you need to use Zenlink DEX on the Moonriver parachain; similarly, you will use the PolkadotJS wallet when you need to use Zenlink DEX on the Bifrost parachain, depending on which parachain you want to use Zenlink DEX or both.
Q: Why is it that when I try to submit a transaction, it is always in pending status for a long time and cannot be completed?
A: Currently, the Moonriver chain is active, so the network status is congested, and since its default Gas price is fixed at 1, if you try to perform Swap and other operations, please try to manually increase the Gas price according to the network status and pay attention to whether the slippage of the relevant pairs needs to be adjusted. We have made some optimizations for this issue, you can refresh and try again.
Q: How do I acquire assets such as ETH, USDC, BUSD and KSM, kUSD and participate in IYO?
A: If you try to get some other blockchain assets supported by Zenlink DEX other than the native assets such as MOVR and BNC, you will need to use AnySwap or Bifrost to transfer the required assets from other blockchains cross-in to Moonriver or Bifrost, and then you can participate in IYO activities such as Trading Mining, Liquidity Mining, Staking, etc. For a more detailed tutorial on how to use it, please refer to the following.
Graphic tutorials: https://wiki.zenlink.pro/zenlink-dex-dapp/user-guide
Video tutorials: https://www.youtube.com/watch?v=T3SBE7ucayo
Q: Where should I get the WMOVR for participating in staking, and is there an impermanent loss (IL) for staking WMOVR?
A: If you have MOVR assets, then you can swap MOVR directly into WMOVR through Zenlink DEX on the “Swap” page. Please note that the WMOVR that can participate in the Zenlink staking program is not the same as the WMOVR you get from SushiSwap, so be sure to redeem them directly from the Zenlink DEX.
In addition, the exchange between MOVR and WMOVR is not covered by trading mining, and there is no impermanent loss (IL) for participating in staking using WMOVR.
Q: What is Bootstrap and will I be rewarded for participating in Bootstrap?
A: In brief, Bootstrap is designed to help bootstrap liquidity of a token pair, enabling liquidity pools to be created with greater capital efficiency during initial allocation and price discovery.
Users will not be rewarded for participating in the Bootstrap, but you can claim your LP tokens as soon as the Bootstrap is completed and then stake them in liquidity mining to earn ZLK incentives. Note that once you have claimed your LP tokens and staked them, you will not be able to view your liquidity share in ‘Pool’ until you remove the LP tokens.
Q: How is APY calculated? Does ZLK already have a price?
A: APY is calculated according to a certain formula on the basis of the estimated price of 1 ZLK = 5 $. And it needs to be emphasized that it is not calculated on compound interest. You can see more information about how Staking equity values are calculated in Zenlink Wiki: https://wiki.zenlink.pro/resources/tokenomics#token-utility
Q: How often do the invitation dashboard data be updated? Are the total rewards displayed on this page the one I can get in the end?
A: The invitation data is updated every 6 minutes, and the total rewards displayed on the invitation page is actually 10% of the Zenlink DEX transaction fee income, which is also the total prize pool for invitation reward in the regular cycle. However, during the IYO period, Zenlink will provide an additional 200,000 ZLK to reward users who participate in the “Invite to Earn” activities. For more information, please check Zenlink Wiki: https://wiki.zenlink.pro/zenlink-dex-dapp/user-guide/invite-to-earn
Q: When can we claim the rewards for IYO activities?
A: The rewards for IYO activities (trading mining, liquidity mining, staking, and “invite to earn”) can be claimed once every two weeks (14 days). Once the cycle is over, you will be able to claim your rewards. You can refer to the estimated countdown on this page: https://dex.zenlink.pro/#/earn/trading
It is important to note that the staking reward on the Bifrost chain is different. It can be claimed to your wallet account at any time, and the rest of the activities can be claimed once every two weeks.
Q: When will ZLK be transferrable? What if the IYO goal is not reached by the end of 2 weeks?
A: ZLK will be transferrable and circulated after IYO meets the following three conditions at the same time:
Total Value Locked ≥ $100M
Total trading volume for 3 consecutive days ≥ $50M
ZLK Holder Address ≥ 50,000
At present, Zenlink DEX’s TVL has achieved its goal, and the remaining two goals need to be met to start the transfer. We still look forward to achieving these goals with the community's joint efforts to successfully start the ZLK transfer. If there are indeed some difficulties leading to the failure to meet the goals, we will provide a follow-up solution and let the community decide whether to adopt it or not. Thank you for your support!
Q: What if multiple transactions are failed and there are a large number of failed records in the transaction panel that cannot initiate transactions properly?
A: This may be because your slippage or gas price is too low to cause a stutter for a long time, and the transaction record will fail after a period of time, but that doesn’t mean your transaction is failed in the end. You can go to the MetaMask extension and check the transaction activity under “Activity”. If there is still a pending transaction, you can click accelerate and increase the gas price accordingly to replace the old transaction, you must manually accelerate to cancel all transactions and then make a new transaction. Once a transaction is successfully completed, the status in the transactions panel in Zenlink DEX will be updated.
Q: Why are my rewards always the same or even less?
A: No matter which incentive activity you participate in, including Trading Mining, Liquidity Mining, Staking or Invite to Earn, you will not be able to claim your rewards until the end of the 2-week cycle (except for Liquidity Mining & Staking reward on the Bifrost chain, which can be claimed at any time), so the rewards you currently see are estimated rewards. Both trading mining and liquidity mining have their own calculation formulas. You can check the specific calculation formulas here:
Wiki：https://wiki.zenlink.pro/zenlink-dex-dapp/user-guide/iyo-yield-farm
If you find that your estimated rewards fluctuate less because you have a smaller share and the overall liquidity is stabilizing and growing slowly (to a few decimal places), and the estimated rewards are decreasing because the liquidity in your staking LP pool is diluting your share, this is normal, wait for the end of the cycle and Claim your final reward. Also, a reminder that time weighting is an important part of the overall calculation formula.
Q: Why do I always fail to swap or add liquidity on the Bifrost parachain?
A: This may have something to do with Polkadot’s dusty account mechanism, so your wallet account is always required to have a balance greater than 0.01 BNC to ensure that the account is not a dusty account. So when you swap or add liquidity, please do not enter the full amount of your BNC balance, you should always keep the BNC balance in your account greater than 0.01 in order to make the transaction execute smoothly.
If still have doubts about the distribution of airdrop rewards, you can find the answer in this article: https://medium.com/zenlinkpro/announcing-the-zenlink-community-airdrop-program-91950c7a85ba
If you are eligible for airdrop but do not receive ZLK airdrop, please contact the admins for feedback in the Telegram group (except in cases such as forgetting private keys as everyone should be responsible for their wallets).
Learn more about Zenlink:
📍 — DEX dApp| Website | Twitter| Github | Telegram EN | Telegram CN | Announcements Channel
📚 — Whitepaper | Tokenomics
